Importation of Used or Second-Hand Motor Vehicles #car #values #bluebook


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Legislation

Tariff item No. 9897.00.00 of the Customs Tariff prohibits the importation of:

Used or second-hand motor vehicles of all kinds, manufactured prior to the calendar year in which importation into Canada is sought to be made, other than motor vehicles

(a) imported under tariff item Nos. 9801.10.00, 9807.00.00, 9808.00.00, 9809.00.00 or 9810.00.00;

(b) imported by a settler on the settler’s first arrival but not entitled to be classified under tariff item No. 9807.00.00;

(c) forfeited or confiscated for any offence under the Customs laws, or the laws of any province of Canada;

(d) left by bequest;

(e) imported from the United States;

(f) entitled to the benefit of the United States Tariff, the Mexico Tariff or the Mexico-United States Tariff and imported from Mexico

(i) in the 2009 or 2010 calendar year, if the motor vehicles are not less than ten years old,

(ii) in the 2011 or 2012 calendar year, if the motor vehicles are not less than eight years old,

(iii) in the 2013 or 2014 calendar year, if the motor vehicles are not less than six years old,

(iv) in the 2015 or 2016 calendar year, if the motor vehicles are not less than four years old,

(v) in the 2017 or 2018 calendar year, if the motor vehicles are not less than two years old, or

(vi) on or after January 1, 2019;

Statutory Instrument

USED OR SECOND-HAND MOTOR

VEHICLES REGULATIONS

Application

1. These Regulations apply to a used or second-hand motor vehicle that is manufactured before the calendar year in which importation of the vehicle is sought to be made, if the vehicle

(a) has machinery or apparatus permanently mounted thereon and is imported for

(i) use in exploratory or discovery work in connection with oil or natural gas wells or for the development, maintenance, testing, depletion or production of a well up to and including the wellhead assembly, or

(ii) drilling for water;

when a similarly-equipped vehicle is not readily available in Canada;

(b) is received by a resident of Canada as a gift from a relative or friend who resides outside of Canada and the vehicle is to be used for personal purposes and not for any commercial purpose;

(c) is imported by a non-resident for permanent use by the non-resident at a summer or vacation residence occupied by the non-resident in Canada;

(d) is imported by a citizen of another country who is not a resident of Canada and who is employed in a defence establishment of the government of that country in Canada or who is on official military service in Canada;

(e) is imported in accordance with the Non-residents’ Temporary Importation of Baggage and Conveyances Regulations ;

(f) is imported by a contractor engaged in the construction and maintenance of a leased base established in the Province of Newfoundland by the Government of the United States for use by the contractor in the construction and maintenance of those bases;

(g) is a diesel-powered self-propelled dump truck that is mounted on rubber-tired wheels or on rubber-tired wheels and half-tracks and has a rated capacity, by struck volume, of not less than 7.2 cubic metres and, by payload weight, of not less than 15 tonnes and was imported for off-highway use to carry minerals or other excavated materials at a mine, quarry, gravel or sand pit or at a construction site;

(h) is imported by a former resident of Canada returning to resume residence in Canada who

(i) immediately before returning to Canada, had been a resident of another country for at least 12 consecutive months,

(ii) has been continuously absent from Canada for at least six months and, during the period of continuous absence, owned the motor vehicle for at least six months, or

(iii) had emigrated from Canada or had been assigned to extended duty in another country and has been compelled to return to Canada on account of illness, unemployment, educational needs or on account of other personal reasons of a similar nature;

(i) is imported by a resident of Canada returning to Canada who

(i) immediately before returning to Canada, had been continuously absent from Canada for at least 12 consecutive months,

(ii) has been continuously absent from Canada for at least six months and, during the period of continuous absence, owned the motor vehicle for at least six months, or

(iii) had been assigned to extended duty in another country and has been compelled to return to Canada on account of illness, unemployment, educational needs or on account of other personal reasons of a similar nature;

(j) is not less than 15 years old;

(k) is manufactured before January 1st of the model year of the vehicle but imported after that date and before December 31st of that year;

(l) imported as a formula or sports racing car and may not be licensed for use on a public highway;

(m) is imported by a resident of Canada who acquired the vehicle outside of Canada as a replacement for another motor vehicle owned by the resident that was damaged, in an accident that occurred outside of Canada, to such an extent that repair was impracticable;

(n) is a vehicle in respect of which the Foreign Aircraft Servicing Equipment Remission Order, 1992 applies upon its importation;

