Thread: Import your own car or buy local?

Assuming one has a modest and reliable car (e.g., 10 yr old Camry), would it make better sense to import it, or buy a similar vehicle in Panama? Is Toyota service available or should we just depend on a local shop? And the perennial question - what is gas going for (just paid $4,00 in San Francisco CA)

TX

C.

You may wish to peruse the forum. This has come up on a number of occasions. There is a search box in the upper right of your screen. The gas question might be worth a reply though.

I may be going out on a limb here, but I believe the consensus is it is best to NOT import a vehicle into Panama. There are a host of reasons, from excessive import taxation, to potential "problems" at the import location, to availability of parts for a US spec vehicle when it comes time to have repairs performed.

We are not going to import our two vehicles when we move back to Panama....

Premium is $4.03 here right now. We bought here.

Gas prices you can find here: http://www.acodeco.gob.pa/estadisticas.asp?area=3

If you are driving your car to Panama from the US/Canada you might as well import it as well.

Originally Posted by Carramba

Assuming one has a modest and reliable car (e.g., 10 yr old Camry), would it make better sense to import it, or buy a similar vehicle in Panama? Is Toyota service available or should we just depend on a local shop? And the perennial question - what is gas going for (just paid $4,00 in San Francisco CA)

Yes, don't import it. (Especially a 10yr old Camry). Our option was a 2 yr. old Hybrid Camry last year... and we still didn't import it. Glad we didn't. Heard nothing but headaches from others who did it...

Gas, 3.70 for regular.

I've just imported a new Honda Civic Hybrid from the US.
I've paid about $22K for car in America and about $1700 of taxes in Panama.

Shipping and processing costs (Miami-Panama) were about $1000

Customs clearance was done by customs broker and took about 3-4 days.
Registration in ATTT took about a week and was done by broker for $250 including official fees.

If you want to buy a car, buy a new or used Hybrid as they are tax exempt until 2012 (only 7% IBTMS)
All non-hybrid cars have to pay 20-25% in duties.

Don't buy used car in Panama, all of them usually a piece of wreckage.