Importing a car – complete guide
If you love cars and are ready to invest in one, you need to consider the various factors that might impact your decision. Certain factors such as the resale value, taxes, and maintenance costs will vary between different countries. Hence it is important to evaluate which country has a better offer for your financial situation. These pros and cons play an important role. When you are deciding whether to import a new car from USA or Canada. The process of importing a vehicle from any country can be challenging. Not just because of the documentation involved but also because of the numerous rules and restrictions imposed by customs authorities of each country.
Moreover, it can get even more confusing when you have to choose between importing a car from the USA or Canada. Thankfully, here’s our complete guide on everything you need to know about importing a vehicle from USA or Canada!
What are the benefits of importing a car from USA or Canada?
Before we discuss the process of importing a vehicle, let’s talk about the advantages of choosing to buy a car from USA or Canada. One of the key advantages of importing a car from USA or Canada is that you will not be charged any customs duty. However, this does not imply that you will not be charged any taxes. Importing a car from Canada or the United States will allow you to avoid paying the 10% non-refundable customs duty.
This is especially helpful for people looking to buy a used car since it will be cheaper than the new car price in India. Additionally, you will also not be required to pay any additional levies. Which may include such as parking and other countries taxes. Another perk of buying a car from USA or Canada is that you will not have to deal with local state or city transport authorities. You will also have access to a wider variety of models and variants of cars that may not be available in India.
The import process for importing a vehicle from USA or Canada
If you decide to import a car from USA or Canada, you will have to go through a couple of steps to complete the entire importing process. The first step is to find the right car that meets all your requirements. Such as make, model, and year. Once you are done with this, you need to find a car exporter from USA or Canada who deals in shipping cars to other countries.
You can either find one on your own or use our car exporter directory to find a suitable car exporter. Once you have found a car exporter, you need to fill out a “Bill of Entry” (BOE). This is an important document that must be filled out in “free-form” format. Once you have completed the BOE, you need to provide some supporting documents such as an invoice, statement of goods, and reconciliation of quantities. The total time it takes to import a car from USA or Canada will depend on the car exporter.
Disadvantages of importing a car from USA or Canada
Though importing a car from USA or Canada can help you save both time and money. Unfortunately it does have its drawbacks. For instance, the vehicle may get stuck in the customs for several months. Which can be frustrating. At times, the car exporter may also try to swindle you by giving you a low-quality car that doesn’t meet the standards. Moreover, since the car was manufactured in a different country, it will be difficult to service it or find the right spare parts. Plus, you will also be required to pay a customs duty of 100% in case of a second-hand car.
Should you import a car from USA or Canada?
Before you go ahead and import a car from the USA or Canada, make sure it will be worth your while. That is, you should consider your reasons for importing a car from USA or Canada. If you are looking to buy a brand-new car, it is advisable to import it from USA. The customs duty for used cars is quite high in Canada. However, if you are looking to buy a used car, it is better to import one from Canada. This is because you won’t be required to pay any customs duty when importing a used car from Canada. On the other hand, if you want to import a brand-new car, you can always import it from USA.
Which country should you choose, USA or Canada?
To decide which country, you should import a car from, you need to evaluate multiple factors. Which may include customs duty, taxes, and model availability. Let’s take a look at these factors. Customs Duty. As we mentioned earlier, you will not be required to pay any customs duty when importing a car from Canada. On the other hand, you will be charged 10% customs duty when importing a car from USA. Taxes. You will be required to pay both GST and customs duties when importing a car from either USA or Canada.
However, you will not be required to pay any additional taxes when importing a car from Canada. Model Availability. If you are looking to buy a new car, it is best to import it from the USA. Because you will have ample options to choose from. However, if you are looking to buy a used car, it is better to import it from Canada since you won’t be charged any customs duty.
Final Words: Wrapping up
We hope that you have found this article on the pros and cons of importing a car from the USA or Canada to be helpful. Importing a vehicle from the USA or Canada is a great way to save time and money. However, if you follow the steps mentioned above, you will be able to import your dream car. Remember, there is no better feeling than the satisfaction of driving a car you love!
Now that you have read our article, you know everything there is to know about importing a vehicle from the USA or Canada. So why wait? Start searching for your dream car today! Contact Cargoux Shiping agent today to help you with your car importing needs. you can also check us out on Facebook.
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