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Category: Ecuador for Investors
Common Used Car Mileage Scam in Ecuador Revealed
Before you buy a car in Ecuador, read this and proceed with caution.
Buying a car in a foreign country is an adventure in and of itself, but doable if you keep a few things in mind.
First off, know that prices for cars tend to be higher than those in the US, and to find the best deals, you must go directly to the dealers who provide buy here pay here that import the make of the vehicle you wish.
Everyone knows that when you need to find new or used cars for sale, you go to a dealership, and this is usually your best option to find a wide assortment of vehicles in one place. But maybe you visited your local dealer and didn’t see anything you liked, or maybe you just want to familiarize yourself with the prices of used cars in your area before you head to the dealership. The Superior subaru dealership of houston offer an excellent selection of used cars, trucks, and SUVs. From low-cost models from brands like Toyota and Chevy to low-mileage certified vehicles from Subaru itself, we’ve options for everybody . Scroll through our online listings to ascertain what’s available for used car shoppers. Here are five other options you can try!
1. Online
This is probably the most obvious option for where to look, but the internet is a great resource for finding used cars for sale. For one thing, it opens up a market far beyond just your local area. You may have to pay to have the vehicle transported, but this is a great option if you’re looking for something specific. You probably know to check Craigslist, but if you’re looking for antique cars, try eBay!
2. Newspapers/Auto Magazines
Even though print media isn’t as popular as it used to be, classified ads are still alive and well. Find out if your local newspaper has an expanded classified section on Sundays! Be sure to also check free classified publications such as the Penny Pincher. Automobile trade magazines, often distributed outside of businesses, are also a good source of leads.
3. Automobile Auction
This one might require a little help because most auctions require the purchaser to have a dealer’s license. However, if you can find someone with a dealer’s license, auto auctions are an excellent place to find used cars for sale! These are often vehicles that have been repossessed or acquired as part of a lot, so they can usually be sold very cheap. As with any purchase of a used vehicle, make sure to bring someone with you who has mechanical knowledge so you can be sure you’re getting a reliable ride!
4. Drive Around
Many consumers these days rely on the internet or retail sites to find used cars for sale, but sometimes it’s better to go back to an earlier time when people often found cars for sale by spotting them while they were driving! People often put their personal vehicles for sale on the side of the road or in public parking areas with signs in the windows. Try driving in less populated areas to find options that have perhaps gotten less attention. The owner will be more likely to negotiate with you on a good price!
5. Ask Friends and Family
Sometimes we overlook the simplest answer, which is looking to our friends and family for help. If you ask the people you know, whether it’s coworkers, friends, or parents, they may have a lead for you. Turn to your circle and ask if they know anyone who is selling or if they’re thinking about selling their vehicle. Having a connection may help you secure a better price!
No matter which method you use, whether you end up going with a traditional dealership or one of the options above, be sure to do your research and shop around and you’ll be sure to end up driving something you love.
Another very important thing to keep in mind is that in Ecuador, many, many people adjust the kilometer (mileage) meter on the car so it appears the car has much less mileage on it than it really has.
Yes, this is illegal, like in the States, but not enforced, and very common.
In fact, many locals don’t even see this as ethically wrong. So that car you just bought with 10,000 km actually has 60,000.
For this reason alone, I would not buy a used car in Ecuador, unless it was of a friend, period.
The best way to find the hottest deals on new cars is currently on the internet. The two most popular sites for shopping for cars in Ecuador, to see prices and the like, are patiotuerca.com and patiodeautos.com.
Most locals find the car they desire on these sites, get the phone number of the dealer offering the car and reach out to them in person or via telephone to further the purchase. It is obviously not advisable to purchase a car you have not checked out in person.
As always, welcome to Ecuador.
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Properties under $50,000 in Ecuador
There they were,” I thought as I spotted them walk out the Guayaquil Airport gates.
I threw out my cigarette and walked over to greet them, a Canadian couple who had asked me to help them find a home deal on the coast of Ecuador. As we caught a cab they began to mention what they were looking for… “A livable, turn-key house with few needs for improvements…not a condo… right on the water- oceanfront, not even one row back… maximum budget $50k”.
Jeeze, I thought to myself, these guys have been reading too much Ecuador hype on the net. Yes, the kind of deal they’re looking for can be found with some down-and-dirty local-style house-hunting like how I explain in my Ecuador Property Guide, but I knew it would be difficult to find something they liked in the week they had in Ecuador.
