WarDamnEagle
SILVER Star
A few follow-up questions from my posts above...
If the car is refurbished in Pakistan and subsequently imported, would the declared value of the vehicle be the purchase price or its purchase price + the cost to refurbish?
If you import a car with intent to sell it, should you go through a registered importer? - I guess what I'm asking is, when should you/shouldn't you use an RI?
Secondly, let's say purchase price + refurbishing costs = $10,000. What would you estimate (ballpark) the total costs of shipping/importing to be? I know it's fairly nuanced so I'm just trying to get an idea. If it is a former military vehicle, but has since been unused for years, is it taxed as an Auto 2.5% or Truck 25%?
Cheers,
Greg
Because I knew I would also have some questions at the local DMV regarding value and would need a Bill of Sale, I used the Bill of Sale as my stated Value for the import documents. That Bill of Sale may have had some resemblance to reality but as advised, it probably shouldn't be too far from the "eye test" value.Declared value of the vehicle is usually the purchase price, because in most cases that's an accurate assessment of the car's value, but technically, you're simply declaring what the car is worth, in the condition its in when you import it, irrespective of how much you may or may not have invested in it. What would be a reasonable purchase/selling price for the car as imported? What would it appraise for? What value would you insure it for? It can be pretty subjective, and you may raise some suspicions at Customs if you declare too low a value to be believable, but if you declare a value that's within spitting range of what a similar car would sell for in the US, no one is likely to check your math.