Car Import costs - are our local cars for sale overpriced?

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Buckaroo
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Re: Car Import costs - are our local cars for sale overprice

Post by Buckaroo » Thu 19 Nov 2015, 14:22

But remember as matters now stand you have zero chance of getting the required LOA from NRCS as they require proof of Euro compliance for every car irrespective of age etc.
That means it is impossible to register the car even if it has been converted to RHD.
www:amcarimports.co.za : New 67/68/69/70 RHD Mustang Fastbacks, Restomod: RHD 65-70 Mustangs, RHD Chevelle coupes, RHD 68 Camaros.
Amcar Imports : RHD 2012/13/14 Mustangs and Shelbys, F150 Raptor
Dynacorn Bodies.

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jlebenon
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Re: Car Import costs - are our local cars for sale overprice

Post by jlebenon » Thu 19 Nov 2015, 14:37

I'd like to ask Willem how and why he's importing cars if the NCRS aren't issuing documents or is he importing them as spares or scrap or what because everyone seems to have a different story
2006 lumina ute
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brennan67
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Re: Car Import costs - are our local cars for sale overprice

Post by brennan67 » Thu 19 Nov 2015, 16:27

jlebenon wrote:I'd like to ask Willem how and why he's importing cars if the NCRS aren't issuing documents or is he importing them as spares or scrap or what because everyone seems to have a different story
+1

and

Buckaroo..? as he is importing as well....

brennan67
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Re: Car Import costs - are our local cars for sale overprice

Post by brennan67 » Thu 02 Jun 2016, 13:52

Ok there was a recent post on Facebook about one of our favourite subjects so I thought I would bring it here to share with everyone on the forum.

We were discussing the costs of importing a car from USA and the costs and what would the FACTOR be that you needed to multiply the USD price to get a Rand price??

Based on this discussion I decided to put the costs that I knew of into a spreadsheet and do some calculations on different price point cars.
Below are the results :
Screen Shot 2016-06-02 at 1.36.54 PM.png
Screen Shot 2016-06-02 at 1.36.54 PM.png (72.92 KiB) Viewed 727 times
As you will see the "sweet spot" for most bang for your Rand (at current exchange rate) is bringing in a car between $30 000 to $50 000. This will give you a factor of 26.05 to 25.92. More expensive cars are hit with high Ad Valorem % costs and cars cheaper than $30k the fixed costs such as container and transport and permit costs start making it expensive ! As seen a $5000 junker will push your factor to 37.. ouch !

So it begs the question, why are people bringing in these junkers and why are more people not bringing in already restored cars in the $30k to $50k bracket ? Because besides the fact you are getting a high standard USA built ready to go car you are also paying a lower factor as well as you dont need to pay all the repeated airfreight parts costs which you will need once you start restoring it ?

One of the arguments will be the LHD issue and the LOA and NCRS, but pre 66 cars are ok to remain LHD and going to the right people can get you the permits req. I ask myself would I rather have that pain in the @ss than deal with the majority (not all) of local car builders in SA.

TIMOTHY MUDALI
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Re: Car Import costs - are our local cars for sale overprice

Post by TIMOTHY MUDALI » Thu 02 Jun 2016, 15:41

hi there
not all work done in the states is of a high quality and top grade.i have seen some restored cars come in and they are pathetic.in all parts of the world you are going to get scammers.they also have bondo in the states :lol:
i had a guy try and import a car which he paid for and still hasnt received it.

its more the luck of the draw.i know many guys are up in arms with local body shop guys.but what do u do.
like i say.
do it yourself.at least if it is a flop,you can kick yourself

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barrydorr
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Re: Car Import costs - are our local cars for sale overprice

Post by barrydorr » Thu 02 Jun 2016, 16:24

seen the discussion on Facebook aswell however i refrain from commenting on this hot topic subject.
However I am impressed with you spreadsheet that gives a very nice overview of costs, well done

now... can you borrow me R781.575,- to import that 30.000 USD car I want please? :lol:
My Toys:
1974 Opel Manta 1900 DL
2008 Mitsubishi Outlander

1972 Toyota Corona MKII 1600 - Bakkie (SOLD)
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brennan67
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Re: Car Import costs - are our local cars for sale overprice

