If you have been watching the value of the US dollar against the British pound, and against the other major European currencies, you have probably observed the relevant strength of the dollar. A number of my legal clients have made that observation, and this situation, coupled with their own particular racing/investment agenda, has motivated them to purchase racecars overseas.
These transactions can be interesting and rewarding when they are successful. Constructing these deals requires understanding of the process and the differences between strictly US deals and deals in a particular foreign country. It requires close attention to each step of the process. Since each deal is different, this article is not intended as a do-it-yourself guide or a model to apply to a particular deal. In all deals, it is recommended that the buyer engage professional assistance.
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