(o) is imported temporarily and in respect of which a temporary entry remission order, or any other that permits temporary entry for commercial purposes, applies upon its importation;

(p) is forfeited pursuant to the Controlled Drugs and Substances Act ;

(q) is imported temporarily under tariff item No. 9802.00.00 or 9803.00.00;

(r) is goods in respect of which sections 4 and 7 of the Akwesasne Residents Remission Order apply upon its importation; or

(s) is imported by its original purchaser and

(i) the vehicle is imported for the personal use of the original purchaser or the original purchaser’s household,

(ii) the vehicle is not imported for use in a business, in a manufacturing establishment or as equipment to be used by a contractor, and

(iii) the bill of sale for the vehicle does not specify that the vehicle has been used as a demonstration vehicle or by a car rental agency.

Exclusion

2. All motor vehicles referred to in section 1 are excluded from the application of tariff item No. 9897.00.00.


Importing a second-hand or used vehicle #car #rental #cheap


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Importing a second-hand or used vehicle

About importing a second-hand or used vehicle

You can only import a second-hand vehicle into South Africa if you have been granted a permit to do so.

The importation of used vehicles is restricted to protect the local motor vehicle manufacturing industry. Permits are only issued under specifically defined circumstances.

Mainly returning South African nationals and immigrants who have permanent residence are permitted to bring vehicles registered in their names into the country.

Other cars that may be imported include racing cars, vintage passenger vehicles, specially designed vehicles and inherited vehicles.

Before you  import a used vehicle, goods vehicle or trailer  you must first obtain a letter of authority from the South African Bureau of Standards (SABS) .

More information is available in the import guidelines on vehicles and components compiled by International Trade Administration Commission (Itac).

  1. Complete the Application for importation of a second hand or used vehicle form (IE462)
  2. If you are a South African citizen, submit the following documents:
    • identity  document or passport
    • letter from employer confirming permanent employment abroad and reflecting period of employment (salary advices, payslips, job offers, job contracts, tax returns, work permits, etc. are not considered proof of employment)
    • a certified copy of the official foreign vehicle registration certificate
  3. If you are a bona fide immigrant, submit the following documents:
    • a copy of your South African permanent residence certificate
    • a copy of your foreign passport (page with photo and details)
    • a copy of your foreign motor vehicle registration certificate
    • proof of study or research to be concluded where applicable.

How long does it take


How to arrange a loan for a second-hand car? #used #car #prices #guide


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How to arrange a loan for a second-hand car?

Tags:

Many of us prefer buying a second-hand car or a used car after obtaining a driving licence. The argument is: it is always better to go for a new car after honing your driving skills in a used car.

Also, financing the used car is no more a nightmare. A large number of lenders, both in the banking as well as the NBFC space, like HDFC Bank, ICICI Bank, Tata Capital, Magma Fincorp and Fullerton Credit, finance used cars.

However,”used car” loans are tougher to obtain. “The age of a car and its model play a key role in the financing decision for a used car. Loans for used cars on an average cost 3% more than that for a new car.

You may at best get about 75% of the value of the car as loan,” says Rajan Pental, executive vice-president (auto loans) at HDFC Bank.

Age of the car is crucial

You can get finance for any model of a new car. However, in the case of used cars, the age of the car plays a crucial role in deciding whether it is loan worthy or not.

The car model too plays an important role. If the car model has been phased out, it is unlikely that it will be financed. Most financers consider the age of the car, along with the tenure for which the borrower wishes to take a loan, before sanctioning a loan.

“The age of the car and the tenure of the loan combined together would generally not exceed seven years,” says Rajan Pental. So if a car is two years old, one can get a loan for five years.

If it is four years old, one could get a loan for only three years. “One would not finance vehicles which are more than 4-5 years old,” says Navneet Kumar Gupta, national sales head, Magma Fincorp.

Interest rates are higher

Once you have identified a car you wish to purchase and approach a bank, the bank sends in a valuation expert to calculate the value of the car.

This would be determined based on the condition of the car, number of kilometres run and the model of the car. Based on the valuation of the car, a bank or finance company would lend to you.

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So, for example, if a Maruti Swift 2009 model is valued at Rs 4 lakh, you could get about Rs 2.8 lakh, or 70%, as loan amount.

Depending on your relationship with the bank or NBFC it could even go up to 80-90 % of the value of the car. Some banks have tie-ups with specific dealers and in some specific cases they could end up financing even 80-90 % of the value of the car.

The interest rate charged would be a combination of the model of the car, age of the car and the profile of the customer.