We started in Salinas and started to work our way up the coast. We found houses a row back from the ocean for under $50k, but the homes on the water, beachfront, that were livable needing little work were a bit over budget, all starting around $70k…
We looked and looked, until finally we DID find a beautiful white-washed Mediterranean-style 3 bedroom home with big glass windows facing the ocean they loved, with a porch seemingly jetting out right over the water- listed at $45k, but it was out in the middle of absolutely no where…and they didn’t like that. Finally, they gave in; disappointed that they spent thousands on flights and couldn’t find what they were hoping for. Their demands simply were too rigid for the short time they allowed to house hunt.
A few things we can learn from this experience. Understand realistically what $50k will get you in Ecuador in 2011 before you come… Talk to someone locally or ask me… But basically, $50k or less can get you a 1 or 2 bedroom condo in decent areas of Quito, Cuenca, Manta or Guayaquil (but you might have to search a bit). Also, it could get you a livable house in need of a little TLC and some improvements starting a block back from the ocean on the coast. On the water it will be a bit more expensive.
As for vacant land, you could get a large 1 hectare lot out in the countryside which may sell for around $5 a square meter (total $50k). Or a smaller 250 sq. meter vacant lot closer to the ocean in a town on the coast ($60-90 sq meter). But prices in Ecuador vary greatly so the more time you give yourself to look, the better…
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How to Export from your Farm in Ecuador
Farming, then exporting. Another big opportunity to make money from your property in Ecuador. Learn how to get started this week as I report from Anyang, China, where I will be for the next 10 days on an Ecuador-export-related mission.
I’ve noticed a lot of interest in owning a farm in Ecuador. It makes sense considering Ecuador has everything from deserts to the fertile valleys of the Andes to the jungle (all packed into an area about the size of Nevada).
Anything you want to grow, you can probably find the climate and elevation for it in Ecuador. It’s true, the land is more fertile than a date on prom night!
For instance, the strawberries sold street-side in Ibarra look like freaks of nature (in a good way).
Overlooked by many Ecuador exporters, China, with 1.3 billion people and a raging need for raw materials and produce, should not be. A few observations:
I’ll be reporting on this in depth shortly from my site, but currently, wood is one of the top exports from Ecuador to China. For instance, Bamboo and Teak Wood are easily grown in Ecuador and highly sought after in China. Ecuador’s top exports also are in high demand in China… the Ecuador top 5 (besides oil) are Banana, Coffee (unprocessed), Cacao (unprocessed), shrimp, and tuna. I know several shrimp farmers on the coast who export. And yes, many Chinese are coffee drinkers.
Other hot Ecuador exports that could be farmed and do well in China are raw leather, rubber, plastic, alpaca and even flowers (particularly during the Chinese holidays, like Chinese New Year or Valentine’s Day where I see the Chinese have picked up the custom to give their loved ones flowers).
To begin exporting in Ecuador:
1. Go to the governmental website cae.gov.ec where you need to register as an exporter.
2. Go to the SRI office (like the IRS of Ecuador) and get a RUC number (like your tax ID number).
3. Get the needed certifications or authorizations depending on the product being exported. To find out which you may need contact Corpei, a public institute I like that helps exporters in Ecuador, or try a freight forwarder.
To find buyers for your products:
There are the more expensive, traditional ways of finding buyers like trade shows, but simply publishing on the internet is very effective in today’s world. Currently, Alibaba.com is the leading international trade site on the planet… and a great place to post your products and find importers. It also helps to have a simple website that can be found in Google. Or if you want to be a little more aggressive you could look in the Yellow pages online for importers in your sector and reach out to them.
The exporting process:
1. Buyer contacts seller (you!) and asks for a quote, you give it.
2. Buyer and seller agree to price, quantity and terms and seller sends a “proforma” which specifies terms of payment and shipping info.
3. Payment…usually a bank to bank transfer involving a letter of credit issued by the buyer’s bank…then ship!
Now, to find the perfect farm for you at the lowest price possible, you’re going to want to read my full Ecuador property hunting guide found here, it could literally save you thousands knowing how to property hunt like a local.
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Hey Dom, Is this a Good Deal?
I get a lot of questions like this one…
“Hey Dom, I saw this property X on the net, it seems like a really great deal but I don’t think I’ll get down to Ecuador in time to see it before I buy, what do you think?”
Never ever ever buy in a foreign country without seeing the place first! My 2 cents. I’ve seen to much shady stuff go on to opinion differently.
Also, like many who have ventured into internet dating can attest…it’s never as nice as the pictures!
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