iStock/Gaschwald

 

The fogs of Brexit have yet to clear - which could mean a lot of things to many aspects of our lives.

 

One of those aspects relates to buying cars from the European Union. At present, you are allowed to buy and import a car - second hand or otherwise - from any EU country and pay absolutely zero in tax. The only proviso is that you inform the HMRC soon after you park up your new motor.

 

What will I pay after March 29?

If Brexit day occurs, as planned and without a deal in place, then the UK will revert to World Trade Organisation rules, which in short means you'll pay 10% import tariff - together with 20% VAT.

 

At time of writing, you can pick up a used BMW M5 in Germany for £12,000. If you buy it from March 29 onwards, however, that same car will cost you £15,600.

 

Of course, there are far more interesting cars to consider than an M5. Think Borgwards, Fiskers and Lancia Deltas. Most second hand cars have already gone through the worst of their depreciation and some little gems may even be appreciating in value.

 

Naturally, you will have to deal with the driver's seat being on the left hand side, but that's a small price to pay to avoid a larger price to pay - namely import duty and VAT.

 

Among the most popular used car portals on the continent are autoscout24.com and mobile.de, on which you can also pick up motorcycles, campervans and trucks.

 

The clock is ticking...