PARALLEL IMPORT
What does it mean to buy from a parallel importer? Essentially, you are buying the same car but from a different source. When you buy from an authorized dealer, they obtain their cars direct from the parent company. And when you buy from parallel importers or grey marketers, we obtain our cars from a dealer in their domestic market who then exports the cars to us, in Singapore. You are still getting your dream car from the parent factory!
What are the benefits that parallel importers bring to consumers?
· Wider pricing alternatives Consumers are given a wider choice for the price of a desired car. Because we have no regulations on selling price and lower overheads, we are able to provide consumers with a better value for the same car as from an authorized dealer.
· Obtain cars that authorized dealers do not carry in the Singapore market There are many models in a particular make that the authorized dealer chose not to bring in to the Singapore market. This could be due to a difference in timing of new model launches in various countries or a belief that the particular make does not have a large enough market to justify it being brought into Singapore. In this way, parallel importers can provide a service to those who desire a particular model and we, at Leco Motor provides the means to import it into Singapore.
· Eliminates administrative chores for the consumer Because you buy from a parallel importer, everything from importing the car, clearing customs, LTA (Land Transport Authority) to the actual registration of the car will be taken care of by us. This saves you the hassle of obtain the required documents yourself or getting the car for inspection as required by LTA. We at Leco Motor put your mind at ease and save you precious time by handling such chores for you.
How long does it take to take delivery of the car?
The car has to go through several stages before it can be registered.
Stage 1- Singapore Customs Clearance
Car documents have to be submitted to the Singapore Customs for customs valuation of the cars. Upon valuation of the cars, an open market value (OMV) would be assigned. This process will take about 5 working days. For example, if the documents are submitted to the Singapore Customs on Monday, the OMV will be assigned via fax on Friday or Monday.
After receiving the OMV of the car, we are then able to process the import permit to bring the car out of the port.
For more information, you may visit http://www.customs.gov.sg/
Stage 2- VITAS Submission
Car documents of the various models have to be verified and approved in batches by a system called VITAS (Vehicle Inspection and Type Approval System), under the Land Transport Authority.
This process takes about 3 working days to a week, depending on the volume of submission. That is, if there are a great number of car being imported and submitted to VITAS at the period of time, the process will be slower.
For more information, you may visit https://vitas.lta.gov.sg/VtPublicLogin.jsp
Stage 3- Vehicle Inspection
After VITAS has verified the car documents, a Notice of Inspection will be sent to the importer via email. We are then able to bring the cars to the authorised LTA Inspection Centres (eg VICOM Ltd or STA Inspection Centre) for inspection.
Stage 4- Notice of Approval
All cars in the batch submission has to be inspected and approved by the LTA Inspection centre before a Notice of Approval will be sent to the importer via email. This could be delayed at times if the engine number or chassis number does not match with the documents. As such, the documents will have to be amended before we can send for the next inspection.
An approval code will be given together with the Notice of Approval. With this approval code, we are then able to proceed with the registeration of the car.
Stage 5- Registration of the car
Now, we are closer to the car delivery- Registration.
We have to arrange for the car insurance and collect any outstanding payment of the car before we proceed to register the car.
Once the car is registered, a copy of Acknowledgment Letter will be generated from the LTALink (replaces the previous LOGCARD system). The Road Tax will be sent directly to the Registered Owner within 7 days of Registeration.
Stage 6- Car Delivery
We want to make sure that the car is in a tip-top condition when customer takes delivery of the car. The car will be groomed and polished and its number plate affixed.
Number plate affixing may require a slightly longer processing time for Off Peak Car (OPC or Weekend car). OPC number plate has to be 'seal' at the LTA Inspection Centre.
Last but not least, don't forget to try your luck - Buy 4D.. Best of Luck!
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