In the United States, online dealer auctions for used cars have completely changed the game when it comes to buying a vehicle. Gone are the days of having to travel from dealership to dealership looking for the right vehicle. Gone are the days, too, of paying obscene markups on these vehicles! Thanks to online auto dealer auctions, consumers can now save thousands on the purchase of a used car.
But, these online dealer auctions aren’t just open to consumers in the United States. They’re open to everyone! That’s why people from around the world have been using them to buy used cars on the cheap. If you’d like to use dealer auctions to buy a used car for import, then here are the things you’ll need.
The Essential Documentation
When importing a used car from a dealer auction in the United States, you’ll want to make sure that you have a valid Certificate of Title for the vehicle. In addition, you’ll want to retrieve any documentation that can help to establish the value of the vehicle for duty and tax purposes. As you search, beware of “Bill of Sale” vehicles, as there are often too many hoops to jump through in order to get a clear title for these vehicles.
Documentation Required by Your Country’s Customs Authority
The online dealer auction site you work with should be able to ensure you clear U.S. customs. However, they will not be able to assist when it comes to clearing customs in your country. For this reason, be sure to research what documentation will be required by your country’s customs authority.
Generally speaking, there are several documents that most countries require. In addition to the Certificate of Title, you may need to present a Bill of Sale, the U.S. vehicle registration, proof of insurance, and more.
Researching Import Restrictions for Vehicles in Your Country
Every country has different rules when it comes to what kinds of used cars are and are not permissible for import. Again, consult with your country’s customs authority to find out what restrictions are in place. Most often, you’ll find that countries will restrict the age of which a used car can be, with exceptions made for classic vehicles. Beyond this, you’re also likely to encounter rules that pertain to emissions and vehicle safety.
Getting a Handle on Import Duties and Taxes
Finally, be sure you have a handle on import duties and taxes for your country. The extent of these will often make or break whether or not importing a used car from the United States is cost-effective or not.
Do note that sometimes duties and taxes are tied to particular aspects of a vehicle. For example, some countries have a sliding scale based on engine displacement or vehicle weight. In other instances, you might find lucrative duty and tax breaks for hybrid and electric vehicles.
Preparation Is Paramount when Importing Used Cars
In order to get the true value out of online auto dealer auctions when importing used cars, you must do research. So, be sure to look into all of the above, as this will prepare you to enjoy the same kinds of savings on used cars enjoyed by your American counterparts.