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BREXIT - The impact on importing cars?

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    #62
    Duke O Smiley
    Registered Users Posts: 12,074 ✭✭✭✭Duke O Smiley


    bear1 wrote: »
    We can't even teach people to stay on the left side of a motorway never mind teaching them to drive on the other side.
    Besides, imagine the interchanges that would need to be constructed everywhere along the border.

    Didn't like Sweeden do it in the 60s over night??


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    #63
    timmyntc
    Registered Users Posts: 6,831 ✭✭✭timmyntc


    bear1 wrote: »
    You're joking right?

    He's right there aren't... until you try to bring them in


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    #64
    bear1
    Registered Users Posts: 12,812 ✭✭✭✭bear1


    Duke O Smiley wrote: »
    Didn't like Sweeden do it in the 60s over night??

    They were half there thought. The cars were LHD but they drove on the right so the switch over is made "easier". Also, their neighbours all drove on the same side so it also further enhanced their goal.
    In Ireland we would have to not only start driving on the other side but teach drivers to sit on the opposite side of the car as well.
    Plus out location does not help us here.


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    #65
    my friend
    Banned (with Prison Access) Posts: 7,129 ✭✭✭my friend


    Mr. Farage wrote: »
    The days of importing cheap(er) cars and motorbikes from the UK are over. The UK is out and you might as well be bringing in a motor from India.

    Not true,

    Sterling will weaken further and trade restrictions will take time to enact if at all.


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    #66
    millington
    Registered Users Posts: 1,287 ✭✭✭millington


    maximum12 wrote: »
    The VAT issue is too complicated to explain to people who don't have tax qualifications. However, the point is that Brexit has zero impact on the VAT on cars.

    How does it not have any impact? Because in 3 years when I go over and buy a used 530d and I'm shouting at Revenue for charging me VAT, I don't think "a lad on boards said you can't" will stand up :eek:

    Everyone I know who imported from Japan in the last 2 years has paid 10% customs & 23% VAT. Short of a trade deal, why would the UK be any different?


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    #67
    randy hickey
    Registered Users Posts: 1,935 ✭✭✭randy hickey


    millington wrote: »
    How does it not have any impact? Because in 3 years when I go over and buy a used 530d and I'm shouting at Revenue for charging me VAT, I don't think "a lad on boards said you can't" will stand up :eek:

    Everyone I know who imported from Japan in the last 2 years has paid 10% customs & 23% VAT. Short of a trade deal, why would the UK be any different?

    But he's got a tax qualification lad, so it must be true!


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    #68
    buzzing147
    Registered Users Posts: 437 ✭✭buzzing147


    Mr. Farage wrote: »
    The days of importing cheap(er) cars and motorbikes from the UK are over. The UK is out and you might as well be bringing in a motor from India.

    Theres a 2 year legal period, no days are over yet, you can buy a car today in the uk cheaper than yesterday. Nows the time to buy one.


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    #69
    colm_mcm
    Registered Users Posts: 73,387 ✭✭✭✭colm_mcm


    Apparently the UK is projected to only have enough stocks of 5 year old Golfs to do us till August.


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    #70
    grogi
    Registered Users Posts: 8,615 ✭✭✭grogi


    millington wrote: »
    How does it not have any impact? Because in 3 years when I go over and buy a used 530d and I'm shouting at Revenue for charging me VAT, I don't think "a lad on boards said you can't" will stand up :eek:

    Everyone I know who imported from Japan in the last 2 years has paid 10% customs & 23% VAT. Short of a trade deal, why would the UK be any different?

    On exportation from UK you'll get your VAT back from HM, and pay it to the revenue here. Just a bit more papers to fill in...


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    #71
    Guy:Incognito
    Registered Users Posts: 38,247 ✭✭✭✭Guy:Incognito


    jobyrne30 wrote: »
    Was thinking the same. Expect to see a flood of UK regs at Irish car dealers

    Coinciding with actual floods in England :-)

    Who doesn't want a cheap soggy car


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    #72
    samih
    Registered Users Posts: 2,795 ✭✭✭samih


    Whatever reductions happen will be temporary. If the GBP permanently devalues against EUR the UK new car prices will need to increase which will then lead internal adjustment of used prices too. Emigration of the wealthy (bankers etc.) combined with more expensive imports to UK will dampen the new market there leading to higher prices for second hand cars.


