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Brexit has to be a topic

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  • 15-08-2018 8:42am
    #1
    listermint
    Registered Users Posts: 33,981 ✭✭✭✭


    So with the more and more likely advent of Brexit, What will be the impact on Insurance providers, such as Principle in the market here in Ireland.

    Are we going to lose insurers left right and centre in a tiny pool of Motorcycle friendly insurers ?


Comments

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    #2
    Lumen
    Registered Users Posts: 31,087 ✭✭✭✭Lumen


    The close economic integration of UK & Ireland is mostly a matter of inertia, certainly w.r.t services.

    This is the final cutting of the apron strings.

    I'd expect EU companies to fill the gap a if and when there is any real trade barrier in place. That's a big if though, the can kicking may go on forever.

    Not sure there is much of a first mover advantage, so they're probably sitting on their hands waiting for the market to open up.


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    #3
    Emmersonn
    Banned (with Prison Access) Posts: 1,128 ✭✭✭Emmersonn


    If our insurance companies follow form as they have for the last number of years, Brexit, when it happens will just give them another excuse to screw us. Our goverment will neither care or act to prevent this as the higher the insurance premium which we pay will result in a higher take for them and this also includes every type of insurance bor alone motor insurance.


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    #4
    Del2005
    Registered Users Posts: 18,994 ✭✭✭✭Del2005


    Any UK company currently trading in the EU will set up a European office and still trade the same. Any UK company not trading in the EU won't charge.

    Our insurance, and banking, market is crap because of purely Irish issues and not international. Do you not think that companies would be rushing into a market charging the highest insurance, and variable mortgage, rates in the EU if it was functioning correctly?

    Edit...
    The only impact of Brexit will be VAT and duty on imports. When we have to pay the VAT is the question.


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    #5
    galwaytt
    Registered Users Posts: 12,776 ✭✭✭✭galwaytt


    Del2005 wrote: »
    Any UK company currently trading in the EU will set up a European office and still trade the same. Any UK company not trading in the EU won't charge.

    Our insurance, and banking, market is crap because of purely Irish issues and not international. Do you not think that companies would be rushing into a market charging the highest insurance, and variable mortgage, rates in the EU if it was functioning correctly?

    Edit...
    The only impact of Brexit will be VAT and duty on imports. When we have to pay the VAT is the question.


    Indeed, the car industry is in for a change for the same reasons too: you'll have Customs Duty, VRT and possibly VAT on imports. This can only make everything more expensive.

    The fact that many of the car importers here are actually tied to importers in the UK may mean some 'untying' is going to have to happen as well.

    Ode To The Motorist

    “And my existence, while grotesque and incomprehensible to you, generates funds to the exchequer. You don't want to acknowledge that as truth because, deep down in places you don't talk about at the Green Party, you want me on that road, you need me on that road. We use words like freedom, enjoyment, sport and community. We use these words as the backbone of a life spent instilling those values in our families and loved ones. You use them as a punch line. I have neither the time nor the inclination to explain myself to a man who rises and sleeps under the tax revenue and the very freedom to spend it that I provide, and then questions the manner in which I provide it. I would rather you just said "thank you" and went on your way. Otherwise I suggest you pick up a bus pass and get the ********* ********* off the road” 



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    #6
    D3V!L
    Registered Users Posts: 2,953 ✭✭✭D3V!L


    What'll happen with importing a bike from NI ?. I have a preference for a couple of shops up there over their Dublin counterparts.


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    #7
    Hotblack Desiato
    Registered Users Posts: 35,072 ✭✭✭✭Hotblack Desiato


    Maybe I'm wrong to think this but it's really putting me off considering another Triumph as my next bike.

    © 1982 Sinclair Research Ltd



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    #8
    BaronVon
    Registered Users Posts: 1,647 ✭✭✭BaronVon


    D3V!L wrote: »
    What'll happen with importing a bike from NI ?. I have a preference for a couple of shops up there over their Dublin counterparts.

    With a soft Brexit, VAT at 25% (Similar to a US import). With a hard Brexit, VAT at 40%. Both of these on top of VRT.


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    #9
    listermint
    Registered Users Posts: 33,981 ✭✭✭✭listermint


    Hotblack Desiato wrote: »
    Maybe I'm wrong to think this but it's really putting me off considering another Triumph as my next bike.

