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This
is an Insurance article by an independent author and jml
Insurance takes no responsibility for its accuracy or content
Buying
& Insuring Imported Cars - Top Tips To Save Money
By Duncan
Hall
With
new cars in the UK coming at high prices, it's not surprising
that many people turn to importing vehicles from other countries.
If you are prepared to put in the effort it can save you a
lot of money, but there are many things to be aware of when
considering importing a car.
The Law
European Law prohibits any manufacturer from preventing an
EU citizen from purchasing a vehicle at the pre-tax price
in any other EU country. What this means is that there's nothing
stopping you from buying a car from anywhere within the European
Union.
There are also no holds in place to prevent you from importing
a car from America. However, bringing a car over from the
states will cost you an extra 10% import duty as well as the
standard 17.5% VAT.
Vehicle Specifications
One of the main things to be careful with when importing a
vehicle to the UK is the standard and specifications of the
car. Many vehicles which appear to be exactly the same can
have subtle differences from country to country. Items such
as headlights, steering wheels, mirrors etc. must meet the
UK specifications if you want to be able to drive it over
here. Find out which fittings come as standard as this can
also vary from country to country, and make sure you get all
details and
specifications in writing from your dealer. Also remember
to specify that you want a right hand drive vehicle.
Ensure that the car comes with an EU "Certificate of Conformity"
approval to allow you to register the vehicle in the UK. Imports
from America must pass the Single Vehicle Approval regulations
(SVA).
Payment & Hidden Costs
When importing a car, it is worth being as secure as possible
when parting with your money. Many dealers will ask for a
large deposit up front, which you are unlikely to receive
back if the dealer goes bust. For this reason it is advisable
to pay by credit card so you have payment protection cover.
Before making any deal however, and parting with any cash,
you should consider all the costs involved
with purchasing and transporting the vehicle over to the UK.
Will it really save you as much money as you hoped?
There will be a standard addition of 17.5% VAT for all cars
purchased and brought into the UK, and as mentioned above,
an additional 10% Import tax when buying from America. On
top of this, you must consider shipping costs, shipping insurance
while your vehicle is in transit, and the possibility of the
increased cost of imported
car insurance.
Shipping & Registering
Arranging shipping for your vehicle can be expensive, but
their are a lot of companies that specialise in these services
so shop around for the best price. Alternatively, you can
travel to the dealer and drive the car back yourself if you
really want to try and save a bit of extra money. You will
require 'transit' or temporary plates for the journey home
which will last a month and won't set you back too much. You
also need to make sure you have insurance while travelling
back.
Once the vehicle has arrived in the UK, it must be registered
and taxed as soon as possible. The vehicle should not be used
or kept on public roads until the registration and vehicle
tax formalities have been completed. The only exception to
this is if the vehicle requires an MOT or an SVA, in which
case to vehicle may be driven to the pre-arranged appointment.
Once your vehicle is road legal, the only thing left to do
is arrange insurance
for your imported car.
For
more information on importing vehicles, and to get deals on
insurance for imported cars, visit QuoteA,
a specialist in modified and imported car insurance.
Article
Source: http://EzineArticles.com/?expert=Duncan_Hall
The
information supplied on this page is by a third party and
jml Property Services do not take any responsibility to its
accuracy ©jmlpropertyservices 11/06
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