Will he lose a bunch of cash?
Discussion
A friend is sizing up whether or not to buy a car on the continent. He is looking to import a right hand drive brand new car through an internet company.
I would love to hear any of your stories on this one.
Has anyone heard of any problems selling these cars on after a few years?
Any major snag/tips to offer?
I'd appreciate any help I can get on this.
Thanks in advance.
I would love to hear any of your stories on this one.
Has anyone heard of any problems selling these cars on after a few years?
Any major snag/tips to offer?
I'd appreciate any help I can get on this.
Thanks in advance.
a mate of mine does it 2 - 3 times a year, he always gets full UK spec, goes over and drives it back himself.
he drives it around for 3-4 months and sells it, tells me that he has never lost any money and has made a profit on a couple.
he has done it with a renault Cabriolet, Merc and a SAAB cabriolet that i think he has just sold.
There was an article in my 'in-laws' Guardian regarding a chap who put £9k deposit down on a 996 via an importer. To keep matters above board the funds were held by a solicitor until the necessary ordering was complete. The solicitor then transferred the monies. Unfortunately, the company went tits up shortly after, leaving this chap £9k down. Porsche had recieved something like £120k of deposits from this company for x number of cars the problem being no one knew which deposits were for which cars as there was a shortfall. (I think)
Porsche very kindly offered to maintain his place on the list - the only snag was it would cost him another £12k deposit.
I think this is exceptional though. Poor guy.
Porsche very kindly offered to maintain his place on the list - the only snag was it would cost him another £12k deposit.
I think this is exceptional though. Poor guy.
Careful at resale time though...
I have been trying to get a bid on a customer's Z3 2.0. V nice car, facelift, 2001 MY etc, and all I'm getting is teeth sucking in the trade cos its imported.
Best bid was £11500...
Simultaneous cake consumption & retention may be out there for the right import, but it appears that a Z3 ain't it...
Chris
I have been trying to get a bid on a customer's Z3 2.0. V nice car, facelift, 2001 MY etc, and all I'm getting is teeth sucking in the trade cos its imported.
Best bid was £11500...
Simultaneous cake consumption & retention may be out there for the right import, but it appears that a Z3 ain't it...
Chris
I had a look at a BMW 328i coupe last year. Sitting beside it was much younger 325 coupe at the same price. I asked if it was an import as it was below UK book price - the salesman confirmed that it was, although it was full UK spec. I asked him if buying an import would affect resale - he confirmed it would - on any car under 3 years old as any punter buying the car from them will not pay the same for an import. After 3 years, the difference in price starts to narrow.
I'm sure its a different story if you buy a car in short supply like a V6 TT or SL merc though...
I'm sure its a different story if you buy a car in short supply like a V6 TT or SL merc though...
A friend of mine (with my help tracking dealers down) bought a Golf V5 from Denmark. He just rang the dealer. He was going to go and drive it back, but the dealer said he could ship it to some UK company for 300GBP, and they then charged 100GBP handling. Saved 4K on list (local VAG dealer would only drop 500 as 'it is in demand sir'. The import arrived before the UK dealers best delivery!)
If you bear in mind you save a wedge initially, you can afford to sell it at a reduced price.
Just beware if things go wrong, it can be a nightmare.
Sparks
If you bear in mind you save a wedge initially, you can afford to sell it at a reduced price.
Just beware if things go wrong, it can be a nightmare.
Sparks
re sale value depends on the specific car...Myself & 2 mates all bought new 996 direct from germany last year,full UK spec with correct extras as advised by Porsche UK dealers.
As there is a waiting list in the uk of 10 months plus (depending upon model) you can actually sell these cars with low mileage back to Porsche dealers in the UK.They have a set allocation of cars from the factory.
My 2 friends did exactly this making a few grand profit.
I have kept my car as I enjoy it.The recent strength in the Euro currency has made it less attractive than it was a year to 18 months ago to nuy a car on the continent.
As there is a waiting list in the uk of 10 months plus (depending upon model) you can actually sell these cars with low mileage back to Porsche dealers in the UK.They have a set allocation of cars from the factory.
My 2 friends did exactly this making a few grand profit.
I have kept my car as I enjoy it.The recent strength in the Euro currency has made it less attractive than it was a year to 18 months ago to nuy a car on the continent.
Saved 8k on a Volvo V70 T5 through Holland. 33k retail, cost me 25k including trip to collect etc... Smooth as silk, full paul-b and UK spec right down to the dealers list in the glove box. Bought from a main dealer in a little town near Amsterdam. He had six cars in the showroom awaiting delivery, all RHD, all for the UK. He picked me up at Schipol, four hours later I was on the ferry at Rotterdam.