In general “used car” loans would cost 3% higher than new car loans. So while the interest rates for a new car loan would be 11-14 %, a “used car” loan would cost you 14-16 %.

Banks score over the non-banking financial companies (NBFCs) as their interest cost is slightly lower than that offered by NBFCs. Once a customer comes up with a proposal and his paperwork is complete, it could take 6-8 working days for a bank or the NBFC to process the documents and hand over the loan.

An organised dealer helps

A growing number of people are selling their cars to buy new cars these days because of the flurry of new models hitting the market. This means you have many options available in the used car market these days.

Today the used car market has a number of organised dealers like Maruti True Value, Mahindra Firstchoice, Hyundai Advantage. ToyotaU Trust and Automart India.

These dealers source cars, certify them and put them up for sale. “Before putting up a car for sale, these dealers do a thorough due diligence.

Their personnel look at the condition of the car, ensure it is accidentfree and take care of the documentation which ensures that the car is genuine and not stolen,” says Rajesh Sood, MD and CEO, ecardlr.com. Used cars bought from these dealers come with a warranty of six months to a year.

“Most banks and NBFCs are comfortable financing a car through an organised dealer because of the due diligence done by the dealer, which reduces the financiers’ risk,” says Banwari Lal Sharma, AVP (marketing), Carwale Automotive.


Second Hand Cars – Tips for Buying a Second-hand Car #car #radios


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Second Hand Car

18 Tips for privately buying a second hand car.

Do some initial homework. Find out about the type of car you are

considering. Check out any known mechanical problems with that model.

Check out the current second hand values for the car. A good place to

start is www.whatcar .com. Also get your local paper and some of the

specialist second hand car magazines and look up the prices of similar

cars.

How much will it cost you to insure the car? That’s so easy to do on

the Internet – get a quote or two. It’ll just take a few minutes.

Also check out the car’s other running costs. Again www.whatcar .com

will help. Make sure you can afford to run the car!

When you go to see a car insist on seeing the registration

documentation, including its MOT certificate if the car is more than 3

years old. This will also show the cars’ chassis number. Check that the

documents all tallies with the car. Be sure that the person selling the

car does actually own it and always see it at the seller’s own home or

business premises.

Make sure that the address on the Registration Document is the address

where you are viewing the car – if not ask why. Be suspicious.

Examine the Road Tax disc. Is it still valid and do the registration

number on the disc matches the Registration document?

Ask to look at the cars’ Service Record. This will also show the cars’

chassis number and details of the first owner. If the Service record is

not available, has the owner kept any of the service or repair bills?

Now look under the bonnet and find the VIN Number (it could also be on

the chassis). Check out that the VIN number tallies with the number on

the Registration Document and that the number stamped on the car has not

been interfered with. This will help to ensure that the car hasn’t had

its identity changed.

Take a friend with you who knows’ about cars – not only to look at the

car but also to be a witness for what is said and agreed.

Never pay for a car on your first visit and don’t be pushed into

paying a deposit. You need to carry out some checks before you part with

any money (see 17 below).

Ask the owner if the car has outstanding finance. Take notes of what

he/she says. When you get home check out the information with RAC

Vehicle Status Check. Go to the RAC’ web site. Click on Car Buying and

then Vehicle Status Checks. The Status Check will cost you 24.99 but it

will tell you if the vehicle has outstanding finance.

Carefully examine the car in good daylight. Look for signs of repairs

and accident damage. If you have followed our advice and obtained a

Vehicle Status Checks, the Check will also tell you if the car had

previously been “written off”.

Make sure that the car hasn’t been clocked. Be aware that the average

mileage is around 12,000 per year. Be wary if the wear on the car looks

greater than the mileage would suggest. The wear on the drivers pedals

may help. Then ask when the car last had new tyres. Then look at wear on

the tyres. Does the wear look about right?

Always test-drive the car for at least 10/15 miles. By the way, don’t

forget to ensure you are insured to drive it! Do not automatically

assume that your own insurance will cover you for driving someone else’s

car. Check your insurance documents before you leave home. If the seller

says his insurance covers you, ask to see his policy – better safe than

sorry!

Still interested in the car? Then get it independently inspected.

Never hand over any money until you have seen the results of the RAC

Vehicle Status Check. And even then don’t pay any money until the car is


Second-hand cars in the UK – things you auto-know! #spain #car #hire


#second hand cars
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Second-hand cars in the UK – things you auto-know!