Post by brennan67 » Thu 02 Jun 2016, 21:32

TIMOTHY MUDALI wrote:hi there
not all work done in the states is of a high quality and top grade.i have seen some restored cars come in and they are pathetic.in all parts of the world you are going to get scammers.they also have bondo in the states :lol:
i had a guy try and import a car which he paid for and still hasnt received it.

its more the luck of the draw.i know many guys are up in arms with local body shop guys.but what do u do.
like i say.
do it yourself.at least if it is a flop,you can kick yourself
Tim,

Yes sure you are going to get poor restorations as well in USA but like for like quality of work/ restored car I am of the opinion its cheaper than local factoring all the costs.

I would also say that the level of products avail in USA especially on bodywork side and paint is of higher standards than what is used here.

You take out luck of the draw by using guys like Ash and/or going over yourself. I mean R20k is a good spend on a flight and a few nights accommodation to go inspect the car. maybe I should add that to my costing spreadsheet ! lol

I am going to post a few examples of cars to back my point ;)

brennan67
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Re: Car Import costs - are our local cars for sale overprice

Post by brennan67 » Thu 02 Jun 2016, 21:53

Screen Shot 2016-06-02 at 9.36.58 PM.png
Screen Shot 2016-06-02 at 9.36.58 PM.png (302.88 KiB) Viewed 678 times
$20 000 gets you a very nice 65/66 Mustang coupe all day long. Based on my spreadsheet thats R535 880 landed. Seen recent ones for R650k been advertised in SA
Screen Shot 2016-06-02 at 9.46.09 PM.png
Screen Shot 2016-06-02 at 9.46.09 PM.png (351.8 KiB) Viewed 678 times
$32 000 gets you a 67 FB. Based on my spreadsheet thats R780 000 landed. Local FB guys are pushing for R1m these days.
Screen Shot 2016-06-02 at 9.51.36 PM.png
Screen Shot 2016-06-02 at 9.51.36 PM.png (205.46 KiB) Viewed 678 times
$35 000 gets you a great Camaro too ...

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barrydorr
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Re: Car Import costs - are our local cars for sale overprice

Post by barrydorr » Thu 02 Jun 2016, 23:01

Just thinking about the exchange rate used, sure I understand it is 15.6 today.

But I believe a realistic value of the rand should be more around the 11-12 (not starting a political discussion as to why) but see how big difference you get when you use 11 as an exchange rate. or even just lower it to 13...

60.000 --> 13 --> 780.000 (156.000 difference 8O )
30.000 --> 13 --> 390.000 (78.000 difference)

But you point is proven already with you 15.6 --> cars in SA are overpriced
My Toys:
1974 Opel Manta 1900 DL
2008 Mitsubishi Outlander

1972 Toyota Corona MKII 1600 - Bakkie (SOLD)
1991 Opel Kadett GSi 2lt-16V Superboss (SOLD)

TIMOTHY MUDALI
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Re: Car Import costs - are our local cars for sale overprice

Post by TIMOTHY MUDALI » Fri 03 Jun 2016, 07:47

hi there.lets look at that 67 fastback at 32900 us dollars at our rate of 15.9 and lets say its in california.out going rate is higher than incoming.fact.so it will work out at 16.5.you pay 542850 rands.ship to port will be approx 2000 us and agency fee will be 3000 us dollars.you will pay 4.95 percent card and forex charges.approx 1665 us.to ship will cost approx 3000 us depends on line and sharing etc. you have 42561 us dollars. approx R702225.

UPON ARRIVAL
you will pay customs 29 percent on value of car 157426
you will pay vat 14 percent 75999
you will pay clearing agent 12500 approx
if customs inspect 12500 per day demurrage 25000 for 2 days itacand loa permit which can take up to 3 months 6000
storage in usa while permits obtained 250 us a month 12000
u need to buy car first to get permits etc.

total 288925 plus 702225
R991150 south african rand

that is now the figure you will pay realistically for that 32900 fastback
those are actual costs that you will pay leaving out all the hidden costs that creep up like sudden hyster use,sudden offloading charges,use of their offloading area if u dont have one etc etc

i hope this sheds more light on this very debatable topic
tim

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