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  1. #61
    Legend minimoke's Avatar
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    Quote Originally Posted by Raz View Post
    Head and heart..just need to be blended them together..as an example... most items come down to buy in price if you will be chasing you tail on them financially..I am bring three Porsche top line MVs into NZ and all up they are costing around 225k...if you want a comparable cars in the NZ market place they range 230-330k each. So I will keep one of the three and sell the other two..cost to me of the one I kept is zip except a few hours of my time...so why would I worry about service charges as I have had them totally checking by a franchise mechanic before being shipped out and I'm so far ahead I can do this in three years again. On balance the two sold will incurred very little depreciation for their new owners if they hold onto them for say three years....I will not be greedy on the asking price....
    Presumably the two sold will incur income tax obligations. And I'm not sure how you avoid coming under S8 (1) a of the MV Act (you have represented you are ready to carry on the business of motor vehicle trading). So you'll have some left over liability there as well.

  2. #62
    Gnawing on Bones Beagle's Avatar
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    Looks like after a number of very strongly worded emails and some slightly more polite discussions, in principle, (exactly one month to the day that engine seized), I have a deal with Holden I am satisfied with. Contains a confidentiality clause which I haven't read yet so I better not say any more but if it was a new identical replacement car with their standard 3 year warranty there would be no need for a confidentiality agreement would there Many thanks to all of you who took an interest and posted your opinion and support. Its been a very frustrating process but it is almost at an end. They have an identical brand new car in their South Auckland storage facility in the same colour I chose so all going well I should get that sometime next week. Anyone know where I can buy a pair of genuine goat skin kid gloves for the new car ?
    No butts, hold no mutts, (unless they're the furry variety).

  3. #63
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    Great that you got some satisfaction Beagle. Good luck with the new motor!

  4. #64
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    Quote Originally Posted by minimoke View Post
    Presumably the two sold will incur income tax obligations. And I'm not sure how you avoid coming under S8 (1) a of the MV Act (you have represented you are ready to carry on the business of motor vehicle trading). So you'll have some left over liability there as well.
    I think anyone can do up to 6 vehicles a year as a private individual without being required to be registered as a Motor Vehicle trader under the Act. Raz a former bean counter so I am confident he can work out his tax obligations for himself. I have looked at parallel importing a late model high end BMW and found that by the time you took into account the vast difference in specification between U.K. cars, (generally very basic spec unless they were spec'd to the nth degree by U.K. owners) and N.Z. specified vehicles, factored into account the shipping, GST, insurance, agent handling to get VAT back and so on there wasn't a lot in it and then when you come to resell, its a parallel import its a really tough gig. Then there's the puny international warranty of 2 years which the UK
    cars get from BMW and the 5 years they come with here. 5 years is a nice long warranty...one can usually find some decent peace of mind with that
    No butts, hold no mutts, (unless they're the furry variety).

  5. #65
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    Quote Originally Posted by Sideshow Bob View Post
    Great that you got some satisfaction Beagle. Good luck with the new motor!
    Thanks, I'd pay top money for a set of kid gloves in XXXL...big dog = big paws Man, I am going to have to run the next one in very, very carefully...
    Last edited by Beagle; 11-02-2019 at 11:44 AM.
    No butts, hold no mutts, (unless they're the furry variety).

  6. #66
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    Wealthy people can afford the depreciation. The problem is NZ is a very small market with selling few examples of high end $200K-$300K cars. Personally, I would have no problems paying $300K on a classic collectable sport car as they're in a different league. But for a DB11? What would it be worth in 10 years time? Another aspect is being in NZ, you have again, a very small market to sell such new model cars 2nd hand. If you buy a Ferrari that's 20+ years old, it would have a global market demand.

    My mini moke on almost a daily basis I get comments "Is it for sale?" When I 1st came to NZ my 1st car was a 1964 Morris Mini Cooper, I paid $5K for back in 1998, for years of owning it, i've had countless of inquiries asking "Is it for sale" (even paper notes on the windows "Please call if you want to sell the car". My guess it's worth $20K. Another thing is when you're talking a low price range, it will always be easier to sell, and if the NZ market won't pay for it, you can bet the Japanese will go head over heels in buying it.