We Brits love our cars; whether for commuting, running the family around or just to polish at the weekends.

And did you know that Gumtree listed over 4 million car adverts last year? Whether you’re buying or selling a car, why not head over to the cars section  to try it for yourself?

To kick off the new year, we have had a look at our wealth of data and wanted to share the car buying and selling trends we saw in 2013.

Last year, our users made over 36 million searches on the site to find their perfect motor.

The most popular makes searched for were:

Vauxhall

Ford

Volkswagen

Audi

Honda

The single most popular model searched for was the Vauxhall Corsa; followed by the Volkswagen Golf and then the Vauxhall Astra.

So, who is selling on Gumtree? Overall, 72% of adverts were from private sellers, with 28% from dealers.

There were over 60 different makes of car listed, including everything from Ferraris, Maseratis and Aston Martins all the way through to 20 Robin Reliants!

The most expensive listed car listed on Gumtree was an Aston Martin V12 Vanquish for a whooping £158,500! However, a Rover 75 diesel, listed at £299, received a record 677 replies in only 38 days!

If you are looking to buy a new second-hand car, the best time to be searching is September and October, as these are the months that see the most ads posted.

Check out the infographic below to see some more facts and trends.

Copy and paste the code below into your web page to embed this infographic.

a href=”http://blog.gumtree.com/second-hand-cars/” target=”_blank” img src=”https://blog.gumtree.com/wp-content/uploads/2014/01/Gumtree-2ndHandCar-infographic.jpeg” alt=”The UK’s 2nd hand car market – things your auto-know!” / br a href=”http://blog.gumtree.com/second-hand-cars/” target=”_blank” The UK’s 2nd hand car market – things your auto-know! /a is an infographic that was produced by a href=”http://www.gumtree.com” Gumtree /a


How to buy a second-hand car #car #parts #direct


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How to buy a second-hand car

Like couture, there are many advantages in buying things second hand. There’s your contribution to the environment (lessens the carbon footprint of producing the same item) and of course the cost. It goes the same with cars. There is always a premium of buying something brand-new.  The moment you drive off the dealership your car depreciates about 20 percent of its purchase price. Although some people feel strongly about having first dibs on items or being the first to have the latest model, buying a used car certainly has its advantages. Buying a new car is like buying in the boutique for the latest season’s offering while a used car is like buying in an outlet store, where prices are slashed but it’s a few seasons old.

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Like a boyfriend, more mileage means more issues; the more ex-girlfriends, the more girls to fight about. Like any machine, there’s a lot of wear and tear that can happen with extensive usage. A car with 20,000 km will probably run for about 25 percent less than brand-new.  Check the steering wheel and the pedals to see if the extent of use matches the mileage. If the odometer says a couple of thousand miles, while these two items looked like it was used since the shoulder pads was an in thing, there’s a big chance that your odometer was tampered with.

Signs of damage

Damaged goods always have baggage. For cars, this will be the cause of a lot of heartache and money lost for repairs. Inspect the car for any discolorations or overspray of paint colors. Open the doors and see if there is a discrepancy on the outside and inside color. Inspect if the color shades are the same all throughout the car. Another telltale sign is the license plate. See if there are dents or signs that it was crumpled and straightened out. Ask if there was a change of plate number and why. Also check the lock of the trunk, see if the mechanism is working properly and if not ask why. Usually when you are rear ended, and the trunk lid was not damaged, they will only change the bumpers, the misalignment of the latch can be the end result.

Behavior when things get bumpy

Like any relationship, before the commitment, comes the test drive; when you test-drive a used car, you need to see how it rides in a bumpy situation. Find a regular hump where you can drive the car a little faster than usual. Make sure it’s a hump that is big enough to activate the shocks of the vehicles and small enough not to speed bump the car into the air. This exercise will show if there are some loose joints or clanking noise. Check also all the gears (MT) and modes (AT) to make sure there are no warning lights setting off. Check also the windows, side mirrors, switches, etc.

After you have done your test drive, check under the vehicle if there is some form of liquid leaking. If its water, it may just be the air conditioner or possibly a leak from the radiator. If it is from the radiator, then the vehicle may be prone to overheating. If there are oil leaks, then this is more serious and sets off a red flag for purchasing as well.

Where they go for repair

Cars bought first hand from the dealership usually have a repair record with the dealership. There you can see what kind of repair and maintenance is done. A car that is maintained in the dealership has an advantage that there is no replacement or non-endorsed parts on the vehicle, which can sometimes be a cause of a problem later on.

