Best (cheapest) way to pay for imported outboard

[FisHard]

Hi guys,
I'm importing an outboard from the states and looking for ideas for obtaining the best exchange rate for payment. I spoke to my bank (NAB) and they gobble up about 3.5c/100. Can anyone share their expeience in getting the best deal with a safe (!) Solution?
Cheers

[cormorant]

friend used ozforex to send money to a USA relative. I don't know enough to recommend them.

I think visa has a 3% fee but not sure what their rate margin is on top.

Aussie post has rate with no extra fees.

Citibank and HSBC had credit card accounts in currency and were good value but I haven't used it in anger in years.

If you already have accounts with a stcokbroker or any international shares they may provide you with a good rate and then you just have the TT fee to send offshore.

Be interested in what you find.

PS banks will overide fees and give better rates on larger sums or if you have a private account manager but most people fail to ask. Ask for a lower fee or a better rate or get them to match best rate you can find.

[Chimo]

Hi FH

Why not just ring the vendor and put the purchase on your Visa card. Pay the bill when you get you next Visa statement.

If you don't trust the vendor to use your credit card why are you dealing with him anyway?

Cheers
Chimo

[Muddy Toes]

When i bought my boat from Florida last year i just did an international money transfer of the money into the vendors account from my ANZ account.I think they hit me for about $50 for the transaction but my exchange rate was a 2% charge because the total was under $50,000 but if it was between $50,000 and $100,000 they said they could do it for 1%.Either way you go they will want a piece.

[cormorant]

Hi FH

Why not just ring the vendor and put the purchase on your Visa card. Pay the bill when you get you next Visa statement.

If you don't trust the vendor to use your credit card why are you dealing with him anyway?

Cheers
Chimo


The seller will have to pay a merchant fee on creditcards transactions anywhere from 1-4% ( for the benefit of not handling cash ) so he may not like that idea especially as there is a way to reverse the payment. Amex is even more expensive in some countries.


Visa put up there currency exchange fee to 3% with a lot of banks in the last 3 months plus the margin they take on teh real commercial wholesale exchange rate.

CC are a good way to buy but come at a cost for both parties but offer the ability for reversal etc etc. For large purcheses when you don't get extra warranties etc it gets expensive for the convenience as it is a % fe.

That said via have offered some good ex rates at times

[wrxhoon]

Xylo is the best ( their spread is under .3%) but you need a ABN or ACN to open an account , next best is ozforex still well under 1% . Forget the banks and credit cards they are all far to expensive.

[WRM]

I'm curious, how do you guys handle warranty on new outboards imported from the US? Yamaha has told us that if we ship an OB to AU there will be no warranty.

Rob Marsh
rm@wyerivermarine.com

[Muddy Toes]

I'm curious, how do you guys handle warranty on new outboards imported from the US? Yamaha has told us that if we ship an OB to AU there will be no warranty.

Rob Marsh
rm@wyerivermarine.com



With the amount of money we save by buying in the US i think a lot of people are like me and can justify the no warranty by the amount we save.Do you sell new outboards to Aus?

[Scott nthQld]

I'm curious, how do you guys handle warranty on new outboards imported from the US? Yamaha has told us that if we ship an OB to AU there will be no warranty.

Rob Marsh
rm@wyerivermarine.com


With the amount of money we save by buying in the US i think a lot of people are like me and can justify the no warranty by the amount we save.Do you sell new outboards to Aus?

Yep, nailed it in one, in some cases we are saving nearly 40% on what the same outboard would cost in Aus, so when you're saving that much, well, if it needs a rebuild during the next 5 years, adding that cost will still be under what we would pay in Aus, with warranty.

A mate of mine did just that last year, his dad lives in the US, and he got a great deal on an outboard, so much so he bought 2, crated them, got them sent to his old man address, shipped them over and sold the 2nd unit for a profit which paid for his transport, ended up saving damn near 50% by the time his customs and GST bills were due. He had a lot of disposable income and savings though and took the gamble....luckily it paid off for him, big time.