    But my biggest joy is driving these old cars. Something that a new high end European car where the glee experience wears off quickly. Works of art are simply.. timeless.

  7. #67
    Guru peat's Avatar
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    Quote Originally Posted by Beagle View Post
    I have a deal with Holden I am satisfied with. Contains a confidentiality clause which I haven't read yet so I better not say any more but if it was a new identical replacement car with their standard 3 year warranty there would be no need for a confidentiality agreement would there
    Muzzled beagle ???

    muzzled beagle.jpg
    For clarity, nothing I say is advice....

  8. #68
    Gnawing on Bones Beagle's Avatar
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    Quote Originally Posted by peat View Post
    Muzzled beagle ???

    muzzled beagle.jpg
    LOL Beagle's hate being muzzled...the least that should happen is the muzzle should be in matching tan colour.
    No butts, hold no mutts, (unless they're the furry variety).

  9. #69
    Legend minimoke's Avatar
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    Quote Originally Posted by Beagle View Post
    I think anyone can do up to 6 vehicles a year as a private individual without being required to be registered as a Motor Vehicle trader under the Act.
    "in any specified period, the person imports more than 3 motor vehicles, unless that person proves that those motor vehicles were not imported to be sold for the primary purpose of gain."

  10. #70
    Gnawing on Bones Beagle's Avatar
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    Quote Originally Posted by minimoke View Post
    "in any specified period, the person imports more than 3 motor vehicles, unless that person proves that those motor vehicles were not imported to be sold for the primary purpose of gain."
    Hmmm... 6 must have been a number I read about for private use then. Suppose wealthy people need a different one for almost each day of the week
    Last edited by Beagle; 11-02-2019 at 01:09 PM.
    No butts, hold no mutts, (unless they're the furry variety).

  11. #71
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    It's clear given my documentation and actual circumstance I do not need to pay income tax, however given I own a part of a dealership in the US, I'm taking a holistic approach, my figures do include income tax.

    What I do find interesting is everyone here can see the hurdles rather than the opportunity.

  12. #72
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    Quote Originally Posted by Beagle View Post
    Hmmm... 6 must have been a number I read about for private use then. Suppose wealthy people need a different one for almost each day of the week
    Six is the maximum number you can sell in one year without holding a dealer's license. However profit, if any, can be taxed. It depends on intent. This reduces to three for imported vehicles - presumably because catching the importer is easier then catching the backyard trader.
    Last edited by fungus pudding; 11-02-2019 at 09:26 PM.

  13. #73
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    Quote Originally Posted by Beagle View Post
    Looks like after a number of very strongly worded emails and some slightly more polite discussions, in principle, (exactly one month to the day that engine seized), I have a deal with Holden I am satisfied with. Contains a confidentiality clause which I haven't read yet so I better not say any more but if it was a new identical replacement car with their standard 3 year warranty there would be no need for a confidentiality agreement would there Many thanks to all of you who took an interest and posted your opinion and support. Its been a very frustrating process but it is almost at an end. They have an identical brand new car in their South Auckland storage facility in the same colour I chose so all going well I should get that sometime next week. Anyone know where I can buy a pair of genuine goat skin kid gloves for the new car ?
    Well a good outcome for you is a good outcome, you worked for it so good for you

  14. #74
    Legend minimoke's Avatar
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    Quote Originally Posted by Raz View Post

    What I do find interesting is everyone here can see the hurdles rather than the opportunity.
    Coming up with money making schemes is the easy part. Getting over teh hurdles not so.

  15. #75
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    Quote Originally Posted by minimoke View Post
    Coming up with money making schemes is the easy part. Getting over teh hurdles not so.
    I don't even see it as money making scheme..I'm bring three MV's in I like, will drive them all and decide on which one to keep. I do have the advantage of acquiring them at a price not available to others. Then sell the other two as surplus to requirements. i have people offering deposits to have first option on them..there is limited and calculated risk here if you created a well planned process.

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