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CrozierFamily

Using cars to increase the money you can bring to Aus? Surely not this easy?

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Hi

 

I am hoping someone can point out a flaw in my logic someplace, please help!

 

I am thinking about how to transfer my £ equity to Australia to get the best deal I can. The exchange rate is not great, so I was thinking of alternatives.

 

What I have noticed is that the price of some cars in Australia is very high, compared to the UK. An example I have is a friend of mine who is currently selling a car in the UK for £17k. In Aus I have found the exact same car for sale at around £45k. Now I know shipping and taxes at will eat up maybe £5k, but still that is a double your money scenario.

 

I am thinking that instead of transferring cash, I purchase vehicles I know are worth a lot of money in Aus and ship them. Then convert the value in Australia.

 

There must be some flaw to my cunning plan, or surely everyone would do this, does anyone know what the flaw is?

 

Cheers,

 

Andrew

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Hi Andrew I'm sure you need to have owned the car 12 months, but if you happen to own a Golf give me a shout.


If you are depressed you are living in the past. If you are anxious you are living in the future. If you are at peace you are living in the present.

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Hi Andrew I'm sure you need to have owned the car 12 months, but if you happen to own a Golf give me a shout.

 

Hi, so to ship a car to Australia, I have to have owned it for 12 months? If not would I have to pay a tax of some kind or is it just not allowed? I could bring a golf, you never know I may end up taking orders! lol

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Love your thinking! But not quite sure you'd get away with that, maybe one or two but I imagine they'd catch on with a few :smile:

 

One problem I can see with that is you have to have owned the car for 12months minimum before shipping it to Australia.

 

My husband is from turkey and their car prices are very similar to Oz, thousands for 20year old cars! We've always joked about buying and importing cars.

 

***edited as just realised another poster posted just before me about the 12month thing!

 

Off topic but we have the same surname!

Edited by Kel87

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Guest chris955

Yes you need to be able to prove you have owned and used the car for a full 12 months. You can import cars built prior to 1989 without the ownership restrictions so perhaps look at a classic car ?

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Love your thinking! But not quite sure you'd get away with that, maybe one or two but I imagine they'd catch on with a few :smile:

 

One problem I can see with that is you have to have owned the car for 12months minimum before shipping it to Australia.

 

My husband is from turkey and their car prices isle very similar to Oz, thousands for 20year old cars! We've always joked about buying and importing cars.

 

Ha ha, thank you. I am not trying to get round taxes or anything like that, so if I had to pay a levy to do it I would if you were allowed. It seemed like a very simple idea to me, but I was pretty sure there would be a reason why it would not work!

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Yes you need to be able to prove you have owned and used the car for a full 12 months. You can import cars built prior to 1989 without the ownership restrictions so perhaps look at a classic car ?

 

That could work! Maybe a few old school Porsches!

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It is actually quite handy to have found out you need to own your own car for 12 months before bringing it out, as I had at least planned to buy a car here and bring it with me, given the price difference. Thank you as ever folks.

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Guest guest76088

There is a thread on this site somewhere. Owned taxed, insured and operated for personal use for at least one year. Even if this is met, I suspect there will be limits on "car collections".

 

BigD

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Love your thinking! But not quite sure you'd get away with that, maybe one or two but I imagine they'd catch on with a few :smile:

 

One problem I can see with that is you have to have owned the car for 12months minimum before shipping it to Australia.

 

My husband is from turkey and their car prices are very similar to Oz, thousands for 20year old cars! We've always joked about buying and importing cars.

 

***edited as just realised another poster posted just before me about the 12month thing!

 

Off topic but we have the same surname!

 

You dont come across that many folks with our surname! Nice to meet you!

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Andrew have a word with Iron Chef on here he will be able to give you the ins and outs. I wonder if you have to keep it for a length of time once you arrive.


If you are depressed you are living in the past. If you are anxious you are living in the future. If you are at peace you are living in the present.

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Andrew have a word with Iron Chef on here he will be able to give you the ins and outs. I wonder if you have to keep it for a length of time once you arrive.

 

Thank you!

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Yes I seen those comparisons also and wondered. We own our two cars over 12mths but will they sell easy?


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Guest chris955
That could work! Maybe a few old school Porsches!

