Many of those who are buying cars at auction are from outside of the United States, with quite a few of those people being Russian. Auctions are an excellent way for people to find the types of vehicles they want at decent prices. However, they have to consider how they will get the vehicle from the US to Russia.
Those who need to export a vehicle to Russia will find that this can become expensive. Thankfully, it is possible to save enough on the actual cost of the vehicle when buying from an auction to balance the costs.
What Are the Fees?
When you export a vehicleto Russia for commercial or private use, you will have to pay an import tax. This tax is generally 25% of the vehicle’s value, and you will have to make sure this gets paid at customs before the vehicle is allowed into the country.
Also, you will have to pay the value-added tax, or VAT. This is approximately 20% of the vehicle’s value.
Even though you might be paying as much as 45% to get the vehicle into the country, you will often find that it is much cheaper than importing a new vehicle. Of course, you should always do the math to understand exactly how much you will be required to pay when you export a car to Russia after buying at an online auction. This can give you a better idea of whether the vehicle you are after is worth it from a financial standpoint.
Something that you need to keep in mind is that the duties, taxes, and rules at customs can change, so whenever you export a vehicle to Russia, it is important that you check with customs to learn the latest regulations and payments.
Make It Easier to Export a Vehicle to Russia
When you are searching for a car at an online auction, you could find that working with a third party company that does all of the bidding for you can be a good option. They can bid on and win the vehicle for you, and they can ship to a port near you. They can also let you know everything you need about the most recent taxes and fees you will have to pay when you export a car to Russia. It spares you any confusion or guesswork.
Registering the Vehicle
Once you have the vehicle, you will have to go through the same process of registering it as you would if you bought a new car. You will have to go to the State Road Traffic Safety Inspectorate in your area to complete the registration on the vehicle. Upon registration, the owner will receive a Vehicle Import Acknowledgement Certificate. This allows the owner to use the vehicle in the country.
It is also essential to have insurance for the vehicle that you export to Russia. In many cases, the owner can arrange to have the insurance taken care of when going through customs, so the owner can drive it as soon as it is registered.
They will need to have an OSAGO policy, which needs to be carried whenever driving. In order to obtain the insurance, the owner will need proof of identity, a license, and the vehicle registration. The owner will also have another form called a Notice About Accidents. If the driver is ever in an accident, they will have to update this form at the scene of the accident and then send it to their insurance company.
The OSAGO policy is not the only type of insurance that drivers in Russia have available, but it is important to remember that the agreements and policies with Russian insurance companies are often vastly different from one to another.
Different types of vehicles may have different requirements. Other forms of insurance available include voluntary civil liability insurance, comprehensive and collision, additional equipment insurance, and driver and passenger insurance against accidents.
Is It Worth It to Export a Vehicle to Russia?
While you will have to pay fees to get your vehicle into the country, buying a salvage car through an auction is still a very good option. You can export a car to Russia that you’ve purchased for far less than you would most other vehicles, and this helps reduce the amount of fees that you have to pay when the vehicle arrives in customs.
This makes it possible to get the vehicle you want for a price that’s still right. Make sure you check out all of the available online auctions to see what they are offering, and research the vehicles as much as possible before you decide that you want to put in a bid on.
Read Maket Reports for Selected Other Countries. Explore our Vehicle Auctions and find info on Buying With Us.
Comments