When importing a used car from Japan, you will encounter two common pricing terms: FOB and CIF. Understanding the difference between these terms is essential for comparing prices and budgeting for your vehicle import.
What is FOB Price?
FOB stands for Free on Board. This is the price of the vehicle plus all costs to get it onto the ship in Japan, including the vehicle purchase price, auction fees, transport to port, export documentation, and customs clearance in Japan. FOB does not include shipping, insurance, or any costs at the destination port.
What is CIF Price?
CIF stands for Cost, Insurance, and Freight. This includes the FOB price plus the cost of shipping to your destination port, marine insurance during transit, and freight charges. CIF gives you a more complete picture of the total cost to get the vehicle to your port, but does not include destination port charges, customs duties, or registration costs.
Which Should You Use?
FOB pricing is useful for comparing vehicle prices across different exporters, as it represents the base cost of the vehicle. CIF pricing is useful for budgeting, as it includes shipping and insurance. We recommend getting both FOB and CIF quotes so you can compare the total landed cost.
Additional Costs to Consider
Beyond FOB and CIF, you should also budget for destination port charges (port handling, documentation fees), customs import duties and taxes (varies by country), inspection fees if required by your country, and registration and compliance costs. These costs can add significantly to the total price, so research them before purchasing.
How HR Trading Quotes
We provide transparent FOB pricing on all our stock vehicles. On request, we can also provide CIF quotes that include shipping and insurance to your nearest port. Our team can help you estimate the total landed cost including destination charges and duties, so you know exactly what to expect.
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