THE growth in luxury sports cars could be further fuelled this year by a new source - imported used models.

Some high-end models such as the Porsche 911 can cost substantially less when imported as a used model. For example, a two or three-year specimen may be priced at slightly more than a new Cayman S, which is positioned below the 911.

In some cases, this may be more cost-efficient than a locally sourced pre-owned 911 while, at the same time, be more attractive because of the lower mileage.

Other examples include the Mercedes-Benz E55 AMG, which has a list price of over $400,000 here but should fall neatly into the $300,000-plus range when imported as a two-year-old car.

'The imported luxury sports car is definitely a viable alternative as the cars offered are usually in immaculate condition,' says one dealer. 'This is because we only choose the best cars to bring into Singapore.'

It is estimated that between 30 and 50 of these cars are sold here each month.

Imported used cars got a major boost in September last year when the Land Transport Authority allowed such vehicles to be eligible for the Parf benefit. Parf is the preferential additional registration fee and the owner claims the benefit when the car is deregistered.

Previously, imported used cars were not entitled to this scrap rebate. However, they must still satisfy other requirements before they can be registered here, such as being under three years old and having a used car surcharge of $10,000 imposed on top of the usual registration taxes.

This article was first published in The Business Times on Apr 16, 2008.