6 useful tips for the buyer and the seller of a used car
Buying a used car is a pretty complex business which requires paying attention to a lot of details. We explored this topic from the aspect of vehicle’s visual appearance and functionality in our video tutorials. This article focuses on another important aspect, i.e. the things we usually forget or are not even aware of in completing the buying (or selling) process.
Don’t forget to compare all the data about the vehicle and the owner’s registration and ID card with the data provided in the vehicle sales contract. In case the seller is not the owner of the vehicle, but an authorized person, make sure they are able to provide their ID card and the original authorization document, stamped and registered at the public notary office.
Legal status of the vehicle
Check if the contract contains a statement saying that the vehicle is not alienated or under finance. In case of an unsettled debt you could have your car taken away. The legal status of the vehicle can be checked in the Registry of pledges on the Business Register Agency website.
The seller should inspect the validity of the money right after having it received. It would be best to go to an exchange office together with the buyer or leave the job to an intermediary vehicle registration agency. Make sure there is a statement in the contract specifying that the seller has received the agreed amount of money.
Takeover and the state of the vehicle
The seller is obliged to hand over the registration license, insurance policy, the key and the spare key. If the buyer takes the vehicle right away, the seller should state in the contract that the vehicle is handed over in the same condition as when the buyer saw it the last time and to list what items were handed over to the buyer. If the takeover of the vehicle is postponed for any reason, it is necessary to add a statement that until takeover, the seller is responsible for any damage to the car.
After signing the contract, you have 15 days to pay the tax on transfer of rights to use the vehicle in the tax administration office located in the municipality of the seller. The tax is 2,5% of the vehicle’s value as listed in the AMSS catalogue, or 2,5% of the value stated in the contract, but only if it’s higher than the price listed in the catalogue. Therefore, pay attention if the value of the vehicle stated in the contract is higher than the value listed in the catalogue, having in mind that the higher value will be taken as the basis for taxation.
Exit declaration paper
If you are buying a vehicle from a foreign country, along with all the other papers you will need, make sure you secure an exit declaration paper that guarantees the vehicle was exported from the country of origin and that it’s no longer in possession of anyone from that country. This is especially important because the foreign owner could report theft after a while, causing you thus a lot of trouble.
We hope you found these pieces of advice useful. We’d love to hear your thoughts and experiences as they help us improve the content we create for you. Therefore, feel free to contact us through our website, official YouTube channel or our Facebook page.