Monday, April 19, 2021

US car auctions opportunities

 Many people from Eastern Europe and other former USSR countries perform profitable business importing cars from the US. In the US, used cars are very cheap to buy from 2 main auctions: Copart and iaai.

However, former USSR countries (all of them?) have very high customs duties fees. Sometimes fee is worth doubled price of the car. Nevertheless, there are options to avoid such charges.

Firstly, fees are not charged for import of electric cars. Electric auto industry is growing very fast. As soon as in 2-3 years we could buy used pickup trucks and jeeps from the US auctions.

Secondly, there is an option for "temporary import" regulated by Istanbul Convention On Temporary Admission. It is an international convention, so in most countries it supersedes local laws. Non-citizen of the country could import a car for up to 1 year and freely drive it in within the country of destination without additional customs charges. The car should be registered in the foreign country and maintain active registration. The car should belong to the driver who imports it.

No comments:

Post a Comment