Importing cars as a business into the DR

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jiro

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Feb 2, 2011
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I am currently residing in the United States my parents are from the DR. Is it possible to start a car Importing business into the DR ? I have contacted several people in the DR and we can established a car dealership there to sell the cars after sending the cars from USA. Is there a way to do it? what types of license are necessary? will taxes be higher? I plan to only import American Vehicle does that make a difference? Can established my legitimate business in the US to export out and send vehicles to a dealer in the DR?

Please any input will help!
thanks
 
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Hillbilly

Hillbilly

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If you have VERY VERY deep pockets, you might try it. It is not what I would do with money to invest and some slight knowledge of the DR...You have huge competition and what are called here "Intereses)....comprendes??

HB
 
P

PeterInBrat

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May 29, 2006
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I looked into this a while back and the only way that would make sense to me is if you can find a buyer first for a make and model of a car then find it in the US. Jump through the hoops for them and deliver the vehicle, but they would be putting money down on a vehicle sight unseen. The dealers who sell new cars in the DR prob are protected from start-ups like yours with price(+shipping costs) and agreements, so it would most likely be used if you were ever to get a foothold.

There are many other products to bring in with less risk and competition.
 
A

amparocorp

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there a lot of people already doing this, they are pros. i'm sure it's possible to make millions or lose em. look for a business that nobody else is doing, that's where the money is. dealing cars is comparable to a shark tank or casino..........
 
cobraboy

cobraboy

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Jul 24, 2004
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Importing cars is suspected to be how drug dealers/brokers launder $$$.They don't have to make a profit selling cars to "make a profit."

Hard to compete against someone who doesn't need to cover his costs in a conventional manner.
 
M

mido

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May 18, 2002
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cobraboy said:
Importing cars is suspected to be how drug dealers/brokers launder $$$.They don't have to make a profit selling cars to "make a profit."

Hard to compete against someone who doesn't need to cover his costs in a conventional manner.
Click to expand...

You hit the nail on the head!
 
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bachata

bachata

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If you have money, a tow truck, a place to disassemble the cars and a partner with good contact in Dominican customs make a fortune in a couple years buying broken cars for a few hundreds here in US.

I would buy Toyota and Honda only.

JJ
 
S

suarezn

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Feb 3, 2002
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Jiro: Yes this can be done and it can actually be a very profitable business. The key here is how cheap can you get the cars in The US? Do you have a dealers license to participate in big auctions (i.e. Manheim) where you can get cars at a very low price? If you can get them really cheap then you may have a business. Ideally then you can partner with someone (a dealer) who can get the discounts to get the car out of customs paying less than the average Joe would.

Lastly you must have quite a bit of cash available to sustain the business. For instance you buy a few cars, ship them to The DR and wait for them to get sold to get your money back to buy some more cars (This whole process can take anywhere from 2 to 5 months).

My brother has a dealership and I've done this in the past. Definitely a business I would like to get in, but there are a lot of things that need to be in place to make this work...oh and Cobraboy was right about the money laundering issue. For instance my brother is facing huge competition right now from one of these outfits.
 
R

rsg

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suarezn said:
Jiro: Yes this can be done and it can actually be a very profitable business. The key here is how cheap can you get the cars in The US? Do you have a dealers license to participate in big auctions (i.e. Manheim) where you can get cars at a very low price? If you can get them really cheap then you may have a business. Ideally then you can partner with someone (a dealer) who can get the discounts to get the car out of customs paying less than the average Joe would.

Lastly you must have quite a bit of cash available to sustain the business. For instance you buy a few cars, ship them to The DR and wait for them to get sold to get your money back to buy some more cars (This whole process can take anywhere from 2 to 5 months).

My brother has a dealership and I've done this in the past. Definitely a business I would like to get in, but there are a lot of things that need to be in place to make this work...oh and Cobraboy was right about the money laundering issue. For instance my brother is facing huge competition right now from one of these outfits.
Click to expand...
Not to be rude, BUT!!!!..Your post really made me laugh saurzen..Please tell me where to find all these cheam cars you speak of..In Manhiem PA? I dont think so. There are more importers and shippers at Manhiem then there are cars :ermm:
I have shipped cars to the DR, PR, Aruba. Saudi Arabia , and many other places, and I will tell you that there is nothing easy about it..To make any kind of serious cash, you will need some serious cash..Sure you can make money, but i could probably make money in the oil business if I knew anything about it.And there is so much competition in the DR..
 
