Risk Of Duty Hike Or Changes After Opening Lc With A Permit

[jterminator]

I'm thinking about getting hold of a permit via a known chap and placing an order for a vehicle via the agents (Prest1ge or D1mo).

Is there a risk involved with any potential Duty Hikes before the vehicle is cleared in Sri Lanka?

Ex: The going rate for a 2013 520D U/R is around 10.3 ish now. However, If I place the order via the agents I can get the face-lifted '14 version (hinted by the agents) delivered in around 3~4 months for around 1 mil cheaper.

However, Certain people have been telling me its safer to purchase ex stock vehicles as there is a risk of import duty/procedure changes Even after opening an LC with the agent. Is this a legitimate risk? To be honest I'm not even sure what it means to "buy a permit" from someone - do they change ownership of this "permit" even before we open the LC for the new vehicle???

This is the first time I'm considering using a permit or placing an order directly with an agent as I have always bought Registered vehicles from local dealers up to now. So Any and all input will be MUCH appreciated thanks in advance.

[Crosswind]

Yes, there is also a risk of the sky falling on our heads after you place the order. So its better to put all the money you have in a gunny bag and sleep on top of it.

[VVTi]

And I thought the rising CEB prices are worry enough for people...

Edited June 4, 2013 by VVTi

[priyanka]

i think you have 2 options

1. ask it from a good SASTHRA man/woman

2.meet dr. P B Jayasundara, and ask it from him

i think they are only people who can help you .................

[jterminator]

An asterix reference??? That's old school

[Clark's son]

AFAIK
The JPY declined from a very high value to a very low one recently due to a financial policy which was heavily criticized by the Japanese inverters,

So there is a high chance that the JPY may increase in a very steap manner just like it decreased.

But the USD did not decrease much and will not increase much during the period of order.

So it's safe to import one.

But importing a JPY vehicle is a high risk.

[Hoonigan]

I'm thinking about getting hold of a permit via a known chap and placing an order for a vehicle via the agents (Prest1ge or D1mo).

Is there a risk involved with any potential Duty Hikes before the vehicle is cleared in Sri Lanka?

Ex: The going rate for a 2013 520D U/R is around 10.3 ish now. However, If I place the order via the agents I can get the face-lifted '14 version (hinted by the agents) delivered in around 3~4 months for around 1 mil cheaper.

However, Certain people have been telling me its safer to purchase ex stock vehicles as there is a risk of import duty/procedure changes Even after opening an LC with the agent. Is this a legitimate risk? To be honest I'm not even sure what it means to "buy a permit" from someone - do they change ownership of this "permit" even before we open the LC for the new vehicle???

This is the first time I'm considering using a permit or placing an order directly with an agent as I have always bought Registered vehicles from local dealers up to now. So Any and all input will be MUCH appreciated thanks in advance.

Well, a lot can go wrong within 3-4 months but but there's nothing much you can do about it. Everything from forex fluctuations to government policy changes are on the table. The way the SL government implements certain changes are highly unpredictable and borderline unfair in many cases. But that's the law of the land.

Here's how you can look at it, you can bite the bullet and go ahead and you will have a car you love while saving one mil at the risk of having to spend something close, or worse case scenario, more than the current market rate.

[The Don]

I'm thinking about getting hold of a permit via a known chap and placing an order for a vehicle via the agents (Prest1ge or D1mo).

Is there a risk involved with any potential Duty Hikes before the vehicle is cleared in Sri Lanka?

Ex: The going rate for a 2013 520D U/R is around 10.3 ish now. However, If I place the order via the agents I can get the face-lifted '14 version (hinted by the agents) delivered in around 3~4 months for around 1 mil cheaper.

However, Certain people have been telling me its safer to purchase ex stock vehicles as there is a risk of import duty/procedure changes Even after opening an LC with the agent. Is this a legitimate risk? To be honest I'm not even sure what it means to "buy a permit" from someone - do they change ownership of this "permit" even before we open the LC for the new vehicle???

This is the first time I'm considering using a permit or placing an order directly with an agent as I have always bought Registered vehicles from local dealers up to now. So Any and all input will be MUCH appreciated thanks in advance.

If you have such money to invest in a car, you should know how volatile socio economic policies in Sri Lanka is like. The last time there was an increase of duty, no relief was given to people with open LCs. This was contrary to the policies followed by every government before the current one.

As for foreign exchange fluctuation, well that is just a part of life and if you can predict it you can make 10 times the 10 million you have at hand for a car, and I thoroughly suggest you play the forex market.