About Car import

Myhonda

Hi Everyone,

I wanted to Start a small business which i think most of the people would have tried before.As i want to get the cars from Japan and sell them here for a bit of profit.I know my self that due to recession car price's have fallen.
Please give me some advice on my following doubts :
1) All i know about importing a car from japan is that i have to pay VAT AND 10%Custom on the port . Are there any addistional charges except Vrt?
2) When Registring a car in the vrt office are they concered that i have to be a Car Dealer to do this?
3) Am i breaking any law?
4) Do they want to see vat and Tax recipt when registring car?
5) Can they increase the Vrt Rate by going through the Vat and Tax recipt.
6) Automatic Transimion/ Japanese Import cars have better resale value then the local cars?
7) Are they in Demand even when its recsion?

I hope some one will help me as i cant find answers of these questions.

Cheers.

Mick K

Your about 12 years too late for the import trade OP

Myhonda

Thanks for replying ,,,

But its never Too late to take a step .As some people are born before and

some are after..

Atomic Pineapple

Its not commercially viable to import cars from Japan anymore, the exchange rate with the yen has gone the wrong way and its now cheaper to buy a car thats in Ireland already.

The only market for importing cars these days is for specialist/rare cars or highly modified performance cars.

That market is small and theres already too many people trying there hand at it

Henry Ford III

Myhonda wrote: »

Hi Everyone,

I wanted to Start a small business which i think most of the people would have tried before.As i want to get the cars from Japan and sell them here for a bit of profit.I know my self that due to recession car price's have fallen.
Please give me some advice on my following doubts :
1) All i know about importing a car from japan is that i have to pay VAT AND 10%Custom on the port . Are there any addistional charges except Vrt?
No charges only additional costs. Insurance and freight.

2) When Registring a car in the vrt office are they concered that i have to be a Car Dealer to do this?

Yes. If you are a dealer you must keep accounts etc. Your RSI no. is noted btw.

3) Am i breaking any law?

Subject to the above, no.

4) Do they want to see vat and Tax recipt when registring car?

I'd say so.
5) Can they increase the Vrt Rate by going through the Vat and Tax recipt.

They can assess any car individually.
6) Automatic Transimion/ Japanese Import cars have better resale value then the local cars?

I'd have said not.
7) Are they in Demand even when its recsion?

The car business is in serious trouble. People still need transport however. if your product is good, and good value, there will always be a demand.

I hope some one will help me as i cant find answers of these questions.

Cheers.

HTH

Myhonda

Thanks For your advice.

Really Appricate

Myhonda

Do i have to pay any Tax or will they be able to know that im getting cars from japan only for selling purpose.
Say if im getting around 3 to 4 cars per month.

Henry Ford III

Yes. Income or Corporation Tax on the net profit.

meesa

Sorry to rain on your parade Myhonda but as other posters have indicated there is little or no market for what you are proposing here.
Firstly the bottom has fallen out of car sales secondly if there was any chance of making any profit in this every motor trader would be at it and as you probably know there are lots of them struggling just to survive at the moment.
Just my two cents worth but i`d hate to see anyone attempt to start up a business that is almost a certainty to fail.

alias no.9

Round about the turn of the millenium this industry was teetering on the brink regarding its financial viability. The Euro v's the Yen is trading now at roughly the same as what the IR£ was against the Yen back then, thats 20% swing against the business from a point where it was teetering on the brink. The new VRT regime will, for the most part, work against you.
This ship has not only sailed, it's sunk.

-Chris-

No offence Myhonda, but you don't seem to know enough about the Irish car market, never mind buying or selling a car.


You need to do a LOT more research on this, and maybe buy and sell a few cars in Ireland first, before you put any of this plan into action.


Seriously, you will get badly burned to the tune of thousands of Euro if you don't get to grips fully with the market.

G Luxel

draffodx wrote: »

Its not commercially viable to import cars from Japan anymore,

....
ok just saw a 08 D Suzuki Swift with square plates and the JDM aerial thats similiar to the Tiida....they must be very cheap to import and re-sell..

-Chris-

Have you done the sums, or is seeing one enough to verify that it's a viable business for the OP to sink their hard-earned cash into?

Don't mean that in a harsh way, but I think it's worth asking...

mickdw

Dont do it. Its not the time to be getting into this. There are many specialist importers already bringing in the few high performance cars that arent available here. You have less than basic knowledge of the tax & import system and I would think it would be a serious failure leaving you burned.
Try starting at a low level here and see if you can make money

cascade35

Have you considered buying cars from auctions and selling them on at a profit? I have not been to an auction recently but i believe there is a lot of cars going through that were taken back by finance companys.

Might be worth your while going to a few and checking out whats available. Wish you luck with your venture but check all your options and do plenty of homework before you start.
The Japan thing is a huge risk and really not worth it.

daRobot

I think you need to forget this idea, and start thinking of other areas where you can make money.

Look at it logically. Every week or two, we're hearing about established car dealers, who have vast knowledge and years of experience going out of business.

If there was a market for what you're proposing, don't you think that the now unemployed, former car dealers, would be doing something similar?

Apologies for my harshness, but it's a bad business idea. There are opportunities in this recession for sure, but this is certainly not one.