The Supercar Club

[JIT]

There are several options for personally importing a car to Australia, and they range from being extremely difficult through to being nigh-on impossible. It makes setting up a SMSF look like a day in the park.

The easiest option is if you have genuinely lived overseas for 12 months and owned a car for that time. You can then take that car back to Australia tax free and with no restrictions other than making it roadworthy.

Contrary to popular opinion, the taxes on importing cars aren't prohibitive in the slightest, if you're importing something that costs say about $40k overseas, it's the rules that stop you.

I was looking at buying a Porsche 911 in the UK for about 22k pounds. Back 2 months ago that worked out to be less than A$40k. The same car here would cost $110k-130k. However, even though the GST and import duty on such a car would have only added about $10k to the total cost and transport about $4k, the rules prohibit you from personally importing such a car, unless you've genuinely owned and used it overseas for the past 12 months.

It's almost enough to make me liveback in the UK for a year...almost, but not quite. However, if I was posted back in the UK, I'd definitely buy a car there and hold it for a year before shipping it over.

Thanks Jonathon,

That's very interesting.

The Ferrari 360 can be bought in the UK for under 50k pounds, or $91k AUD today!!

If I could somehow import one (by being non-resident for 12 mths), and split the cost b/w 2-4 people, it might work out quite cheap...

 

[Jonathon]

Thanks Jonathon,

That's very interesting.

The Ferrari 360 can be bought in the UK for under 50k pounds, or $91 AUD today!!

If I could somehow import one (by being non-resident for 12 mths), and split the cost b/w 2-4 people, it might work out quite cheap...

Find yourself an aussie in London who's going to move back home in about 12 months time - there are literally thousands of them coming back each month (just as many as leave to go there), preferably one that you trust, perhaps a relative, and get them to buy the car.

Holding costs of keeping the car in a garage in the UK for a year won't be much, ~6% interest on your PPoR offset mortgage, a pittance compared to the saving you'll make.

You could almost start up a little business as a broker, between intending purchasers here and aussies in London who'd like the cost of their transport back to Australia paid for!

 

[boods99]

You could almost start up a little business as a broker, between intending purchasers here and aussies in London who'd like the cost of their transport back to Australia paid for!

hmmmmm....very interesting idea jonathon...

<grabs calculator and phone book>

Boods

 

[attrill]

The same idea of hoding a car in the UK for 12 months occured to me also, but I couldn't see a way round doing it more than once. Enlisting the backpacker population is a great idea, but I would love to see the faces at customs when penniless travellers start importing Feraris regularly.

 

[JIT]

I dont think I could share the car with other people, especially if you are one of the people that has to foot the bill...

Some things in life are not for sharing, your wife/GF, your tool box and your car.

I think I might just save up and invest my cash and hope one day to pay for it and enjoy it alone.

Shared ownership or ''fractional ownership'' is the "smarter way to own"... according to this site!:

http://www.fractionallife.com/

 

[DavidMc]

I've checked out this club too.

Currently I'm on the hunt to import an R35 GT-R. Only a very rare few are eligible for import so I might do something like this if it doesn't work out.

 

[Y33]

Jonathon, Not as easy as what you think and there are a few restrictions people need to be aware of before going down the 1yr personal import. The car can not be garaged for the 12 months. If they think you have not driven it enough it can be knocked back for personal import. The rule also changes from November 2010 to one car every 5 years because of dishonest dealers and brokers who have ruined it for others.

The car must also meet ADR's for things such as child restraint anchor points.

If the value of the car exceeds approx (not exact figures but close) 50K you pay over 30% tax on the dollar over this range. You also pay GST and stamp duty on all costs associated including buying and shipping but there are ways around this.

If you don't mind something about 5 yrs old there are amazing bargains floating around especially in Japan.

David, if you mean the new GT-R it can be bought new in Oz from Nissan. Previously you could import new ones straight away for compliance but now that Nissan are bringing them in you have to find a new one built before February either 09 or 08 still sitting on alot somewhere for sale. The other option is to bring it in as a track vehicle not for road registration. Can get them as cheap as 60K + costs which is why they are becoming very popular amongst the racing community.

JIT, what are you interested in?

 

[Propertunity]

If I could somehow import one (by being non-resident for 12 mths), and split the cost b/w 2-4 people, it might work out quite cheap...

This reminds me of the Charlie Babbitt character played by Tom Cruise in the movie Rainman. (I think it all went pear-shaped for him )

But yes, it was only a movie not RL.

