| Posted By: Andrew Brooks |
| Is this tax free for retirees under state retirement age as well ? |
|
|
| Posted By: evertonian |
| Is it true that a retired person in Cyprus can buy a new car at a massive discount by satisfying certain criteria plus form filling? A pal of mine thinking of retiring to Cyprus was told this in a dealership in Cyprus today. |
| Posted By: Kwacka |
| A retired person can buy a car without having to pay duty.
Whilst it seems a great saving, there are numerous problems with it - if you sell it you must sell to a person entitled to buy a duty-free car OR pay the duty; you have to get authority to pass it on (even if its to scrap it and then you will still have to pay duty). Who is allowed to drive it is severely restricted (members of immediate family resident in the same town).
Personally, I'd rather pay the duty and not have the hassles. |
| Posted By: evertonian |
| OK. So you can buy a shiny new car for the price of one four years old but may have some difficulty disposing of it. I guess if you sold it on to another qualifying person they would have to go through a fair bit of hassle as well. If you run it into the ground you couldn't scrap it without paying the duty?
Would love to hear from someone who's been through it and found it worthwhile or otherwise. |
| Posted By: clive of payia |
| As I understand it, when you sell a tax free car the duty you have to pay back is according to how many years you have owned it. Ten years and no tax to pay back. |
| Posted By: deafmillipede |
| most new cars sold in cyprus today are around the 1400cc mark.
the duty is about 680 euros,the vat and registration still have to be paid.
to go through all the red tape, interviews and waiting for your yellow slip,which can take 6 to 9 months,is it all really worth it.
you have to have all the paperwork in place before you can have the car,so if you have to rent a car for the amount of time it takes you will be out of pocket.
unless you are going to buy a car of 2000cc plus duty free not even worth considering. |
| Posted By: evertonian |
| Thanks for the comments. The salesman in the showroom had made it sound as if the savings were in the region of 40% ! He was showing my mate around a 2 litre car at the time though. Does that make much difference? Either the salesman had it very wrong or my mate mis-heard him. Thought it sounded too good to be true but then so does 5% income tax. Gary |
|
|
| Posted By: bill |
| To be honest NEW cars up to 1.6 are very reasonable in Cyprus and in my opinion not really worth the hassle of going duty free .
I bought a new Mazda in Cyprus last June and paid about £2000 less than if I'd bought exactly the same model in the UK so you can see that new car prices have come down a lot in Cyprus over the last couple of years so I didn't bother going down the duty free route ~ it just wasn't worth it .
I agree with the previous poster that unless you are buying a car over 1.6 ltr you may as well pay the full price and have the benefit of having no restrictions on what you can do with the car and who can drive it. |