Buying Dollars

[jeff1234]

I have no experience in buying dollars, only selling them.

Now I'm planning to buy a car for 2 years then sell it for pesos and converting those pesos back into dollars.

Whats the likely chances that I'll be able to use the proceeds to buy dollars without too much hassle and whats the likely spread between the rates for selling dollars and then buying dollars?

 

[ElQueso]

Two years ago there was no problem buying dollars. Two years ago there was almost no spread between the blue rate and official rate. Who knows, honestly, what things will look like in two more?

if you are doing this for an investment, I don't know that it would work quite so easily, there's a lot involved in buying and selling cars and converting to/from pesos an of course what the economy will look like in two years, etc. If you need the car, it's certainly something to be worried about, but I'd just do what I needed to do and hope you could get a good return later.

As things look right this moment, you will pay dearly going to arbolitos to buy dollars. Your best bet right now as far as that goes would be to find someone who needs pesos for monthly expenses. There are many of us who live here and have income from outside the country, you should be able to find someone who needs to convert in the other direction. But again, no way in hell anyone can give a reasonable estimate how things will look in two years here,

 

[French jurist]

Indeed, impossible to guess the situation in 2 years.
Nevertheless, you could always sell your car to an expat, getting paid in USD (PayPal for example). That's how I bought my last car (bought from a forum member here).

 

[Big Al]

if you want to buy dollars at the blue rate you will have no problems at all, i buy dollars when needed with no problems

 

[jeff1234]

if you want to buy dollars at the blue rate you will have no problems at all, i buy dollars when needed with no problems

What is the usual spread between what cuevas will pay for $ and what they will sell them for on any given day?

 

[jeff1234]

Can I get car/driver insurance without a dni?

 

[French jurist]

Can I get car/driver insurance without a dni?

Yop. But make sure your tourist visa doesn't get expired otherwise you might get into trouble if you have an accident (with the insurance company)

 

[French jurist]

What is the usual spread between what cuevas will pay for $ and what they will sell them for on any given day?

Around 4 or 5% I guess, on a normal day (no volatility, etc.). Expect a bigger spread on weekends.

 

[Rich One]

Can I get car/driver insurance without a dni?

Liberty Insurance does as well as Zurich Insurance. La Caja didn't.

 

[ElQueso]

I've never actually tried to buy dollars from arbolitos, but I know some relatives of my wife that have come to me because I don't give a spread when buying pesos (not interested in trying to make money at friend's/family expense), because they couldn't find better than 11.5-1. They live out in the provinces, where they often get screwed on exchanges re-converting their dollars to pesos when needed, so I don't know.

I have some acquaintances who run a business and buy large sums of dollars each month, and they get around 11-1. That was at the beginning of October, last I heard, I don't know what they'll get in the coming month or what they got this month. Of course, they are at a disadvantage because they are trying to change a lot of pesos, but they also have better contacts than the relatives in the provinces.

Things may be better on Florida because they need pesos to convert all the dollars and reals and euros they're buying, but I'd still be surprised if they sold for less than 10.5-1 on Florida. I'd really even be a bit surprised if they sold less than 11-1.

But, take my opinions on this with a grain of salt since I don't buy dollars on the blue market.