Used Car Purchase

I finally found one article about this.  It's from 2015 so very possibly outdated now.  Sounds like a 2 percent fee.

http://www.atexpats.com/magazine/370-bu … d-car.html

Also Vietnamese ask crazy prices for secondhand items... especially for cars..

Wald0 wrote:

Also Vietnamese ask crazy prices for secondhand items... especially for cars..

Well, eventually they have to get realistic if they actually want to sell it, right?  Or is part of the "I paid xxx,xxx for it and I'm not taking a loss so it can rot here before I lose money on it." thing.

And I also can't remember what benign thing I typed in post 2 to get labeled as a stupid spammer.  I think it said a 2% fee.

LOL all that I typed is the digit for a number two and the percent sign.  The bot says I am a spammer.  Funny stuff.

Cars in VN cost 3x or more as the same car in the US. It's all due to tariffs and taxes imposed on the cars. That's also why the used car market is strong. You'll probably pay the same price for a 2012 car in VN as you would pay for the similar new version in the US. It's probably also a way to limit the number of cars on the small street with the millions of scooters. Also there are nowhere to park on the street and a lot of homes are in tiny little alleys so chaos could erupt if more cars are on the street.

.
       I think that's why we see so many Bentleys, RRs, + BMWs in the Old Quarter
   of Ha Noi.    Too much money..?     
.

Hi. I just heard foreigners are NOT allowed to buy a used car. Anyone knows? I have a 2y temporary residency card work permit and thinking of buying a used car. Don't tell me to buy a motorbike please, my question is not about that. Thank you

danrodri wrote:

Hi. I just heard foreigners are NOT allowed to buy a used car. Anyone knows? I have a 2y temporary residency card work permit and thinking of buying a used car. Don't tell me to buy a motorbike please, my question is not about that. Thank you

You may want to review what you were told or read. You cant own a vehicle in your name unless you want it to have NN plates. You can buy a secondhand car, but it wont be in your name.

Hi danrodri,

As colin said
What price point are you thinking of? if you have not driven in HCMC before just know that a car is a bodyshop magnet so take that into consideration.

Maybe hire first see how you go as traffic ramps up, also its much easier out of HCMC where you only have oncoming motorbikes, trucks and buses to worry about 

colinoscapee wrote:

danrodri wrote:

Hi. I just heard foreigners are NOT allowed to buy a used car. Anyone knows? I have a 2y temporary residency card work permit and thinking of buying a used car. Don't tell me to buy a motorbike please, my question is not about that. Thank you

You may want to review what you were told or read. You cant own a vehicle in your name unless you want it to have NN plates. You can buy a secondhand car, but it wont be in your name.

NN plates?

Jlgarbutt wrote:

colinoscapee wrote:

danrodri wrote:

Hi. I just heard foreigners are NOT allowed to buy a used car. Anyone knows? I have a 2y temporary residency card work permit and thinking of buying a used car. Don't tell me to buy a motorbike please, my question is not about that. Thank you

You may want to review what you were told or read. You cant own a vehicle in your name unless you want it to have NN plates. You can buy a secondhand car, but it wont be in your name.

NN plates?

NN (nước ngoài)    Foreigners without diplomatic status (google is your friend)

Andybris2020 wrote:

NN (nước ngoài)    Foreigners without diplomatic status (google is your friend)

Otherwise known as "coffee money magnets".  I would personally never own a NN plated vehicle.

Boy, I was sure clueless when I was posting a couple of years ago!  (OP) You learn a lot in a couple of years.

Tax and duties for brand new car is straightforward, so I reckon old and used cars are more worthy to talk about.

As a person who had bought both used car from individuals and car dealers.
Simply enough, the taxes, and duties vary in accordance with the contractual prices.

Regardless, a contractual agreement / purchasing contract is mandated by law and notarised by licensed professionals; the price is self-declared by owners.

The problem is there is no standard threshold to stop the owners from undeclaring the prices.
Of course, the excessive amount would be settled by cash.

The conveyance fee is 2% on contractual price. Thus, most owners try to contract the prices much more lower than actual prices.

Unless you purchased a used car from official dealers, the prices are always contracted and declared reasonable. Let alone dealer fees, accessories, stamp duty..., it's also the settlement amount.

I don't think there is any further tax applied to used car because the first owners bear all.

In my opinion, the used cars in Vietnam are normally overstated as well as the new car. And it's rarely a good deal./.

