Getting Sufficient Funds Into Arg To Buy A Car

[MyArgentina]

Bumping this from the Introduce Yourself page.

[background=rgb(252, 252, 252)]Hi all, I have lived in Argentina for the last 5 years (in and out). Coming to live in BA for the first time in just some weeks. I have my DNI and am curious to know what the most common way is for folks like me (Estado Unidense) to transfer enough funds to buy a modest car from a dealership here. Do dealers accept wire transfers from the US? Are there other alternatives? Am I missing anything (pitfalls, missteps, don't be stupid by doing X, etc.)?[/background]

[background=rgb(252, 252, 252)]Thanks very kindly and I do look forward to participating here and at some of the outside Chats I've seen posted here. BA here I come! [/background]

 

[justderrick]

If you already have your DNI and have lived there for 1 year or more your in great shape my friend. I think the law over there states your allowed to import one vehicle from the states.
I'd look into it more and research before buying a car in Argentina because you can save alot more from buying one in the states and the cost for transport will still be cheaper than what it would cost in Argentina. Look at the mustang for example. It's 95,000 USD for basic coupe. Here in the states it's only 23,000 USD if that. I would flip that car in Argentina. I'm moving in a few months myself but have no DNI and it will be my first time living there. I unfortunately have to buy a car in Buenos Aires, I can't wait a whole year without a vehicle. I need to get around.

 

[mc kenna]

Flipping cars brought into Argentina is not a good idea, between the shipping and the import taxes you will end up paying very close to the 93k you mentioned above, not to mention the headache of registring the vehicle when is imported as a private citizen or permanent resident, besides that, you can not sell the car for the term of a year (maybe longer now) when you do it that way..... i had done this 20 years go when it was way easier and still was a royal pain in the butt and looking at the return on your investment , is just not worth it.......
In my opinion , it would be advisable to talk to different dealers who, some i know for a fact, will even take credit cards(if you have a limit of around 20k) should be enogh to buy a modest local vehicle, good luck to you Pilgrim

 

[Gringoboy]

...added to which the dealers here want your business.
We're changing our car and a few dealer visits have revealed that they'll give you up to 15% discount for cash which, as expected, they say is for a limited time only (haha).
But mind the delivery and registration charges as they can be stingers. I looked at a car for around $300,000 and the delivery/reg was around $40,000. Horrendous.

 

[MyArgentina]

Hey, Derrick, seems simple is better in my circumstance. Though importing a fresh set of wheels sounds enticing (for an eventual cash out), it seems it may get complicated.

That's about what I was thinking, Mac, around 20K. Hadn't thought about using a card, honestly, but I suppose I could request that from the bank on this side before I launch from the States. (Jeez, never put that much on a card before.) Good idea, sir!

And thanks for the tip, Gringo. 40K in fees is around 13% (of your 300). Holy cow.

 

[glasgowjohn]

I think you can only import a used car free of tax . You also have a time limit whcih starts to count as soon as your DNI is issued.

 

[Girino]

If you already have your DNI and have lived there for 1 year or more your in great shape my friend. I think the law over there states your allowed to import one vehicle from the states.
I'd look into it more and research before buying a car in Argentina because you can save alot more from buying one in the states and the cost for transport will still be cheaper than what it would cost in Argentina. Look at the mustang for example. It's 95,000 USD for basic coupe. Here in the states it's only 23,000 USD if that. I would flip that car in Argentina. I'm moving in a few months myself but have no DNI and it will be my first time living there. I unfortunately have to buy a car in Buenos Aires, I can't wait a whole year without a vehicle. I need to get around.

You're a total newbie, aren't you?

 

[bobsnowpuppy]

In the U.S. I have purchased cars on my American Express card. If I'm going to pay cash for it anyway, it's nice to get those points. Then I just transfer the money from my bank to pay off the card. Not all dealers would allow the entire price of the car on the card and perhaps in Argentina they will charge you their 2-3% cc fee in order to put it on a card, but it's at least a possible way to do it here.

 

[gostomper]

bring a good chunk of the money in your pocket on the plane with you. keep it under 10,000 that's the amount or more you must declare. then just pull anything else you need from your US bank account. you might have a daily withdraw limit, in which case do a couple withdraws over several business days. if you don't end up buying the car, you can still just exchange the dollars and use that to buy regular stuff. there is also a 10k limit for taking money out of argentina

 

[steveinbsas]

I think you can only import a used car free of tax . You also have a time limit whcih starts to count as soon as your DNI is issued.

Unlike "household goods" which can be imported "duty free" within six months of obtaining temporary residency, I don't think "you" (aka anyone) can import a used car free of tax, though a temporary resident may be able to import a vehicle and not pay the tax if he/she takes it back home when the residency expires.

I don't think the import tax has to be paid on household goods imported as a temporary resident when the residency becomes permanent, but that may not (and probably doesn't) apply to vehicles. If that loophole exists, I think someone would have posted about it, but I don't recall anyone doing so.

Here's some detailed info about importing a vehicle into Argentina:

• Used vehicles can be imported by returning Argentinean citizens (abroad for at least two years) or immigrants with a residence in Argentina
• Importation of new vehicles is subject to Ministry of Commerce Administrative regulations and are limited to certain makes and models (consult your Destination Agent for specifics prior to forwarding)
• Vehicles for private use are subject to duty
• One vehicle per adult (21 years old or older), two per family
• Vehicles must have been registered in the customer's name and must have been purchased or transferred to the customer a minimum of three months prior to the arrival of the customer in Argentina
• Vehicle must not be sold for at least one year after clearance
• Vehicle must be imported within six months of the customer's arrival
• Documents required:
  • Original Purchase Invoice
  • Title
  • Certificate of Residence
  • Original Passport
  • Original license
  • Certification from an Argentine Consulate, establishing that customer has been living in the country of origin during the last 12 months (this certificate is mandatory).
  • Returning citizens or importers with a permanent visa will pay duties of 78.20% on CIF value. The vehicle cannot be picked up from customs unless the duties have been paid.
  • Argentine citizens returning who might have entered a move a long time ago, or importers with old residence in Argentina, may not import a motor vehicle.
  • An Argentine citizen who has already imported an auto previously may not import a second auto.

http://www.movers.com/international_movers/customs-regulations/argentina.html