Author Topic: Exporting my Cadillac... will that decrease he's value?  (Read 1335 times)

Offline Makandriaco

  • Posts: 113
  • My first car was a 59 sedan, that was in 1972
  • Name: Ricardo Jimenez Todd
Exporting my Cadillac... will that decrease he's value?
« on: January 29, 2013, 05:47:19 PM »
Notice that I refer to the car as HE and not IT. Just wanted to let you know it was not a mistake, that is how I always refer to him.

I live in Mexico, just south of the border with Texas. I purchased my 59 sedan with the intention of driving him (occasionally as I can’t feed him daily). For that to happen I need to export the Cadillac and then import into Mexico.

The restoration will be gradual, he runs right now and I will focus on the brakes, the paint and the electrical system, but I will be restoring everything else as I can. Even though I do not plan on selling the Cadillac, you never know, and I may need to someday. So my question is in the title: Will exporting the Cadillac will decrease the value? Will it be possible to sell it in the states in the future?

Thank you all.

1959 Series 62 4 Window Sedan

Always loved Cadillacs.

Offline Eric DeVirgilis CLC# 8621

  • Posts: 7039
  • Name: Eric DeVirgilis
Re: Exporting my Cadillac... will that decrease he's value?
« Reply #1 on: January 29, 2013, 06:03:14 PM »
I don't think the value of the car will be diminished per se, however registering & titling a vehicle in the US that's titled in another country may complicate matters somewhat thus potentially deterring some US buyers from the pool. So in a sense, "value" may be impacted if you believe the most interested & qualified buyers for the car reside in the US.
« Last Edit: January 29, 2013, 06:05:03 PM by ericdev »
A Cadillac Motorcar is a Possession for which there is no Acceptable Substitute

Offline Makandriaco

  • Posts: 113
  • My first car was a 59 sedan, that was in 1972
  • Name: Ricardo Jimenez Todd
Re: Exporting my Cadillac... will that decrease he's value?
« Reply #2 on: January 29, 2013, 06:10:33 PM »
Any idea of how much registering and titling the vehicle would cost today in that scenario?
1959 Series 62 4 Window Sedan

Always loved Cadillacs.

Offline Eric DeVirgilis CLC# 8621

  • Posts: 7039
  • Name: Eric DeVirgilis
Re: Exporting my Cadillac... will that decrease he's value?
« Reply #3 on: January 29, 2013, 06:46:40 PM »
Never having imported a vehicle I have no idea what to expect in terms of costs. I do know they can be pretty steep for those importing a vintage American car overseas (aside of transport costs). In any case, "red tape" issues are just as likely to give reason for pause as any "out-of-pocket" charges might.

Of course all this is moot assuming you can find a buyer who is also in Mexico. 
« Last Edit: January 29, 2013, 07:12:46 PM by ericdev »
A Cadillac Motorcar is a Possession for which there is no Acceptable Substitute

Offline The Tassie Devil(le)

  • Administrator
  • Posts: 12412
  • CLC Number: 18992
  • Name: Bruce Reynolds
Re: Exporting my Cadillac... will that decrease he's value?
« Reply #4 on: January 30, 2013, 01:06:24 AM »
G'day Ricardo,

You shouldn't have any problem with driving your Mexican Registered Cadillac anywhere in USA or Canada, as each Country has reciprocal agreements with being ably to drive a vehicle, so long as that person isn't a Citizen of the Country you are "Exporting" it into.   As in a Vacation period.

The only problem you might encounter is if you drive it outside Mexico for more than the allowed time before you have to Register it in USA.   Here in Australia, a visitor, bringing their car with them can keep it registered in their home Country for 12 Months, but if they become a resident, the vehicle has to be locally registered immediately.

The BIGGEST problem you will encounter is getting Insurance, if your present Company will not cover you for USA.   You will need a USA Address for a separate Policy, if you are Insuring it inside USA with a USA Company.