V

VistaMar

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Mar 16, 2011
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More money is made on the financing of the cars... not the sale. Example. We send 2005 Infiniti fx35. Total investment of $17,000 (original cost, shipping, taxes, cosmetic work). Asking price of $26,000... Negotiate to $22,000 w/ $10,000 down payment. Finance $12,000 @ 20%. We stay w/ matricula and a set of keys and we equip the car with Lojack should customer default. If he pays we collect 20% on our money guaranteed. If he defaults... even better. We repossess the car and put it back on the lot.
 
J

jame smith

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Feb 2, 2011
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Most of the folks involved in the car business down here, are pure scum. A large percentage of the vehicles,were involved in serious accidents stateside. The odometers are all rolled back. In some cases by 100k.
I used CARfax to check out 10 vehicles, 100% had the odometer rolled back.

I ended up, purchasing from a private owner. Unfortunately, he also had the odometer rolled back. Thank god, the vehicle was trouble-free.

Shopping for a good used vehicle in the Dominican Republic, was disgusting. I will never buy from a dealer down here.
My advise,purchase a vehicle from some fat .rich dude!!!!!!!!!
 
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VistaMar

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Excellent advice Jame... or better yet buy the car stateside and import it yourself. Good used vehicle in DR is an oxymoron.
 
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jame smith

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Feb 2, 2011
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Thanks!! I promised my soon to be wife a Land Rover....we are definitely going to purchase this vehicle stateside...... I am a bit confused about importing a car here.......I was told that you could not import a luxury car or Suv...i WAS also told that you coould not import an eight cylinder vehicle....
 
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Hillbilly

Hillbilly

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Why would you promise your soon-to-be wife a Land Rover? Does she have a driver's license? Do you want one of the most trouble ridden vehicles in the DR for your wife? Do you like to pay mechanic bills?

Get a group of guys together that have LRs. Listen to their talk--I have. "Well, my guy says that this is typical" "Yeah, but my guys are saying that if we did this, that issue would stop". "Whoa, those guys don't know Jack! MY guy says....." and on and on...it seems that they never can get them working without some issues.

Toyota, Mistubishi, Honda, Chevrolet....stick to the ones that work...

HB
 
Y

yanandu

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Jan 23, 2011
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In view of the fuel crisis electric bicycle imports may be better.
There are many successful import businesses. I would observe that the more successful are well connected with their target communities so there is some degree of trust. Some also do car hire.
Troy motors seems to have an expanding market importing new chinese cars and motorcycles.

Yanandu
 
S

sweetdbt

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Sep 17, 2004
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Hillbilly said:
Why would you promise your soon-to-be wife a Land Rover? Does she have a driver's license? Do you want one of the most trouble ridden vehicles in the DR for your wife? Do you like to pay mechanic bills?

Get a group of guys together that have LRs. Listen to their talk--I have. "Well, my guy says that this is typical" "Yeah, but my guys are saying that if we did this, that issue would stop". "Whoa, those guys don't know Jack! MY guy says....." and on and on...it seems that they never can get them working without some issues.

Toyota, Mistubishi, Honda, Chevrolet....stick to the ones that work...

HB
Click to expand...

Or, if you feel compelled to buy her a luxury SUV, go with Lexus or Acura.

Range Rover's lingering reputation as a durable, reliable vehicle is based mainly on anecdotal reports from their use in British colonial Africa 50 years ago or more. Modern LRs are luxury vehicles which are expensive to buy and even more expensive to maintain.
 
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jame smith

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We have a couple of LX470's.....the Land Rover purchase is in the distance future......I think that British cars are at the bottom of the reap......We are extremely happy with our LX470'S.......Toyota is un-touchable....as far as i am concerned.........You just cannot go wrong with the Toyota brand....
 
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