Requirements for Vehicle Transfer: Cost, Necessary Documents and MORE

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If you are currently thinking of selling the used vehicle, keep in mind that you need to know the Requirements for Vehicle Transfer in ColombiaHere we will show you how to do all the corresponding procedures and procedures so that everything ends in excellent terms.

It should be clear that selling the car is not the same as making the transfer. Because until the transfer or change of owner is not carried out, the seller will continue to appear as the owner of the vehicle and also responsible for the payment of taxes.

So it’s a very important alert make the Vehicle transfer As fast as you can.

Requirements for Vehicle Transfer

To carry out this transaction, certain requirements for vehicle handover, are the following:

  • The seller of the vehicle and the possible buyer, whether they are natural persons or with legal personality, both must be registered in the Single National Traffic Registry (RUNT).
  • Buyer and seller must present the identity document, if they are of legal age, minors present an identity card.
  • In the case of foreigners Have a valid immigration card or passport.
  • Both the seller of the vehicle and the buyer should not have pending traffic fines.
  • Form or application form for procedures of the National Automotive Registry.
  • The vehicle that is the object of the negotiation must be registered in the Compulsory Insurance for all vehicles (SOAT) and that it is also current.
  • The mechanical and technical revision of the vehicle must be updated and registered in the Unique National Traffic Registry (RUNT).
  • The payments corresponding to the management of transfer or processing rights must be made in advance.
  • Likewise, all the tax payments of the vehicle must be up to date in order to carry out the other payment procedures. They will be certified on the website of the Ministry of Finance.
  • Purchase-sale option contract, document that certifies the transfer of ownership rights of the vehicle, in accordance with current civil and commercial regulations.
  • If the owner of the vehicle is a legal person, you must attach a copy of the proof of existence and legal representative, no more than 30 days.
  • The procedures before the transit institutions can be carried out by a third party, this must be registered in the RUNT system and present the legal authorization or general or special power to carry out the procedure.

Documents required for the Consensual Declaration

In the negotiation that takes place in a vehicle transfer, is the Consensual Statement which is nothing more than the declared will, as its name indicates, to transfer ownership of the vehicle in question.

It is the document where the formalization of the sale or transfer of ownership of a used vehicle is reflected, before the competent authority.

Documents that must be presented to carry out the Consensual Statement:

  • Transfer Form full. If you have problems filling in, you can make the consultation at the SIM offices.
  • Make delivery of identity documents of the buyer and seller.
  • Present the document legally valid of buy and sell. It includes all the data of the transfer and the owner of the vehicle.
  • If the purchase is between natural persons and if the payment is not in cash, then the contract must have all the corresponding specifications, as a guarantee in case the buyer breaches the commitment made.
  • Make the disbursement for source retention. It is the payment that must be made in this particular for 1% of the value of the vehicle, according to the tax estimate that is established and depending on its characteristics.
  • Peace and Safe Document both the seller and the buyer. In the event that the transfer is of a vehicle for public use, the peace and safe document must be granted by the company. This document records the non-existence of debts to the State.
  • Present a copy of the payment of taxes, of the last 5 years, verified by the District Secretary of Finance.
  • You must have the pledge lifting document, if it was settled. Likewise, the transfer of the pledge guarantee, this is necessary only if the vehicle has a pledge.

How to Register for the Transfer of Property?

Within the Requirements for Vehicle Transfer, is the registration of the transfer or transfer of property rights to the vehicle.

To make the transfer effective, you have to go to the different headquarters of the Comprehensive Mobility Services (SIM). This can be done if you are in the city of Bogotá.

If it is located in another city, or if the vehicle was registered in another city, then you must make the arrangements at the site where the vehicle was registered.

Vehicle Transfer Cost

People are always interested in knowing how much a transaction costs them, and regarding the vehicle transfer In Colombia, it is also a question that is always present among the interested parties.

Currently for vehicles the cost for processing fees is $ 152,000, plus 1% of the withholding by the source on the commercial appraisal made to the vehicle.

Absolutely all management related to traffic must be registered in the RUNT. The cost of these RUNT rights ranges from $ 28,000 to $ 35,000.

It is important to remember that the person authorized to make the transfer is the owner, or also through a proxy.

Generally, in this type of negotiations the question is asked about Who should be the person who bears the costs of the transfer? Of course, the answer to this question is at the discretion of the interested parties, but the most acceptable and reasonable thing would be for them to mediate. The costs must be borne by both the seller and the buyer of the vehicle.

However, the payment related to the withholding of the source must be assumed by the seller of the vehicle, since it is then up to him to declare it for income tax.

What is recommended when doing the Vehicle Transfer?

The description of the Requirements for vehicle transfer. Here are some recommendations.

In Colombia, the market for the sale of new vehicles has grown a lot, however the used vehicle market is not far behind and is also growing.

It is recommended to avoid discomfort and inconvenience of a legal or economic nature, when doing this type of negotiation check if you have fines. If you have them, you must proceed to pay them before continuing with the transfer of the vehicle.

It is also advisable to have the document ready where the transfer of ownership rights, all with the due claims of the civil and / or commercial standard. It must include price conditions and payment method, vehicle delivery, fiscal responsibilities covered among others.

You can attach provisions related to the protection of the buyer and the seller, to safeguard both parties in the event of breach of the purchase and sale contract.

Additionally, take into account that if the owner of the vehicle is a legal person, you must attach a copy of the certificate of existence. Also attach the legal representation, which must be valid for a maximum of 30 days.

Important pay the debt you have with banks. Since the financial institution must provide proof, confirmation or settlement of payment of the vehicle.

On the other hand there is a custom or malpractice what is called Open vehicle transfer. Is a procedure that is legally invalid.

It is about Then, the registration of the seller’s signature and fingerprint is made in the Unique National Form (FUN), and this under no circumstances gives proof of ownership of the vehicle. Skipping the other corresponding legal steps.

In other words, the seller continues to be the owner of the vehicle, and the buyer will subsequently not be able to make any sale, since they are not listed as the legal owner of the vehicle. Likewise, all payments of taxes, fines and others will be expressed as an outstanding debt of the former owner of the vehicle.

That is why you must perform the Vehicle transfer and you will avoid inconveniences in the future.

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