In this article, I will be teaching you how you can buy and Import Car from abroad at a cheaper price.
What a lot of people don’t know is that they can actually buy a car and import it from abroad by themselves without the help of anyone.
You really don’t have to get relatives or know anybody in abroad before you can do this by yourself.
The Interesting thing about this is that You can do it by yourself if you have the right information, and that is what am about to share with you in this article.
Therefore, I will advise you to do away with any form of distraction and put your 100% concentration on this article in order to make the most out of it.
To Import Cars from Abroad……
There are two major sites through which you can participate in an auction or buy directly through the “Buy Now” button, in order to import vehicles from Abroad.
But for the purpose of this article, I will be talking more on copart.com because it seems is the most popular and also that is the site I registered and I currently used to import cars.
Firstly, You need to enter the site and register as a member before you can be allowed to participate in Auction and buy.
To Register on Copart.com
It is not as difficult to register from Nigeria as people think.
You can actually register by yourself from the comfort of your home and start buying and importing the Car of your choice.
The major basics Requirements for Registration are……
- Government-issued photo ID (e.g. a driver’s license or National I.D or Intl passport)
- Business Registration Certificate
- Domiciliary Account
The Business Registration Certificate is a necessary but not mandatory document, but I will advise you have a business registration Certificate
I opened my own domiciliary account with GTBank with just 20usd, So You should be able to get that done easily.
You can also get a business registration certificate within 14 days if you start the Process now.
You can go to services.cac.gov.ng and start the process and get it done yourself.
You might only need to spend a total of about 13000 Naira if you do it yourself, plus or minus logistics depending on your location to the CAC office and if you find it hard to do, You can reach out to me.
I can help you get the business registered at 20,000 Naira only
Business Certificate is not mandatory but it is necessary because it helps reduce some certain fees you need to pay after you might have won a bid.
There are two major ways to register on Copart, it is either as an individual or as a business.
I will advise you to register as a business, that is where the need for business Certificate comes in.
If You register as Individual, You will not need to upload business certificate.
But when You register as a Business, You Will Need to upload a business Certificate but the advantage is that you will always pay lesser fees compared to someone that registered as an Individual.
When You get to where I talked about Fees, You Will understand this better.
After you have done with Registration, You will be able to participate in Bidding.
Bidding: You can either bid by yourself or use the service of registered professional brokers.
You can get brokers on the site and I can also recommend one for you.
But the essence of this article is for you to be able to bid by yourself without the help of any brokers.
The brokers will take some percentages if you request their services, therefore, increase the total cost of the car.
If you follow this article and register properly and do it right, You can easily bid by yourself.
You are allowed to bid between Monday to Friday, then Saturday and Sunday are for weekend recess, just like every other business.
Before you bid, Make sure that your money is ready, probably ready in your domiciliary account and do not bid beyond your budget because if you eventually win the bid, You must pay for the vehicle within 3 days to avoid paying fines for late payment. The fine is usually around 50usd per day
There are other fees attached after winning the bid….
Fees: There are various fees applied to Copart if you eventually win a bid.
The major fees are broken into 4 categories
- Fee A applies to the following:
- Business Members using secure payment
- Fee B applies to the following:
- Business Members using a non-secure payment
- Fee C applies to the following:
- Consumer Members using secure payment
- Fee D applies to the following:
- Consumer Members using a non-secure payment
Fee A is the cheapest then follow by B to D. So Fee D is the most expensive.
To take advantage of Fee A which is the cheapest Fees, You must register as a Business, that is why I said earlier that it is better to register as a business with your business Certificate than registering as an individual without the requirement of business certificate.
Other fees are….
- Gate fee is $59 for Administrative costs and the movement of the item from the storage location to the buyer loading area
- Storage fee is $20 per day if you don’t pick up the vehicle on time and it varies by location
- Late payment fee after 3 days per vehicle is $50
You can click here to know more about the fees
Also, put in mind that you will pay local transportation cost from point of purchase to the port. It might vary from 100usd to 200usd depending on the condition of the car and the car distance to the port
Shipping: When conveying vehicles from abroad into Nigeria or anywhere, the Two most frequently used methods are…….
