Mustang Prices

Mustang Australia

Author Topic: Mustang Prices  (Read 3695 times)

Offline Red 66

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« on: May 23, 2010, 08:41:29 am »

 Just thought i would throw this out there for discussion:

  Does the drop in the Aussie dollar by 10% mean the value of local Mustangs increase (going to cost more to import now) or does the dollar have little effect on the local market?

  Barry

Offline ponyride

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« Reply #1 on: May 23, 2010, 02:29:43 pm »
It should mean values here increase. The cost of buying and importing a car from the U.S. has just gone up a lot, so anyone who sits down to do the sums will realise that this is transferred to cars here. If the demand is there, the seller's not going to want to take the hit.
Rick

Offline shane427

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« Reply #2 on: May 24, 2010, 12:10:39 pm »
I was very lucky to have paid for mine 2 months back at $0.92/US. I Did see a comment once that GST is calculated on the conversion rate at the time of landing (and/or paying)...

Does this sound right as it may cost me a few dollars more?

Offline shane427

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« Reply #3 on: May 24, 2010, 12:19:32 pm »
and yes....i expect my car is worth 10% more now :+

Truthfully though, when looking for a car locally and o/s early this year, one of the key things for me buying o/s was the price (due to high AU dollar). This offset the risk.

More people will now be recalculating their numbers based on dropping AU dollar, and demand for local cars may increase.

From economics 101. Demand up and supply constant=higher price.

Classic cars are of course a very small market, so the change will be much slower then a more liquid environment.

Offline ponyride

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« Reply #4 on: May 24, 2010, 12:56:49 pm »
Quote from: shane427 link=topic=10654.msg109978#msg109978
I was very lucky to have paid for mine 2 months back at $0.92/US. I Did see a comment once that GST is calculated on the conversion rate at the time of landing (and/or paying)...

Does this sound right as it may cost me a few dollars more?


Shane I'll have to check my receipts but it is my understanding that GST is applied against what you have paid for the car in $AUD, not the value of the car when it lands. So if you have paid, say $40,000 AUD for the car and all expenses in getting it here (shipping, insurance etc) you would pay $4,000 GST no matter what the exchange rate because it is based on the Aussie dollars already paid, not USD so there is no exchange rate to factor in. Like you I consider myself very lucky I paid for the last of my importing bills about three weeks ago!
Rick

Offline jtourvas

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« Reply #5 on: May 24, 2010, 03:18:16 pm »
Trouble is demand is high but no one wants to pay for what they are worth. I believe the USD change does not impact local market. In theory it should but people out there want a bargain and are not willing to pay another $5K for the car of there dreams....:_

Regards,
John.  

Offline POPS 67

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« Reply #6 on: May 24, 2010, 04:18:14 pm »
Shane, the GST is payable in A$ based on the Customs calulations made by your Customs Broker using your documentation. Customs Value is calculated using the rate for the overseas currency converted to A$ at the date of export. (unless you paid for the car in A$) The date of export is the date the car was containerised or the bill of lading date if you dont know the containerised date. The Customs publish an official exchange rate daily using an average for the day and this is what your broker uses when he prepares your declaration, regards Lea.
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Offline mark678

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« Reply #7 on: May 24, 2010, 06:34:57 pm »
You are spot on lea, plus for those that do not know the gst is not at the 10%  it works out at around 11.5%..... something they call value adding ...eg a $16500 car cost me $1730 in gst ......also just in case you want to try and save some bucks and write down a lesser value of your purchase i would strongly advise against that, i know personally of a guy who lost his merc from europe when seller left a receipt in car and customs found it.... they will also hire a valuer if they think something is not right... and it will not be a happy ending...for the few extra bucks its just not worth the heartache......cheers mark

Offline POPS 67

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« Reply #8 on: May 24, 2010, 07:18:04 pm »
Mark, the GST is 10%, it's calculated as A$ customs value (money price paid) plus duty (NIL on 30 year plus old vehicles) plus ocean freight and plus overseas insurance at 10%. I agree it's just not worth trying to save some GST (or duty on cars younger than 30 years) by trying to pull a fast one, the ACS could collar you and apart from the fine your file is marked forever. Better to be completely honest and sleep soundly. Regards Lea.  
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Offline shane427

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« Reply #9 on: May 26, 2010, 12:01:15 pm »
Thanks for the info guys.

 

Offline dalex

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« Reply #10 on: May 26, 2010, 12:20:34 pm »
they are only worth what someone is willing to pay....

Quote from: jtourvas link=topic=10654.msg109999#msg109999
Trouble is demand is high but no one wants to pay for what they are worth.  

Offline 68pony

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« Reply #11 on: May 26, 2010, 06:33:54 pm »
Quote from: dalex link=topic=10654.msg110517#msg110517
they are only worth what someone is willing to pay....


:i

Offline zav007

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« Reply #12 on: May 26, 2010, 07:56:08 pm »
the window of opportunity to purchase cheap mustangs wont last for to much longer.once the market recovers in america, mustangs will no doubt increase in value.

check this one out from a local seller http://cgi.ebay.com.au/ws/eBayISAPI.dll?ViewItem&item=160436983998&viewitem=&sspagename=STRK%3AMEWAX%3AIT

pretty cheap

Offline Dyn4mic

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« Reply #13 on: May 26, 2010, 08:11:47 pm »
:[ im trying to get my hands on one now after having many years to think about it and never the cash i think its time i jumped in to the mustang market but i hope the dollar can recover somewhat i knew i should have bought one wen the dollar was around mid 90's
Name: Pete
67' Coupe

Offline Pedro

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« Reply #14 on: May 27, 2010, 01:43:10 pm »
Quote from: zav007 link=topic=10654.msg110634#msg110634
the window of opportunity to purchase cheap mustangs wont last for to much longer.once the market recovers in america, mustangs will no doubt increase in value.



I think you will find that most financial experts don't predict a real upturn in the US economy any time soon. Sure you get occassional blips but in the long term the US still has a long way to go. So I wouldn't be worried about any fast rise in classic car prices over there.