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Hidden cost of importing cars


mudgirl

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Those who are thinking of importing a car might be interested in knowing that Mexican auto insurance companies determine the value of your vehicle if it is imported, to be the replacement price NOB. This is, of course, totally unfair, since it has already been imported, i.e. nationalized, and should be considered to be a Mexican vehicle, and replacement costs of vehicles here is almost double what it is NOB. I bought a vehicle here in 2013 which had been imported legally in 2011 by the previous owner, a Mexican, all the papers were in order and it had had Mexican plates since 2011. I shopped extensively and people were asking 75,000-90,000 pesos for the type of vehicle I was looking for- I found something for 67,000. The auto insurance company listed the value at 40,000. I checked with other companies and this held true across the board.

Of course, you can opt to pay a higher premium to insure for a higher value, but this is still a hidden cost of importing.

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