You'll have to find out. Some cars value actually appreciate. You figure a brand new corolla will set you back about $20K plus another $15 - $20k in taxes.
if you're lucky, you'll break even. If you're really lucky you'll make a little money out of it.
for example my 1987 Landcruiser was imported from germany. Bought it for $8k but taxes were going to cost me $18k. Well i didn't have $18k so it was parked for two years and finally i found out that the tax is lower as the car ages and in 2008 i found out i only had to pay $8k. So i paid it and got the plates. So my total investment is $16k.
When you sell a car, it appreciates because you have to take into account the tax you paid for it. I called my cousin and asked him to make some calls to see what kind of offers people made him. Four people offered him 500k Birr and a couple more just below that. With the current exchange rate that comes to almost $32k
So in my case, i would be doubling my money. I can do this because for two reasons.
1. It's a Landcruiser
2. It's a bad ass looking fire red with black trim Landcruiser
There was a lot of talk about getting up to 50% off tax for importing a new economical car, but i haven't been able to confirm with any of my friends.
Take the value of your car in the states and add $3k to it's value. Then double that value and that what you will expect to pay in taxes. Then consider your transport options. Flight cargo being the most expensive will take about a month and will cost around $7k. Your next option is putting it in a container and shipping it, which will take about two months and then you'll have to figure out a way to transport/drive it from Djibouti. You'll also have to drain all of your car's liquid in order to transport it and they will check. So when you pick up you will have to bring gas, oil, tranny fluid, brake fluid, power steering fluid. This option will be about $4k.
Finally if you have friends/family (that you can trust) find a buyer and see how much it's going for and go from there.
personally, i don't think it's worth the hassle and work unless it was your own car and something you wanted to keep, something i plan on doing with my Nissan.
if you're lucky, you'll break even. If you're really lucky you'll make a little money out of it.
for example my 1987 Landcruiser was imported from germany. Bought it for $8k but taxes were going to cost me $18k. Well i didn't have $18k so it was parked for two years and finally i found out that the tax is lower as the car ages and in 2008 i found out i only had to pay $8k. So i paid it and got the plates. So my total investment is $16k.
When you sell a car, it appreciates because you have to take into account the tax you paid for it. I called my cousin and asked him to make some calls to see what kind of offers people made him. Four people offered him 500k Birr and a couple more just below that. With the current exchange rate that comes to almost $32k
So in my case, i would be doubling my money. I can do this because for two reasons.
1. It's a Landcruiser
2. It's a bad ass looking fire red with black trim Landcruiser
There was a lot of talk about getting up to 50% off tax for importing a new economical car, but i haven't been able to confirm with any of my friends.
Take the value of your car in the states and add $3k to it's value. Then double that value and that what you will expect to pay in taxes. Then consider your transport options. Flight cargo being the most expensive will take about a month and will cost around $7k. Your next option is putting it in a container and shipping it, which will take about two months and then you'll have to figure out a way to transport/drive it from Djibouti. You'll also have to drain all of your car's liquid in order to transport it and they will check. So when you pick up you will have to bring gas, oil, tranny fluid, brake fluid, power steering fluid. This option will be about $4k.
Finally if you have friends/family (that you can trust) find a buyer and see how much it's going for and go from there.
personally, i don't think it's worth the hassle and work unless it was your own car and something you wanted to keep, something i plan on doing with my Nissan.
