Automobiles have become a popular and convenient means of transportation that many people love to use. Today, we will guide you through the procedures for buying and selling used cars according to the latest regulations in 2022.
1 Documents needed for buying and selling used cars
Documents needed for buying and selling used cars
In addition to the necessary money and fees, to ensure a smooth process of buying and selling used cars and avoid any troubles, both the buyer and the seller need to prepare the following documents:
- Buyer: Identity Card or Citizen Identification Card; Household Registration Book.
- Seller: Identity Card or Citizen Identification Card; Household Registration Book (it is recommended to have additional documents such as a certificate of marital status or marriage registration to prevent civil disputes after the completion of the transaction); Vehicle Registration Certificate; Vehicle Inspection Number; Vehicle Insurance (if any).
Additionally, there should be a sales contract signed and notarized by both parties.
For further reference:
2 Types of fees to be paid when buying and selling used cars
As of now, in addition to the car price, the buyer of a used car also needs to prepare the following types of fees:
Types of fees to be paid when buying and selling used cars
- Registration fee: Calculated using the formula “2% x Listed Price x Residual Value of the car” (where the residual value of the car is determined as a percentage and depends on the age of the vehicle).
- Fee for changing the license plate number: If the change is made within the same province, the fee for a new license plate is 150,000 VND. However, if it is changed to a different province, the fee will vary depending on the location of purchase: 20,000,000 VND in Hanoi, 11,000,000 VND in Ho Chi Minh City; 1,000,000 VND in towns and cities, and 200,000 VND in other areas.
- Inspection fee: 340,000 VND/time for used cars with less than 10 seats (including pickup trucks).
- Road maintenance fee: 130,000 VND/month for vehicles with a capacity of 10 people or less.
- Compulsory Civil Liability Insurance: 480,700 VND/year for non-commercial vehicles with a capacity of 6 people or less.
3 Procedures for buying and selling used cars
Procedures for buying and selling used cars in the same province
The procedures for buying and selling used cars in the same province will be carried out at the Traffic Police Department of the provincial-level Public Security, following these steps:
After these procedures, the buyer will receive a new license plate number after the vehicle registration authority verifies the legitimacy of the submitted documents. The new vehicle registration certificate will be issued within 2 working days from the date of receiving the documents.
For further reference: according to the regulations that you need to know
Procedures for buying and selling used cars in different provinces
In the case of buying and selling used cars in different provinces, the seller does not have to pay any fees. They will be provided with a set of documents for the transfer of ownership and vehicle relocation. The following steps should then be taken:
Procedures for buying and selling used cars in different provinces
On the buyer’s side, the following procedures should be carried out at the destination province:
For further reference:
4 Frequently Asked Questions when buying and selling used cars
Can I buy a used car without transferring the ownership?
Not transferring the ownership when buying a used car can lead to penalties
Transferring the ownership when buying a used car is mandatory. If one uses a used car without transferring the ownership, they may be subject to a fine ranging from 2,000,000 to 4,000,000 VND for individuals or 4,000,000 to 8,000,000 VND for organizations.
Can a power of attorney be used to transfer the ownership of a car?
A power of attorney cannot be used to transfer the ownership of a car
Since a power of attorney clearly states that “the authorized person can only own the vehicle after completing the registration and ownership transfer procedures”, it cannot be used for transferring the ownership. Additionally, until the registration is completed, the buyer is not allowed to sell the vehicle to another person.
Where should I submit the documents for vehicle registration?
Submit documents for vehicle registration at the office of the Traffic Police Department of the provincial-level Public Security
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