- RoRo (Roll-on/Roll-off) Shipping and
- Container Shipping
RoRo: Roll-on/Roll-off shipping is a method of using ships constructed to carry wheeled cargo, like cars, trailers, and trucks, which are driven on and off the ship on their own or by using a big vehicle, such as a self-propelled modular trailer.
Container Shipping: This method is broadly divided into Share and Exclusive Container.
As the Names imply, In…..
Exclusive Container, You have access to the whole container, it could be 20FT or 40FT and is more expensive compare to the shared Container.
In Shared Container, You have access to part of the container and is less expensive compare to Exclusive Container.
There are various differences between these two methods of Shipping. The major differences that determine the choice between RoRo and Cargo Shipping are the Cost, efficiency and the Condition of the car
To use RoRo, The car has to be in running condition, the car should be able to be driven into the cargo and also be driven out when the ship landed. That is why the name is Roll-on/Roll-Off. Roll into the ship during loading and Roll Off after the Ship is berth.
Another reason why RoRo is chosen in preference to Container Shipping is because RoRo is Cost-effective and cheaper than Container Shipping.
Also, RoRo Shipping guarantees departures and Arrival dates and is very fast compared to Cargo Shipping.
One of the disadvantages with RoRo Shipping is that the Car owner is not allowed to carry any other goods along with the car other than the car accessories that came with it such as the spare tire, jack, etc
Cargo Shipping is mostly used when an immobile car is purchased. You can’t use RoRo in such situation because the vehicle can’t move.
You also used Cargo Shipping most time when you need to carry other goods or properties you bought from abroad examples phones, laptops, furnitures e.t.c and put them inside the purchased car and the allocated container space. This is an advantage you can’t get by using RoRo
Also, sometimes it is better to use Container Shipping When You buy and Need to Ship more than one vehicle. The allocated container space might be able to take between 2 to 8 cars or More depending on the size of the container you choose.
It is better to use RoRo Shipping if…
- the Car is in Running Condition
- You want the car to arrive faster
- You are not Shipping extra items with the car
There are two major logistics line that handle RoRo and Container Shipping, They are….
Grimaldi Group and
Grimaldi group is the major shipping line that most other importer that ship with RoRo method used.
Below are the major port through which you can enjoy the service of Grimaldi roup in Shipping via RoRo from the U.S.
Port of Savanah located in Georgia
Port of Baltimore Located in maryland
Port of Galveston, located in Texas
Port of Providence Located in Rhode island
Port of Jacksonville located in Florida
Port of Wilmington located in Delaware
Port Newark–Elizabeth Marine Terminal Located in New Jersey
Also, it is advisable to participate in Auction or buy from the location closer to the Port of RoRo
Ocean Shipping Fees vary between $900 and $1100 depending on the kind of car and the logistics company. That is, You budget an average of 1000usd to convey your car from USA port to Nigeria Port.
Then after Shipping, You Shlould be able to get the car at the seaport between 4-6weeks.
Clearing of The Car
Then make sure that Clearing Fee money is available as well.
Clearing Fee is varies depending on the year of the car
Clearing Fees of recent years Cars are more expensive than the older years’ Cars
A car between 2005 and 2009, You should expect to pay between 300k to 400k for clearing.
There are Clearing and forwarding agents who can help you do the clearing of the car immediately the car landed in Nigeria.
You can import car at cheaper Price from Abroad by yourself just by simply register on copart.com, Bid for the car of your choice and then ship it to Nigeria either through RoRo Shipping method or Container Shipping Method. You wait for like 6 weeks for the car to land in Nigeria, then You can use the service of a professional Clearing and Forwarding agent to clear it Out.
Note: If you will like to know better and be confident in doing this by yourself, I will like to introduce you to a full guide and easy to Understand Report work on Car Importation.
Click HERE to Continue…..