Guys, I have been told I will have to move to Singapore. I love Singapore and am happy to go but want to take two cars with me. Either a 430 and 997 or the 997 and a Cayenne Turbo (wife) The Singapore Customs and Excise website does nothing but try and put you off from shipping your car. Since I will be a temporary resident I am wondering if there are some special exemptions. If you have ANY advice that would help I would be REALLY grateful not to mention shouting you a lovely meal when I finally get there! Thank you in advance!
There is a reason why the Singapore Customs & Excise website does nothing other than put you off; that's their whole point! When I was told I was moving to Singapore from Tokyo I looked into bringing a couple of my toys as well, but once I delved into it deeper it became clear that it was a near impossible (read that as "extremely expensive") proposition. Ultimately I took the option of sending them home to Australia and coming to Singapore sans car. Although I'd lived in Singapore before it still took me a while to get my head around car prices here before finally paying up. I know they have changed (or were proposing to change) the import rules on used vehicles. Maybe one of the guys on the site can put you in touch with a parallel importer who may be able to shed more light on the subject for you. But, my personal advice. Sell or export elsewhere and buy something once you get here. You'll save yourself alot of heartache.
Damn, not what I wanted to hear.... I will have to tell the company to either pay me a whacking great bonus OR give me a nice car allowance!! Wonder what it would cost to lease a 997 in Singapore......
www.onemotoring.com.sg lots of info here. I would think its better if you just sell your car, and pick another Ferrari here. You can import your car's here, but you have to pay taxes which is quite high, but it can be done. Your car must be less than 3 years old to be eligible.After paying taxes, you have to pay 10k SGD to the govt since your car would not have OMV and you have to pay COE which should be ard 15 to 20k. So thats all u need to do. Not too hard.. but its a bit pricey, imho.
Thanks for the reply! I am still convinced there must be a way. EVEN if, it means bringing a car in as a temporary import and then shipping it back after a year or something.... Will investigate more!
You may drive yourself mad in Singapore. The government puts some thought into preserving its' revenue base...
Not worth doing it unless you're on diplomatic relationship. You typically lose about S$50-80K a year on 997T & 430 here. Depending on demand & supply, it can swing from as low as S$30-100K. That's excluding insurance (I think you can "import" your NCB), annual road tax & finance interests losses (unless you pay cash). There's some importers that bring in used exotics from overseas & sell them @ lower price than "authorised stocks", so called "Grey imports" it'll have lower re-sale & poorer chances as well. There's tax refund when you re-export the cars or export used cars that's less than 10yrs old here. FYI, used 430 coupes are in the region of US$420-480K for early examples. I would suppose a used 997T is about US$400K+ for a 1yr old. Very few owners keep them for more than 3yrs. Lastly, there's no lease plans on exotics here but I've seen some dealers offering them @ insane prices. A Gallardo was something like US$2000 a day!
I did manage to "import" my NCB from Japan, with AXA being the only insurer willing to accept it (but it had to be in English). And agreed with Jon .. a percentages of the taxes you'll pay when bringing the cars in will be refunded if you re-export them again. Whether that makes it worthwhile I can't say but I'll be interested to hear the result.
wow, that sucks big time! One of my brothers neighbours (younger bro lives in Singapore) has a Gallardo. I will have get him to take me for a ride in it now and then! I might give my 997 to my dad and use it whenever I am in London which is about 6 - 8 weeks a year! Now, what to buy in Singapore, I love Audi's - might just get an A4 - a fast one or a BMW 335i OR a Porsche Boxster S. They are affordable and all cars I like! Any suggestions - let me know! It will be the first time I buy a "regular" car since 2001!
alternatively, you can wait till Singapore has its new race circuit near Changi Airport, then you can store the car on the track premises, but only drive it on the track
Comon ante up! I made the mistake when I first came here to be sensible and buy a "cheap" car, but missed owning an exotic so much that I finally opened cheque book. End result is I now feel disapointed that I missed the first year driving around in a ricer. Sure cars are more expensive here, but I like to look at it as an interest free loan. Depreciation is actually much the same as any other country (infact it might even less than the UK), so the price premium you effectively pay you'll get back when you sell it. At least that's how I justified it to the minister of finance, and she signed off on it. By the way, when do you actually plan on relocating here?
hi Derek K, depreciation is only less than in UK because of the strong Euro vs US$. this will bite back when the US$ rebounds (but when ..... )
Good points Derek - I think you sold me : ) I am easily convinced when it comes to cars! The company wants me there yesterday but I want to stay in Tokyo until autumn and ideally start on November 3! BUT, I won't know for sure for another few days.
