USA import duties and costs for a Ferrari? | FerrariChat

USA import duties and costs for a Ferrari?

Discussion in 'Ferrari Discussion (not model specific)' started by GOB, May 26, 2004.

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  1. GOB

    GOB Karting

    Dec 22, 2003
    63
    Panama
    Full Name:
    Gus
    I was wondering if someone could point me in the right direction (US Customs, DOT, etc.) in order to find out how much import duty I would have to pay if I wish to import a Ferrari into USA?

    I have available brand new 2004 USA-spec Ferraris and in order to get a proper selling price I would need to know how much I would have to pay in duties (import tax and any other costs involved).

    Thanks in advance for those who reply.
     
  2. Cavallino Motors

    Cavallino Motors F1 World Champ
    Lifetime Rossa

    May 31, 2001
    14,143
    Florida or Argentina
    Full Name:
    Martin W.
    Import duty is 2.9% or 1.9%, not that it makes a big difference.

    The conversion cost is usually $20,000 - $25,000 for a 360.

    My understanding is that 2003 and 2004 cars are not eligible to be imported.
     
  3. GOB

    GOB Karting

    Dec 22, 2003
    63
    Panama
    Full Name:
    Gus
    Besides Carfax, is there another place to verify that in fact the VIN #s I have are of USA spec cars? Is there some sort of Ferrari VIN decoder available that I could use to make sure that I in fact have USA spec cars?
    Thanks
     
  4. GOB

    GOB Karting

    Dec 22, 2003
    63
    Panama
    Full Name:
    Gus
    http://www.red-headed.com/index2.html

    I did search it and in fact, the cars that I have locally are in fact USA spec. Brand new, never registered, 2004 360 Spider F1, Rosso Corsa, tan interior, black top, red calipers, rear Challenge grill, shields, Hi-fi, CD changer, electric seats. Available inmediately. Vin #ZFFYT53A640136894
     
  5. Steve Magnusson

    Steve Magnusson Two Time F1 World Champ
    Lifetime Rossa

    Jan 11, 2001
    26,794
    30°30'40" N 97°35'41" W (Texas)
    Full Name:
    Steve Magnusson
    "Locally" doesn't mean anything to us yet because you haven't given your location.

    Are you saying that you have the opportunity to buy a US-spec Ferrari that isn't now in the US but you would like to import it into the US (i.e., no "conversion" required)?
     
  6. GOB

    GOB Karting

    Dec 22, 2003
    63
    Panama
    Full Name:
    Gus
    I am in Latin America and wish to take a US-spec car into USA and sell it there. No conversion required at all. I am currently speaking with a forwarder and getting all of the paperwork ready from the DOT and figuring out the exact import duties owed in order to establish a price on these vehicles. I have been told that it would take approximately two to three weeks from the time the car leaves port and is already titled and ready to be sold in Miami.

    I too found it extremely odd that these cars are available right now since I am aware of the multiple year waiting list in the US. I have looked up the VIN numbers and they do match to US-spec cars. I did search on Carfax and there is no record on them, I merely get an exact match to the vehicle description. Only thing that comes to mind is that the quotas for dealers outside the US have not been fulfilled as others in the US and this dealer has cars he cannot move locally so he offered me to help him sell them elsewhere.

    No, this is not a prank, nor I am a scammer, just trying to help out a someone else while at the same time potentially making a profit by doing something with what I truly enjoy (cars).
     
  7. f355spider

    f355spider F1 World Champ
    Owner Rossa Subscribed

    May 29, 2001
    18,044
    USA
    I imported a BMW from Canada last year....you pay 3% on the first $1000, and 2.5% on the balance. They determine the value based on your receipt for the vehicle. So I showed the US Customs officer my bill of sale, he converted it to US dollars, then charged me $30 for the first $1000 and the 2.5% on the balance of the value.

    They will also check that the speedometer reads in MPH, they don't care if the odometer reads in KM's. So if MPH is shown in lower case, that is fine. They will also need a letter from the manufacturer certifiying that the car meets current USA DOT/EPA specs, or you must use a "registered importer" who will certify and or modify the car to meet USA DOT/EPA specs. If the car IS a USA compliant car, and has the sticker in the door jam, then you are set.

    If you are a car dealer/importer, then you MUST change the speedometer and odometer over to read in miles. It is not required for personal use, as long as the speedometer reads MPH, again, even in lower case is fine. If you later resell the car, then again, by federal regulation, you MUST convert the speedometer and odometer to read in miles (though I doubt anyone is checking at that point...)

    In BMW's infinite wisdom, they ONLY read in kilometers in Canada, so I had the dealer in Vancouver, convert to a USA dash panel before importation. Along with the letter from BMW Canada stating the car is fully in compliance with USA DOT/EPA regs, I was "good to go".

    Dave
     
  8. pino

    pino Karting

    Nov 1, 2003
    208
    South Central PA


    US-spec or not, I hope you tell the new owner in the USA that the car will have NO warranty through FNA.
     
  9. f355spider

    f355spider F1 World Champ
    Owner Rossa Subscribed

    May 29, 2001
    18,044
    USA
    Excellent point....in my case, BMW Canada fully transfers the warranty and roadside assistance to BMW North America (USA). The only thing that did not transfer is the "free maintanence plan", so I am driving back to Vancouver shortly to have the last service performed, under that agreement.
     
  10. GOB

    GOB Karting

    Dec 22, 2003
    63
    Panama
    Full Name:
    Gus
    I currently own a BMW Euro spec car and was wondering if I could bring it to the States, but unfortunately I could not get a letter from BMW stating its certified for US roads since my engine was never offered in US (S50B32, 3.2L, 321hp).

    The Ferraris in question read in MPH in large numbers, not in small numbers. I will check for the sticker that you mention to see what shows. As far as warranty, the local Ferrari dealer tells me that for a fee (few thousands) he sends his warranty book back to Italy and gets one back from Italy stating warranty for USA, meaning the owner will have a full US warranty on the car. Of course, I will verify this and get official documentation before I even consider marketing the cars.

    One of the things that leads me to believe this is all OK is the fact that this dealer has already sold a vehicle to a person locally who then exported the car to USA where he has a summer home.

    Again, many thanks for the replies.
     
  11. Tyson

    Tyson Formula Junior

    Jun 5, 2003
    636
    Idaho
    There was an 03' 360 Spider from Venezuela on Ebay...no warranty.Good Luck
     
  12. GOB

    GOB Karting

    Dec 22, 2003
    63
    Panama
    Full Name:
    Gus
    Already doing arrangements to get letter from Italy stating that the cars do in fact have US warranty as well as the warranty book stating Ferrari North America.

    Tyson: any chance you have any kind of info on the car from Venezuela? I searched eBay and found no listing (even completed ones) that states that the car is in Venezuela. I wish to get in touch with that person to see his experiece and why it did not have a US warranty.

    Again, not out to cheat anyone, just doing my due diligence as I want to make sure for myself that the buyer will have no issues at all with these cars. I will not advertise the cars for sale unless I am 1000% sure that all will be OK and it would be as if buying from any US dealer.
     
  13. Auraraptor

    Auraraptor F1 World Champ
    Lifetime Rossa Owner

    Sep 25, 2002
    13,969
    MO
    Full Name:
    Omar
    Where in Ven is it located? I have close friends from and in that region. One is currently in Miami but goes back and froth regularly.
     

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