Japanese economists have no answers about the decline in the value of the US dollar and the euro against the Japanese yen. Lately this week, the USD $ is swinging back and forth around 85 yen per dollar and 110 yen per euro. Remembering not so much, but in 2007 the euro had risen so much that it went to 180 yen per euro. At that time the economists were also shaking their heads. Now, the truth is that if this costly yen situation is reduced, some jobs could be relocated from Japan to other countries. Japan’s business has not grown steadily either outside or within Japan. Put aside auto-manufacturing giant Toyota, which suffers losses of about $ 352 million a year on a single yen cheaper than a dollar.
Gradually, this situation will be negatively affected towards a weak economy in Japan. If the government does not look seriously and act quickly, perhaps, based on recent speculation, the weakness of the dollar could decline to as much as 79 yen per dollar.
There is still a bargain from Japan on importing cheap high-quality second-hand cars. Here is a checklist to do before contacting a distributor and exporter.
Decide on the Japanese used car requirement that you want.
Contact the exporter and offer to buy the car in Japan. If it is a fairly newer model less than 5 years old, then you may need to ask the exporter to look at local Japan used car auctions.
The exporter will issue a proforma invoice, usually by fax or email.
After signing, return the proforma invoice – you have agreed to buy the car! Send the car payment to the Exporter by Telegraphic Transfer through your bank. If you have paid any deposit, request a deduction and pay the balance. The exporter will reserve the vehicle on a ship from Japan and authorize the shipment of the car, known as FOB.
After the ship has left Japan, the exporter will send all the original documents necessary for importation by express courier. Arrange a shipping agent who will handle the arrival of the car and allow customs clearance. Pay the shipping fee (if you haven’t paid in Japan) which is calculated on the cubic footage of the vehicle. Pay import duties and VAT. Pay customs duties. Pay the shipping agent for their services.
The car leaves Customs and is available for collection. Register the car and pay the registration fee. For UK: Prepare the car for SVA test or MOT test. (ie, change the speedometer to miles per hour, mount the rear fog lights, etc.). SVA and / or MOT test of the car. Tax and Insure the car for use on the road. Drive and enjoy your imported car!