Check for ‘red flags’

Ask for a copy of the OR and CR. You can either text Traffic Management Group (TMG number: 2600) to see if this car is clean or a stolen one.  You can also check if this car is a recovered car, which usually results in a change of plates. Check if the chassis and engine number match the records as well.

Where the cars are

Some good places to scout for cars are your Sunday classified ads, sulit.com and kotse.com. Although it may seem convenient to go to the used-car lot, you need to be extra-stringent in screening the vehicles.  Usually before they display the vehicles, they do some detailing and repairs that can mask problems about the vehicle, make sure you ask what kinds of repair were made to the vehicle beforehand.

Also good second-hand vehicles are the manufacturer-guaranteed pre-owned vehicles. Most of the manufacturers have pre-owned vehicle programs. Although the price is a little higher than your usual straight to owner transaction, you would have the peace of mind that the manufacturer has checked the units to be in good condition before it was traded in.

Make sure you know the going rate of that particular year model car.   Call a couple of similar vehicles and see how much people are willing to sell the unit. Go to the local dealership and see if they have the same year model vehicle and ask for the price.

Be prepared for some refurbishing

Accept that whatever vehicle you buy, you would need to do some work on it, whether it’s an extensive check-up, tune-up or change of brake pads.  You would need to shell out money to make sure it runs in tiptop shape.  This will also help you diagnose problems or parts that need to be replaced that if left unchecked will cause a bigger problem later on.

Consider the resale value

There are some car brands that have very low resale value. This makes them a good candidate for buying them second hand. Cost of repair, gas consumption, availability of parts, demand and brand usually dictate resale value. Brands like Toyota, Honda and Mitsubishi have good resale value due to their extensive network and having the longest relationship with the Filipino consumers. Expect to pay more for these vehicles.  Relatively new brands such as Hyundai, Ford and Subaru are catching up in terms of brand values; they are good candidates to consider as well.

Buying used premium cars

High-end luxury cars, on the other hand, offer some sort of balancing factors. You can usually buy at a better deal, but will be leveled later on with expensive maintenance and repair.

In the end, you must consider how much work the car is in for. If you would be working the vehicle to the ground like a slave master, try to go for brands that are known to be reliable workhorses. But if it’s just going to and from the office, which is about 30 minutes to one hour away, you can include styling and form as part of the requirements. Used cars can be your best friend as long as you know how to mix style, functionality and cut throat bargaining.


Cheaper second-hand imported cars a step closer #pictures #of #cars


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Cheaper second-hand imported cars a step closer

February 14 2014

    Sam Charlwood

    Used luxury cars could get a lot cheaper.

    Used car imports could be a step closer to reality, opening the door to cheaper luxury models from overseas.

    Plans are afoot to establish an industry association and remove federal regulations which impede the practice.

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    Following Toyota’s announcement on Monday that it will cease its Australian manufacturing operations in 2017 – joining Ford and Holden – importers say there is no reason to continue with restrictive laws designed to protect local car makers.

    However, motoring groups say the plan would be fraught with issues, suggesting stolen and unsafe cars could make their way into the country.

    A panel of importers and experts from New Zealand will meet with Australian officials later this month to discuss the relaxation of laws. It’s hoped the group can pare back regulations to similar conditions found in New Zealand, where used imported vehicles comprise about 50 per cent of the overall market.

    David Vinsen, the chief executive of New Zealand’s Imported Motor Vehicle Industry Association, will visit Australia to join the discussions. He says the introduction of used car imports would bring a “marked reduction” in new and used car prices in Australia.

    “In New Zealand, once the used imports started coming in the price of new vehicles went down and the level of specification in cars increased considerably, injury accidents came down and the road toll was markedly reduced because the cars were safer” he said.

    “It changed the way things operated in provincial towns because families could afford to operate a second car and travel.

    “If and when Australian laws are changed and used imports are allowed, we think they would bring the same benefits for consumers and for the wider industry.”

    However, critics of cheaper imports counter that by pointing to the reduction in the road toll in Australia over the past decade, which can be partially attributed to the introduction of newer, safer cars.

    Productivity Commission report released last month  outlined how large-scale used car importation would effectively liberalise the Australian market, increasing competition and helping to lower new car prices.

    “The Commission expects that, in the long term, the removal of unjustified restrictions to the large-scale importation of second-hand vehicles would benefit the community as a whole,” the report said, adding current regulations reduced competition.

