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Buying a car (part 2) 

 

Following on from last issue´s article we now advise what to do next.

Once you have cleared the Finanace or reserva hurdle, you must also check that the paperwork is in order so that the car can be transferred into your name, although it’s a good idea to do the two processes at the same time.

For this the car must have a “Ficha Técnica” what is commonly known as a green card. This is the document that shows all the technical details for the car and also shows if it has a current ITV, this is shown on the reverse. It must also have a “Permiso de circulación”, (the cars permission to be legally on the public highway), Road taxes must also be up to date as the Town Halls now advise Tráfico of any outstanding Rodaje (road taxes) and basically a block is put on the car to stop any transfer being completed until the said town hall has had its money.

Once you have agreed the sale you would need to sign three documents (possibly four if a third party is carrying out the transfer on your behalf). The first would be a Compra-venta (sale-purchase agreement), which needs to be signed by both the seller and purchaser and is normally dated and sometimes timed (this is highly recommended). The second would be a modelo 620 which will show both the seller and purchasers personal details, along with the technical details of the car and the official valuation along with the tax payable. The third would be a solicitud de transmisión de vehículo (a Tráfico transfer application form). If the transfer is being carried out on your behalf then you would also need to sign an official authorization form.

You should receive from the seller (if it is an individual), either a photocopy of their passport and NIE/Green Residencia or their DNI / Residencia (the card type with the picture on it), and the receipt for the current years road taxes (impuesto de rodaje). If the seller is a company you would need a copy of their CIF and a copy of the documentation (as mentioned above) of the administrator of the company who is legally permitted to sign on the companies behalf and they will also need to sign a Modelo de acreditación de identidad para personas jurídicas. In either case they must sign a Compra-venta (sale-purchase agreement) and a Solicitud de Transmisión de Vehículo (a Tráfico transfer application form). If you are buying from a registered car sales showroom or garage you should receive an invoice (factura) and a justificante or similar document, if they are carrying the transfer out on your behalf.

The transfer costs payable are 52,20€  for Tráfico plus 5.5% of the official valuation for Hacienda (tax office), if the car is under ten years old if older set amounts of 40,70 or 115 euros are due and are determined by the engine size up to 2 litres , thereafter it reverts to the  5.5% of the official valuation. If the transfer is being carried out on your behalf an administration cost will be made. Who pays this is negotiable but it must be made clear at the time of sale/purchase.

If you have any questions please email me on emma@motorworldtenerife.com