It’s no surprise that people are increasingly turning to import vehicles from foreign countries because of the high cost of new cars in the UK. It can be a great way to save money if you’re willing to work hard. However, there are many things you should consider when you import a car.
The Law
European Law forbids manufacturers from prohibiting EU citizens from buying vehicles at pre-tax prices in other EU countries. This means that you can buy a car anywhere in the European Union.
You can also import a car from America without any restrictions. You will be charged an additional 10% import duty and 17.5% VAT if you bring your car from the US.
Vehicle Specifications
When importing a vehicle into the UK, it is important to check the specifications and standard of the car. Even though many vehicles appear identical, there may be subtle differences between countries. Headlights, steering wheels and mirrors are just a few of the things that can vary between countries. If you wish to drive your car over to the UK, it must comply with UK standards. You should find out what fittings are included as standard, as these can vary between countries. Also make sure to get all specifications and details in writing from your dealer. Make sure you specify right-hand drive.
To be able to register your vehicle in the UK, ensure that it comes with an EU Certificate of Conformity. All imports from America must be approved by the Single Vehicle Approval regulations.
Payment & Hidden Costs
It is important to be as secure as possible when importing a vehicle. A lot of dealers will require a large deposit upfront. This is unlikely to be refunded if the dealer goes bankrupt. It is best to pay with a credit card for payment protection.
Before you make any deal and part with any money, consider all costs associated with buying and transporting the vehicle to the UK. Is it going to save you as much as you thought?
All cars imported into the UK will incur a 17.5% VAT standard charge and an additional 10% import tax if purchased from America. You should also consider shipping costs and insurance for your vehicle while it is being transported.
Shipping & Registering
Although shipping your vehicle can be costly, there are many companies that specialize in this service. Make sure to shop around to get the best deal. If you want to save some money, you could drive your car to the dealer. Temporary plates, also known as transit, will be required for your return trip. They will last about a month and will not cost much. Also, you should make sure that you have travel insurance.
After the vehicle arrives in the UK, it should be registered and taxed immediately. After the registration and tax formalities are completed, the vehicle must not be driven or used on public roads. Only exceptions to this rule are when the vehicle needs an MOT/SVA. In these cases, the vehicle can be driven to the appointment.
