Importing classic and used cars to Sri Lanka

[iRage]

16 minutes ago, Gummybr said:

They had a maximum age of 10 years old, but now that is no longer applicable.

The 10 year age limit was for the foreign exchange earner's permit (i.e. permits issued to Sri Lankans working abroad to bring down the car they used abroad whilst working). If the individual had owned the car for 1-2 years then the maximum age was 5 years..if the person owned it for more than 2 years then it could be up to 10.

Other permits of bringing down an old car can go one of two ways...

1. The car needs to be a classic car or a car of significance/special  (as endorsed by the Classic Car Club..so trying to bring down Doctor Sunnies and old G Supiriyas for cheap); thus can be smething you purchase now or something that you had owned before.

2.  A car that is a personal asset of an individual moving to Sri Lanka (in which case there is no specific age).

[Boseth Minidu]

On 4/9/2021 at 12:56 PM, iRage said:

There used to be a permit for Sri Lankans who were working/living abroad and earning foreing exchange. For that you HAD to have owned the car during your time abroad.

Other than that...no..you don't have to have owned the car abroad. 

Thanks for the info,can you also acknowledge on how Luxury tax works?

[iRage]

On 4/17/2021 at 6:18 PM, Boseth Minidu said:

Thanks for the info,can you also acknowledge on how Luxury tax works?

If the CIF value is more than 3.x million..you pay 100%. So considering what the exchange rate has been over the last few years...even cars like Basic Axios and Vitzies with anything more than a stereo and two airbags got luxury taxed. I am not sure if ther eis a higher tax rate with anyother brackets.

[Boseth Minidu]

21 hours ago, iRage said:

If the CIF value is more than 3.x million..you pay 100%. So considering what the exchange rate has been over the last few years...even cars like Basic Axios and Vitzies with anything more than a stereo and two airbags got luxury taxed. I am not sure if ther eis a higher tax rate with anyother brackets.

So if the CIF value of the Honda NSX is 9.5 million.That means 100% luxury tax added.Meaning another 9.5 Million is added if I’m right?

[iRage]

1 minute ago, Boseth Minidu said:

So if the CIF value of the Honda NSX is 9.5 million.That means 100% luxury tax added.Meaning another 9.5 Million is added if I’m right?

Yes  I beleive that is now the case. There was a point in time where they talked about first reducing 3.x mil off the CIF price and tax only the excess amount. No idea if that still is (or ever was) the case or not. But yes...the luxury tax on top of the CC based customs/excess duties that are levied. But..uhh..considering the current exchange rates and the global market prices of NSXes...seriously doubt you can get a NSX for 9.5mil LKR.

[Boseth Minidu]

On 4/19/2021 at 5:27 PM, iRage said:

Yes  I beleive that is now the case. There was a point in time where they talked about first reducing 3.x mil off the CIF price and tax only the excess amount. No idea if that still is (or ever was) the case or not. But yes...the luxury tax on top of the CC based customs/excess duties that are levied. But..uhh..considering the current exchange rates and the global market prices of NSXes...seriously doubt you can get a NSX for 9.5mil LKR.

Unfortunately you can’t find a manual transmission NSX for 9.5 million in Japan.But you can find a Automatic Transmission for 9.5 million or less.Considering that my Budget is below 50 Million the only option I’m left is the Automatic 

[iRage]

2 hours ago, Boseth Minidu said:

Unfortunately you can’t find a manual transmission NSX for 9.5 million in Japan.But you can find a Automatic Transmission for 9.5 million or less.Considering that my Budget is below 50 Million the only option I’m left is the Automatic 

Note:  you get taxed on CIF value...not FOB (FOB = Free on board = price of the car without shipping and insurance)...So if you have only 9.5mil for CIF (equivelant of about 5.4mil yen)...then what you have for the car is about 5mil yen) 

Well..you can barely find even an automatic NSX for 9.5mil (assuming this is FOB). The ones that are for sale right now for about 5.4 mil yen either have high mileages, mileages that cannot be verified (which means either the meter was changed, engine swapped, or some sort of tampering that the mileage could not be recorded during its last inspection) or has a repair history (i.e. its frame has been repaired...).