Also, I have a question Rob, if you can tell me that is.

A few members of this forum have heard rumors that some, if not all US outboard dealers have told by the outboard manufactuers that they are NOT to export to other countries and if they do they'll get sued and/or lose their dealership on the manufacturers product.

Are you able to confirm or deny this for me?? Are the manufacturers playing hardball and effectively banning the export of US market products to other countries?

[WRM]

We are one of largest exporters of US boats to AU. We are constantly being asked by our customers to source a few OBs and pack into the containers along with the boats. We did this a few times some years ago. Yamaha indicated to us unoffically that if we continued we would lose the dealership. So sorry we cannot buy and ship loose OBs to AU. There are a few dealers that will. Email me and I'll try to help you the best we can.

It amazes me to hear about the delta in pricing between most marine items in the AU compared to US pricing. 40% is nuts! This large difference cannot all be due to the great exchange rate.

Rob Marsh
rm@wyerivermarine.com

[STUIE63]

try 400% on some parts I bought a evinrude part locally for $180.00 AUD when it is available from boats.net for $40.00USD . this was when the 1AUD was 1.07 USD
I am amazed there is not more parallel importing going on

[FisHard]

Thanks guys, looks like there is plenty of interedt in this topic!
WRXHOON, have you actually used Xylo or Ozforex?
To add more justifacation to this argument, my new Suzuki will land for about the cost of a 2nd hand motor here. I've had ( in writing ) from the dealer, that in the case of a serious failure, I can ship the motor back to them within the warranty period, and they will fix it foc. The shipping (approx $2000 return) is my responsibility, but the saving I've made in the purchase price will cover doing that THREE TIMES! Pretty unlikely you would think? And that was even paying a little more to deal with a known supplier, rather than tracking down the cheapest price.

[Reef Cruiser]

i live in north queensland looking at buying a 175 opti up here they all quote me $20. ooo fitted and in brisbane $16.300 fitted so can you tell me that transport costs $3.700 no way if it did i am in the wrong job ...... but hey they get you up here buy saying if you buy that motor from the shop they have to fit that motor or no warranty ... i know we are all getting ripped of .... buy one from the states $10.300.00 plus gst plus shipping cost total cost $12.400.00 dollars its make me mad when you have to do this but if they looked after us in the frist place they would sell twice as many motors and would make more money on service work

[Steeler]

We are one of largest exporters of US boats to AU. We are constantly being asked by our customers to source a few OBs and pack into the containers along with the boats. We did this a few times some years ago. Yamaha indicated to us unoffically that if we continued we would lose the dealership. So sorry we cannot buy and ship loose OBs to AU. There are a few dealers that will. Email me and I'll try to help you the best we can.

It amazes me to hear about the delta in pricing between most marine items in the AU compared to US pricing. 40% is nuts! This large difference cannot all be due to the great exchange rate.

Rob Marsh
rm@wyerivermarine.com


Hi Rob

If you had in stock a comprehensive range of good running late model pre owned / used outboards i think you would do well and would think Yami would have no control over that being pre owned stock. Many times on here members have asked about late model runners from the states including my self which i touched base with you about last week.

Cheers Steve

[Jarrah Jack]

Hi Rob

If you had in stock a comprehensive range of good running late model pre owned / used outboards i think you would do well and would think Yami would have no control over that being pre owned stock. Many times on here members have asked about late model runners from the states including my self which i touched base with you about last week.

Cheers Steve

I'll second that I might be after a few motors soon.

[Muddy Toes]

Hi Rob

If you had in stock a comprehensive range of good running late model pre owned / used outboards i think you would do well and would think Yami would have no control over that being pre owned stock. Many times on here members have asked about late model runners from the states including my self which i touched base with you about last week.

Cheers Steve



Now there's an idea.....i would have no problem buying a very very very low hour outboard from the states.....kind of like a brand new one that's done a few hours for the cost that you guys sell new ones for.

[Steeler]

I have been researching for last couple of weeks 4 and 6 cylinder outboards from about 2003 and onwards and fair to say in the states they are about 60% the cost of something similar here.

