Car buying can be a tedious task because it requires a great deal of time and research to find the right car at the right price. These days, however, consumers aren’t limited to the inventory at local car dealerships. Consumers have the capability of browsing cars all over the world to find exactly what they want. Sometimes looking a little further can help you get a great deal. Buying a car overseas is actually not as complicated as you might think and it can ensure you have the perfect set of wheels in your driveway. Whether you are looking for a rare European model or you have just found a much cheaper sale price, shopping overseas can prove to be a beneficial option. Here are a few things to keep in mind to make the process easier.
Make Sure You Are Dealing with a Reputable Seller
If you are considering purchasing a car overseas, this isn’t the time to seek out a Craigslist ad. Rather, look for established dealers that have a good reputation. Do a lot of research to be sure the dealer or seller is legitimate and try to work with a seller who has dealt with overseas transactions before so they can help guide you through the process. There is always the possibility of being scammed, losing money, and never receiving your car. Since there is always this risk, make sure you really do your research to avoid a possible scam.
Make Sure the Car Meets American Standards
You may have found a deal that seems too good to be true but there is a possibility that it actually is. When you are looking to purchase a vehicle overseas, you need to make sure the car meets American emissions and safety standards. You can run into this problem with certain European models. They might meet the requirements of their own country but you could run into potential problems when you bring that car home. You can visit epa.gov for additional details on the standards and requirements for purchasing a car overseas.
Budget for Taxes
Don’t be fooled by the price of a car overseas. Remember to factor in the taxes that you will have to pay when you bring the car home. There is a good chance you will not pay taxes on the vehicle overseas but find out what the taxes will be when you register the vehicle in the United States and don’t forget to budget for these additional taxes.
Check the Warranty Details
Many vehicles come with some sort of warranty so you need to find out if the vehicle is covered under the manufacturer’s warranty once you bring it home to the U.S. You will need to see if there is a local repair shop close by that can service your vehicle.
Shop for the Best Money Transfer Service
If you plan on purchasing a vehicle overseas you will need to send the appropriate funds abroad to pay for the vehicle. Although your first option might be to wire the funds through your bank, this will cost you a fee and sometimes these fees are pretty high. You could save yourself a lot of money by using a specialist money transfer service that offers better exchange rates and lower fees than most banks.
Get the Right Documentation
It is important to make sure you have the right paperwork for buying a car overseas and bringing it back home. You can visit the U.S. Customs and Border Patrol website for a listing of these documentation requirements. Typically you will need a bill of sale, the foreign registration, and the bill of lading from your shipping company. You will also have to pay the import taxes on your vehicle.
Find an Experienced Shipping Company
Again, this isn’t the time to be looking for the lowest possible price. It is much more important to look for a reputable shipping company that has experience dealing with international car shipping. Read reviews and online testimonials and even ask the shipping company to provide you with a few references. You also want to be sure the shipping company provides insurance for your vehicle during transport.
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