banking

sids1969


Joined: 06/07/2007
Posts: 77

Message Posted:
05/09/2007 14:24

we are moving to trnc in about a year and been told off our friends to run up a credit card debt and just dissapear has anyone eles done this, as it would be nmice to sting the b*****ds as they sting us english.

Marvo


Joined: 30/04/2007
Posts: 194

Message Posted:
05/09/2007 14:37

I cant believe anyone is stupid enough to ask this question on a public forum and is expecting others to openly admit having done the same and got away with it.

Ask your so called friends if they have done it and what the consequences were. Remember, you have to have a bank somewhere, and the banks are not as thick as your friends think they are.

Notsoboredhw


Joined: 15/03/2007
Posts: 1254

Message Posted:
05/09/2007 14:37

And what happens if things dont work out for you in TRNC you will get no credit, no debit cards/credit cards, no mortgage, no nothing! I would say dont risk it and ignore what your friends are telling you! Very silly idea!

sids1969


Joined: 06/07/2007
Posts: 77

Message Posted:
05/09/2007 14:47

it was just a thought, yea silly idea, i just want a peace full live out there and not to be looking over my shoulder, on a more serious note.... can anyone tell me if your allowed to bring one car over tax free as i have heard this in the past



thanks

Marvo


Joined: 30/04/2007
Posts: 194

Message Posted:
05/09/2007 15:12

These forums are excellent Paul, it's only taken 23 minutes to get you back on the straight and narrow and away from a life of crime and always looking over your shoulder.

With regard to your car, sell it in the UK and get one over there. Apparently you cannot bring a car into the country if it's over 4 years old and they charge you 40% tax on the market value, I don't think I've heard of anyone bringing there car over.

ttoli


Joined: 24/03/2007
Posts: 1172

Message Posted:
05/09/2007 19:00

sids1969



The scheme that you are talking about applied to those of retirement age only, but was stopped a few years ago.

You can bring a car in under 3 years old, if european manufacture you'll pay 40% of the glasses guide value, japanese 60%. Only other way is a classic car (25 + years old, though the Classic car club have a vote on wether they consider it a classic, yet surprisingly there are Triumph Stags here!!!) As Marvo says buy one here, Plenty of choice.

sids1969


Joined: 06/07/2007
Posts: 77

Message Posted:
06/09/2007 00:23

we have looked on the internet for prices of cars and cant find any websites of cars and prices, does anyone know how much new or used 4 x 4s are we were looking at a kia sportage in the uk,

ukturk



Joined: 01/09/2007
Posts: 1974

Message Posted:
06/09/2007 10:48

hi there sids

many of the car dealers in north cyprus have got their own websites but a good website to get a feel for the prices for cars over here is http://www.cyprusmotoring.com the website is in turkish what you do when you are the main page at the top of the page in a box with a red banner it writes ARA click on this and it will show you all the results it has on this website around 14 pages of cars hopes this helps

Tiggy


Joined: 25/07/2007
Posts: 1994

Message Posted:
06/09/2007 11:20

I agree Marvo,these Forums are excellent. I was going to ask about bringing my 1990 190 E over as it is in immaculate condition and I would have loved t o have driven it around the island. Alas now it will have to stay behind in the UK.



Sids1969 original question is not a new idea. I heard from a friend a few years ago who's neighbours moved to Australia doing exactly the same scam. they returned a couple of years later and no bank would touch them. So Sid1969 start afresh in sunny Cyprus!! nuff said.

davidoff


Joined: 21/04/2007
Posts: 438

Message Posted:
06/09/2007 12:12

Hi sids,



Wouldnt if I were you as if you neede to come to the uk again- you will have serious problems, people after you and if you needed credit etc you would be blacklisted and would nt be able to apply for credit etc!



Also If any future changes occur in NC at a later date i.e EU accession, double treaty with the uk etc then they will be after you!!



See ya D



P.S- Nice thought though but wouldnt recommend it unless you intend on changing your WHOLE IDENTITY afterwards!!

sids1969


Joined: 06/07/2007
Posts: 77

Message Posted:
06/09/2007 12:45

thanks ukturk, for that websie had a look, were in the north is it, as were flying out there on sunday for 10 days

BILLY


Joined: 15/01/2007
Posts: 141

Message Posted:
06/09/2007 14:01

You can buy a North Cyprus "Auto Trader"type magazine in most supermarkets.