Just to give an example a 2003 Merc Saltwater 4 cyl 125HP between 2700-3200 US as opposed to anything upward of 5000 here.Lots of other examples not to dissimilar in Honda's, Evinrude and Yamaha.

Need to read the inclusions listed though as controls, gauges and prop extra in many cases.

[rowanda]

I have been researching for last couple of weeks 4 and 6 cylinder outboards from about 2003 and onwards and fair to say in the states they are about 60% the cost of something similar here.

Just to give an example a 2003 Merc Saltwater 4 cyl 125HP between 2700-3200 US as opposed to anything upward of 5000 here.Lots of other examples not to dissimilar in Honda's, Evinrude and Yamaha.

Need to read the inclusions listed though as controls, gauges and prop extra in many cases.

what's the freight cost like? including duty etc? Wyerivermarine, can you help with any prices? I too would be interested and have been looking for a late model, preferably 4 stroke or fuel injected 2 stroke would do, 115hp preferably (yamaha would be nice so I can use existing controls etc)

[Steeler]

Hi rowanda

Can't help you much on the shipping costs, i have a good boss who will let me throw one in our next container shipment from North Carolina for nothing just the GST component.

I got info regarding govt charges and basically was told NO duty costs on the actual outboard just GST on the the total sum made up of actual purchase price + shipping and insurance costs.

Even if Rob doesn't keep any pre owned outboards in stock, i for one and only speaking for myself would happily pay Rob a small fee for assisting in facilitating a purchase to cover his time and any expenses. A small price to pay me thinks to have someone over there help find a good runner and bring some peace of mind to it all.

Hope that helps

Steeler

[wrxhoon]

Thanks guys, looks like there is plenty of interedt in this topic!
WRXHOON, have you actually used Xylo or Ozforex?
To add more justifacation to this argument, my new Suzuki will land for about the cost of a 2nd hand motor here. I've had ( in writing ) from the dealer, that in the case of a serious failure, I can ship the motor back to them within the warranty period, and they will fix it foc. The shipping (approx $2000 return) is my responsibility, but the saving I've made in the purchase price will cover doing that THREE TIMES! Pretty unlikely you would think? And that was even paying a little more to deal with a known supplier, rather than tracking down the cheapest price.


I have an account with Xylo and I use them its part of Westpac bank.
I know of others that use ozforex.

[WRM]

The used loose OB game is too much of a risk for us. Most people run their OBs until their almost dead then want to trade them in.

However, there are a few companies that are buying used motors and professionally rebuilding them. I will do a little research and see which of these OB remanufacturing companies will warrant their used OBs once deliverd to AU. This may be a decent option.

Rob Marsh
rm@wyerivermarine.com

[Steeler]

Hi Rob

As soon as i get my motor sold i will send you through a PM and see what you can find for me, more than happy to pay for your time and utilizing any contacts you have in the industry over there.

Cheers

Steve

[doublexl]

hi steeler,and everyone else interested i called customs and they say when you import a outboard new or used from the states the charges are worked out by the outboard price + freight+gst+5% import duty.

[Steeler]

Hi doublexl

I got them to send me an email with a link to PDF doc and was advised there is no duty payable only GST on the combined total made up of purchase price and shipping inc insurance,below is the section of the summary schedule in the document regarding engines.


