The Hidden Costs of Buying a Personal vehicle in Guyana
Migrating to the Caribbean is much different than choosing a European or Eastern destination. Yes there is the heat, the salty air, the spicy food and the developing infrastructure but there are unexpected costs that don’t immediately come to mind nor show up on the trendy top 10 lists. We’re here to make your transition a success, so let’s be transparent about the hidden costs of moving to Guyana from the West if you plan to own a vehicle.
Top Hidden Cost – Importing a Vehicle
Driving in the Caribbean is expensive and owning a vehicle comes with significant costs. Thinking about importing your car from the US? That’s probably a terrible idea and its better if you think about leasing or purchasing your vehicle in Guyana for several more obvious reasons:
- Vehicles must be no more than 4 years old, calculated in months from manufacturer date – this makes your selection of vehicles to import very narrow and expensive. There are plenty of road-worthy vehicles in the used car market without the sticker shock.
- Only small engine gasoline vehicles and fully electric vehicles can be imported without a luxury/excise tax – in fact, plan to pay at least the retail value of your car in fees but more likely it will cost 1.5x to 2.5X the retail value of your vehicle
- Fully electric vehicles currently enjoy 0% VAT and Duty
- Read all of the details on fees here – they can be confusing, so schedule a consultation with Elise to save thousands on importing your vehicle or buying one in Guyana
Bringing a left-hand driving car into a right-hand driving country? Your left-hand vehicle will stick out like a sore thumb and you’ll have the added difficulty of negotiating the road from the opposite side in a vehicle that was not designed for this purpose – this can cost you much more than any other fees you pay for the actual car as the narrow roads and poor road conditions greatly increase the chance of personal and property damage and repairs
Import a vehicle from Japan!
Working with a local roll-on, roll-off dealer you can order a right-hand driving car from Japan with very good retail prices, which also incur the standard VAT and Duty dependent on age, engine size and fuel type. This method is not as costly as a brand new vehicle found in Georgetown, but it can take a while to receive your vehicle whereas a new vehicle is immediate.
Instead of the line items you worry about with customs, here the dealer takes care of it for you and gives you one final price. Your documentation will show all the fees you pay including the cost of the vehicle to arrive at your final amount due. With an importer, you come and present paperwork, pay your Duty and Fees and drive off into the sunset with your vehicle (actually you have to take it to be properly registered and get a license plate).
Buy Local Vehicles
Buying local is a good idea, even though it is still more costly to own and operate a car in Guyana than in the US. Here the price can be double what you would find it for in the US and double as old as you might expect. There are plenty of new, smaller cars and larger SUVs but most of the local vehicles will have some age and be priced high for US comparison.
If you don’t have a mechanic, buying a local vehicle should come with one! Make sure you get their mechanics info and take your used vehicle to the mechanic who knows it. So try a local vehicle for some cost savings but still a hefty variance compared to the US.
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