Its printed monthly and it has private and garage adverts full of cars for sale .

This is the best way to get a feel for the prices. A new Kia sportage will cost around £20000 which is steep considering you could get one for £14000 in UK.



Did your "friends " not suggest you buy a car in the UK on that credit card then drive it over. ????????????

ukturk



Joined: 01/09/2007
Posts: 1974

Message Posted:
06/09/2007 14:17

the website i gave is for people selling their cars and dealers aswell, most people buy their cars from a dealer called nicosia motors this is their link http://www.cyprusmotoring.com/nicosiamotors they are based in lefkosa on the lemar road ortakoy tel number 0392 2270173 or this dealers deals a lot with 4x4s http://www.cyprusmotoring.com/macilaautos they are also based in lefkosa it is worth going down to lefkosa to have a look because their are loads of dealers there plus their are quite a few main car dealers there also plus you will get a better deal in lefkosa rather than buying in famagusta or kyreina

i hope this helps you other than me coming down their with you and buying it with you if you want i can do the translating for you L.O.L

good luck

p.s always barter with them aswell at least take a couple of grand of the price and let them work up to the price they really want to sell it for also ask for full tank of petrol and 1 years free insurance dont matter if it is second hand or not

mikedalton


Joined: 19/06/2007
Posts: 21

Message Posted:
06/09/2007 15:25

Can a BMW 635csi coupe 25 years old and left hand drive be legally imported into TRNC? if so, what would be the approximate customer duty. I'd love to bring this machine in as it's been lovingly restored, at great cost, and is still a fantastic car to drive. 5 speed manual, sunroof, leather, electric, various minor upgrades. Any BMW car fans out there?

BILLY


Joined: 15/01/2007
Posts: 141

Message Posted:
06/09/2007 17:06

According to About North Cyprus.com you would pay import tax on a classic at 22.14% of the price of the vehicle at time of manufacture and you would have to provide documentary proof of this. Also $600 USD on top of that.

The fact that it is left hand drive may be a problem as I believe the authorities have banned the importation of them owing to the number of accidents they are involved in.

tonyhickey



Joined: 13/06/2007
Posts: 413

Message Posted:
07/09/2007 02:06

former bus driver has been made bankrupt owing £250,000 after buying four pubs on credit cards.



Andy Banwell, 44, who features in the documentary 'Debt - The Insider' was made bankrupt for the first time seven years ago owing £12,000. He said at the time that if he were going to be made bankrupt again it would have to be for £1 million. This time he managed a quarter of that figure.



In the run-up to the second bankruptcy, Andy took every loan that was offered to him, but his downfall was the money he borrowed to fund his entrepreneurial lifestyle. As a big drinker (he used to down 20 pints and a bottle of vodka a day) he thought he could make a lot of money running pubs.



"I knew nothing about pubs but somebody got me into the idea that it would be good," he says, "and you know everybody that drinks in a pub thinks there's loads of money in this. So I found out you could buy leases fairly cheaply, went along, looked at a pub that was run down, thought yeah I could do this whole thing and borrowed some money - on a credit card."



In fact, he managed to get 17 credit cards, four £25,000 loans and several other loans from doorstep lenders offering money to do the roof, buy a kitchen and get new household equipment, among other things.



He says: "I'd apply for cards and be accepted. Every time I went over my limit they'd just increase it further. Sometimes I'd even call saying I need an extra £10,000 and they'd just say 'OK'. The debt just mounted."



But it was the pubs that bled him dry. He bought a 30-year lease on the Monkton Inn near Taunton, Somerset, for £25,000. He sold at a loss 18 months later having spending £24,000 on it. He also bought the Kellaway Arms, in Bristol, the King's Head in nearby Whitehall, and soon afterwards he got the Bunch of Grapes in Bristol city centre.



Once the Grapes began losing cash, Andy sold the Kellaway to try to keep his head above water but he had to give up after an unexpected £13,000 rent bill on the Grapes. "The idea was always to pay everything off, never buy anything that didn't make money," he says. "The reality is there wasn't the time for all these individual businesses to make the money back to pay off everything that we'd borrowed - the interest was too high."



Andy never thought about the interest rate he was paying on the loans and credit cards when he took them out. In fact, because he used some of the credit cards to borrow cash, he started paying interest from the day he took the money out of the ATM. So very quickly the debts mounted up to an impossible level.



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