[Boseth Minidu]

1 hour ago, iRage said:

Note:  you get taxed on CIF value...not FOB (FOB = Free on board = price of the car without shipping and insurance)...So if you have only 9.5mil for CIF (equivelant of about 5.4mil yen)...then what you have for the car is about 5mil yen) 

Well..you can barely find even an automatic NSX for 9.5mil (assuming this is FOB). The ones that are for sale right now for about 5.4 mil yen either have high mileages, mileages that cannot be verified (which means either the meter was changed, engine swapped, or some sort of tampering that the mileage could not be recorded during its last inspection) or has a repair history (i.e. its frame has been repaired...).

The price used to be 9.5 million rupees but after LKR value went slightly up recently it’s 8.9-9.3 million.So the total CIF will be like 9.5-9.9 million.Also is it an issue that the vehicle has high mileage because the ones I saw for 8.9-9.3 have like 100,000-140,000kms in the odometer ?

Edited April 21, 2021 by Boseth Minidu

[iRage]

2 hours ago, Boseth Minidu said:

Also is it an issue that the vehicle has high mileage because the ones I saw for 8.9-9.3 have like 100,000-140,000kms in the odometer ?

The mileage is the least of your concerns...every single NSX I have seen over here (and those currently on sale in the market) that are less than 6mil yen have unverifiable records and/or a repair history. 

Unverifiable records = can range anything from mileage unknown..engine swaps..meter swaps...meter stopped working...car was lost/stolen..

Repair History = the sekeleton of the car was damaged and needed repair (this is NOT the same as R grade auction cars. If a car requires fixing to its frame or components that make up the frame, the legal registration carries a "Repair History" record. 

[Boseth Minidu]

Is it actually doable to import a first generation NSX to Sri Lanka when the import ban is lifted because I doubt that the first generation Honda NSX isn’t old enough 

[iRage]

16 hours ago, Boseth Minidu said:

Is it actually doable to import a first generation NSX to Sri Lanka when the import ban is lifted because I doubt that the first generation Honda NSX isn’t old enough 

You have been asking this question over and over again in multiple threads and in your own thread. The answer is still the same....if you are able to afford the taxes and other high costs and the hard process then yes..bringing down anything is possible. Either work with the CCCSL and then get approval for imprting as a classic car..or go directly to the govt (MoF) and then work on getting permission to import whatever special car you want.

The fact that you keep asking over and over again sort of hints that you do not have the determination to go through the actual process and then get your rear @#*i## by the govt. vultures. 

[Boseth Minidu]

9 hours ago, iRage said:

You have been asking this question over and over again in multiple threads and in your own thread. The answer is still the same....if you are able to afford the taxes and other high costs and the hard process then yes..bringing down anything is possible. Either work with the CCCSL and then get approval for imprting as a classic car..or go directly to the govt (MoF) and then work on getting permission to import whatever special car you want.

The fact that you keep asking over and over again sort of hints that you do not have the determination to go through the actual process and then get your rear @#*i## by the govt. vultures. 

I see.I’m sorry if I was starting to get annoying.That’s all I needed to know.I really appreciate you helping people like us out😁

[iRage]

2 hours ago, Boseth Minidu said:

I see.I’m sorry if I was starting to get annoying.That’s all I needed to know.I really appreciate you helping people like us out😁

 Not annoyed....you just need to realise that anything is possible..you need to do the leg work. Have yu spoken to customs ? Have you spoken to MoFinance ? Have you spoken to CCCSL ?

[Boseth Minidu]

1 hour ago, iRage said:

 Not annoyed....you just need to realise that anything is possible..you need to do the leg work. Have yu spoken to customs ? Have you spoken to MoFinance ? Have you spoken to CCCSL ?

