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WHY NOT? The usual arguments when it comes to the discussion of car imports involve drumming up features and praise to the amount that would put any self respecting advertiser to shame. The possibility of owning that rare Alfa Romeo or Mitsubishi at a lower cost would bring a smile to the prospective owner. Features not previously available in counterpart British models of some cars also provide that extra incentive. And as opposed to buying from a local car broker, you don’t have to be on a waiting list to obtain your car when you buy direct from a foreign manufacturer or dealer. But as the saying goes, there’s a B side to every story. The tremendous amount of paperwork to be accomplished alone is to some the most frightening. Temporary Transit Plates, EC Safety and Emission Compliance Certificates of Conformity, HM Customs and Excise Declarations, Single Vehicle Approval Tests and the 17.5% Import Tax are enough to rattle some prospective importers to their senses. The effort of searching for that elusive dream model in the EU alone and finding a reliable and trustworthy broker or dealer may not be that all worth the car itself. When buying a European import, one must remember that you do not pay VAT Most imports, especially those from North America and Japan depreciate at a rate slightly higher that your average British car, that aside from the additional 10% tax on top of the 17.5% excise tax made on all imports from these countries. Putting up a foreign made car in the second hand market for resale could prove to be a daunting task. And, with the fluctuating exchange rates in the world market, you may end up paying more than what you bargained for. |
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