Selling a car overseas

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schomosport
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Selling a car overseas

Post by schomosport »

Are there any issues or difficulties in selling/exporting a used racing car to another European country?

On the face of it, once the purchase price is in my bank account the buyer can send his lorry or whatever and come and collect the car.

Appreciate any advice from those who have done this before since my above statement just sounds a little too easy.

What am I missing? Are there any paperwork/Customs/VAT issues I need to be considering? Or are we truly an open market and its no different to selling a car as one would within the UK?

Thanks
Schomosport

tony edwards
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Re: Selling a car overseas

Post by tony edwards »

once the money is in your account you're pretty much ok. just make sure that the money is put into your account by 'transfer' as opposed to somebody paying a cheque into your account (which will show in your balance, but subsequently bounce)

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andrewcliffe
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Re: Selling a car overseas

Post by andrewcliffe »

If its within the EU, no problems for either buyer or seller.
If outside EU, more problems for the buyer, but all his problems.

Once money has cleared (bank transfer - too many dodgy cheques from foreign buyers) he can take it away.
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jimblockley
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Re: Selling a car overseas

Post by jimblockley »

no problem Mark i sold my Lola to South Africa, good idea to get as much info about the buyer as possible just in case.

Check with your bank that the transfer is genuine and can not be reversed.

Where is it going to? Shame a mono spec car is leaving the country.

triple j motorsport
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Re: Selling a car overseas

Post by triple j motorsport »

I have been ripped off by a guy in europe on for parts that had to be paid for in advance so avoid him!

[Triple J has named the person and the name is held by the club but has been deleted as a precaution. - Moderator]

triple j motorsport
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Re: Selling a car overseas

Post by triple j motorsport »

Aways make sure even a bank transfer has cleared Barclays told me one could not be returned or cancelled but they were wrong! Always move the funds to another account before you sell.

Beware of mistakenly over paying! well known con

Don't accept anything that you think is dodgy or you may end up with guys at your door to pick up goods/car they have paid for with rubber money. Police won't get be interested unless you say your being robbed and they armed!

I have sold plenty of parts and a car over seas, plenty try and con you trust no one and you'll be fine!

stevengriffin
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Re: Selling a car overseas

Post by stevengriffin »

Watch out for Euro 500 notes, even if they are genuine, and they usually are, nobody wants them. I would suggest keeping a member of the buyer's family as ransom until money has cleared, a small child will normally suffice.
I have bought and sold boats abroad and it was full of grief, all was well in the end but some very anxious moments, mainly involving dealers who don't want the merchandise to actually ever be owned by them. One bloke wanted me to pay him partially in diamonds, to avoid tax I suppose, Mrs Griffin drew the line at this. She suggested that if I was were to buy diamonds for anyone it should be her. Not unreasonable I suppose.

schomosport
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Re: Selling a car overseas

Post by schomosport »

Thanks for all the advice.I'm very much withthe TrpleJ and SGrifin apprach - can't bee too careful.

I have sold spares overseas before and have had no problems (touch wood) but as suggested the money gets transferred to account no. 2 the moment it lands in account no.1.

Buyer's gone cold any way so you won't have to buy it just yet Jim!
Schomosport

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Wingnut
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Re: Selling a car overseas

Post by Wingnut »

Write a recipt. On the receipt state the vehicle is sold EXW (Incoterms) and that all duties are payable by the buyer.

Add sold as seen :-)

Ensure your funds have cleared by 2 weeks minimum, ves any fake cheques from bouncing..

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