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    #73
    Marcusm
    Registered Users Posts: 10,215 ✭✭✭✭Marcusm


    grogi wrote: »
    On exportation from UK you'll get your VAT back from HM, and pay it to the revenue here. Just a bit more papers to fill in...

    Highly unlikely that he would get any VAT back from HMRC as that would only apply to a small proportion of second hand sales - basically any car which has ever been owned privately plus a decent number of fleet vehicles will be subject to the "margin scheme" and thus there's no VAT to refund on a export. You'll always spot the ones you can VAT back on as they'll flag it up on Autotrader. If the exporting country is outside the EU, there would still be inbound VAT. There might be a transitional relief but I doubt it.


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    #74
    R.O.R
    Registered Users Posts: 12,675 ✭✭✭✭R.O.R


    colm_mcm wrote: »
    Apparently the UK is projected to only have enough stocks of 5 year old Golfs to do us till August.

    And when it's all finalised, all sold cars will be filthy as there won't be anyone left to Valet the cars.


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    #75
    millington
    Registered Users Posts: 1,287 ✭✭✭millington


    grogi wrote: »
    On exportation from UK you'll get your VAT back from HM, and pay it to the revenue here. Just a bit more papers to fill in...

    If I go over to my friend in England, buy his car and bring it home, I don't have to pay any VAT

    If I do it when the UK leaves the EU, I have to pay 10% customs then 23% VAT.

    That seems like a pretty big difference to me?:confused:

    Most used cars in the UK have no VAT to begin with.


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    #76
    Special Circumstances
    Closed Accounts Posts: 7,569 ✭✭✭Special Circumstances


    R.O.R wrote: »
    And when it's all finalised, all sold cars will be filthy as there won't be anyone left to Valet the cars.

    Now now, all those refugees crossing the Irish Sea are doctors, engineers and architects as they are in all cases. ;)
    http://waterfordwhispersnews.com/2016/06/24/thousands-of-british-refugees-make-dangerous-journey-across-the-irish-sea/


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    #77
    biko
    Registered Users Posts: 81,223 ✭✭✭✭biko


    Cameron will not sign Article 50 but will leave that to his successor.
    This means that the exit is not yet initiated.

    So from here to an actual exit we're talking two and a half years of negotiations and new trade agreements set up.
    Even then, during the process any other member of EU can stifle the process with some sort of veto.

    I'd say we're looking at 3-5 years before you have to worry about cars..


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    #78
    grogi
    Registered Users Posts: 8,615 ✭✭✭grogi


    biko wrote: »
    So from here to an actual exit we're talking two and a half years of negotiations and new trade agreements set up.
    Even then, during the process any other member of EU can stifle the process with some sort of veto.

    Once the 50th is signed, it is 2 years. It can be extended, but must not be vetoed. Not the other way round...

    What they don't manage to sort in that time frame, will be unsorted... British will be under a lot of pressure during the negotiations, because the clock will be ticking and anyone can veto the agreements...


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    #79
    ba_barabus
    Registered Users Posts: 9,615 ✭✭✭ba_barabus


    Article 50 has to be invoked within 3 months of the vote. They then have 2 years to negotiate and complete the exit. That's according to BBC news.


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    #80
    grogi
    Registered Users Posts: 8,615 ✭✭✭grogi


    ba_barabus wrote: »
    Article 50 has to be invoked within 3 months of the vote.