The only tedious bit was having to wait 3 months and having to privately sell my old car.
My advice would be pay your deposit directly to the dealer (I paid the agent who set it up his commission seperately after I got the car) and confirm everything in writing. When I collected the car I took a bankers draft with me so I could check the car before handing over the cash.
The only tedious bit was having to wait 3 months and having to privately sell my old car.
My advice would be pay your deposit directly to the dealer (I paid the agent who set it up his commission seperately after I got the car) and confirm everything in writing. When I collected the car I took a bankers draft with me so I could check the car before handing over the cash.
Spoonman said: Did some research on this a couple of weeks ago, that will be appearing soon in national press. It will definitely affect resale value unless the car's a desirable model that's difficult to get hold of in the UK, or yet to be launched over here.
Buy new 33k car save 8k.
3 - 4 years / 70k miles later. UK car worth 12k. Import may be worth 1 or 2 k less. You can still save big money and I actually dont think it will make any or much difference to resale if you keep the car for a reasonable length of time.
Not long sold the G/F's 1.8GTiT Golf, bought from Holland, saved £6k on new price (all in, VAT paid, on the road). Had it for 3 years and got market value for it (sold privately).
If you go to anyone in the car trade then they try and rip you off "because it's an import", but then when don't they try and rip you off?
If you sell privately you should get a decent price for the car and as someone has already said, if you saved a bit in the first place then you can sell it cheaper anyhow.
Alan.
If you go to anyone in the car trade then they try and rip you off "because it's an import", but then when don't they try and rip you off?
If you sell privately you should get a decent price for the car and as someone has already said, if you saved a bit in the first place then you can sell it cheaper anyhow.
Alan.
chris.mapey said: Careful at resale time though...
I have been trying to get a bid on a customer's Z3 2.0. V nice car, facelift, 2001 MY etc, and all I'm getting is teeth sucking in the trade cos its imported.
Best bid was £11500...
Simultaneous cake consumption & retention may be out there for the right import, but it appears that a Z3 ain't it...
Chris
Are in you the car biz, Chris? One of the things I've always wondered...I'd like to ask you. When you trade in a car that is not going to be sold on by the dealer...for example when trading in a Peugeot for a Porsche..the dealer calls around Peugeot traders and tries to get a decent quote. Thereafter it seems to passed through with no overhead - you get what this trader would offer taken off the price of the new car.
I'm with this so far. But normally this price is on the low side - understandably the trader needs some margin. So..do dealers ever call around their "mates" and offer THEM the car instead.
Seems to me that this could be a way of getting a godo deal on a second hand car. You just let the local Audi dealer know you'd like a BMW if they get one as trade in and wait?
Does this ever happen?
paul-b said:
Spoonman said: Did some research on this a couple of weeks ago, that will be appearing soon in national press. It will definitely affect resale value unless the car's a desirable model that's difficult to get hold of in the UK, or yet to be launched over here.
Buy new 33k car save 8k.
3 - 4 years / 70k miles later. UK car worth 12k. Import may be worth 1 or 2 k less. You can still save big money and I actually dont think it will make any or much difference to resale if you keep the car for a reasonable length of time.
It's very unlikely you'll find a UK-spec car so much cheaper than a car in this country that isn't already available with a healthy discount from a main dealer. Especially when all the hidden extras are taken into account.
Yes you'll save money, but expect to lose a similar proprtion of the car's value at resale time. Unless you flog it privately and don't mention its imported status, of course.
The other thing is the used market may be more willing to accept imports in three years' time.
Spoonman said:
It's very unlikely you'll find a UK-spec car so much cheaper than a car in this country that isn't already available with a healthy discount from a main dealer. Especially when all the hidden extras are taken into account.
Yes you'll save money, but expect to lose a similar proprtion of the car's value at resale time. Unless you flog it privately and don't mention its imported status, of course.
The other thing is the used market may be more willing to accept imports in three years' time.
With due respect that's cobblers.
My car was identical to a UK spec car in every respect. I was offered a 6% discount by the main Volvo dealer here (equivalent to most of their margin). So fair enough, on that basis I only saved 6k or 20% on the import. There is no way that, come change over time, I'm going to get 6k less for my car than an identical car that was bought from a UK dealer.
There are also scare stories on servicing. My local dealer told me that he would make practically nothing on a sale to me but was v keen to have my servicing, wherever I bought the car. The service from them on my import (free courtesy car or collection, free valet, follow up calls etc..) has been every bit as good as it was on my previous car, bought new from them.