    Currently, about 1000 vehicles are imported into Australia each month under the restrictive Registered Automotive Workshop Scheme. Some have been built pre-1989, or are either vans or specialist and enthusiast vehicles brought in from Japan through loophole measures. There is also a get-out which applies to individual vehicles imported to Australia which have been owned by the same person abroad.

    David Parfitt, a manager for Australian importer Autohub, says used imports would unequivocally benefit consumers.

    “Used import laws will bring cars that are unaffordable for the general public much more affordable,” said Parfitt, whose company currently imports 350 vehicles each month.

    “Cars like the 5-Series or 7-Series BMW ranges – you look at the prices of those cars compared to the prices paid in Europe and it’s chalk and cheese.

    “In New Zealand, you can now get European luxury cars just as cheaply as you can get some of the Japanese cars now – I think the same thing will happen here.”

    However, there is strong resistance from opponents who say the long term disadvantages of potentially lower safety and emissions standards would far outweigh any short term pricing benefits.

    “We would be very cautious about going down that path,” Federal Chamber of Automotive Industries chief Tony Weber said. “You would have to look at the safety, security and environmental aspects of used imports – clearly not areas of expertise for the Productivity Commission.

    “If we want to maintain high standards and protect consumers and the motoring public, we would not advocate moving to grey imports.”

    The Australian Automobile Association echoed Weber’s sentiments, while another industry expert told Fairfax the move would have a disastrous effect on current used car values.

    New Zealand’s average vehicle fleet age, at 14 years old, is one of the oldest in the developed world. Since peaking at almost 11 years in the late 1990s the average age of the Australian vehicle fleet dropped to 10 years in 2013, according to the Australian Bureau of Statistics. In some European countries the average vehicle age is less than eight years.

    The industry source said if Australia was to proceed with the import laws, the government would need to consider a cut-off date of at least seven years (the same set by New Zealand in recent years), as well as minimum NCAP ratings or emission levels.

    Vehicle odometer readings and histories (including whether the car was involved in a crash or has been stolen and rebirthed) are also understood to be recurring issues in New Zealand.

    Vinsen argued New Zealand enforced stringent laws to prevent stolen, written-off or damaged cars entering its market. He said a separate industry around spare parts and other supply chains had sprung up since imports took effect more than two decades ago, negating concerns about availability of spare parts.

    “There’s a whole section of a government department in New Zealand now that is devoted to making sure that vehicles that come into the country meet our standards and specifications,” he said.

    “Arguably, we have probably the most stringent set of tests and examinations in the world. The procedures that we have in place, which are government-controlled and are run by government-appointed agencies, are more about the documentation and pedigree rather than the vehicle.”

    Calls to relax import laws come as motoring groups urge the federal government to scrap a 5 per cent tariff which exists on new vehicles, as well as the controversial luxury car tax which applies to vehicles over $60,316.


    How to buy a second-hand car safely #automobile


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    How to buy a second-hand car safely

    Car being locked

    Used cars can prove excellent value for money and be a worthwhile investment. However they can also prove a risky business, with potential pitfalls including outstanding finance secured against the vehicle, fiddled mileage and even being lumbered with a stolen car.

    Here, we take a look at what you should be aware of when buying a used car so you can prevent your new wheels driving you mad – and costing you a fortune.

    Outstanding finance

    Unpaid finance on a used car is one of the most serious and potentially costly situations a buyer can find themselves in. According to the vehicle data provider, HPI, one in every four used cars it checks are found to be in this situation.

    The unpaid loan therefore falls on the shoulders of the new owner to pay while the fraudsters walk away with your money – and no debt. So not only could you lose cash, it is also likely you would have the car seized so that the finance company can recoup their losses.

    ‘Clocking’

    This is an illegal practice in which the odometer of a vehicle is altered so it appears to have fewer miles on the clock. This clearly attracts a higher price – which could leave you open to being fiddled out of hundreds of pounds.

    According to the AA, most cars average around 10,000 miles a year, so do your homework and check the age of the car against the mileage to be sure nothing is amiss. Tell-tale signs include worn screws on the dashboard, worn pedals and a shabby steering wheel on a car that has supposedly not travelled very far.

    Cut and shut

    This is when the remains of two cars that were written off in an accident are welded together to form a new vehicle, which takes on the legal identity of just one of the cars. This can be extremely difficult to spot just by looking at the car.

    Cloned cars

    The equivalent of identity fraud, this is when a car that is an identical match to another has its number plate swapped to either disguise the fact that it is stolen or so the owner can avoid parking tickets and fines. Worryingly, you would only become aware of this if you suddenly started receiving fines that you knew didn’t apply to you. Therefore, be cautious of anything without a V5C registration document which is consistent with the car’s age.