SPARK-IGNITION RECIPROCATING OR ROTARY INTERNAL COMBUSTION PISTON ENGINES:
8407.10.00
23 No
-Aircraft engines
Free
8407.2
-Marine propulsion engines:
8407.21.00
--Outboard motors
Free
Comprising engine and transmission shaft with or without propeller:
.Manual start:
35 No
..Not exceeding 1.9 kW (covers 2, 2.5 h.p.)
36 No
..Exceeding 1.9 kW but not exceeding 3.9 kW
(covers 3.5, 4, 5 h.p.)
37 No
..Exceeding 3.9 kW but not exceeding 4.9 kW
(covers 6 h.p.)
38 No
..Exceeding 4.9 kW but not exceeding 6.9 kW
(covers 7.5, 8 h.p.)
39 No
..Exceeding 6.9 kW but not exceeding 9.9 kW
(covers 9.9, 10 h.p.)
40 No
..Exceeding 9.9 kW but not exceeding 13.9 kW
(covers 14, 15, 18 h.p.)
41 No
..Exceeding 13.9 kW but not exceeding 15.9 kW
(covers 20 h.p.)
42 No
..Exceeding 15.9 kW but not exceeding 19.9 kW
(covers 25 h.p.)
43 No
..Exceeding 19.9 kW but not exceeding 28.9 kW
(covers 30, 35 h.p.)
44 No
..Exceeding 28.9 kW but not exceeding 33.9 kW
(covers 40, 45 h.p.)
45 No
..Exceeding 33.9 kW but not exceeding 52.9 kW
(covers 50, 55 h.p.)
46 No
..Exceeding 52.9 kW
.Electric start:
47 No
..Not exceeding 11.9 kW (covers 8, 10,
15 h.p.)
48 No
..Exceeding 11.9 kW but not exceeding 19.9 kW
(covers 25 h.p.)
49 No
..Exceeding 19.9 kW but not exceeding 28.9 kW
(covers 30, 35 h.p.)
50 No
..Exceeding 28.9 kW but not exceeding 33.9 kW
(covers 40, 45 h.p.)
51 No
..Exceeding 33.9 kW but not exceeding 41.9 kW
(covers 50, 55 h.p.)
52 No
..Exceeding 41.9 kW but not exceeding 49.9 kW
(covers 60, 65 h.p.)
53 No
..Exceeding 49.9 kW but not exceeding 57.9 kW
(covers 70, 75 h.p.)
54 No
..Exceeding 57.9 kW but not exceeding 68.9 kW
(covers 80, 85, 90 h.p.)
55 No
..Exceeding 68.9 kW but not exceeding 90.9 kW
(covers 110, 115, 120 h.p.)
56 No
..Exceeding 90.9 kW but not exceeding
112.9 kW (covers 140, 150 h.p.)
57 No
..Exceeding 112.9 kW but not exceeding
179.9 kW (covers 175, 225 h.p.)
58 No
..Exceeding 179.9 kW
59 No
Other
8407.29.00
25 No

Perhaps you got a newby

As soon as i have my Johnyrude sold i will be trying to find one to purchase so will post on my experience and associated fees.

Hope this helps.

[fishfeeder]

What about a DEMO motor (like last years model) would that be called USED or would it still be sold under a NEW motor ???

Just thinking about loop holes to get an almost new motor upgrade.

Cheers
Brett

[Noelm]

There was a bit of a "racket" going on not too long ago by a US dealer, he was simply unpacking brand new motors and repacking them in other crates as "used" but they also got caught out. I am sure there is a dozen other ways to get a new motor over here, other than having a relative in the US to buy it for you and use their address for shipping, then forward it on to you. Some have even tried to buy a real sh!t boat and have the new motor bolted to it, and sold as a complete unit, it carries warranty in AUS, because it is "used".

[Steeler]

Not totally sure but i am thinking if its a demo then no prob, just err on the side of caution and not try to pull a swifty with the paperwork regarding its real value.

[Muddy Toes]

What about a DEMO motor (like last years model) would that be called USED or would it still be sold under a NEW motor ???

Just thinking about loop holes to get an almost new motor upgrade.

Cheers
Brett



Was thinking the same thing mate.

[fisho64]

Ozforex is the way to go.
Anything to do with the banks and you ARE being ripped off.
Just because the fees/spread/rate they quote might be a little different, they are still ripping you, just as in mortgages-"no entry fees" but higher rate, monthly charge through the backdoor etc.
Ozforex (and probably a couple of other non-bank ones) ONLY do FX so they have to be better to beat them.