Paul, if you'd spent half as much time searching for a better deal in this country as you did sorting out your import, you'd've found a dealer willing to offer a heavier discount. It's not unusual for Volvo dealers to knock £3k off list prices to shift their higher-end models, including those already well specced-up.
Even if you had saved 20 per cent, you may well get 20 per cent less for you car at trade-in time. You've already said it could be worth two grand less than the £12,000 it'll be worth in three years. Now, 20 per cent of £12,000 isn't a great deal more than two grand...
As I said, it's a similar proportion.
Servicing has never been a real issue, unless cars aren't UK spec. Even then, dealers don't refuse because they make so much money on parts and labour.
Whatever, anyone who's used their initiative to save a few quid should be applauded, and buying a parallel import is a fine way to go about it – especially if you have the experience of going overseas to collect the car yourself (and can justify the loss of earnings for the time you're away).
Even if you had saved 20 per cent, you may well get 20 per cent less for you car at trade-in time. You've already said it could be worth two grand less than the £12,000 it'll be worth in three years. Now, 20 per cent of £12,000 isn't a great deal more than two grand...
As I said, it's a similar proportion.
Servicing has never been a real issue, unless cars aren't UK spec. Even then, dealers don't refuse because they make so much money on parts and labour.
Whatever, anyone who's used their initiative to save a few quid should be applauded, and buying a parallel import is a fine way to go about it – especially if you have the experience of going overseas to collect the car yourself (and can justify the loss of earnings for the time you're away).
Spoonman said: Paul, if you'd spent half as much time searching for a better deal in this country as you did sorting out your import, you'd've found a dealer willing to offer a heavier discount. It's not unusual for Volvo dealers to knock £3k off list prices to shift their higher-end models, including those already well specced-up.
Even if you had saved 20 per cent, you may well get 20 per cent less for you car at trade-in time. You've already said it could be worth two grand less than the £12,000 it'll be worth in three years. Now, 20 per cent of £12,000 isn't a great deal more than two grand...
I dont want to get into a protracted argument here spoons, life's too short mate. But when I bought my car in Nov 2000 it was a new model and 6% was the best new deal I was offered. There was a waiting list for the car and as I understand Volvo dealers work on a 7% margin on new cars it was difficult to believe I could have done better. Also you don't seem to appreciate that 20% of 33k is a lot more than 20% of 12k (which I dont reckon I will lose anyway).
Don said
Are in you the car biz, Chris? One of the things I've always wondered...I'd like to ask you. When you trade in a car that is not going to be sold on by the dealer...for example when trading in a Peugeot for a Porsche..the dealer calls around Peugeot traders and tries to get a decent quote. Thereafter it seems to passed through with no overhead - you get what this trader would offer taken off the price of the new car.
I'm with this so far. But normally this price is on the low side - understandably the trader needs some margin. So..do dealers ever call around their "mates" and offer THEM the car instead.
Seems to me that this could be a way of getting a godo deal on a second hand car. You just let the local Audi dealer know you'd like a BMW if they get one as trade in and wait?
Does this ever happen?
Short answer if my boss is reading this....NO (!)
Real answer is sort of...I can only speak from my experience. My contract only allows me to buy one new car per year at cost plus house charge basis. Second hand cars - 1 per year at a value equal to the highest of 5 trade bids.
The easy way around this was how I got a steal on a 205CTi for £300, I bought it off the trader who bought it off me at work. Roundabout way for sure, I got the car @ cost, work are none the wiser, and I gave a drink to the trader.
What you are alluding to does happen, but not an awful lot of really desirable kit gets p/x'd at a Hyundai dealership!!!
The punter selling the car doesn't get fleeced 'cos the SIV (stock in value) will be lower than the offer made to do the deal (this is to do with the VAT liability - it's cheaper for us to show more discount - no VAT - than to show the 'true' value of the p/x - on which we pay VAT. Sounds more confusing than it is!
Short answer being - (about time I hear from the back) is that yes you can net a bargain buying as a trader (or a mate of one) but never forget that the sale is on a trade basis - sold as seen & no warranty or comeback of any descrption.
Hope this clarifies (sort of) for you Don
Don having re-read your post (DOH!) are you hoping to contact a dealer and buy one - you will have to cultivate the relationship and let them know you are serious. Most of our trades go to two people who I can ring, they give a firm bid unseen over the phone (relying on my honest descrption) and they will buy anything. Most dealerships will not want to get involved with someone who only wants to buy one car (but try anyway...!)
Best wishes
Chris.
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