Have you ever seen a vehicle on the internet or in a movie that you can only find in other countries and wanted to own it for yourself? There are plenty of great vehicles on the global market waiting on the right potential buyer to drive (or ship) it home. However, importing a car is more difficult than purchasing a car from a foreign seller and having them put it on a boat bound for the U.S.
Cost is one of the most important things to consider when importing vehicles from across the pond. In this article, we’ll talk about some of the costs that come with importing a vehicle. Buckle up.
You have to pay importation costs.
As you can imagine, you have to pay a fee to have a company ship your car overseas to you. Plenty of vehicle importers promise cheap prices. However, it’s wise to go with the company that has the best reputation for good shipping practices and excellent customer service. After all, this is the company that will be bringing your vehicle to American soil, so you can’t be too careful.
Plenty of people buy cars in Nigeria from the U.S. and Europe. They often purchase their vehicles directly from the manufacturer to expedite the process. When you work directly with a foreign manufacturer instead of a car dealership, the manufacturer might help you with the importation process.
The type of vehicle you purchase will factor into the cost of importing it. Compact cars are the cheapest to import, and trucks and SUVs are the most expensive. Small cars can ship for under $1,000 while SUVs and trucks can ship for up to $5,000.
You also have to pay duty on new cars imported to the United States.
Another thing to consider when buying a new car from a foreign online marketplace is that you have to pay a port-of-entry fee (or duty). Think of this fee as a tax for importing your vehicle.
It’s important to ensure your vehicle is clean with no foreign soil in the undercarriage or any other part of the car. You also need to make sure your vehicle meets EPA emissions regulations before importing it. It’s especially important to thoroughly inspect your vehicle if you purchased it from an online auto auction.
Ultimately, the duty you pay at the port will depend on the type and cost of your vehicle. Cars and motorcycles draw about a 2.5 percent duty. Trucks and SUVs, on the other hand, accrue about a 25 percent fee.
It’s wise to consider working with a customs broker.
Importing a vehicle from a foreign country can be an arduous and expensive process. Working with a customs broker to import your vehicle will take the headache out of the process. Indeed, you’ll have to pay for brokerage services, but it could help you save money and time in the long run. Shop around and speak with representatives from different customs brokerage firms to ensure you get the best deal and service.
Much the same way you would go to The Mather Group, LLC to help you with marketing budgeting and spending, you go to a customs broker to help you with the importation process. They have relationships and resources that make the process much simpler.
Car buyers can purchase new and used cars from all over the world in today’s global economy. Importing vehicles allows you to find vehicles you can’t get from private sellers and car dealers in the U.S. Of course, there are a bunch of benefits of buying local, but sometimes you have to go the extra mile to get the car of your dreams.
Do your due diligence before choosing a shipping company to import your vehicle. With a little footwork, you can find an import company with a good reputation and affordable prices. Now, you’re ready to begin car shopping abroad!