Deano

Guys,

For those of you that have imported S2k's. How did you go about using the exchange rate and how did you do it. Have you just walked in to your high street bank and done the conversion or have you used another source e.g. broker or something. I am looking to import but not sure which is the best way to solving the money issue. In an ideal world it would be nice to be able to do bit by bit like when the rate is better but I don't know if that's possible to do.

Look forward to hearing your responses.

Cheers

UKjasonm

I think the general consensus is that HIFX are one of the best brokers to use. You can set your forward exchange rate with them for a small fee (well actually its a small adjustment to the rate). Hence if you feel the rate is suitable you get on the phone and order the entire amount, you will generally need 25% depoist and HIFX will want 10% of the forward fee the rest payable when the forward period ends, you set the forward period yourself, I set mine to 5 month and was spot on.

Good Luck

Deano

Thanks for that Jason,

Do they charge a commission or fees?

Where they good to use ie service and swift in making the transaction?

Dean

UKjasonm

They dont charge any fees, I think they simply make their cash on the rate, which BTW are generally very good. I found them very efficient and would definately use them again.

MarkW

Thought I'd pass on the benefit of my experience here for anyone interested.

I imported my S2000 through an import company called Access Car Consultants (which incidentally, they quoted me 16-20 weeks delivery time - I got mine in 22 weeks - not bad considering some of the nightmare stories on the import thread).

I fixed my exchange rate through a foreign exchange broker called MoneyCorp, in London. They were extremely friendly and helpful and offered me lots of good advice.

They do indeed make their money from a small percentage of the rate that is fixed. I fixed the rate by telling the broker to buy 23558 euros at a NET rate of 1.625 to the pound. They then put that order into the market and if that rate comes up, it is automatically bought for you.

I'm glad I did it! I fixed the rate at 1.625 back in February. When it came time to settle up and pay for the car in May, the rate then was about 1.55. Do the maths. I saved over

Deano

Cheers Mark

UKjasonm

Deano,

I think the company Mark is talking about is TTT . I checked them out when I bought mine, I went with HIFX as they offered a better rate at the time. Probably worth getting a comparison of the rates from them both and then making a decision as they obviously both come recomended.

Good Luck

Deano

Cheers Jason,

Thanks for all your help

Dean