As I have understood, I can buy an used car in Vietnam if a  Vietnamese friend register it at her name? Eventually I can drive it after? What about taxes and VAT? Shall I pay it?

Careful about putting high price items under a friend's name. My dad bought 2 houses decades ago but he was no longer a Vietnamese citizen so he put the houses under his best friend's name. Years later when the houses appreciated in price, he wanted to sell one of the house. His friend wanted 25% of the selling price and my dad agreed to the percentage. Then when he wanted to sell the second house, his friend wanted 50% of the selling price. He ended up fighting it in court for many years.

Careful about putting high price items under a friend's name. My dad bought 2 houses decades ago but he was no longer a Vietnamese citizen so he put the houses under his best friend's name. Years later when the houses appreciated in price, he wanted to sell one of the house. His friend wanted 25% of the selling price and my dad agreed to the percentage. Then when he wanted to sell the second house, his friend wanted 50% of the selling price. He ended up fighting it in court for many years.
-@qnbui

Unfortunately with the discrimination against non-vietnamese you have no choice but to register the car in a VN name. Im still at a loss as to why a non-vietnamese can't have a vehicle in their name without jumping through hoops.

As I have understood, I can buy an used car in Vietnam if a Vietnamese friend register it at her name? Eventually I can drive it after? What about taxes and VAT? Shall I pay it?
-@Joss15

Hi,

As long as you have a car licence from your home country and a visa/TRC/VEC valid for 3 months+ you can convert your car licence & get a VN licence and drive the car, there are taxes etc due when the change of ownership calculated on a discount of original tax price for each year of the vehicle. ( when I can find the link for the tax info I'll post it for you  more info here )

Hanoi and Ho Chi Minh City are two big cities with registration fees often higher than other provinces and cities.  see the 2 links I posted. Beware buying a car out of the city cheap and then getting hit for the fees for the plates etc.

NOTE: I think the "13 years" is actually 1-3 years

@colinoscapee I would say discrimination against foreigners exist not particularly in VIE. It just comes in different sizes and shapes.

Taking Australia as an example where a developed, and rigorous law system has been built and corrected for years.

When it comes to less significant asset like bikes, cars, boats... no difference between citizens and foreigners.

Things changed rapidly with house, and land. Foreigners have to jump through loops as well, and basically large sum to be paid in terms of stamp duty, and no financial support like other local home buyers.

In my opinion, I wouldn't suggest foreigner in VIE purchase valuable asset like house, land, and even vehicles. Sad but true, you would instantly regret letting someone hold the title of asset that you paid for.

In general, nobody actually own a thing in the country. For example, you hold the use right, not the land itself.

Cheers,

@colinoscapee I would say discrimination against foreigners exist not particularly in VIE. It just comes in different sizes and shapes.
Taking Australia as an example where a developed, and rigorous law system has been built and corrected for years.
When it comes to less significant asset like bikes, cars, boats... no difference between citizens and foreigners.
Things changed rapidly with house, and land. Foreigners have to jump through loops as well, and basically large sum to be paid in terms of stamp duty, and no financial support like other local home buyers.
In my opinion, I wouldn't suggest foreigner in VIE purchase valuable asset like house, land, and even vehicles. Sad but true, you would instantly regret letting someone hold the title of asset that you paid for.
In general, nobody actually own a thing in the country. For example, you hold the use right, not the land itself.
Cheers,
-@haiphinguyen

I was referring to a very simple thing such as vehicle ownership. You have taken it to a different level which we are not talking about. Try and stay on subject.

Only locals can own cars, exception is NN plate. The registration card must show a citizen's name only. As for driving it, you can change to a VN license provided  you have home country valid license. That permission  to drive is between owner and driver. Likewise who pays for 2 years license fee and checkup fees..The used car deal between current/new owner in the form of a contract (standard format) must be notarised by a Notary Public..for validity..

@qnbui definitely erupted now 2023

Cars in VN cost 3x or more as the same car in the US. It's all due to tariffs and taxes imposed on the cars. That's also why the used car market is strong. You'll probably pay the same price for a 2012 car in VN as you would pay for the similar new version in the US. It's probably also a way to limit the number of cars on the small street with the millions of scooters. Also there are nowhere to park on the street and a lot of homes are in tiny little alleys so chaos could erupt if more cars are on the street. -@qnbui

@qnbui definitely erupted now 2023 -@Mark Waldron

hey mark. you are replying to a post from 2019. please use the quote function. otherwise we can't understand your comment in context. thanks