When I Drove around USA in 2002 and 2008 in cars I purchased in USA, I could transfer the registration into my name, but had to have a USA Address for the "Home", whilst I was in USA, and the only Insurance I could get in 2002 was from a company that dealt with Mexicans that couldn't get insurance, as I didn't have a USA Drivers Licence, and wasn't a resident of USA.   My own Insurance Company, which was a world-wide company, refused to cover me in USA, as they find that USA was so difficult to deal with.   Plus, the Insurance we got wouldn't cover us whilst driving in Canada, or Mexico.   Hence we didn't get into Mexico, which was a pity.

When I drove in 2008, I obtained insurance coverage in Michigan, when I got there, but again, I had to have a Michigan Address.   I had to get a Michigan Registration, as the car was previously registered in New York, and that State has to have the plates returned when a vehicle transfers ownership.

To answer your heading question, it all depends on what your car is valued in Mexico.   If the car is worth more there, then it will decrease in value if you take it to USA, where the car might be worth less.

Bruce. >:D
'72 Eldorado Convertible (LHD)
'70 Ranchero Squire (RHD)
'74 Chris Craft Gull Wing (SH)
'02 VX Series II Holden Commodore SS Sedan
(Past President Modified Chapter)

Past Cars of significance - to me
1935 Ford 3 Window Coupe
1936 Ford 5 Window Coupe
1937 Chevrolet Sports Coupe
1955 Chevrolet Convertible
1959 Ford Fairlane Ranch Wagon
1960 Cadillac CDV
1972 Cadillac Eldorado Coupe

Offline Makandriaco

  • Posts: 113
  • My first car was a 59 sedan, that was in 1972
  • Name: Ricardo Jimenez Todd
Re: Exporting my Cadillac... will that decrease he's value?
« Reply #5 on: January 30, 2013, 09:42:29 AM »
Thank you Bruce, but I have no problem or question about having the car in Mexico and then driving it into USA, I have lived in the border virtually all my life and driving cars sold in USA, registered in Mexico all that time. I know about the insurance and all other issues. The insurance I have for my cars has coverage in USA, I do not need an address there.

My concern is, that since the car would be better sold in USA (there might be a few collectors in Mexico but not that meny), what expenses will I encounter if I wanted to sell it in the USA after it was exported to Mexico?
1959 Series 62 4 Window Sedan

Always loved Cadillacs.

Offline Eric DeVirgilis CLC# 8621

  • Posts: 7039
  • Name: Eric DeVirgilis
Re: Exporting my Cadillac... will that decrease he's value?
« Reply #6 on: January 30, 2013, 11:20:32 AM »
Quick search found this.

https://help.cbp.gov/app/answers/detail/a_id/278/~/importing-classic-or-antique-vehicles-%2F-cars-for-personal-use

It's difficult to anticipate what the reaction a pool of potential buyers may be. No doubt it will likely spook some away if they feel the registration process is long and arduous. It does appear that the age of the car works more to your advantage. I think you're wise to investigate the matter prior so that you'll be able to address these questions when they arise.

*Incidentally the CLC directory lists 3 members based in Mexico. One has a very extensive collection. I'd suggest you become a CLC member which will enable you to obtain a directory giving you contact information for these members who'll likely have better insight on the subject.
« Last Edit: January 30, 2013, 12:15:31 PM by ericdev »
A Cadillac Motorcar is a Possession for which there is no Acceptable Substitute

Offline Makandriaco

  • Posts: 113
  • My first car was a 59 sedan, that was in 1972
  • Name: Ricardo Jimenez Todd
Re: Exporting my Cadillac... will that decrease he's value?
« Reply #7 on: January 30, 2013, 11:38:30 AM »
Thank you Eric, that was almost exactly what I was looking for. Exept that it does not address specifically the case where the car is american made, exported and then importing it again. I sent a question to the CBP. will post their response once I get it.

I will join the CLC soon, no doubt about it.

1959 Series 62 4 Window Sedan

Always loved Cadillacs.

