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S class, A8 or 7 series - is there demand for them used?

  • 03-05-2021 2:05pm
    #1
    Casati
    Registered Users Posts: 3,013 ✭✭✭


    I have a mate who is thinking of buying a low mileage 2018 730d or S350d or A8 50 TDI in U.K. and bring back ex VRT and VAT in six months with the aim of flogging it here in about two years. He tells me he can buy via his company hence the vat free - not sure how but he’s certain on that piece. As such he’s looking to pay circa 30k/35k

    I see high prices (40k+) on any 2016 decent spec / mileage versions of these for sale here but is there actually any demand for them at that price level or is he likely to be stuck with it or forced to give it away for half these asking prices?


Comments

  • #2
    Marcusm
    Registered Users Posts: 10,183 ✭✭✭✭Marcusm


    Casati wrote: »
    I have a mate who is thinking of buying a low mileage 2018 730d or S350d or A8 50 TDI in U.K. and bring back ex VRT and VAT in six months with the aim of flogging it here in about two years. He tells me he can buy via his company hence the vat free - not sure how but he’s certain on that piece. As such he’s looking to pay circa 30k/35k

    I see high prices (40k+) on any 2016 decent spec / mileage versions of these for sale here but is there actually any demand for them at that price level or is he likely to be stuck with it or forced to give it away for half these asking prices?

    If it’s bought via a company it won’t be VRT free on importation as it is not his personal property. He’s trying to push it too far. You are looking three years out based on your two year post arrival timeline. Exec class cars are in a bit of a flux at the moment. Not sure a diesel S class/7 series in a few years will be that attractive as the PHEV versions have such low VRT rates when compared to diesel. Most drivers won’t see a real difference. I imagine that X5 or Q7 would catch a larger market.


  • #3
    Cooled1
    Registered Users Posts: 38 ✭Cooled1


    Dont think there would be too many willing to pay big money to a private seller with no warranty


  • #4
    [Deleted User]
    Posts: 596 ✭ [Deleted User]


    Marcusm wrote: »
    If it’s bought via a company it won’t be VRT free on importation as it is not his personal property.

    VAT free, not VRT free.


  • #5
    Casati
    Registered Users Posts: 3,013 ✭✭✭Casati


    [Deleted User] wrote: »
    VAT free, not VRT free.

    Apparently you can move a company asset from overseas to Ireland and avoid VRT in the same way as you can for personal import - Ie his company also has an Irish office and the car will be owned by the company, not him personally - at least this is what he’s telling me

    Q7 / X5 are much dear to buy in U.K and seem to be a step down in luxury too.


  • #6
    Buddy Bubs
    Registered Users Posts: 3,444 ✭✭✭Buddy Bubs


    Same as demand for new ones, pretty low. But supply pretty low too. I can't see a profit in 2 years even if he gets it in without paying vrt/vat or whatever. If that's what he's after, that is.
    If he's buying it because he likes them and wants to drive one he's going to lose out if he tries to buy a newer one and disposing of this one.
    Nice cars though, all of them.


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  • #7
    Casati
    Registered Users Posts: 3,013 ✭✭✭Casati


    Buddy Bubs wrote: »
    Same as demand for new ones, pretty low. But supply pretty low too. I can't see a profit in 2 years even if he gets it in without paying vrt/vat or whatever. If that's what he's after, that is.
    If he's buying it because he likes them and wants to drive one he's going to lose out if he tries to buy a newer one and disposing of this one.
    Nice cars though, all of them.

    He definitely likes the idea for a couple of years, after which I’d say he might go back to driving bangers ! If it’s an expensive venture and he won’t get anything near his initial outlay back in two years I don’t think he’ll go ahead with it


  • #8
    Allinall
    Registered Users Posts: 6,530 ✭✭✭Allinall


    As far as I know, if it’s his company selling the car, the sale price will include VAT, so he will only get value of 81% of the sale.

    He will then be further taxed if and when he withdraws the money from his company.


  • #9
    Water2626262
    Registered Users Posts: 214 ✭✭Water2626262


    The VAT free bit doesn’t make sense. It’s a CAT A vehicle.

    Also there is serious depreciation on these. Nothing special about them.


  • #10
    Casati
    Registered Users Posts: 3,013 ✭✭✭Casati


    Water2626262 wrote: »
    The VAT free bit doesn’t make sense. It’s a CAT A vehicle.

    Also there is serious depreciation on these. Nothing special about them.

    Depreciation is mega for sure - was looking in carzone and A8’s are 120k new, 80k for 201 and 50k for 181’s.

    I don’t understand the vat in the U.K. but that’s what he was saying


  • #11
    Marcusm
    Registered Users Posts: 10,183 ✭✭✭✭Marcusm


    Jeremy Beagle wrote: »
    VAT free, not VRT free.

    If it’s registered to a company to reduce VAT he won’t be able to claim a VRT exemption on transfer of residence to Ireland.


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  • #12
    Marcusm
    Registered Users Posts: 10,183 ✭✭✭✭Marcusm


    Casati wrote: »
    Apparently you can move a company asset from overseas to Ireland and avoid VRT in the same way as you can for personal import - Ie his company also has an Irish office and the car will be owned by the company, not him personally - at least this is what he’s telling me

    Q7 / X5 are much dear to buy in U.K and seem to be a step down in luxury too.

    Transfer of business undertaking relief for VRT is very unusual. Business must not have been carried on here before and must be entirely carried on here in the future. It’s not designed for individuals transferring residence. It’s possible but very fact specific. What type of business is carried on? If it’s a service business then it must be integral to the provision of the service not just used by an employee.


  • #13
    Casati
    Registered Users Posts: 3,013 ✭✭✭Casati


    Marcusm wrote: »
    Transfer of business undertaking relief for VRT is very unusual. Business must not have been carried on here before and must be entirely carried on here in the future. It’s not designed for individuals transferring residence. It’s possible but very fact specific. What type of business is carried on? If it’s a service business then it must be integral to the provision of the service not just used by an employee.

    I’ll pass that info on and the issue with Vat upon sale, he was sure with his business he would be be allowed to do it - the bigger question was would there be a market offering strong money for the car in two years and it sounds like there isnt


  • #14
    Marcusm
    Registered Users Posts: 10,183 ✭✭✭✭Marcusm


    What is the business? This is an important factor.


  • #15
    ShadowHearth
    Registered Users Posts: 22,929 ✭✭✭✭ShadowHearth


    The main thing to realise here is that who ever buys that class car will not buy it from private hands. Anyone who is in to cars like this usually buys them new through company or buys it from reputable dealers, unless they became luxobarge territory.


  • #16
    Casati
    Registered Users Posts: 3,013 ✭✭✭Casati


    ShadowHearth wrote: »
    The main thing to realise here is that who ever buys that class car will not buy it from private hands. Anyone who is in to cars like this usually buys them new through company or buys it from reputable dealers, unless they became luxobarge territory.

    I’ve been looking on donedeal and you see about dozen private ads at a given time for used 7 series and S class priced from 30k/ 35k upwards at any given time


  • #17
    ShadowHearth
    Registered Users Posts: 22,929 ✭✭✭✭ShadowHearth


    Casati wrote: »
    I’ve been looking on donedeal and you see about dozen private ads at a given time for used 7 series and S class priced from 30k/ 35k upwards at any given time

    Does not really tell the story how many and for how much theu sell though?

    Most likely a lot of them are bought by traders for low ball offers, to be resold on their lots for more. I am not saying they don't sell privately, but its the worst class to sell privately when it is in the hire price range.


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