How to Pay for a Second Hand Car: Cash, Check and MORE

7 minutos de lectura

How to Pay for a Second Hand Car? smoothly and safely. If you have this riddle, I suggest you read this article, it will definitely help you.

When buying and selling second-hand cars, it is important not only that you check the condition of the vehicle, to make sure that all the documents are in order, if there are no fees or charges, and there are no pending fines, this issue also It’s very important.

Paying for a Second Hand Car Using Cash

The easiest and safest method is the cash. Cash refers to the payment method to prevent money laundering and terrorist financing as defined in article 34.2 of Law No. 10/2010 of April 28, these are:

  • National and foreign banknotes and coins.
  • Bank checks to the bearer, of any denomination or in any currency.
  • Any other physical means, including electronic ones, originally created to be used as a bearer payment method.

However, in this payment method, when taking preventive and anti-fraud measures, it should be considered that if one of the parties is a company or a professional, there is a limit that can’t be beat. The current maximum limit is 2,500 Euros or its equivalent in foreign currency. It is likely to drop to 1,000 euros in the near future.

However, if the payer is a natural person and can prove that they do not have tax status in Spain, nor do they have the status of an entrepreneur or professional, the limit is 15,000 euros or the equivalent in foreign currency.

If part of the payment has been paid to cover the transaction, the sum of all payments must not exceed the limit indicated under no circumstances.

If the transaction is between individuals, the regulations on cash payment limits do not apply. Therefore, in this case, any amount is acceptable.

Pay for a Second Hand Car Using a Check

Whether it is an official check or a bank check, it is a very safe way to pay professionals or individuals by check.

  • The conformed check. This is how the bank keeps the amount of the blocked check in the issuer’s account to guarantee future collection.
  • Bank check. The issuer of the check is the bank itself, which is the entity that guarantees the cashing of the check.

They appear to be the same, but they are not. The reserve implemented in the account of the issuer of a qualified check is not absolutely risk-free, as it may be affected by a lien or bankruptcy, which is not the case with bank checks.

Therefore, in view of the above situation, the most reliable form of check is the cashier’s check. In short, bank checks are the most common payment method safe and effective.

As a preventive measure to avoid forging bank checks, it is necessary to verify the authenticity of the check in person, by telephone or by any other means possible at the issuing body.

Pay for a Second Hand Car by Bank Transfer

A very popular way to pay for used cars is through wire transfer. In sales that involve professionals, this is the most suitable payment method because the money will reach your account faster.

After the transfer, the payment receipt with the bank’s electronic signature must be delivered to the seller. Since the bank details of both parties are in writing, the transfer guarantees maximum transparency.

However, this payment method is not recommended for individuals. It is possible that once the transfer, the convenience of selling disappears with the money and also with the car.

After the purchase, do not forget to continue to maintain all the guarantees with a good policy. Mapfre car insurance has a wide range of coverages and the ability to adapt to the needs of each driver, making it an ideal option for all types of vehicles. Watch page.

Paying for a Second Hand Car: Fees that the Buyer Must Assume

  • Report on «Vehicle Background and Impairments»: First of all, it is recommended that you take into account the vehicle’s history (theft, breakdown, fines…) with this document requirement, and don’t be surprised. This procedure can be carried out online with the digital certificate, or in person at the Provincial Directorate of Transport where the vehicle was purchased. Price: 8.50 EUR.
  • Rescind the reservation of title: If it is a financing tool, you must first cancel the domain name reservation before carrying out any procedure. The cost is between 20 and 100 euros, depending on various factors, especially financial institutions.
  • Purchase contract: This document contains agreements between buyers and sellers. Among them, in addition to the agreed conditions, complete information on the seller, buyer and vehicle is also specified. The Organization of Consumers and Users (OCU) recommends using the format on its website.

On the other hand, you must attach a copy of the circulation permit, a copy of the technical specification, ITV receipt (if applicable) and the circulation tax receipt.

Additional Payments

  • Property transfer tax: The payment request will be made according to the different forms of the autonomous community: model 620 or different modifications of the previous form. You will have 30 days to make the payment (calculated on Saturday).
    In this page, you can find all the information of the province. As we already know, the amount to be paid will vary according to the price of the car to be sold, as we all know these cars depreciate with the year and age, so the price will be lower. According to the community, the property tax will be between 4% and 8%. Cost: Depends on the model and the community.

There are agencies like Clicks They take care of all the paperwork. You only have to worry about driving your car:

  • Change of ownership: The change of ownership will be made directly at any transport headquarters and is required appointment previous. You will have to pay the fee and provide the documents specified in the sales contract. If possible, it is recommended that both buyers and sellers participate together. Price: 54.60 euros.
  • Notification of transfer or sale of the vehicle: You must notify the new owner of the vehicle through this form 10 days after notification of the change of owner. Price: 8.50 EUR.
    This process is only necessary if you are purchasing an individual’s used or semi-used car. If necessary, there are other alternatives on the market so that the vehicle you buy is in good condition, and also so that you can save the procedures and expenses that we have been detailing. More information on page Web.

What is Clicars?

Clicars is a Spanish startup that was born with the idea of ​​making the process of buying and selling used cars Be more digital and transparent than before. This idea has been of benefit in the United States and will be implemented in China to change the usual complex and highly insecure process into a simpler and safer method.

The founders of this company are Pablo Fernández and Carlos Rivera. They are two former executives related to the banking and automotive world. After confirming that used car sales in various countries are more transparent and less complicated than in Spain, they decided to go on an adventure. Buyers in our territory are easier.

The vision originated from Pablo Fernández and Carlos Rivera, who due to their international experience observed that buying used cars in other countries / regions is easier, more transparent and can be done 100% online. On the other hand, in Spain this is usually a magical and simple procedure, for other people it is confusing and there will always be unforeseen surprises.

According to its own introduction, Clicars specializes in fairly new cars, that is, they are years behind, only a few kilometers, with no serious accidents, and have a complete and up-to-date maintenance history. They also ensured that the digital model implemented «It allows customers to sell their cars at a higher price and buy at a lower price.»

They formed a team with extensive experience in automotive, technology and marketing, focused on transparency, simplicity and trust, and established a new concept of buying and selling cars in Spain.

Car return

To sell a car, the customer does not have to move from home: after a free preliminary assessment, the company certifier will inspect the car if necessary. After checking the condition of the car, Clicars paid on the spot and took care of all the paperwork.

At the time of purchase, the selection provided by Clicks It has passed the quality program, which allows verifying up to 230 control points. These cars have a one-year warranty and promise to return them in 7 days or 1000 kilometers. In addition, customers can test the car before making the purchase or delivering it to their home, if necessary.

Carlos Rivera (Carlos Rivera) said that one of the basic objectives is «to eliminate cost overruns and mistrust in dealing with certain professionals, as well as uncertainty and discomfort when dealing with people.» Watch page.

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