Importing - North America vs Europe

[GCorvette]

Greetings.

Currently I have a copious amount of time to do nothing but research and thinking and having to re-evaluate my next Corvette move.

Can anyone confirm if importing a car from Europe is now any less expensive than bringing one over from North America?

Thanks in advance.

 

[Nassau65]

As far as actual getting the car from point A to the UK, Europe is probably cheaper. This refers to the actual cost of getting the car to the UK. Of course it will depend on what part of Europe it’s in. You can of course collect the car yourself, fly in, drive it home etc. We have done this a few times, as well as delivering a car to its new European owner.
As we are no longer in the EU, the same taxes apply to the import from the EU/USA.
As for overall price, it will depend on the price of the car to start with. Shipping across the pond has become a lot more expensive than it was, along with overland US transport cost to port.

 

[GCorvette]

As far as actual getting the car from point A to the UK, Europe is probably cheaper. This refers to the actual cost of getting the car to the UK. Of course it will depend on what part of Europe it’s in. You can of course collect the car yourself, fly in, drive it home etc. We have done this a few times, as well as delivering a car to its new European owner.
As we are no longer in the EU, the same taxes apply to the import from the EU/USA.
As for overall price, it will depend on the price of the car to start with. Shipping across the pond has become a lot more expensive than it was, along with overland US transport cost to port.

Thank you.
If you are driving the car into the UK at what point do you pay the import / VAT etc?

Can you kindly recommend any European sites to monitor for cars?

 

[Nassau65]

Haven’t imported a vehicle from Europe (EU) since we left the union, but I now assume it’s like the old days. You were directed to the customs “shed” where vehicle and documents were inspected, your agent completed the necessary paperwork, and payment was due before vehicle was allowed to leave. At one time you could defer tax and pay at your local tax office leaving with the vehicle. But they stopped that. When we were in the EU, you just sailed through.

 

[Roscobbc]

As a 'casual' observer it seems that any Corvette for sale in Europe seem to be priced significantly higher than in UK. Add import, VAT and shipping and it looks rather grim.....

 

[GCorvette]

Haven’t imported a vehicle from Europe (EU) since we left the union, but I now assume it’s like the old days. You were directed to the customs “shed” where vehicle and documents were inspected, your agent completed the necessary paperwork, and payment was due before vehicle was allowed to leave. At one time you could defer tax and pay at your local tax office leaving with the vehicle. But they stopped that. When we were in the EU, you just sailed through.

Thank you.

Apart from the obvious 'getting the car I want', from a sales point of view, it seems that the C6 and C7 do not currently make financial sense to bring in.
I'd have no plans to resell but I'd lose considerably if I did given the 35-38% costs above sticker price.

It's certainly a consideration and potential deal breaker but given I can't get what I want here, it's a take it on the chin or walk away decision.

 

[Nassau65]

American cars have been more expensive in the EU than the UK for many many years now. That’s why they were being bought here and taken there. It made sense to them as we were in the EU, so no additional taxes.
the obvious looking place is the US for late model Corvettes or possibly Dubai, downside to the US route is high purchase price against a not very favourable exchange rate.

 

[GCorvette]

the obvious looking place is the US for late model Corvettes or possibly Dubai, downside to the US route is high purchase price against a not very favourable exchange rate.

I thought I had read somewhere to avoid Dubai imports.
Is that not the case and is there any tax or duty benefit to doing so over America?

 

[Chevrolet]

Can you kindly recommend any European sites to monitor for cars?

As a 'casual' observer it seems that any Corvette for sale in Europe seem to be priced significantly higher than in UK. Add import, VAT and shipping and it looks rather grim.....

https://suchen.mobile.de/fahrzeuge/search.html?dam=0&isSearchRequest=true&ms=6325;10&ref=quickSearch&sfmr=false&vc=Car

On this website, there are less nice low miles/kms Euro spec C7s than there used to be. Maybe the owners are keeping them until the C8 arrives, or just keeping them period?

 

[GCorvette]

https://suchen.mobile.de/fahrzeuge/search.html?dam=0&isSearchRequest=true&ms=6325;10&ref=quickSearch&sfmr=false&vc=Car

Thank you!

Having looked at a few C6s, it seems Europe would be about £6000 than more over the same from the USA with the only benefit being to drive it home.

 

[Nassau65]

When I’m looking, I just type in whatever make I’m looking for for sale in Germany, France etc. Germany is now very expensive for Corvettes, no bargains to be had there. Same for most of Europe.
The states is still the place for them, big choice and very contrasting prices, depending on whose selling it. The specialist dealers are and have been always top dollar, and most times the car is NO better than a private seller.
Try to find one as close to the coast as possible, less overland to port transport costs.

 

[TimP]

I imported my 72 Corvette in 2019 from the US and kept a record of the costs incurred along the way. If you are interested or have any questions about the process I used then I'll be happy to help.

 

[62 C1]

Keep an eye on the exchange rate trend too. GBP has been overall improving vs EUR and worsening against USD over the last year so timing might making a few % difference. Also there is no substitute for seeing and driving a car yourself so a day trip to Europe may be more feasible though the US will give more choice.

 

[Nassau65]

Only difference will be is that on your 72. , you paid no import duty and a reduced rate of VAT at 5%. On a C6 you will pay 10% duty and 20% VAT.

 

[GCorvette]

Only difference will be is that on your 72. , you paid no import duty and a reduced rate of VAT at 5%. On a C6 you will pay 10% duty and 20% VAT.

That makes a big difference between Corvette generations.

What year does the 5% rule currently apply up to?

 

[Nassau65]

That makes a big difference between Corvette generations.

What year does the 5% rule currently apply up to?

Cars 30 years old have the reduced rate of VAT. As you say , that makes a very big difference in tax due

 

[Nassau65]

If you look at what’s been imported over the last few years, most of the vehicles fall into the “historic” category, ( those 30+ years old) to qualify for the no tax/5% VAT band.

 

[maudyz28]

Germany prices have really gone up, and NL is also very expensive (places I live and current am based in). In DE they really are obsessed with the EU spec from new, whereas i'd estimate 90% of the US cars are smashed and fixed somewhere and then sold in DE for a large markup. Best one I went to see - was 15000 above the copart price they paid - obviously smashed and I called them out on it.

Alas, I know if you buy from NL you can apply for the tax back, its all paid up front, so you get more back for a newer car, but of course the asking price is more as it covers the seller (who paid that tax). Then the good old import to the UK. I'm not sure how it'd work in DE, but i'm sure you are able to claim the VAT back as you are leaving and exporting. Then you just pay it back to UK gov.

I actually got my US spec direct from a military guy in DE, but he'd brought his car (i.e. shipped it from FL), but as a DE resident I had to then tax it at the sale price. It was a hassle but worked well. There are a few DE cars you might see that are military sale and under the premise they have no tax paid anywhere - you'd be lucky to find one and bring to UK, but would need to be trailed. I recent drove to UK to visit, in my DE registered car and no-one batted an eyelid, maybe different if you drive in on temp EU plates.

 

[Nassau65]

As fax as any form of taxation due in our country, it’s exactly the same on vehicles from either the United States or any other country in the world now we are no longer a part of the EU. 10% + 20% VAT ( to include shipping costs) vehicles over 30 years old VAT only at a reduced rate of 5%.

 

[Nassau65]

The Netherlands used to be a good supply of cheap US vehicles in the 70’s and 80’s ( along with Belgium) then they altered their taxation system and they got expensive to buy and use for their population, and the Germans became very popular.