Colombo Auto Imports
Import Process
Thank you for choosing Colombo Auto Imports (Pvt) Ltd as your trusted partner in importing your dream vehicle. We truly appreciate your confidence in us, and we are committed to making your vehicle import experience smooth, transparent, and hassle-free. To help you understand the process better, we’ve outlined a clear 10-step guide below. This will walk you through the entire vehicle import journey, from selecting the vehicle to receiving it at your doorstep.
1
Understanding Your Requirements & Budget
We begin by having a detailed discussion with you about your vehicle preferences and your maximum budget. Based on your budget, we’ll recommend suitable vehicle options, considering factors like model, year, and available packages. We’ll also provide a detailed cost estimate in LKR, calculated using current auction prices and a buffer to account for any adverse exchange rate fluctuations. Unlike others, we avoid quoting unrealistic low estimates just to secure your advance. Our estimates are transparent and accurate, and we ensure your total cost will not exceed the quoted amount unless there is a major shift in exchange rates or government policies.
2
Breakdown of Total Cost in LKR
Your total cost will include the following components:
● CIF Value – The cost of the vehicle including freight and insurance, up to Sri Lanka (before customs).
● Estimated Duties & Taxes – Subject to change depending on government policy and currency rates.
● Bank Documentation Charges – Approx. Rs. 100,000.
● Clearing Charges – Fee for customs clearance, approx. Rs. 60,000.
3
Refundable Auction Deposit
Once you’re satisfied with the estimate and ready to proceed, we’ll request a refundable auction deposit of LKR 500,000 to start the bidding process. Once paid, we issue a receipt as proof. If you decide not to proceed before we purchase the vehicle, the deposit is 100% refundable, and we process refunds within the next business day.
4
Bidding at Auction
We start the bidding process within two business days of receiving your deposit. The day before each auction, we’ll send you:
● Photos of the available vehicles
● Auction sheets
● Updated cost estimates in LKR
With your approval on the maximum CIF, we’ll place bids accordingly. Our team will guide you on setting a competitive bid. If your price is right, there's a high chance you’ll win on the first attempt!
5
Proforma Invoice & Balance Payment
Once your bid is successful, we’ll issue a Proforma Invoice for the total CIF value. Your initial deposit will be deducted, and the invoice will reflect the remaining balance to be paid.
6
Opening the Letter of Credit (LC)
Next, you’ll need to open an LC through your preferred bank. To do this, you’ll need:
● The Proforma Invoice
● A Permanent TIN Certificate If you don’t already have a TIN, we highly recommend applying for one early to avoid delays. Once the LC is opened, we begin the shipping process.
7
Shipping the Vehicle
Shipping usually takes around 4 weeks from the date of purchase. However, we aim to secure the earliest shipping slot to ensure faster delivery to Sri Lanka.
8
Preparation for Customs Clearance
About 2 weeks after the auction, once the unit is shipped, our Clearing Agent will contact you to help you prepare for customs clearance. They’ll request necessary documents, including your TIN certificate, and guide you through the entire process to ensure a smooth experience.
9
Document Handling & Duty Payment
All relevant documents for clearance will be sent to your bank and may take a few days to arrive after the vehicle reaches the port. Once the unit arrives in Hambantota, our Clearing Agent will collect documents from you and the bank and proceed with duty payments on your behalf.
10
Vehicle Delivery
After duties are paid, our Clearing Agent will collect the vehicle from Hambantota. You may:
● Collect it in person, or
● Request doorstep delivery—we’ll handle it for you!