 

There is always a good market for classic cars and you could bring in a dozen if you wanted to. They are also easier to insure and sell than newer imported cars.

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There is always a good market for classic cars and you could bring in a dozen if you wanted to. They are also easier to insure and sell than newer imported cars.

 

Hi, I think it could be a possibility, sounds like a good idea, and as long as I bring a car that appears to be popular it could just work!

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Yes I seen those comparisons also and wondered. We own our two cars over 12mths but will they sell easy?

 

I think it depends on what the car is, just like any place. Some cars hold there value better than others, some are niche etc, so you probably need to work out what the demand is for the particular car you own.

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Under the personal import scheme I'm pretty sure you're only allowed to bring in one car (so if there's two adults that would be two cars).

 

Check with the Chef :)


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We brought a car over and sold it as soon as we arrived. Think from memory made about $25k.

Could name plenty that could make you some cash!

We took a Merc AMG across.

Definitely a car a bit more special,

Donna x


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Guest shaunoss

I am going through this process at the moment. When I looked for a replacement car on carsales.com.au I was shocked at the prices of second hand cars in Oz.

 

I had a similar "ker-ching" moment when my entrepreneurial mind went into overdrive.....and then I got slapped back into reality at a second-hand car dealership in Perth last december. I asked the dealer if he would like to purchase my M3 convertible from me when it arrives later this year. He offered me over 300% profit on it unseen, so I told him he could have 20 by the end of the year. He then told me how difficult it is to do multi imports, and whilst the margins are highly desirable, there are too many areas in which you can get stiffed by the customs. They could make life extremely awkward and costly if they thought you were doing it as a business and making a nice mark-up. As the dealer said: If it was easy, everybody would be at it for those margins. Several extremely cash-rich shady Russian syndicates have tried and given up.

 

What I have learned over the last couple of months is that, as a couple you can take 1 car each. You have to have owned and used the car for a period of 12 months proir to import.

 

Pre 1989 cars don't attract these restrictions, and you can import multiples thereof, but they would be subject to fairly comprehensive checks in government approved workshops, to get roadworthy certificates. In the UK we salt our roads, and I've yet to see a 24 year old car with no signs of rust. I dont mean on the shiney painted parts that we can all see, you need to get underneath and examine all the traps where mud and road grit can accumulate. I'm sure rust-free 24 year old cars do exist, but they are about 1 in 10,000 and very low mileage. Having said all that....I'm still looking out for a 1989 Aston Martin!!!

 

Caravans are good to import, and there are no year long ownership rules, so I'm waiting until the end of august and the end of the UK season, before I purchase my "28 foot Bailey Pegasus". That will be sold on my 2nd day in Australia. Also, you can take a motorcycle (I've got one, and it's going in with the furniture) as well as your car and caravan. And a jet-ski....Mines shall be purchased in august!

 

Shaun.

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On personal imports, it's 1 car per five years as well.

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I presume once you are here there is no way to buy a car in the UK and import it over, or get your parents to buy the car keep it for 12 months then ship it to you as your own.


If you are depressed you are living in the past. If you are anxious you are living in the future. If you are at peace you are living in the present.

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We have been using Iron Lady with a car imports. One from me and the other my husbands car. They have been brilliant at every step of the way. A definte must. We have been chatting for about a year now online and on the phone. They have been reallymgoodnwith answering our car queries.


Six months in, not settling in very well. Going back . We are happier since we decided.

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We have been using Iron Lady with a car imports. One from me and the other my husbands car. They have been brilliant at every step of the way. A definte must. We have been chatting for about a year now online and on the phone. They have been reallymgoodnwith answering our car queries.

 

Sounds a great customer service.


If you are depressed you are living in the past. If you are anxious you are living in the future. If you are at peace you are living in the present.

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i think if you buy a load of cars you may have issues, but one or 2 high value cars should be ok. id have a chat with iron lady, as they check cars value on a daily basis, im sure they would be able to help you decide which car you wish to own for 12mths and a day.

they also do a pretty competitive door to door service, and as its charged per car, shipping a high value car will cost less as a %ge of profit.

all in all, a great idea.

 

wish i'd thunk of it!


Chicken, gave me a bad coupon.

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Sounds a great customer service.

 

 

It is. Highly recommend Iron Lady

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