    How can I protect myself?

    The most comprehensive means of ensuring you don’t fall foul to dodgy dealings is to get a professional check. HPI offers this service from £19.99 and will look into the car’s history to ensure that it is all it seems.

    It will verify whether there are any outstanding loans left on the car, if it has ever been written off or reported stolen, whether the mileage has been tampered with and if it has a good CO2 rating. For peace of mind, it’s a small price to pay and in the long run could save you thousands.

    The AA also offers a data check along with an in-depth vehicle inspection to make sure that your car is safe and roadworthy. Prices start at £125 for AA members and £139 for non-members but the cost depends on the engine size and the type of inspection that you want. More details can be found on the AA’s website .

    How to finance your car

    Once you’ve found the right second-hand car and had it checked for any irregularities, it’s time to think about the best way to afford it.

    While you may want to secure finance through the dealership where you buy your car, it may be worth considering getting a more competitive rate of interest by applying for a personal loan direct from the bank.

    There are some good rates on offer at the moment on personal loans, so it is definitely worth shopping around to see what is available. You’ll need to decide on the term you want to borrow the money over and exactly how much you’ll need. MoneySupermarket’s loans channel allows you to compare a variety of loans and find the best deal for your circumstances.

    The current market leader at the moment is M


    How to buy a second-hand car #car #wax


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    How to buy a second-hand car

    Like couture, there are many advantages in buying things second hand. There’s your contribution to the environment (lessens the carbon footprint of producing the same item) and of course the cost. It goes the same with cars. There is always a premium of buying something brand-new.  The moment you drive off the dealership your car depreciates about 20 percent of its purchase price. Although some people feel strongly about having first dibs on items or being the first to have the latest model, buying a used car certainly has its advantages. Buying a new car is like buying in the boutique for the latest season’s offering while a used car is like buying in an outlet store, where prices are slashed but it’s a few seasons old.

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    Like a boyfriend, more mileage means more issues; the more ex-girlfriends, the more girls to fight about. Like any machine, there’s a lot of wear and tear that can happen with extensive usage. A car with 20,000 km will probably run for about 25 percent less than brand-new.  Check the steering wheel and the pedals to see if the extent of use matches the mileage. If the odometer says a couple of thousand miles, while these two items looked like it was used since the shoulder pads was an in thing, there’s a big chance that your odometer was tampered with.

    Signs of damage

    Damaged goods always have baggage. For cars, this will be the cause of a lot of heartache and money lost for repairs. Inspect the car for any discolorations or overspray of paint colors. Open the doors and see if there is a discrepancy on the outside and inside color. Inspect if the color shades are the same all throughout the car. Another telltale sign is the license plate. See if there are dents or signs that it was crumpled and straightened out. Ask if there was a change of plate number and why. Also check the lock of the trunk, see if the mechanism is working properly and if not ask why. Usually when you are rear ended, and the trunk lid was not damaged, they will only change the bumpers, the misalignment of the latch can be the end result.

    Behavior when things get bumpy

    Like any relationship, before the commitment, comes the test drive; when you test-drive a used car, you need to see how it rides in a bumpy situation. Find a regular hump where you can drive the car a little faster than usual. Make sure it’s a hump that is big enough to activate the shocks of the vehicles and small enough not to speed bump the car into the air. This exercise will show if there are some loose joints or clanking noise. Check also all the gears (MT) and modes (AT) to make sure there are no warning lights setting off. Check also the windows, side mirrors, switches, etc.

    After you have done your test drive, check under the vehicle if there is some form of liquid leaking. If its water, it may just be the air conditioner or possibly a leak from the radiator. If it is from the radiator, then the vehicle may be prone to overheating. If there are oil leaks, then this is more serious and sets off a red flag for purchasing as well.

    Where they go for repair

    Cars bought first hand from the dealership usually have a repair record with the dealership. There you can see what kind of repair and maintenance is done. A car that is maintained in the dealership has an advantage that there is no replacement or non-endorsed parts on the vehicle, which can sometimes be a cause of a problem later on.

    Check for ‘red flags’

    Ask for a copy of the OR and CR. You can either text Traffic Management Group (TMG number: 2600) to see if this car is clean or a stolen one.  You can also check if this car is a recovered car, which usually results in a change of plates. Check if the chassis and engine number match the records as well.