    Youd have to consider servicing options certainly it would be prudent.

    This brexit should it go through. And I think we can all hope it doesn't but plan it does, will turn everything upside down things which we take for granted.


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    #10
    two wheels good
    Registered Users Posts: 1,996 ✭✭✭two wheels good


    The motor industry in Ireland is an influential lobby - and they already import a lot of vehicles new and second-hand from the UK. If Sterling stays low they'll certainly want to continue importing.
    I don't think they'll roll over easily. Hopefully the motorcycle industry will be carried along in the wake of their efforts.

    I don't see that VAT will have to rise but excise duty may if new tariffs apply in a "no deal" brexit. Expect the large UK car plants to look for special exemptions if tariffs are applied.
    It could even be a good time to buy a Triumph before possible price rises. The skills to service them will always be available. But what about reliable warranty support?

    Who knows.
    Me? I'm hoarding tinned goods and lentils and putting a few chickens in the garden.


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    #11
    Hotblack Desiato
    Registered Users Posts: 35,072 ✭✭✭✭Hotblack Desiato


    As it is I wouldn't rely on any dealer or warranty for Triumph in the Republic, anyway.

    I was going to say that parts availability could get worse and prices get higher, but how much worse could it get than it already is :p

    © 1982 Sinclair Research Ltd



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    #12
    CJhaughey
    Registered Users Posts: 14,907 ✭✭✭✭CJhaughey


    You can also start to factor in the recent EU -Japan trade deal where the tariffs are going to start reducing for Japanese vehicles and Parts.
    It's over 8 years I think for Cars anyway but bikes might be a little different and Japanese parts should start to become cheaper.


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    #13
    listermint
    Registered Users Posts: 33,981 ✭✭✭✭listermint


    CJhaughey wrote: »
    You can also start to factor in the recent EU -Japan trade deal where the tariffs are going to start reducing for Japanese vehicles and Parts.
    It's over 8 years I think for Cars anyway but bikes might be a little different and Japanese parts should start to become cheaper.

    Maybe we can start getting the 0 per cent finance deals that Suzuki or Yamaha offer in the UK.....


    .... .. .


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    #14
    Hotblack Desiato
    Registered Users Posts: 35,072 ✭✭✭✭Hotblack Desiato


    Those deals are from the UK importer, nothiing to do with the manufacturer.

    Small country and bikes being so niche here, the economies of scale aren't there.

    © 1982 Sinclair Research Ltd



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    #15
    listermint
    Registered Users Posts: 33,981 ✭✭✭✭listermint


    Hotblack Desiato wrote: »
    Those deals are from the UK importer, nothiing to do with the manufacturer.

    Small country and bikes being so niche here, the economies of scale aren't there.

    In the EU they should be though shared currency market customs laws and market of hundreds of millions


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    #16
    galwaytt
    Registered Users Posts: 12,776 ✭✭✭✭galwaytt


    listermint wrote: »
    In the EU they should be though shared currency market customs laws and market of hundreds of millions

    ...yes but the UK won't be in the EU from shortly so it'll be moot then...

    Ode To The Motorist

    “And my existence, while grotesque and incomprehensible to you, generates funds to the exchequer. You don't want to acknowledge that as truth because, deep down in places you don't talk about at the Green Party, you want me on that road, you need me on that road. We use words like freedom, enjoyment, sport and community. We use these words as the backbone of a life spent instilling those values in our families and loved ones. You use them as a punch line. I have neither the time nor the inclination to explain myself to a man who rises and sleeps under the tax revenue and the very freedom to spend it that I provide, and then questions the manner in which I provide it. I would rather you just said "thank you" and went on your way. Otherwise I suggest you pick up a bus pass and get the ********* ********* off the road” 



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    #17
    Cian_ok
    Registered Users Posts: 140 ✭✭Cian_ok


    galwaytt wrote: »
    ...yes but the UK won't be in the EU from shortly so it'll be moot then...

    But the EU market for left-hand-drive bikes will be miniscule - just us, Cyprus and Malta.


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    #18
    Del2005
    Registered Users Posts: 18,994 ✭✭✭✭Del2005


    Cian_ok wrote: »
    But the EU market for left-hand-drive bikes will be miniscule - just us, Cyprus and Malta.

    If only we were left hand drive.


