Cars have become a critical part of our lives. No wonder the automobile market is one of the most lucrative sectors worldwide. Buying and selling vehicles overseas can be daunting if you don’t know the tricks of the trade. Understanding how to buy and sell cars overseas can save you a substantial amount of stress and hassle. Here’s a comprehensive guide to buying and selling vehicles overseas.
Table of Contents
Storage
If you’re into buying and selling cars, a warehouse provides an ideal location for receiving and storing your vehicles. Specifically, it increases the efficiency of order processing. You can stack inventory as high as you want as long as the space contains them. When a customer makes an order, you can use a heavy-duty driver lift truck to load the car into the moving truck.
Keep in mind that placing a heavy load on the forks translates to stresses, strains, and shock loadings. That’s why metal forks (also referred to as tines or blades) are the best bet when lifting cars, as they’re much stronger than many others. That said, it’s vital to conduct regular fork inspections to check the equipment for wear and damage. Fork damage typically occurs due to overloading beyond rated load capacity, normal wear, and improper chain adjustments.
You may decide to enroll your forklift operator in a standard forklift operator training program to mitigate damage caused by improper operation of the truck. Experts recommend appropriately repairing or getting a lift truck fork replacement if there’s a reported case of a malfunctioning positioning lock or surface cracks. Also, keep an eye out for any difference between lift heights and fork wear. You’ll need to replace the forks once you notice excessive wear in the thickness.
Financing
Car imports require substantial capital. Many car dealerships are looking for ways to minimize costs while maximizing profits. Notwithstanding, ensure you buy your vehicles from reputable dealerships. That way, you get good value for your money, and your customers go home happy.
If you’re a Ghanaian or reside in Ghana, you can find quality cars for sale in Ghana at affordable prices. Even if you want to buy a used car, you’ll find a dealership that can hook you up. Besides Accra, you can find reputable auto dealers in Kumasi, Tamale, and Cape Coast. Alternatively, you can request word-of-mouth referrals from your loved ones. Or, you can leverage credible auction sites to bid for cars of your choice.
Transportation
You need to decide on the type of transport to receive shipment or send vehicles to customers. If you buy a car in the United States, you have a couple of options, which vary depending on cost, time, and security. For example, you have the Roll On, Roll Off (RORO) mode. This is when the vehicle is loaded directly onto a ship and moved to your destination. Travel time varies based on location. The downside to RORO is the increased risk of theft or damage with international shipments. A more secure option is the containerized shipping technique. Although it is pretty expensive, this method is inarguably the most secure and fastest means of shipping your vehicle.
Insurance
There are many risks associated with a car import business. Unfortunate occurrences happen all the time. For example, cars may get damaged on their way to the customer. Of course, you would have to bear the cost of repairs, which can impact your bottom line.
Fortunately, you can secure business insurance to protect against unforeseen circumstances. You might want to purchase cargo insurance or goods in transit insurance to provide comprehensive coverage. Many insurers offer this either on an annual or a per-trip basis. Speak with your insurer to discuss a plan that adequately protects you and your business.
