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Thread: Will demand for UK cars in the EU drop off a cliff?

  1. #1
    SEC Member LPH_UK's Avatar
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    Will demand for UK cars in the EU drop off a cliff?

    Or will asking prices drop off a cliff?

    'SINCE JANUARY 1ST, VAT AND CUSTOMS DUTIES

    Brexit is a reality. You now have to pay 20% VAT and 10% customs duties on any vehicle purchase in England.

    Efforts are being made to try to change this rule'

    If this is true a £70k car becomes a £92400 car by the time you've paid the duty and VAT........

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    Re: Will demand for UK cars in the EU drop off a cliff?

    I cant see how vat would be payable on a second hand car purchase? Exports from the uk to any other country have always been zero rated in the uk. Sure somebody importing may have to pay vat in their own country, at their own countries rates but if any of us selling our cars as individuals cannot charge vat unless we are doing it as a business, and then if we know it is going for export we would zero rate it.
    Surely that hasn't changed any just through Brexit?
    I could well be wrong, but I cant see Brexit will have any real effect on demand for uk Stratos replicas.
    Where else are overseas customers going to buy one anyway?

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    Site Supporter NoCorseChris's Avatar
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    Re: Will demand for UK cars in the EU drop off a cliff?

    Someone from Bulgaria was looking at my Jeep and he reckoned that having consulted his customs people, charges & tax would double the price. I’m only asking £3500 so have no idea if that would apply to higher values.

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    SEC Member renmure's Avatar
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    Re: Will demand for UK cars in the EU drop off a cliff?

    I think for our type of cars it will be supply and demand that sets the ball park values and the individual quality that sets the specific prices, irrespective of brexit or customs or any other duties.

    "We" are pretty much the supply side so can see that there's no more than a trickle of cars that could possibly be for sale at any given time. It's clear that the demand is there and won't be going away any time soon. Also, if you are daft enough to be looking to buy a £70k kit car then you don't have to be much dafter to buy one at £92,400 if that's what they cost. Particularly if you can take a view that, on balance, you'll get most/all/more than that back when you come to sell it. IMHO

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    Re: Will demand for UK cars in the EU drop off a cliff?

    Well I dunno about demand for cars dropping off, but if it gets any colder I know what will....

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    SEC Member Stratie.fr's Avatar
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    Re: Will demand for UK cars in the EU drop off a cliff?

    Quote Originally Posted by LPH_UK View Post
    Or will asking prices drop off a cliff?

    'SINCE JANUARY 1ST, VAT AND CUSTOMS DUTIES

    Brexit is a reality. You now have to pay 20% VAT and 10% customs duties on any vehicle purchase in England.

    Efforts are being made to try to change this rule'

    If this is true a £70k car becomes a £92400 car by the time you've paid the duty and VAT........
    For sure thatís a worrying issue! It isnít a good news for UK sellers and sportcars companies!
    Itís such a shame these duty-custom taxes would surely discourage almost EU buyers in priced cars and new kits!!
    Last edited by Stratie.fr; 08-03-2021 at 14:28.

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