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Importing a Classic Car

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slimbalato
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Importing a Classic Car

Postby slimbalato » Thu, 10 Mar 2016 1:22 pm

I'm thinking of buying my Dads 1977 Jaguar XJ12 (mint condition)

Price is £5000 ($10,000) but it's probably worth twice that and I was wondering about importing it to Singapore.

A quick look appears to show that it would cost about 27k (working below)

Questions:

How will the LTA value the car?
Does anyone know an agent that can handle this kind of thing?
Do classics with limited use tend to have lower resale value?
Anyone have any idea what the value of this car might be after import?

Car 10000
Car: 20% of Open Market Value (OMV) 2000
10% of the relevant Prevailing Quota Premium 5000
Registration Fee 140
Additional Registration Fee (ARF) (100%) 10000

27140


Cheers

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sundaymorningstaple
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Re: Importing a Classic Car

Postby sundaymorningstaple » Thu, 10 Mar 2016 2:49 pm

Try this. You will only be able to drive it a MAXIMUM of 45 days a year. (28 days a year free and 17 additional days a year @$20/day).

https://www.lta.gov.sg/content/dam/ltaw ... ic-Car.pdf

Unless you are immigrating (and from your earlier posts I seriously doubt that-though I may be wrong), you might want to buy it and put it into a good storage facility at home for when you return. The cost will probably the the same or less and you probably won't get hit by a Black BMW like you will here.

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Strong Eagle
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Re: Importing a Classic Car

Postby Strong Eagle » Thu, 10 Mar 2016 10:17 pm

Taxes and fees are based upon the open market value, not what you paid for it. I don't know the formula for an older car but no doubt there is one.

You must add in all the additional fees to get the car into Singapore to the OMV. Shipping, insurance, inspections... one poster here has actually imported a late model motorcycle I think... a search may provide more information.

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slimbalato
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Re: Importing a Classic Car

Postby slimbalato » Fri, 11 Mar 2016 9:23 am

Yes, I understand it will be expensive but the thinking is, let's say it costs 30-40k to import, I keep it for 4 years and can then sell it for 100k then I'd say that's a worthwhile exercise.

I don't have any particular attachment to the car so it has to be a monetary no-brainer really.

Hence the questions on OMV and potential value.

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Re: Importing a Classic Car

Postby PNGMK » Fri, 11 Mar 2016 9:32 am

I don't think you'll get that much on resale... have you had a look through the sgcarmart and others to see what older cars are selling for here?
I have gay, black, Asian friends and then JR8.

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sundaymorningstaple
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Re: Importing a Classic Car

Postby sundaymorningstaple » Fri, 11 Mar 2016 1:10 pm

I'm afraid I'll have to agree with PNGMK. I don't reckon you'll get 2/3s of the original cost of getting on the road here. You might get a little more if it were a pristine XKS but even then I'm not impressed. Now if it were an XJC 6 or 12 it would be a different story. Those are collector's cars. Styling wasn't great by my reckoning, but other's feel otherwise, but their rarety makes them valuable.

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Re: Importing a Classic Car

Postby renorenoreno » Mon, 24 Apr 2017 10:11 pm

Saw this website a few days ago while browsing the net. www.classicmotors.sg . Seems like a specialist in classic vehicles. Says they can do classic car import too. Could give it a shot :D


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