    Where the cars are

    Some good places to scout for cars are your Sunday classified ads, sulit.com and kotse.com. Although it may seem convenient to go to the used-car lot, you need to be extra-stringent in screening the vehicles.  Usually before they display the vehicles, they do some detailing and repairs that can mask problems about the vehicle, make sure you ask what kinds of repair were made to the vehicle beforehand.

    Also good second-hand vehicles are the manufacturer-guaranteed pre-owned vehicles. Most of the manufacturers have pre-owned vehicle programs. Although the price is a little higher than your usual straight to owner transaction, you would have the peace of mind that the manufacturer has checked the units to be in good condition before it was traded in.

    Make sure you know the going rate of that particular year model car.   Call a couple of similar vehicles and see how much people are willing to sell the unit. Go to the local dealership and see if they have the same year model vehicle and ask for the price.

    Be prepared for some refurbishing

    Accept that whatever vehicle you buy, you would need to do some work on it, whether it’s an extensive check-up, tune-up or change of brake pads.  You would need to shell out money to make sure it runs in tiptop shape.  This will also help you diagnose problems or parts that need to be replaced that if left unchecked will cause a bigger problem later on.

    Consider the resale value

    There are some car brands that have very low resale value. This makes them a good candidate for buying them second hand. Cost of repair, gas consumption, availability of parts, demand and brand usually dictate resale value. Brands like Toyota, Honda and Mitsubishi have good resale value due to their extensive network and having the longest relationship with the Filipino consumers. Expect to pay more for these vehicles.  Relatively new brands such as Hyundai, Ford and Subaru are catching up in terms of brand values; they are good candidates to consider as well.

    Buying used premium cars

    High-end luxury cars, on the other hand, offer some sort of balancing factors. You can usually buy at a better deal, but will be leveled later on with expensive maintenance and repair.

    In the end, you must consider how much work the car is in for. If you would be working the vehicle to the ground like a slave master, try to go for brands that are known to be reliable workhorses. But if it’s just going to and from the office, which is about 30 minutes to one hour away, you can include styling and form as part of the requirements. Used cars can be your best friend as long as you know how to mix style, functionality and cut throat bargaining.


    What is a Second-Hand Car? Kelley Blue Book #auto #sales


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    Q: What is a Second-Hand Car?

    Trusted Tools from KBB.com

    A second-hand car is a car that someone else owned before offering it for sale to another owner. Buying a second-hand car can save you money as long as the used car you buy is in good condition and can continue to run in good working order for several years after.

    You can buy a second-hand car directly from its owner or from a dealer. Used cars are also available through Internet auctions and online dealers. Before you buy a used car, you should be aware of its approximate retail value. The Blue Book value of a car is its retail value as determined by prices at which similar cars sell. Use KBB.com to obtain the Blue Book value of any used car.

    The Blue Book value is only one factor to consider when you want to buy a used car. You’ll also want to check its repair and maintenance history. Begin by finding out whether the make and model you are considering is mechanically reliable. Online and print consumer publications, as well as specialized car ratings sites, provide information about the reliability of used cars. Once you decide that the make and model you are considering is reliable enough, get the maintenance and repair record for the specific car you want to buy. You can get this from the owner or dealer, or you can ask the owner where he had his car serviced and request repair records from the service center. Beware of cars that have been in accidents or have undergone major repairs. Accident damage is difficult to repair. A car that has undergone major or overly frequent repairs may be a lemon that will constantly need additional repair work.

    One way to protect against the cost of future second-hand car repairs is to buy a car warranty from the car manufacturer, a dealer or a third party. Some car manufacturers offer certified pre-owned cars, which are used cars that the dealer has inspected and brought up to certification standards laid out by the manufacturer, and these cars include manufacturer warranties. Certified pre-owned car warranties provide coverage for repairs during the term of the warranty, and dealers that offer certified pre-owned cars select only cars that are likely to be mechanically reliable. Some dealers offer car warranties for second-hand cars, and there are reliable third-party car warranty companies that specialize in warranties for used cars. In fact, a third-party warranty company may actually issue a dealer’s warranty, so make sure you know who really stands behind your warranty. Check the Better Business Bureau website to verify the reputation of any third-party warranty company.

    Buying a reliable second-hand car can save you quite a bit of money. A new car loses its value very quickly, so the price of even a well-maintained recent-model used car is substantially lower than that of a new car. You’ll be able to predict your maintenance expenses when you properly research the records for the make and model of car you wish to buy, as well as for each particular car you are considering.