Virus having any foreseeable impact on importing?

Discussion in 'General Chat' started by dmnd, Mar 23, 2020.

  1. dmnd

    dmnd Tuna Sandwich

    Joined:
    May 28, 2014
    Messages:
    49
    Hey guys, been awhile! Anyone still around?

    Have there been any rumours floating around on how this virus may cause importation headaches?

    I have a few concerns.

    First, the strength of the CDN peso is getting pummeled. I kind of almost want to purchase a large sum of JPY and somehow keep it on hand, perhaps it can be kept on my wire account, not sure. This would help any surprises in FX rates between the time you win a auction car to the time you are invoiced and send the wire.

    Second is the problem of being able to get your car. Is there any possibility the WWL port may be forced to temporarily suspend operations if the situation worsens? And do I really even want to go near an airport to catch a flight out to retrieve a vehicle at the moment...

    On the flip side I see there being minimal impacts on the Japan export side of things.

    Thanks all, hope everyone is coping well!
     
  2. RyanV

    RyanV Member

    Joined:
    Jun 20, 2013
    Messages:
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    Location:
    Langley, BC
    I don't have anything to add to help you out, but I'd say if you are just looking at purchasing something, put it on hold. The best thing you can do for everyone's benefit is to not put yourself in a position where you need to travel. If you've already purchased something and need to go pick it up, I'd be calling WWL and CBSA to find out what the current policies are. I wouldn't be surprised if WWL isn't allowing people to physically come to pick up. I don't know what their work around procedure would be, but it's likely that they'll have something eventually if they don't already.

    And if you CAN, go and pick up, it might be better to find someone who can make the drive with you rather than flying. Of course, then you have to find a place to stay for at least one night. I'm not sure if there is a good way around this right now, but there could be a good buying opportunity in the future after this subsides. Given the current economic outlook, there could be less demand for people looking to import. If you can hold onto a car for a couple of years the value of some vehicles could go up. I picked up my Alpina in 2011 when things were looking poor on the economic front, so I got it for a good price. Of course, in my case, it's something I wanted for myself though rather than for resale.
     
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  3. Dah_Hunter

    Dah_Hunter Looking over your shoulder, so you dont have to.

    Joined:
    Jun 20, 2013
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    Location:
    Lower Rainland (BC)
    I havent heard anything on the Japan side.. On this side.

    The Public are no longer allowed at the port. Only Towing compnays are allowed in (Which i fall under if anyone needs a car picked up let me know>

    The exchange rate has tanked so not sure why you would want to buy any YEN right now.. then again it has been lower in the past and honstly doesnt seem to stop anyone from buying stuff in japan. (It might a little bit.)

    I have a client right now that i was supposed to fly out and get a vehicle that i picked up for him and his flights are canceled.. soo that for sure an issue.. I would delay shipping to Canada if you do buy something, hopefully things settle down a bit by May.