Yes I have spoken to the customs.But I’m waiting to speak to the CCCSL till vehicle Importation is allowed again,or at least till the travel restrictions are lifted.

[Boseth Minidu]

So I said on a previous thread that I can only afford an automatic Transmission NSX and I really want it to be a Manual Transmission,so I decided to convert an Automatic to a Manual.Is it possible to do the conversion in Japan an import it and another question is will this affect the Taxes that I’m charged if I do the conversion in Japan rather than doing it after importing the car to Sri Lanka?
 

-Thanks

[iRage]

5 hours ago, Boseth Minidu said:

So I said on a previous thread that I can only afford an automatic Transmission NSX and I really want it to be a Manual Transmission,so I decided to convert an Automatic to a Manual.Is it possible to do the conversion in Japan an import it and another question is will this affect the Taxes that I’m charged if I do the conversion in Japan rather than doing it after importing the car to Sri Lanka?
 

-Thanks

Labor charges in Japan are VERY VERY expensive. To give you an idea...I am paying 60,000yen in labor to replace a clutch, pressure plate and bearing that costs 18,000yen.Secondly, finding a manual transmission for a NSX is quite difficult in Japan and will cost a fortune as a result (at least a good one). So when all the costs are taken in to account...you might as well buy an original MT for the extra money Lets not forget the fact that you will need quite a few other parts (flywheel to pedals, to clutch lines and resevoirs to maybe even the ECU). Side note : Because of the price of the NSX when new, it was bought mainly buy older gentlemen as a long distance cruiser...so they sold plenty of automatics but not many manuals (which is why manual units are pricier).

If you are hell-bent on doing the conversion, you might as well buy a transmission from where ever, get it imported to SL and do the conversion in SL. It might be a little bit cheaper (if at all) than doing it in Japan, but you will have more chances of finding a manual gearbox.

[Boseth Minidu]

On 7/13/2021 at 7:08 PM, iRage said:

Labor charges in Japan are VERY VERY expensive. To give you an idea...I am paying 60,000yen in labor to replace a clutch, pressure plate and bearing that costs 18,000yen.Secondly, finding a manual transmission for a NSX is quite difficult in Japan and will cost a fortune as a result (at least a good one). So when all the costs are taken in to account...you might as well buy an original MT for the extra money Lets not forget the fact that you will need quite a few other parts (flywheel to pedals, to clutch lines and resevoirs to maybe even the ECU). Side note : Because of the price of the NSX when new, it was bought mainly buy older gentlemen as a long distance cruiser...so they sold plenty of automatics but not many manuals (which is why manual units are pricier).

If you are hell-bent on doing the conversion, you might as well buy a transmission from where ever, get it imported to SL and do the conversion in SL. It might be a little bit cheaper (if at all) than doing it in Japan, but you will have more chances of finding a manual gearbox.

According to my research a conversion will cost between 2-3 million if I am right? Seeing that the transmission itself costs about 900,000-1.1 million 

Edited July 15, 2021 by Boseth Minidu

[iRage]

On 7/14/2021 at 5:16 PM, Boseth Minidu said:

According to my research a conversion will cost between 2-3 million if I am right? Seeing that the transmission itself costs about 900,000-1.1 million 

2-3mil = ~ 1mil - 1.5mil yen...which is pretty much the price difference between a good AT and an average MT in Japan. If you want a good job done then you will have to take it to a reputed garage and then you are looking more towards the 3mil LKR range. Lets not forget that you need a lot of additional parts like the gear bezel, pedals, etc...not sure how easy it is to find those.

[Boseth Minidu]

20 hours ago, iRage said:

2-3mil = ~ 1mil - 1.5mil yen...which is pretty much the price difference between a good AT and an average MT in Japan. If you want a good job done then you will have to take it to a reputed garage and then you are looking more towards the 3mil LKR range. Lets not forget that you need a lot of additional parts like the gear bezel, pedals, etc...not sure how easy it is to find those.