[Ausfish]

Try Outboards Direct in the UK if you want to import cheap outboards with warranty
http://www.outboards-direct.co.uk

[Hazza1337]

A good mate of mine used OzForex and saved big time from fees / exchange rates ect. Also had the motor shipped without plugs / cowling and a prop all in separate containers ( boxes) imported them as parts and avoided the import duty.

Your milage may vary, however he is stoked with the motor and what he saved in the initial outlay he could spend on electronics ect. Another way to do it is if you know someone in the US military they can order them even cheeper through the US PX and then forward it on to you. That's what my mate did and he ended up paying just over half of what he would if he where to buy the motor in Australia - that included freight!

I still can't understand why it costs us so much - I guess everyone has got to get a cut.

[New Boats Direct]

Gentlemen

My first post for Ausfish and I am happy to provide info on importing and freighting as well as ADR's RVCS USA boats etc. Steve has encouraged me to pass on what info I can to assist - so I will be here every friday nite.

If I may offer the following. I import new Yamahas on the back of Glacier Bay, World Cats, Livingston and Carolina Cats as the Aussie dealer for these brands. I import these as a complete unit.

If you want to import Outboard motors, I can highly recommend http://www.outboards-direct.co.uk/ I have had dealings with them and they offer full warranty world wide and world wide delivery and they also know their stuff.

For payment I can highly recommend OZForex - no fees except for $15 for transactions under $10,000 no bank fees as they pay internally from a domestic bank in the USA. They make their money by buying a few points lower than they sell to you. You do not need an ABN as they do trades for private buyers that trade currencies just as you would for shares. I do a significant amount of dollars with them every month all over the world as I move boats for private buyers as well as being a new boat dealer. http://www.ozforex.com.au/ I hope this has been helpful.

Di

[FisHard]

Hi guys,
I started this post a while back and thought 1 or 2 members might enjoy an update.
Ok, there is no motor coming from the USA for me :( After a protracted wait and endlessly hounding the dealer, they have agreedto refund my money. The excuse was the supply problems due to the problems in Japan, but the story changed several times and it was very nerve wracking and frustrating! Its tough dealing with people 10 000 miles away, that have your thousands of hard earned but can't supply the goods >:(
I put my foot down last week and demanded a refund which they initially, strongly denied, but have now agreed to. My hope is that it will be forthcoming...
My lesson here is that the whole, importing from the USA is only for those with a strong nerve and time on their hands. You can certainly make some great savings and/or get gear not available here, but with the state of their economy now, is it worth the risk of sending a big pile of money over there without knowing FOR SURE you will get something in return (or when it will arrive)? At least if your local dealer scr=ws you over, you can go and punch his head in!!!
BTW please don't ask me to reveal the dealer in question. I don't KNOW for a fact they were not acting honestly. My friend bought a bmt package from them previously with no problems. I think its fair to say, there are problems with Suzuki supply in America, but I wasn't willing to wait in the current market (wait for nearly 3 months without a motor even on the horizon).
NOW, comes decision time to repower the old girl locally or ???
Bloody boats :(

[Steeler]

Thanks for the update FH, i to ended up buying a newer one here, for the life of me could not get any dealers to reply to my inquiries even though i was not asking them to ship internationally just another state in the US.

And the one who did respond gave me a price on a motor to purchase only to send me an email the very next day with a link to an ebay listing with that motor at auction starting at $500.00 more than the price he gave me and one bid already::).

Some of them must think we are a bit stupid down under.

[Muddy Toes]

Hi all thought i might dig this one back up and ask if any one has had any success in importing an engine?After this weeks efforts i'm in the market for a new 300 HP Yammie 4-stroke and was wondering if anyone has found a good Yammie dealer over in the U.S to deal with.

[pilchardjones]

Hi all thought i might dig this one back up and ask if any one has had any success in importing an engine?After this weeks efforts i'm in the market for a new 300 HP Yammie 4-stroke and was wondering if anyone has found a good Yammie dealer over in the U.S to deal with.

I am pretty sure Justin at Portsea Marine is back bringing in Yamahas, Suzis and Etecs. Has plenty on the go right now.
steve