Should I sell or export my Elise?
Discussion
Okay, I have an interesting predicament… I've been in Australia since November 2005, in June 2005 I purchased my 111R, (at the time; I didn’t know my job was going to take me overseas, just to clear any question as to why I brought it in the first place!)
The way I see it is, do I export it to Australia or do I sell it. I get to use the car for a maximum of 2 weeks each year when I return to see parents and friends but other than this, it sits locked up in a garage, covered up on a charger that kicks in when the battery gets too low… the car is however, started and moved back and forward once a fortnight to keep everything moving & circulating…
I've insured, taxed and serviced the car to show evidence of continuous use/ownership (12 months a requirement for importing into Australia), I own it (and have had it from new) so the only expense is my insurance, a years tax, servicing and depreciation. But what should I do... I'm back in the UK in December on holiday, but as its winter, it wont get used, maybe polished and loved but not driven too far if its frosty or there is salt on the roads… it’ll then be locked up until June/July 2008 when I come back again.
What would you do if you were in this position, Sell, Export or be extravagant and keep it in the garage for occasional use??
The way I see it is, do I export it to Australia or do I sell it. I get to use the car for a maximum of 2 weeks each year when I return to see parents and friends but other than this, it sits locked up in a garage, covered up on a charger that kicks in when the battery gets too low… the car is however, started and moved back and forward once a fortnight to keep everything moving & circulating…
I've insured, taxed and serviced the car to show evidence of continuous use/ownership (12 months a requirement for importing into Australia), I own it (and have had it from new) so the only expense is my insurance, a years tax, servicing and depreciation. But what should I do... I'm back in the UK in December on holiday, but as its winter, it wont get used, maybe polished and loved but not driven too far if its frosty or there is salt on the roads… it’ll then be locked up until June/July 2008 when I come back again.
What would you do if you were in this position, Sell, Export or be extravagant and keep it in the garage for occasional use??
Hi 7805,
I'm in exactly the same boat as you... but I'm based in Singapore.
I've had my 111R for two years now, but I moved to Singapore at the end of August this year. I decided to keep mine layed up in storage at my parents' locked garage, to use when I come back for holiday.
The only thing I can really say is that I'm pretty PISSED with UK insurance companies who are not flexible enough with their cover policies to cater for owners like us in this situation... it's costing me approx 500 quid a year for mine to sit there basicaly doing nothing just to maintain my NCB and that's even with a minimum 1000 mile limited cover.
Unfortunately... it's your call.
I'm in exactly the same boat as you... but I'm based in Singapore.
I've had my 111R for two years now, but I moved to Singapore at the end of August this year. I decided to keep mine layed up in storage at my parents' locked garage, to use when I come back for holiday.
The only thing I can really say is that I'm pretty PISSED with UK insurance companies who are not flexible enough with their cover policies to cater for owners like us in this situation... it's costing me approx 500 quid a year for mine to sit there basicaly doing nothing just to maintain my NCB and that's even with a minimum 1000 mile limited cover.
Unfortunately... it's your call.
Sell. It's depreciating more than it'd cost you to rent one for two weeks even before the cost of insurance, servicing, taxing it come into it. There's always the risk it could be nicked (hiking the insurance further) too. If you want one with you in Oz buy one there - it'll be much simpler in the long run. IMHO, it's only worth importing one with you if it had some sort of rarity value as when you come to sell it you'll either have to ship it back again or (probably) take a hit on the fact that it's not Oz spec. For instance, in the UK would you pay UK money for an Australian car?
aussie elises is the best place to ask, but they are fussy on the usage abroad as it gets tax and duty breaks. I know when Giles Cooper took his in they asked to see his passport and because he travelled on business they accused him of not using it. Think he said his wife used it when he was away to get round it a bit..... not a straight forward one..... which state you in?
not sure if this helpful, but...i brought mine back to australia (pick it up tomorrow - after compliancing and registration in qld). the process was incredibly straight forward; white & co uk shipped it, it was picked up by the compliancing firm after arrival and the job done in 6 working days. taxes and duties were in the order of AU$6000, compliancing and registration (inc stamp duties) AU$2400 +shipping at approx GBP1400. the car is a 2002 with a/c and 13k miles.
tony
tony
Maca said:
not sure if this helpful, but...i brought mine back to australia (pick it up tomorrow - after compliancing and registration in qld). the process was incredibly straight forward; white & co uk shipped it, it was picked up by the compliancing firm after arrival and the job done in 6 working days. taxes and duties were in the order of AU$6000, compliancing and registration (inc stamp duties) AU$2400 +shipping at approx GBP1400. the car is a 2002 with a/c and 13k miles.
tony
Maca - what value did you declare the car as? tony
(I'm an Ozzie here in the UK and contemplating doing the same... )
SELL. Do not attempt an import at all as I think you do not qualify. You must have owned the car for 12 months of active ownership. If you are in Oz and the car in the UK you are probably out of luck. Several links below -
this one on SELOC
http://forums.seloc.org/viewthread.php?tid=141590&...
On PH Australia Section - this one has links to DOTARS, the Aust Federal govt dept that watches over foreign car imports. May be worth giving them a call just in case.... If you do have luck after calling DOTARS start the import process but don't try to be cute with the paperwork either - follow the instructions implicitly.
http://www.pistonheads.com/gassing/topic.asp?h=0&a...
this one on SELOC
http://forums.seloc.org/viewthread.php?tid=141590&...
On PH Australia Section - this one has links to DOTARS, the Aust Federal govt dept that watches over foreign car imports. May be worth giving them a call just in case.... If you do have luck after calling DOTARS start the import process but don't try to be cute with the paperwork either - follow the instructions implicitly.
http://www.pistonheads.com/gassing/topic.asp?h=0&a...
