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Dec 22, 2009, 4:31am

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Message Board :: Overland Preparation :: Carnet :: Our Carnet Details
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AuthorTopic: Our Carnet Details (Read 135 times)
Ollie
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Our Carnet Details
« Thread Started on Feb 25, 2009, 9:31pm »		[Quote]
A Carnet for those who haven't heard of it is a bit like a passport for your vehicle, but it acts as insurance that you are not going to sell your car in the country that you enter, and avoid import tax.

Because of this a Carnet must be backed up with some sort of financial guarantee. You can read much more about Cornets on the RAC website http://www.rac.co.uk/web/know-how/going-....de-passages.htm

There used to be other options to get your Carnet from other foreign versions of the RAC but this is not as easy as it was.

Via the RAC you have options to make your guarantee by a deposit, by paying for insurance, or by a bank guarantee. We have chosen the later as it worked out cheaper for us.

The amount of money that must be used as cover is related to the value of your vehicle, multiplied by a percentage related to the countries you are visiting. Egypt is the worst offender (these these do change so always check on the RAC website) at 800% the price of you vehicle. It is only one multiple that is used, the highest of the countries that you are visiting, and ours is 500% for India and Pakistan.

Dino's price on his previous Carnet was £1000, so we have continued to use that. The price used by the RAC is the price of the base vehicle, and not all the add ons that you have (such as roof tent etc). Hence we have to have a bank guarantee of £5000, which Nat West are providing for us. If you need to arrange, the phone number of the correct department (who have actually heard of Carnets) is 01132903313. These guys are ultra helpful and well worth the call
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Ollie
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Re: Our Carnet Details
« Reply #1 on Mar 26, 2009, 9:24am »		[Quote]
Well we now have an update. Although the Loans and Guarantees department at Nat West (well RBS) were as helpful as could be, and actively chased up my request, unfortunately the application has to go to your local branch for sign off, and mine is Penzance, which obviously could not cope with this.

After 5 weeks and a formal complaint (instigated at the request of the Loans and Guarantees dept), they still did not have the paperwork back to me, having lost it once and sat on it fr a week everytime it came back to them. In the end, with the dramatic fall in interest rates it became practical to leave a deposit with RAC, so we will be depositing £7500, the extra £2500 being something to do with our entry into Australia.

So big up the Loans and Guarantees department at RBS but a big boo to the Penzance branch of Nat West.

Still ended up costing about the same in all likelihood :)
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