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udayap

Prices Of Ordered Vehicles

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Dear All,

As you all know that prsently, the rupee is devalued in a incredible rate.

I am wondering that this will direcly increase the price of vehicales those already have been ordered by people but will be delivered in few months time.

As an example, i already ordered a vechicle for 3.2 million and it will be delivered in 3 months time. but according the agreement i signed the costomer has to pay the price changes attributed to changes in CIF value/taxes. Lets say, the ultimate price increment would be 1 million, then of course i am not willing to pay this extra sum. I just want to know that as consumers do we have a right to oppose this sort of price increase and come to a sort of negotiation.!!!!

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Look at the good news, tea in the UK is going to be cheaper, hang on....Tesco ain't dropped the price...whaz goin on, eh...dunno???

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Dear All,

As you all know that prsently, the rupee is devalued in a incredible rate.

I am wondering that this will direcly increase the price of vehicales those already have been ordered by people but will be delivered in few months time.

As an example, i already ordered a vechicle for 3.2 million and it will be delivered in 3 months time. but according the agreement i signed the costomer has to pay the price changes attributed to changes in CIF value/taxes. Lets say, the ultimate price increment would be 1 million, then of course i am not willing to pay this extra sum. I just want to know that as consumers do we have a right to oppose this sort of price increase and come to a sort of negotiation.!!!!

You need to be clearer? Is the agreement with the seller in the UK/Japan or a local seller? And was the agreement in rupees or dollars?

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If I am not mistaken, you are bound to pay the 'landed' cost. THat is you will have to pay the cost of clearng the car at the time of clearing using prevalent rates.

Correct me if I am wrong. But in 3 months God knows where teh LKR would be against the USD. :(

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Members,

Any thing imported to the country has to pay according to the prevailing exchange rate and the taxes at the time of import.

Few days back I imported air freight some goods what I wanted had to pay the present US$ rate. Taxes and based all other charges on new US$ rate.

Therefore all costs of motor vehicles and imported items will go up in cost.

Sylvi Wijesinghe.

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Dear All,

As you all know that prsently, the rupee is devalued in a incredible rate.

I am wondering that this will direcly increase the price of vehicales those already have been ordered by people but will be delivered in few months time.

As an example, i already ordered a vechicle for 3.2 million and it will be delivered in 3 months time. but according the agreement i signed the costomer has to pay the price changes attributed to changes in CIF value/taxes. Lets say, the ultimate price increment would be 1 million, then of course i am not willing to pay this extra sum. I just want to know that as consumers do we have a right to oppose this sort of price increase and come to a sort of negotiation.!!!!

I don't think you can walk away from your committment. Never imported a car, so I would not know but the nature of the business is that you have to honour the agreement.

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You need to be clearer? Is the agreement with the seller in the UK/Japan or a local seller? And was the agreement in rupees or dollars?

Edited by udayap

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An inherent disadvantage of the Letter of Credit payment system

Is there any other payment type other than this to import vehicles?

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Is there any other payment type other than this to import vehicles?

Not for motor vehicles.

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Micro Cars (Ideal motors)

If the advance you paid is non refundable then there's nothing you can do about it. They always make it a point in stating that the prices they quote at the time of ordering is based on the the current exchange rates and the prevailing government taxes.

You really can't blame the fact that the price went up due to the changes in government policy decisions on the agent. You are taking that risk when you're not buying ex-stock.

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An inherent disadvantage of the Letter of Credit payment system

Agreed machang. But I feel the advantages of LCs outweigh the disadvantages by quite a margin. Specially the areas of importer security. If the government policies weren't this drastic then we wouldn't even be having this conversation.

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Dear All,

As you all know that prsently, the rupee is devalued in a incredible rate.

I am wondering that this will direcly increase the price of vehicales those already have been ordered by people but will be delivered in few months time.

As an example, i already ordered a vechicle for 3.2 million and it will be delivered in 3 months time. but according the agreement i signed the costomer has to pay the price changes attributed to changes in CIF value/taxes. Lets say, the ultimate price increment would be 1 million, then of course i am not willing to pay this extra sum. I just want to know that as consumers do we have a right to oppose this sort of price increase and come to a sort of negotiation.!!!!

Yes it will increase the ruppee value you have to pay.

You have no rights. You've signed an agreement saying you will pay the price if the price changes. I suppose you could can cancel the order and loose the advance, but don't expect the importer to take the hit for you. It might be a first time thing for you, but they have experience with this sort of thing, thats why the agreement is structured like that.

Look at the good news, tea in the UK is going to be cheaper, hang on....Tesco ain't dropped the price...whaz goin on, eh...dunno???

The buggers who buy the tea pay US$ for it, not a ruppee value. Their US$ price wouldn't go down.

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If the advance you paid is non refundable then there's nothing you can do about it. They always make it a point in stating that the prices they quote at the time of ordering is based on the the current exchange rates and the prevailing government taxes.

You really can't blame the fact that the price went up due to the changes in government policy decisions on the agent. You are taking that risk when you're not buying ex-stock.

advance is refundable with a 15000 rs charge for documentation

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advance is refundable with a 15000 rs charge for documentation

There you go. It's all up to you now isn't it?

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it is for the current rates ,

i ordered a vehicle from Uk and i opened the LC at Rs184 /Per Pound and i collected the documents for the L/C at Rs 207/Per Pound last monday so i had to pay about 250,000 Extra .

but the duty rates havent changed SO FAR as it is imposed by the government .

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I imported a car recently from the UK and opened the LC when it was 178... when the documents arrived it was 190...

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Guys, is it a must to open a L/C in SL ? Can't you do the payments by TT ?

Sorry for my ignorance in the import procedure...

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The buggers who buy the tea pay US$ for it, not a ruppee value. Their US$ price wouldn't go down.

Not really dude. Devaluation of rupee is good for our exporters. See even though buyer pays dollars, exporter calculate their cost in rupees. When the dollar value goes high exporter is able to sell his product at a discount rate (in terms of dollar amount) since he'2:49 PM 3/22/2012s getting more rupees for the dollar and the importer can pass that advantage to his buyers.

China uses this strategy very effectively. They deliberately keep their currency at a lower value inorder for their exports to be competitive in the open market. A strategy that has been frowned upon by the west and the free market scholars.

Poor old GOSL does the exact opposite since we have an import oriented economy and a mountain of foreign debt that require repayment with interest.

Edited by xXx
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Not really dude. Devaluation of rupee is good for our exporters. See even though buyer pays dollars, exporter calculate their cost in rupees. When the dollar value goes high exporter is able to sell his product at a discount rate (in terms of dollar amount) since he'2:49 PM 3/22/2012s getting more rupees for the dollar and the importer can pass that advantage to his buyers.

China uses this strategy very effectively. They deliberately keep their currency at a lower value inorder for their exports to be competitive in the open market. A strategy that has been frowned upon by the west and the free market scholars.

Poor old GOSL does the exact opposite since we have an import oriented economy and a mountain of foreign debt that require repayment with interest.

You're assuming the seller will put a discount rate ;)

Besides, as far as tea is concerned, it it sold thru auction. Production cost isn't a heavy weight concern. My dad was in the planting business, thats how it works. You make the tea, put it on the block, and the buyers pay whatever they bid. If it doesn't cover your cost, then you make a loss...

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