How can you finance a car that is for sale abroad? | FerrariChat
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How can you finance a car that is for sale abroad?

Discussion in 'Ferrari Discussion (not model specific)' started by amenasce, Mar 6, 2017.

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  1. amenasce

    amenasce Three Time F1 World Champ
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    Joe Mansion
    #1 amenasce, Mar 6, 2017
    Car is for sale in Australia. Ask is $8xx.000
    Are there solutions to finance it?
    Assume US credit and assets are great.
     
  2. AClark

    AClark Formula Junior
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    #2 AClark, Mar 6, 2017
    I've never purchased anything from Australia, but as long as I was able to provide a valid vehicle identification number , my banker never asked where the car was located.

    Heck, put it on your AMEX, and once you get it here run it through your bank like you normally would.

    :-D


    A
     
  3. Mitch Alsup

    Mitch Alsup F1 Veteran

    Nov 4, 2003
    9,744
    #3 Mitch Alsup, Mar 7, 2017
    At $8xx.00 the shipping costs will far outweigh the vehicle cost--unless you are deficient in the number of x's.
     
  4. amenasce

    amenasce Three Time F1 World Champ
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    #4 amenasce, Mar 7, 2017
    I mean $800000+.
     
  5. sherpa23

    sherpa23 F1 World Champ
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    #5 sherpa23, Mar 7, 2017
    You left out a zero. I take "$8xx.000" to be in excess of $800k. Europeans and US use commas and periods differently from each other in regards to numbers: €1,50 is one euro and fifty cents and €100.000 is one hundred thousand euros. Conversely, $1.50 is a one dollar and fifty cents and $100,000 is one hundred thousand dollars.
     
  6. amenasce

    amenasce Three Time F1 World Champ
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    #6 amenasce, Mar 7, 2017
    No one has an idea or dealt with a similar situation in the past?
     
  7. sdematt

    sdematt Karting

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    #7 sdematt, Mar 7, 2017
    My banker told me financing out of country would be much worse, but I'm Canadian, so grain of salt here.
     
  8. Drive550PFB

    Drive550PFB Two Time F1 World Champ
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    #8 Drive550PFB, Mar 7, 2017
    Standby Letter of Credit.

    Personal guaranty.

    Personal line of credit.

    Go to your US Bank. Set up a Standby Letter of Credit. (or just a Letter of Credit). Then go to an AUS bank and arrange a loan. The collateral is the US letter of credit or the SBLC. This can be done using SWIFT Messages. Google SWIFT MT760.
     

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