Benefits & Cons of Importing a Car Into Costa Rica

Costa Rica Shipping – The craze about cars is growing at an exponential rate, yet nothing shows the possibility of a halt. Just like buying property, buying a car takes a toll on your financial reserves through import tax, maintenance, auto insurance program, fuel, repairs, and registration. Nevertheless, new cars are still hitting the poorly kept roads, with the hype reaching exceeding that of buying a home. The high cost of buying cars in Costa Rica drives the need to ship a car to Costa Rica. It starts with getting the right Costa Rica vehicle shipping before settling for a specific brand. If you did not know how to ship a car to Costa Rica, shipping Costa Rica offers professional yet reliable car and truck shipping.

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Several months ago, the great recession led to reduced car prices from car owners that needed to liquidate their cars for mortgage payments, rental expenditure, and food. To some people, it was time to drive a car at a relatively low price, oblivious of the numerous stories of despair and heartbreak. While the situations have shifted, a look at the US listings gives better deals than the local listings. Buyers than the need to buy used cars in Costa Rica are likely to consider the Craigslist listings, thanks to the affordable prices.

The Import Taxes

While the brands might look affordable, shipping and import duties are likely to eat on your budget, often limiting the buying capacity. If you are on the verge of importing a car into Costa Rica Relocation, be ready to pay an import tax of 52.29% if the car is three years old or more. While it was not the case a while ago, a new car means one below three years old, regardless of the mileage and physical condition.

Currently, the Treasury values the cars based on the make, engine, chassis, and accessories, disregarding the mechanical state of the car. Several attempts to restrict the importation of vehicles that range from 6-7 years have not seen the light of the day. However, incremental taxes require you to pay 63.91% for cars between 4-5 years and 79.03% for those exceeding the age. This is meant to curb the influx of clunkers that pose environmental risks and safety concerns. While importers can use the tax calculator, the Kelley Blue book is much simpler to calculate the costs.

The Emission & Mechanical State

The law sets the standards of emissions required by all imported vehicles. The cars ought to show assessment records that certify the rated emission rates, often done at the ship and car carriers. The standards apply but with exception to the personal and competition cars often used for a short period. All vehicles are subject to immediate inspection with the inspection report forwarded to the transport ministry. The inspection process covers a broad range of physical components such as the brakes, emissions, wipes and lights among others.

When it comes to motor registration and licensing, luxury vehicles that cost $15,000 or more attracts higher charges than the classic models. The cost goes even higher for special cars such as Luxury SUVs, convertibles, and sports cars. It starts with a paper license before one gets the metal plates, often after rigorous bureaucratic maneuvers.

The Future of Vehicle Importation

Importing old cars such as a 1994 Toyota Corolla would not make financial sense owing to the total cost of importation. Why would you pay $4000 0r more for a car that costs slightly above $400 in craigslist

listing? Nevertheless, the market expects a growing trend in vehicle importation, which begs the thought of better terms for local dealers. There is no doubt about Ticos hunger for more cars, and not even increased taxation is likely to quell the urge.

Parking remains scarce while congestion on the roads is a norm. While the tax rates are unlikely to change, the old cars might be phased out to pave the way for the new models that come with lower emission rates and fuel consumption. Whether or not the government will offer tax breaks for fully electric cars remains a mystery, as most proposals to increase the import duties are likely to sail through the parliamentary sessions.

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