Whether you’re new to the island or are keen to move here with a brand new vehicle, there are – sadly – all kinds of costs and fees you’ll need to keep in mind. Unfortunately, just like anywhere in the world, car prices are rising in Grenada – meaning you need to start thinking smart about how to get some genuinely affordable deals.
Let’s break down some of the major costs you can expect from setting up a car in Grenada, and where you can turn to for the best prices (major hint – it’s our sellers!).
What’s making car prices so expensive in Grenada?
For one thing, living, working, and driving in Grenada is highly desirable – meaning you can always expect to pay something of a premium for the privilege.
However, before you start looking at the cost of cars, bikes, and vans outright, you need to think about tax. There’s a general 5% tax rate that applies on vehicles between 1201cc and 2000cc, with anything above that engine size demanding a higher rate.
There are also licensing and inspection fees to consider, alongside VAT. And, if you thought it’d work out cheaper for you to import cars and other vehicles over to the island – think again.
Unfortunately, anyone importing vehicles into Grenada will need to consider a 15% VAT levy, along with an environmental charge of $2,000, and customs sitting at 6%. This is all subject to increase, too.
Yes – there are some reliefs you can opt into if you’re a returning resident, but you’ll need to have been away from Grenada for at least seven years consecutively, and don’t intend to move again.
Those are some pretty eyebrow-raising rates and rules – meaning you’d be forgiven for thinking buying and running a car in Grenada simply isn’t worth the money.
Not so! Have you seen some of the fantastic views and drives around the island? We personally think investing in a vehicle here is worth every penny – but, it’s perfectly understandable that you want to save your hard-earned cash and to make it travel as far as possible.
So, how do you find the best deals?
Be willing to try second-hand vehicles
One of the absolute cheapest ways to invest in and run a car in Grenada is to lean away from brand new motors and to research second-hand options. You could start, for example, by checking out car lots across the island, comparing prices, and getting professional advice.
That said, if you do choose to explore Grenada’s second-hand car lots, it’s always a good idea to keep an open mind. For example, always be ready to ask questions about previous owners, to check mileage, and to see that the logbook and all crucial maintenance and repair details are present and correct.
What you might find when you look around second-hand lots is that there are some fantastic deals that appear too good to be true. If it seems like that’s the case, be prepared to ask questions and trust your instincts!
It’s even easier when you look online
If you really can’t bear the thought of having to pore through details with second-hand dealers, don’t worry. At Island Motors, we aim to make finding and buying pre-driven cars as simple as possible. What’s more, we ensure that all our sellers include the details you’re looking for so that you can make a confident purchase.
By comparing different makes, vehicles, and sellers through our online marketplace, you could save yourself serious money you’d otherwise waste on import fees. Simply find a car that suits your needs and you could be driving away within a matter of days – meaning you’re ready to start exploring the island on four wheels as you’d always imagined.
Don’t get us wrong – it’s always nice to be able to drive a new vehicle away and to start a car off at the very beginning of its mileage. However, given the economy, many people are choosing to buy second-hand – and that’s not only a big cash saving, it’s also economical from a recycling standpoint.
Getting the best deals isn’t always easy, and that’s one of the main reasons why Island Motors exists at all! We want you to find the perfect vehicle for your journeys around Grenada – without having to break out the calculator for all kinds of import fees and levies.
Take a look around Island Motors now and see what you can find – you never know, your dream car might just be a few clicks or taps away!
Further reading
https://islandmotors.com/blog/car-tax-on-new-vehicles-in-grenada-what-you-need-to-know/