Electric vehicle VRT.

Noodle Scratcher

I know electric cars are exempt from VRT, but what if you're buying in Northern Ireland and registering it in the Republic. Are any fees payable then?

unkel

Common misconception. They are not VRT exempt, but they have a €5,000 discount on the VRT. And the VRT percentage on zero emission cars is 14%, so that means that any car new or second hand under €35k value does not have any VRT

And yes, that applies to any EV imported from anywhere in the UK (including NI)

oinkely

in short Noodle, you pay no fees to import a leaf from the UK, unless it cost over 35k to begin with.

Noodle Scratcher

Thanks guys.

unkel

oinkely wrote: »

in short Noodle, you pay no fees to import a leaf from the UK, unless it cost over 35k to begin with.

Slight correction. Unless the value of the car over here in Ireland (OMSP - open market selling price) is deemed to be over €35k. Even if the car cost you less (or more) to actually buy.

ELM327

So in reality right now unless you are importing a Tesla, it has no VRT effectively.

unkel

And even a Tesla, say worth €50k over here only attracts €50k * 14% - €5k, so only €2k VRT

stesaurus

ELM327 wrote: »

So in reality right now unless you are importing a Tesla, it has no VRT effectively.

i3s can also sting with VRT. If I recall mine had a small portion and definitely Cros13 with his high specced version

KCross

And also watch for the VAT issue.... the car needs to be 6+mths old and have 6000+km on it or else it will be subject to additional VAT.

Soarer

Yup.

A 2 year old car with 3000kms on the clock is classed as a new car by our shower in power.

Boggles the mind.

k123456

stesaurus wrote: »

i3s can also sting with VRT. If I recall mine had a small portion and definitely Cros13 with his high specced version

Why would the I3 attract Vrt , for another EV (leaf top spec level) wouldn't

ELM327

Soarer wrote: »

Yup.

A 2 year old car with 3000kms on the clock is classed as a new car by our shower in power.

Boggles the mind.

I wonder, extrapolating the rule, if a classic with less than 6k kms but 30+ years old is still "new".
That would be funny, getting a classic car VRT rate but being labelled new for VAT

stesaurus

k123456 wrote: »

Why would the I3 attract Vrt , for another EV (leaf top spec level) wouldn't

For the reasons already outlined. It's a VRT rebate of 5k. So at 14% VRT creeps above 5k around the 35k mark. An i3 can cost more than that. A Leaf doesn't.

Soarer

k123456 wrote: »

Why would the I3 attract Vrt , for another EV (leaf top spec level) wouldn't

stesaurus wrote: »

For the reasons already outlined. It's a VRT rebate of 5k. So at 14% VRT creeps above 5k around the 35k mark. An i3 can cost more than that. A Leaf doesn't.

Also, they might have a rex.

Doc el brown

unkel wrote: »

And even a Tesla, say worth €50k over here only attracts €50k * 14% - €5k, so only €2k VRT

Hi Unkel,

I'm thinking of buying a 2015 tesla model s in the UK for £35k (€39). So am I correct in saying that I will pay VRT to the Irish open market price of the same car? Which in ireland is €70k.
Vrt = 70/100*14-5k =€4800

Still a huge saving.

Many Thanks,

Gumbo

Yes, our OMSP is what matters. You can appeal afterwards if you think it’s too high.

Calahonda52

Noodle Scratcher wrote: »

Thanks guys.

Tesla not listed here yet

https://www.ros.ie/evrt-enquiry/vrtenquiry.html?execution=e1s1

Calahonda52

Doc el brown wrote: »

Hi Unkel,

I'm thinking of buying a 2015 tesla model s in the UK for £35k (€39). So am I correct in saying that I will pay VRT to the Irish open market price of the same car? Which in ireland is €70k.
Vrt = 70/100*14-5k =€4800

Still a huge saving.

Many Thanks,

Is this not a hugh arbitrage opportunity or are the prices here reflecting shortage?

Doc el brown

Calahonda52 wrote: »

Is this not a hugh arbitrage opportunity or are the prices here reflecting shortage?

I suppose it would be an arbitrage opportunity. There is definitely a shortage but in general terms electric cars are still a big unknown for most people so a small market as it is.

ewj1978

OMSP for teslas was screwed by a few main dealers bringing in early models and then whacking stupid fecking prices on them AFAIK

dukeofcontent

how does it work for plug in hybrids? thinking of kia niro plug in hybrid but got no idea how much it would be on vrt. VRT website has no plug in model in database. Would be same as fully electric ?

KCross

dukeofcontent wrote: »

how does it work for plug in hybrids? thinking of kia niro plug in hybrid but got no idea how much it would be on vrt. VRT website has no plug in model in database. Would be same as fully electric ?

I believe PHEV has a €2500 VRT exemption (as opposed to €5k for BEV).

A 172 Niro Hybrid would have about a €3k VRT bill so a PHEV version of that would then cost you about €500 in VRT.

It might be a little bit more than that because the PHEV will have a higher retail price but it should still be quite a small VRT bill with the €2500 exemption.

dukeofcontent

so it is worth to think about import from uk since it cost 23k pounds and around 500 vrt would be all in total around 26k euros which is good price for nearly new car.

alanowx

The NIRO PHEV is due at dealerships here any day now. RRSP is 35,995 before SEAI grant reduction of 5,000, leaving a price of 30,995.

One dealer I called into had a list price of 32,700. He eventually advised that the 1700 odd difference accounted for Metallic paint, 3 years free servicing, Delivery and related charges mats + mudflaps. So I believe if one opted for non-metallic White and opted out of Free ? servicing one could save about 1,000 although I suppose 400 for 3 services is not that bad for a PHEV.

Kia have a promotion at monent on NIRO incl PHEV, until end of February with 0% on HP, (not PCP) Finance although a hefty 40% deposit / trade-in is required.

Perhaps with a little hard bargaining one could pick up a new one here for 30k or less so is the saving to import really worth it.

dukeofcontent

if that would be 30k or less i would go for it but problem is hard to get that price in ireland. What do You mean trade in required ? 1 dealer ask me if anything for trade in and I said no because they always do low valuation on old cars.

alanowx

In order to get the 0% HP finance one has to come up with 40% of the price. That could be cash deposit, trade-in or combination of both.

I would be very tempted if I could get it for 30K. My own trade-in is worth about 12k, which is the required 40%, leaving 18K spread over 48 months @ 375pm with no balloon payment like PCP. A further cash deposit could reduce payments further but perhaps better to keep that in the bank with 0%. finance.