It’s a tough call for sure and some valid points have been raised here... My insurance company (Elephant) isn't flexible at all to the circumstances, despite last years mileage being only a mere 300 miles they still weren’t prepared to reduce the policy, I have to admit, I only insure it to keep the NCB going and in case someone nicks it!
I am worried about the depreciation if I sell; looks like you can get a decent 111R for less than £20K these days and mines only done around 4500 miles… It’s a standard 111R touring without aircon so it’ll get a little warm during the hotter months I guess.
I'm going to do some sums to see if it’s worth it, taking into account the shipping costs it might just be cheaper to cut my losses and get something over here, although putting it into perspective, an Elise S 07MY is $79,000 (£35,000 approx!) over here!
Aussiebeano – you raise a very valid point, I'm going to send off the paperwork at the start of next year to see if I can get import approval, I guess if I get a ‘yes’ or ‘no’ from the government then at least it’ll help clear my thoughts a little but I suspect (even though I have changed passports in the last year) I'm going to struggle showing 12 continuous months of usage.
Maca – I'm in NSW (Sydney) I guess importing it would be a similar experience but the tax (stamp duty) would vary.
Ozzie Dave – Yep… receipts all in order!
Thanks guys, appreciate the thoughts on this one… its a tough decision!!
I am worried about the depreciation if I sell; looks like you can get a decent 111R for less than £20K these days and mines only done around 4500 miles… It’s a standard 111R touring without aircon so it’ll get a little warm during the hotter months I guess.
I'm going to do some sums to see if it’s worth it, taking into account the shipping costs it might just be cheaper to cut my losses and get something over here, although putting it into perspective, an Elise S 07MY is $79,000 (£35,000 approx!) over here!
Aussiebeano – you raise a very valid point, I'm going to send off the paperwork at the start of next year to see if I can get import approval, I guess if I get a ‘yes’ or ‘no’ from the government then at least it’ll help clear my thoughts a little but I suspect (even though I have changed passports in the last year) I'm going to struggle showing 12 continuous months of usage.
Maca – I'm in NSW (Sydney) I guess importing it would be a similar experience but the tax (stamp duty) would vary.
Ozzie Dave – Yep… receipts all in order!
Thanks guys, appreciate the thoughts on this one… its a tough decision!!
mahju said:
Maca said:
not sure if this helpful, but...i brought mine back to australia (pick it up tomorrow - after compliancing and registration in qld). the process was incredibly straight forward; white & co uk shipped it, it was picked up by the compliancing firm after arrival and the job done in 6 working days. taxes and duties were in the order of AU$6000, compliancing and registration (inc stamp duties) AU$2400 +shipping at approx GBP1400. the car is a 2002 with a/c and 13k miles.
tony
Maca - what value did you declare the car as? tony
(I'm an Ozzie here in the UK and contemplating doing the same... )
mahju said:
Maca said:
not sure if this helpful, but...i brought mine back to australia (pick it up tomorrow - after compliancing and registration in qld). the process was incredibly straight forward; white & co uk shipped it, it was picked up by the compliancing firm after arrival and the job done in 6 working days. taxes and duties were in the order of AU$6000, compliancing and registration (inc stamp duties) AU$2400 +shipping at approx GBP1400. the car is a 2002 with a/c and 13k miles.
tony
Maca - what value did you declare the car as? tony
(I'm an Ozzie here in the UK and contemplating doing the same... )
My old man did this about yrs ago!
he bought a brand new Lotus Esprit S3 (at the time worth more than his house!)
When he was promtly sent to Saudi for a few years for work, he left the lotus in storage.
To cut a long story short, the car hasnt been used pretty much since the late 80's, its been started/car-coon all the time!
very very low mileage!!!
Export it mate! shame to let it sit there! or keep it in storage and one day when you come back you'll have a prefect condition car!! nice car though!!
he bought a brand new Lotus Esprit S3 (at the time worth more than his house!)
When he was promtly sent to Saudi for a few years for work, he left the lotus in storage.
To cut a long story short, the car hasnt been used pretty much since the late 80's, its been started/car-coon all the time!
very very low mileage!!!
Export it mate! shame to let it sit there! or keep it in storage and one day when you come back you'll have a prefect condition car!! nice car though!!
Well... its good news... Today I’ve been informed my import application has been approved so the Elise is finally coming to Australia with me.
I basically put a heap of documents together when I sent the import application in, purchase documents, service receipts, insurance and just about everything and anything that I could find to prove what I needed to prove. I think providing the documents all tie up then its all good to go through (I was concerned though!).. I did however make sure it was all in an index order when I sent it to make sure they could work there way through the paperwork easily. I’m on a 457 work permit at the moment but with a residency application in the system, I think it all helps.
So, the first step in getting approval took from January 3rd to January 24th... this is the easiest bit, I'll keep you informed with the next stages. I’m using Karman shipping in the UK and Cargo online in Australia... just getting everything sorted out now but I don’t expect much change from $15,000...
Today is a good day!
I basically put a heap of documents together when I sent the import application in, purchase documents, service receipts, insurance and just about everything and anything that I could find to prove what I needed to prove. I think providing the documents all tie up then its all good to go through (I was concerned though!).. I did however make sure it was all in an index order when I sent it to make sure they could work there way through the paperwork easily. I’m on a 457 work permit at the moment but with a residency application in the system, I think it all helps.
So, the first step in getting approval took from January 3rd to January 24th... this is the easiest bit, I'll keep you informed with the next stages. I’m using Karman shipping in the UK and Cargo online in Australia... just getting everything sorted out now but I don’t expect much change from $15,000...
Today is a good day!
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