Jammer

Hi all...

I m calculating the costs of importing my own 8 from Japan..
based on rough calculations, can save at least 30-40k..

OMV 40k (purchase price from Japan)
tax 35% on OMV - 13k
COE 13k
other charges including freight, air ticket to fly there n book 10k
total = 76k

buy from MM, 115k

Savings = 40k

Correct me if I am wrong...

Of course we have to find the agent in Japan and there will be alot of documentations... plus no warranty..
But should be worth it if the savings is so much right?

mandotcom

Hi...

Yes.. usually you save around SG$10k if you do your own importing

Used to help my friend import cars from UK. Can be quite stressful.

MDC

Jammer

only 10k?.. too little..

how do u work out the costs?

coupe07

if it is so much savings, everyone will be doing their own imports..... its not worth it... time, effort, and even the savings....

Jammer

Not alot of pple can come up so much cash...
More than 90% of the sporeans who buy car take more than 70% loan..
Therefore, they never thought of importing their own car...

coupe07

u wil be surprised how many here dun take loans and are cash rich....

mandotcom

yes... only about 10K saving.. dont forget your GST (that is already 5%).. U cannot compare your price with MM. I think is only fair to compare price with PI with their own (1year) workshop warrently.

We did UK cars at that time the COE is SO High and we really cry to bid for it... and save S$10+ for a E230 BENZ.

Emperor

Sure or not? Iras would not check meh?

I knew a doctor who imported his own evo. Save almost $40k. He flew over to japan, bought car, deregistered it and did the neccessary documentation. There is a checklist to do it. I think its on one motoring.

coupe07

if u declare ur income properly and pay the necessary taxes, they shldnt be checking on you.....

Jammer

yes i know many pple r cash rich..

but i m talking about the majority of car buyers, they will take up more than 70% loan..

Jammer

only save 10k??
so little?..

I read about the rules of importing cars.
LTA will tax 20 + 12 + 5 (GST) = 37% on your OMV

OMV is about 35 - 38k

Jammer

for those who r really interested...

http://www.onemotoring.com.sg/publis...ortation_.html

mandotcom

As i said. Your compare the price with MM. You should compare with PI. You work back ward:

I bought my AT8 at SG$91,888 (after discounted and rebate and rebate = around SG$88k). if you less off Finance 3.25% of 7yrs, then my OMV 33K, COE 10K, then 1yrs Warranty, then freight , road tax, etc. I think the saving is about 10K

Fab 8

You forgot the ARF which is 110% of OMV...

EBS

Hi

How could u forgot the ARF?? Its 110% of OMV!! So if ur car is 40k OMV, bring in the car and paying ARF oredi cost u $84k. Then other taxes and GST will cost u another 15% before u bid COE.

Take a look at the website again my fnd. Its so transparent nowadays u can actually calculate the profit margin for the car dealers so nop way u can save $40k. Anyway good luck if u can avoid the 110% ARF.

cheers

M-ster

If you wanna bring in your own car, you should get those more expensive and exotic stuff. Like an Elise. Elise is way over priced in Singapore. The Elise is priced similar to a S2000 in Japan. If that works out to be exact of wat here is selling, the S2000 is $130000 without coe. with that, one might save up to $100k!


or am i dreaming....

EBS

Absolutely correct. U should self import lambos, Ferraris, porsches and those cars which has very very high 'luxury premiums'....., then its worth it. But unfortunately Ferraris etc are close loop kinda thing and if u are in those 'social circles', dont think u want to boast abt ur Ferrari being self imported whereas those of ur friend's are having cocktail buffet etc hosted by Hong Seh...

to those people who owns 5 cars, wats $100k to $200k premium ??

If u cant afford a $700k car, tink high chance u oso cannot afford $550k car if u self import. Just my thots .. but for Elise , its actually a good idea ....

Rainne

there are alot of hidden/unexpected costs esp in the logistics side. if u ship it in a container, u'll definitely get alot of scratches & dents but a whole lot cheaper. if u ship it using vessels specialized for cars, the freight is higher. and the paperwork is a nightmare

OWS

How about the insurance for the car during the freight???

INXS

just a few hundreds.. but its tough to get underwriters interested in a one off transaction cos the claims are high

lohsk

Yup...

I tot it was 130% of the OMV

Oops just checked... it's 110%

simply8

have been reduced to 110%

Jammer

not importing my own car liao..
cos MM wanna forfeit my deposit of 21k... not worth it liao...

but based on rough calculations, can save about 30k...

cheers

coupe07

seriously, if it is 30k, I will be the 1st one to import my own RX8 oredi.... imagine my time when i placed the order, the car wld have cost 106k only minus the supposedly 30k savings.....

the most discount u can see is only abt 10k, and all the nitty gritty hassles.... and u have to fork out all the cash upfront.

EBS

Haha if 30k, there will be many more who import their own car. Coupe07 is right, its abt $10k plus so for many, not worth the effort.
Its easy and transparent, do ur sums, just make sure specs are the same cos the diff in spcs can cost SGD 10k in OMV.

Cheers