The Pedals and Gear bezel aren’t that hard to find because they are still available for the NSX-R brand new which will be suitable for a base grade NSX as well

[iRage]

17 hours ago, Boseth Minidu said:

The Pedals and Gear bezel aren’t that hard to find because they are still available for the NSX-R brand new which will be suitable for a base grade NSX as well

....most of those brand new parts are mostly reproduction parts from 3rd parties. They are not very sort after (especially in Japan). There are licensed products from Japanese and foreign companies but those are somewhat more expensive. The actual parts from an old car, the real thing costs, quite a lot. Also, its suprising to know that things like interior bezels are pedals are not hard to find. Most of the new parts (just like for old Skylines and RXs) are for consumables and easily breaking body and mechanical components.

To be honest, I do not think you should do the conversion. NSXes are rare cars....and still pretty fun even as an automatic. Converting it in to a MT will just ruin its authenticity and future value as well (if you are in to it). Also, you will have no idea how good the conversion will end up being as a lot of it will depend on who does it and the condition of the parts (even a gear box, a brand new one is ridiculously pricey....an old one will either be broken or from a crashed car and would be best to do a refurb/rebuild). Then when you consider the cost of conversion you could have just bought an average condition manual transmission car (so no questions marks about if a conversionw as done right or not) and done a decent rehab on it (replace consumables, etc..), something you would have had to do with a good condition automatic anyway.

Edited July 17, 2021 by iRage

[Boseth Minidu]

49 minutes ago, iRage said:

....most of those brand new parts are mostly reproduction parts from 3rd parties. They are not very sort after (especially in Japan). There are licensed products from Japanese and foreign companies but those are somewhat more expensive. The actual parts from an old car, the real thing costs, quite a lot. Also, its suprising to know that things like interior bezels are pedals are not hard to find. Most of the new parts (just like for old Skylines and RXs) are for consumables and easily breaking body and mechanical components.

To be honest, I do not think you should do the conversion. NSXes are rare cars....and still pretty fun even as an automatic. Converting it in to a MT will just ruin its authenticity and future value as well (if you are in to it). Also, you will have no idea how good the conversion will end up being as a lot of it will depend on who does it and the condition of the parts (even a gear box, a brand new one is ridiculously pricey....an old one will either be broken or from a crashed car and would be best to do a refurb/rebuild). Then when you consider the cost of conversion you could have just bought an average condition manual transmission car (so no questions marks about if a conversionw as done right or not) and done a decent rehab on it (replace consumables, etc..), something you would have had to do with a good condition automatic anyway.

Thinking about that,you are actually right.Automatic or not the car still will be fun in it’s own unique way.So,I might as well buy a good condition Automatic and enjoy the car.I’m not planning on selling it but I want to make sure it will have a long life span.

[iRage]

12 hours ago, Boseth Minidu said:

Thinking about that,you are actually right.Automatic or not the car still will be fun in it’s own unique way.So,I might as well buy a good condition Automatic and enjoy the car.I’m not planning on selling it but I want to make sure it will have a long life span.

If you do go for a Automatic..use it...see how it is...then think of a conversion once you get bored with it

[Boseth Minidu]

I would like to know that when bringing down an NSX will it be charged 9000 per CC as it has a 2977 engine? I researched about it but needed to confirm it.

-Thanks

[iRage]

16 hours ago, Boseth Minidu said:

I would like to know that when bringing down an NSX will it be charged 9000 per CC as it has a 2977 engine? I researched about it but needed to confirm it.

-Thanks

Not sure about the rate...but yes...you will be charged that rate per CC unit. Plus, you will have to pay 100% of your CIF value as luxury tax. Now this is what the system used to be. Now that vehicle imports are stopped nothing is valid anymore. When t starts, we have no idea what new measures will be introduced.

[Boseth Minidu]

I’ve heard that the government are allowing to import cars again by paying the cars CIF value,taxes and everything  in USD.I wanted to know what’s the current status.If it’s approved or not? 

Edited November 19, 2021 by Boseth Minidu