    That must be something internal to UK, don't remember seeing anything like that in the Lisbon Treaty (not that I looked soo hard :D)


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    #81
    biko
    Registered Users Posts: 81,223 ✭✭✭✭biko


    grogi wrote: »
    Once the 50th is signed, it is 2 years. It can be extended, but must not be vetoed. Not the other way round...
    Hmm, yeah you're possibly right
    Under Article 50, as set out in the Lisbon Treaty, the UK would remain an EU member state for two years while negotiations take place. There is a possibility for the timescale for negotiations to be extended, says Armstrong, but any EU state could veto any extension forcing the UK into a take-it or leave-it dilemma as the clock runs down.
    http://www.cam.ac.uk/research/news/article-50-is-only-credible-way-for-brexit-says-leading-eu-law-expert


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    #82
    ironclaw
    Registered Users Posts: 8,004 ✭✭✭ironclaw


    Today, a car costing 10k GBP is about €12.3k. This time yesterday, the same car would have cost you €13.1k. That's pretty considerable, multiply that out to perhaps a €50k purchase and your purchasing power is considerable.


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    #83
    spintheglobe
    Registered Users Posts: 31 ✭spintheglobe


    guys give them some more time and wait

    everything now is just speculating


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    #84
    CiniO
    Registered Users Posts: 16,088 ✭✭✭✭CiniO


    ironclaw wrote: »
    Today, a car costing 10k GBP is about €12.3k. This time yesterday, the same car would have cost you €13.1k. That's pretty considerable, multiply that out to perhaps a €50k purchase and your purchasing power is considerable.

    €12.3k is still worse than it used to be.

    I bought a car in UK in 2013, and it would be €11.6k for £10k.


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    #85
    ironclaw
    Registered Users Posts: 8,004 ✭✭✭ironclaw


    CiniO wrote: »
    €12.3k is still worse than it used to be.

    I bought a car in UK in 2013, and it would be €11.6k for £10k.

    And bread used to be a penny? Whats your point? :confused: You can't compare 2013 to 2016, far too many factors, economic or otherwise.

    The Forex on EUR/GBP moved 600 points in about 4 seconds last night. The difference in a 24 hour period is unbelievable. I've been reviewing trades all morning here and some people we're cashing out €50k+ on the news. The bigger fish in NYC etc banked out a few million.

    If you want to buy a car and you have cash, I'd be doing it now.


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    #86
    CiniO
    Registered Users Posts: 16,088 ✭✭✭✭CiniO


    ironclaw wrote: »
    And bread used to be a penny? Whats your point? :confused: You can't compare 2013 to 2016, far too many factors, economic or otherwise.

    The Forex on EUR/GBP moved 600 points in about 4 seconds last night. The difference in a 24 hour period is unbelievable. I've been reviewing trades all morning here and some people we're cashing out €50k+ on the news. The bigger fish in NYC etc banked out a few million.

    If you want to buy a car and you have cash, I'd be doing it now.

    Well my point is that current exchange rate is 1:1.22 but it might as well be 1:1.10 in few days or few weeks.
    Who knows


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    #87
    mickdw
    Registered Users Posts: 23,277 ✭✭✭✭mickdw


    I don't see any great value in sterling versus euro at the minute.


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    #88
    Special Circumstances
    Closed Accounts Posts: 7,569 ✭✭✭Special Circumstances


    mickdw wrote: »
    I don't see any great value in sterling versus euro at the minute.

    Yup. Disappointed so far considering all the hoo hah.


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    #89
    nice_guy80
    Closed Accounts Posts: 8,723 ✭✭✭nice_guy80


    Plenty of lads exporting cars back to the UK and claiming the VRT rebate

    that might be out the window


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    #90
    54and56
    Registered Users Posts: 7,646 ✭✭✭54and56


    nice_guy80 wrote: »
    Plenty of lads exporting cars back to the UK and claiming the VRT rebate
    Is that a tricky thing to do? I've an 11 year old 2.5L Tdi VW Touareg which attracts punitive Road Tax here but would probably find a buyer in Northern Ireland. If you export how is the VRT rebate calculated?


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    #91
    grogi
    Registered Users Posts: 8,615 ✭✭✭grogi


    Je_suis_Jean wrote: »
    Is that a tricky thing to do? I've an 11 year old 2.5L Tdi VW Touareg which attracts punitive Road Tax here but would probably find a buyer in Northern Ireland. If you export how is the VRT rebate calculated?

    Here you go... http://lmgtfy.com/?q=vrt+export+refund


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