 

[JIT]

Jonathon, Not as easy as what you think and there are a few restrictions people need to be aware of before going down the 1yr personal import.

What about getting a waiver for this rule under the "Specialist & Enthusiast Vehicle Scheme (SEVS)", for certain cars? :

http://rvcs-prodweb.dot.gov.au/sevs/sevsindex.htm

Plenty of importable sports cars eg. Aston Martin's, Maserati's, Ferrari's and Lamborghini's on that list! (no Porsche though Jonathon, you might have to change your expectations!)

The above link was taken from here:

http://australia.wikia.com/wiki/BritVics/ImportingYourCar :

Specialist & Enthusiast Vehicle Scheme (SEVS)

If you have owned your vehicle for less than 12 months then you can try to have this rule waived and apply for exemption under the Specialist & Enthusiast Vehicle Scheme (SEVS).

Specialist & Enthusiast Vehicle Scheme (SEVS)

The SEVS Eligibility criteria can be found here, but in short even if your vehicle is on the list it doesn't mean that you can import it under SEVS. It means you might be able to if you can locate a Compliance Engineer/Inspector who has your vehicle on their official Schedule of Marques that they can modify/assure comply with the Australian Design Rules (ADR).

DOTAR SEVS Eligibility

The list of cars which currently fall within this bracket can be found here

SEVS Register of Specialist and Enthusiast Vehicles

In principle if you can find an Engineer who is authorised to comply your vehicle once it gets here and you can get them to provide a letter to that effect, then you submit this with your VBS10 to seek that they waive the 12 month rule. "

JIT, what are you interested in?

As noted above, but just toying with the possibilities at this stage.

 

[JIT]

This reminds me of the Charlie Babbitt character played by Tom Cruise in the movie Rainman. (I think it all went pear-shaped for him )

But yes, it was only a movie not RL.

I should have added... ''and somehow make it tax-deductible''!

 

[JIT]

These guys below could do the compliance on a Ferrari 360 for 23.5k:

http://www.modenaimports.com/Pricelist..pdf

So add this to a 91k AUD purchase price from the UK, plus some ancilliary costs, and you get about 115-120k AUD total.

It would cost you at least 160k, but up to 220k depending on the spec, to purchase one of these in AUS.

 

[The Y-man]

Probably relevant to point people back to an older thread.


Post #42 by someone who owned an F360

http://www.somersoft.com/forums/showthread.php?t=19571&page=3



Cheers,

The Y-man

 

[JIT]

Fantastic, thanks Y-man, I've printed that thread out to have a read!

 

[Y33]

JIT, be careful of places offering cheap compliance to get you in the door. Did you notice the bit about parts etc, which is often not included in the first price. The problem with sevs is finding someone to comply the vehicles on the list using a raws evidence package. Most dealers only go for popular vehicles they can buy cheap from overseas and then try too turn a buck. An example of this is the GTO, Delica and Skylines all done under the sevs rule. There are some that do specialize in high end vehicles but they always seem to add on a few extra dollars.

I know where Peter is coming from about ferrari's cause I'm the same with rolls. Once you have owned a certain type you always look for another. Living in Japan I've had the pleasure of owning quite a few nice cars at a fraction of the price I would have to pay in Oz.

 

[JIT]

JIT, be careful of places offering cheap compliance to get you in the door. Did you notice the bit about parts etc, which is often not included in the first price. The problem with sevs is finding someone to comply the vehicles on the list using a raws evidence package.

You're probably right.

I've read on this forum below figures closer to 40-50k to get these sorts of cars on the road in AUS.

www.aussieexotics.com

These guys below are quoting ''25k+'' or so drive away:

http://www.sportsandprestigeimports.com/allowable.html
http://www.sportsandprestigeimports.com/

 

[JIT]

On further research, the SEVs route for importation doesn't seem financially worthwhile (ie. landed cost on a F360 is closer to 150k!, with lower re-sale prices and harder to re-sell):

http://www.ferrarichat.com/forum/showthread.php?t=170586
http://www.ferrarichat.com/forum/showthread.php?t=266716
http://www.ferrarichat.com/forum/showthread.php?t=207090&highlight=import

(that's a great forum btw)

I'm not inclined to buy an IP in Sydney (/interstate), so buying a car from the UK is even less likely!

Purchasing an already imported car, that's well maintained, at below value compared to ''non-imports'', mainly due to the ''import'' stigma, may be an option though (presuming I don't plan to sell it anytime soon).