And what about the first plates??? Are they included in that 4K? I think we paid $1500-2000USD for thoseFirst plates are included using that back of the envelope 50% of value calculation....18% ITBIS, 17% first placa, and the other 15% for shipping, insurances, port fees, bribes, etc.
Unless of course you bring a vehicle in using residency or returning Dominican exceptions (like you did)....then and only then are taxes less.
Is it possible for someone to move to Santo Domingo and start a used car lot there. I am a car dealer who currently lives in Columbus Ohio and I plan to move in the next couple of months. Is it possible to import used cars from the US? If so can someone point me towards the right directions where i can find the correct information.
Just an Idea...
I have flipped used cars in the states. I wonder if the concept will work in the DR.
Basically pick up a used car, with a clean body, needing high mileage repairs. So, as i am mechanically inclined, fix what is needed, like timing/waterpump, brakes, ball joints, full fluid change, whatever... after a quick buff and wax, re sale as mint, with advertised high mileage maintenance completed. These older Japanese cars with proven track record of reliability do sell themselves. honda, acura, toyota, nissan, 4 doors or jeepetas. I usually make $1500 to $2000 profit per car, for a weeks work. With the way the law works here in the US, I could sell a limit before I am considered a used car dealer, so I get over.
Would a concept work like this in the DR? Even if I were not mechanically inclined, what is the hourly rate of mechanics in DR?
This is a concept that can take off for the non pro car dealer. What can one expect to get for a "mint" 03 honda CRV or an acura rl with a fresh lease on life?
So what you are saying is that I couldn't make money selling a 2010 vehicle there when I am buying it for $3000 here in the states. I am almost tripling my money here. Why couldn't I do something remotely close to that there when the prices seem to be even higher there?
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Just an idea.
What can one expect to get for a "mint" 03 honda CRV or an acura rl with a fresh lease on life?
if you know how to "roll back odometers" you will fit right in with the rest of the used car dealers in this Country.. I have never ever seen a used car in this Country without a tampered with odometer...
Wasnt talking about importing an 03 crv, but sourcing the car on the island in need of repair. Getting the parts to refresh an old car like new, are parts hard to get?
I just prepped an mdz, 04, i bought it cheap! The previos owner didn't want the old body style, didnt want to make repairs, would not have gotten much on trade in, win win for me. I put in under $500 in parts, and charge myself $40 per hour on labor. I know that $500 in parts would face a tax if imported. If parts are reasonable in the DR, it would be a breeze to make it happen.
that is because the only ones that do not have a rolled back odometer are the ones brought in by foreigners from their home countries. anything you buy off a lot has been doctored, without a doubt. any kid with a laptop can do it.
Dominican buyers to some extent have become more sophisticated about car buying. Lots of dealers here are now supplying Carfaxes/AutoCheck with their US imported cars.....and while these services are not always perfect, they are becoming more prevalent as other dealers adopt supplying their clients with another level of assurance in the process.....however, while many provide them they are still only a minority of dealerships.
that works fine when you are the first buyer off the ship. once the car starts rolling locally, Carfax is useless.
And that is true.....but there is at least one major insurer here looking to create a database of information on accidents, including the type and nature of the damage.
Small steps.....and further opportunities for some.
i applaud the idea, playa, but, as you know, a database is only as good as the facts reported. since 75% of all accidents in the DR are purportedly hit and runs, that complicates things.
It is not whether it is a hit and run, but rather if the insurance pays a claim and the vehicle is repaired with insurance money and the damage they paid for is entered via a database.
Cars can be no older than 5 years.
The chief complaint by the used car dealers is that the government has not adjusted the price of the used car values on which the dealers pay tax.....to actually reflect their real value.
Of course any downward adjustment as to value.....would mean less tax money for the government.
By way of example, a 2011 Toyota Camry has had a valuation of 619,000 pesos for so long....I stopped looking to see when Aduana would actually revise their valuation. That is the chief complaint of the used car guys. The taxes are so high it is difficult to buy, ship, pay taxes, and make a profit.
That of course, and the fact that so many cars are imported here to wash money.
that is true, but very often guys involved in hit and run accidents do not report the event, for fear of negative repercussions having done so.