Importing vehicle

[playacaribe2]

Not saying I do not believe you, it is just so hard to believe any bank would do that.

It is not done for everybody.....but it is done.....for otherwise credit worthy borrowers.

The loan begins as a personal one that morphs into a secured loan the moment the vehicle boards the ship and the lien is validated. Once the vehicle arrives in port, the finance house verifies it has landed.*

If the client does not pay the loan, the vehicle is then repossessed.

As a further security measure, these types of vehicles are also equipped with gps tracking....because you just never know.

My wife's family own multiple finance houses across the Island and have been doing this type of business for some time.

And you would likely choke on the legal interest rates they are allowed to charge on some loans.

Respectfully,*
Playacaribe2

 

[william webster]

I knew there was a glitch somewhere.....

I think I get it now ---
and the further I gret away from it, the more I'll like it

Vehicle is bought in nthe USA for import to RD.....
RD bank floats the $$$ to the seller but actually has control of the asset in RD

I see, said the blind man.

PC2
your post presented it ina diferent light.

My car , with a 0% US loan coulkdn't go to Canada.
My car , being shipped form the US to RD (owned by me) needed to be free & clear before shipping.

Nowhere near what you describe.....

Thanks for clarifying.....

I was beginning to think the world is flat !!!!!!!!!

 

[JD Jones]

Curious?

Do they lease cars in DR?

Yes and no.

Budget rent a car offers a very limited leasing option, but it's only for corporations. That's about it.

 

[playacaribe2]

Yes and no.

Budget rent a car offers a very limited leasing option, but it's only for corporations. That's about it.

Yes, they do. They even call it a mini-lease....but it really is just a long term rental....usually for 1 but no longer than 11 or 12 months. And its not cheap or viable for anyone but corporations with deeper pockets.

As far as I know, true leasing, either closed or open end, is not being done in the DR with the exception of one of my clients who is currently conducting a two car experiment....on a trial basis, to assess market viability in the DR.


Respectfully,
Playacaribe2

 

[jordan1010]

Importing a vehicle, costs as half the price of the original vehicle.Here are few things to consider before buying-
1. registration number.
2. pollution under control slip.
3. mileage
4. better electric components
5. stable working of steering, breaks, clutch pad, accelerator etc.
Hope it helps!

 

[Fulano2]

Why number 2??

 

[CharlieD]

Hi Gordon can you email me please Ive host your contact details.


Sent from my iPhone using Tapatalk

 

[Buzz65]

Sorry I didn't read through the 13 pages of threads, if this was mentioned already....

Thinking "out of the box", and because I am a gringo working Haiti,.... could there be an angle to buy in Haiti and drive it to the DR? Does DR and Haiti have any kind of import export agreements that are advantageous? Can you drive a car in DR with Haiti plates? Haitians have/are moved to DR in droves for years. If there is a cheap way to do it, Haitians have discovered it. Bless their hearts, too.

Apologies for bringing more questions than answers, but I too will face this same dichotomy when I move to DR.

And BTW, I had a 2010 Highlander Limited in Minnesota. Best car I ever owned, but didn't need heated seats and 4WD after moving to Miami. Mustang GT convertible is my ride now and when in MIA.

Buzz

 

[beeza]

Well I started this thread six months ago, I'm into five months of my 2012 Highlander Ltd ownership, which I purchased in Moca.

So far the love affair is well and truly alive.

In my opinion, buy wisely here and you will not regret it. But it is still strictly caveat emptor.

 

[FelixDom]

I have a question, i know we can import at max 5 years old cars does it mean 2013 model or can we import 2012 cars this year also, one of my friends told 2012 is still acceptable as of 2018, i am confused. Help would be very much appreciated.

 

[AlterEgo]

I have a question, i know we can import at max 5 years old cars does it mean 2013 model or can we import 2012 cars this year also, one of my friends told 2012 is still acceptable as of 2018, i am confused. Help would be very much appreciated.

Someone else will have to confirm, but I believe it’s acceptable until June of the 6th year. Meaning a 2012 would have to arrive and be processed before June 2018 

 

[william webster]

Agreed
June 30 is the cutoff and it's 1/2 year late or 1/2 year early depending on your situation

 

[cobraboy]

Isn't there just a fine for importing a car older than 5 years?

I imported a 2001 E350 model in 2008. Somehow a 2002 would have been acceptable, but it cost an additional 20% duty to bring in a 2001. But we did.

 

[playacaribe2]

I have a question, i know we can import at max 5 years old cars does it mean 2013 model or can we import 2012 cars this year also, one of my friends told 2012 is still acceptable as of 2018, i am confused. Help would be very much appreciated.

It is 5 years.

Because cars are produced throughout the model year and it would be rather time consuming to use actual production dates on vehicles, so the DR uses an annual 5 year rule plus 6 months.

This means a 2012 passenger vehicle would be allowed entry until June 30, 2018. Five years + 6 months.

Note that the vehicle must be landed in port on that date. Not arriving soon, or about to arrive any day, or scheduled to arrive, or still on the ship but in port, it must be landed.

Different rules apply to construction vehicles, buses, classic cars, etc.

There used to be an allowance and a penalty if you were outside the 5 years,but that has since gone away.

Not that the rules are not bent/broken depending on who your tio is.....but in general........5 years + 6 months landed.


Respectfully,
Playacaribe2

 

[reilleyp]

It is 5 years.

Because cars are produced throughout the model year and it would be rather time consuming to use actual production dates on vehicles, so the DR uses an annual 5 year rule plus 6 months.

This means a 2012 passenger vehicle would be allowed entry until June 30, 2018. Five years + 6 months.

Note that the vehicle must be landed in port on that date. Not arriving soon, or about to arrive any day, or scheduled to arrive, or still on the ship but in port, it must be landed.

Different rules apply to construction vehicles, buses, classic cars, etc.

There used to be an allowance and a penalty if you were outside the 5 years,but that has since gone away.

Not that the rules are not bent/broken depending on who your tio is.....but in general........5 years + 6 months landed.


Respectfully,
Playacaribe2

Does a 4x4 quad ATV fall under this same 5 year rule? Either way, is it a similar headache importing one and are the fees similar?

 

[cobraboy]

Does a 4x4 quad ATV fall under this same 5 year rule? Either way, is it a similar headache importing one and are the fees similar?

Yes...

 

[william webster]

easier perhaps to buy it in SD or STI...and you'll get service

the major brands are available there

 

[playacaribe2]

Yes...

And yes to jet skis also...........


Respectfully,
Playacaribe2