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As a citizen, I am allowed to bring 1 car in tax free every 10 years, but I cannot resell it within the first year of having it over there. Last month I went with my mother for her car inspection there, the odd thing is they don't seem to care too much about emissions as most of the cars are diesel, but the price of gas is definitely a factor as gas costs over $6 per gallon.
I can't speak to how it's implemented but I know it varies by country and the gas penalty tax can be quite significant to where you are located. Portugal is attached here but I'm not well versed in exact CO2 emissions materiality and the fees associated with it.
Portugal is :
Highest rates: petrol cars emitting more than 195g CO/km pay € [(185.91 x CO2) – 30,183.74]; diesel cars emitting more
than 160g pay € [(242.65 x CO2) – 30,235.96].
A 2018 5.0 V8 mustang has = Tons/yr of CO2 Emissions @ 15K mi/year : 7.6 (Est)
The thing Id be most concerned about is the availability of spare parts over there, so repair shops don't have to order and import parts from the USA. You can only do this once every ten years, and things will need to be replaced.
You don't need a car in Europe. Majority of Europeans do not have to drive.
My home there is in a small town of under 2,000 and it does not have any public transit operating on weekends. Most of the shopping can be done in town, but the nearest supermarket and large stores are around 10km away. The beach is another place that is only reachable by car and is 75km away. When I am there I do take the train to go to Lisbon or Porto, but even that is a 30km drive away.
I'd buy a Mustang GT, bring it over there and sell it for more than what you paid.
I have coworkers from Malaysia that come to the US and gawk over them because apparently there they sell for $80-100K USD there
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