Offline Jay Friedman

  • Posts: 2536
Re: Exporting my Cadillac... will that decrease he's value?
« Reply #8 on: January 30, 2013, 11:40:19 AM »
I imported a US-made antique car from an overseas country some years ago.  It arrived by ship and besides the shipping cost there were some customs and brokerage fees amounting to several hundred dollars. 

However, you would be transporting your car back to the US to a future US buyer via a land crossing on the US-Mexico border.  I believe (though I'm no expert on the subject) that formalities are simpler in such a situation and that customs charges would be minimal or non-existant.  I know of several Cadillacs that have been purchased in Canada by US members of the Cadillac-LaSalle Club and vice versa which were driven or trailered across the US-Canada border.  I have not heard of any issues with those car's values.  While I don't know of any Cadillacs bought or sold across the US-Mexico border, there are several members of the Cadillac LaSalle Club in Mexico who might be able to answer your questions about your car's value.   
1949 Cadillac 6107 Club Coupe
1932 Ford V8 Phaeton (restored, not a rod).  Sold
Decatur, Georgia
CLC # 3210, since 1984
"If it won't work, get a bigger hammer."

Offline ninosdad

  • Ninosdad
  • Posts: 20
  • Name: Don Fernandez
Re: Exporting my Cadillac... will that decrease he's value?
« Reply #9 on: February 01, 2013, 09:37:48 PM »
It is the "mordida" factor that will make it easy or difficult to get the car registered in Mexico past the frontier region to the interior. Is it worth more in Mexico than the USA? Best for you as a citizen of Mexico familiar with the local prices decide that. A freight forwarder can manage the documents I have imported several cars from Argentina and exported several to there as well. A government agent will place a value on the car and you will be taxed on that value. Use your imagination on how to lower the number, as works so ofen south of the border.
Don Fernandez

Offline Makandriaco

  • Posts: 113
  • My first car was a 59 sedan, that was in 1972
  • Name: Ricardo Jimenez Todd
Re: Exporting my Cadillac... will that decrease he's value?
« Reply #10 on: February 05, 2013, 01:58:07 PM »
No Don, I think I have not explained it thoroughly. Exporting it to Mexico is not the problem; I have all the papers, the fees, the means, the contacts and the money. Once exported into Mexico it becomes a Mexican national car as if it was sold in Mexico originally. So my question is, since it is easier to sell these types of cars in the USA, if I ever want to sell it, would making it Mexican affect its resale value?

Thank you all
1959 Series 62 4 Window Sedan

Always loved Cadillacs.

Offline The Tassie Devil(le)

  • Administrator
  • Posts: 12412
  • CLC Number: 18992
  • Name: Bruce Reynolds
Re: Exporting my Cadillac... will that decrease he's value?
« Reply #11 on: February 05, 2013, 04:58:17 PM »
......... .Once exported into Mexico it becomes a Mexican national car as if it was sold in Mexico originally. So my question is, since it is easier to sell these types of cars in the USA, if I ever want to sell it, would making it Mexican affect its resale value?........
No matter what country it is in now, it will always be a Cadillac.   Being a Mexican Cadillac will have no bearing on the price.   A talking point, yes, but still an American-built Cadillac.

Pre-war Cadillacs first registered in Australia after being imported are still American Manufacture, even if they came in as CKD's and were assembled here.

Bruce. >:D
'72 Eldorado Convertible (LHD)
'70 Ranchero Squire (RHD)
'74 Chris Craft Gull Wing (SH)
'02 VX Series II Holden Commodore SS Sedan
(Past President Modified Chapter)

Past Cars of significance - to me
1935 Ford 3 Window Coupe
1936 Ford 5 Window Coupe
1937 Chevrolet Sports Coupe
1955 Chevrolet Convertible
1959 Ford Fairlane Ranch Wagon
1960 Cadillac CDV
1972 Cadillac Eldorado Coupe

 

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