It’s not unusual for Australian drivers to be on the lookout for an affordable import car, after which they will then look for an insurance company that can deliver a good quote. No-one would ever sign up for an insurance policy without first knowing all the numbers, and any good company will ensure that you know exactly what you are going to pay each month before asking you to sign on the dotted line. Oddly enough, this is the tactic that the government is playing right now with imported cars cover, as no-one seems to be aware how new regulations are going to affect the current numbers.
The regulations that are changing are the car import laws that restrict the flow of imported models making their way into the country. Those regulations are set to change in 2018, yet the government is holding off on releasing an independent analysis that claims to reveal how many cars will actually be entering the country from places like the UK and Japan. There is the belief that the results of the analysis do not put the government in a very good light, which is why it is being held back until after the election results are in.
The government has been trying to say that the relaxed grey import laws will result in a boost to the economy to the tune of $486 million, but there are plenty of people who believe that it is going to have an effect on domestic dealerships across the country. The government has countered that argument by suggesting that the imported car will still be sold in established dealer networks, and that those dealers will also be able to make more money via the supplying of parts and servicing of the vehicles.
The automakers themselves are a little concerned that the new regulations are going to have a negative impact on their industry, and they believe it is for that reason that the results of the analysis are still currently being withheld. Automakers are not even sure if a modelling on the impact to new car dealerships has been done, and if it has, they still have no idea as to who it was that conducted the research to put the model together in the first place. That is something that has an awful lot of people very nervous.
People involved in the new car industry claim that affordability is about as good as it gets right now, and they believe that an influx of imported cars is not really necessary. While this will all play out in time, the feeling is that consumers may hold off on buying new cars until they see where affordability levels go once the new regulations are in place. The one thing that we do know is that there will always be transparency when it comes time to insure your vehicle, imported or otherwise. Ask for a quote, and you will get one back in no time at all.