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    #19
    Hotblack Desiato
    Registered Users Posts: 35,072 ✭✭✭✭Hotblack Desiato


    listermint wrote: »
    In the EU they should be though shared currency market customs laws and market of hundreds of millions

    The big four don't have European-wide importers, they have national importers which is why we have gob****es like KDI (Kwak) and Two Wheels (Honda) and Danfay (Yamaha) and Priory (Suzuki), muppets who cream off a good percentage on the retail price of every officially imported bike but do less than fcuk all to support owners of these bikes when they have issues.

    Leeches.

    © 1982 Sinclair Research Ltd



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    #20
    CJhaughey
    Registered Users Posts: 14,907 ✭✭✭✭CJhaughey


    Hotblack Desiato wrote: »
    The big four don't have European-wide importers, they have national importers which is why we have gob****es like KDI (Kwak) and Two Wheels (Honda) and Danfay (Yamaha) and Priory (Suzuki), muppets who cream off a good percentage on the retail price of every officially imported bike but do less than fcuk all to support owners of these bikes when they have issues.

    Leeches.

    It's the same with Honda cars, the company that imports them here (Universal) is only a distributor, not a subsidiary like the UK.
    Exhaust manifolds cracked on some Diesel Honda's and they were replaced up t 7 years and 125k miles in the UK. Owners here were told to jump.
    Sunroofs rusting in others were the same UK owners were sorted under an extended warranty, here it was PFO.


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    #21
    galwaytt
    Registered Users Posts: 12,776 ✭✭✭✭galwaytt


    Del2005 wrote: »
    If only we were left hand drive.

    Our headlights are different to continental EU. ....they dip the other way.

    There again, JDM drive like us. But we'd have no access to EU held stock.

    Ode To The Motorist

    “And my existence, while grotesque and incomprehensible to you, generates funds to the exchequer. You don't want to acknowledge that as truth because, deep down in places you don't talk about at the Green Party, you want me on that road, you need me on that road. We use words like freedom, enjoyment, sport and community. We use these words as the backbone of a life spent instilling those values in our families and loved ones. You use them as a punch line. I have neither the time nor the inclination to explain myself to a man who rises and sleeps under the tax revenue and the very freedom to spend it that I provide, and then questions the manner in which I provide it. I would rather you just said "thank you" and went on your way. Otherwise I suggest you pick up a bus pass and get the ********* ********* off the road” 



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    #22
    Del2005
    Registered Users Posts: 18,994 ✭✭✭✭Del2005


    galwaytt wrote: »
    Our headlights are different to continental EU. ....they dip the other way.

    There again, JDM drive like us. But we'd have no access to EU held stock.

    If we had left hand drive we'd drive on the right side of the road so the headlights would dip correctly or just get rid of the flick, my car and bike both have flat dipped beam.

    JDM we have to pay duty on when importing, if we used the wrong side of the road we'd have the whole EU to buy from. But with the price of 2nd hand cars here cheaper than the continent the cars might go the other way.


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    #23
    galwaytt
    Registered Users Posts: 12,776 ✭✭✭✭galwaytt


    Del2005 wrote: »
    If we had left hand drive we'd drive on the right side of the road so the headlights would dip correctly or just get rid of the flick, my car and bike both have flat dipped beam.

    JDM we have to pay duty on when importing, if we used the wrong side of the road we'd have the whole EU to buy from. But with the price of 2nd hand cars here cheaper than the continent the cars might go the other way.

    The EU recently signed a trade agreement with Japan which should see Duty reduced or eliminated.

    My 03 car has a lever to flick the headlight from left-dip to right-dip. Useful.

    Ode To The Motorist

    “And my existence, while grotesque and incomprehensible to you, generates funds to the exchequer. You don't want to acknowledge that as truth because, deep down in places you don't talk about at the Green Party, you want me on that road, you need me on that road. We use words like freedom, enjoyment, sport and community. We use these words as the backbone of a life spent instilling those values in our families and loved ones. You use them as a punch line. I have neither the time nor the inclination to explain myself to a man who rises and sleeps under the tax revenue and the very freedom to spend it that I provide, and then questions the manner in which I provide it. I would rather you just said "thank you" and went on your way. Otherwise I suggest you pick up a bus pass and get the ********* ********* off the road” 



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