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Buying a car on Spanish plates
Buying a car on Spanish plates, just the way Spaniards do, can save a lot of complications and has certain advantages. You do not have to pay in foreign currency and you can purchase on the instalment plan. Britons in particular will find that new Spanish cars are priced much lower than the same models in the UK.
A foreigner may buy a car on Spanish plates if he meets one of the following qualifications:
- 1. He holds an official residence permit.
- 2. He presents the title deed - escritura - to a home he owns in Spain. The deed must be for a dwelling, not a place of business, and it must he in the personal name of the foreigner, not in the name of a company, especially an offshore company.
- 3. He presents a certificado de empadronarniento, a certificate showing that he is a registered inhabitant of the municipality whose town hail issues the document. This is not a residence permit; it is only a registration certificate showing that the person lives in that municipality You get this certificate by presenting your passport, a title deed or rental contract at your town hall.
- 4. He presents a rental contract of one year’s duration.
Note of caution: If you are a non-resident and you buy a car on Spanish registration, make sure that you obtain one of the following documents:
- 1. An International Driving Permit to carry in addition to your home country licence.
- 2. An official translation of your driving iicence, often avaiiable through the Spanish Consulate in your home country
- 3. A Certificado de Equivalencia, a “Certificate of Equivalence”, which is prepared by Spain’s Royal Automobile Club, the RACE.
This applies to both EU and non-EU citizens. The reason for this is that Spanish traffic police want somebody who is regularly on Spanish roads, and not merely a tourist visitor, to carry a licence they can read and understand. You can be fined €300 if you do not comply
When you make the rounds of auto dealers in your part of Spain, collecting brochures and comparing prices, you will find many makes and models available, at prices in some cases a little lower than in the rest of Europe. Renaults, Fords, Opels, Seats, Citroens, all manufactured in Spain, are among the best sellers. Dealers compete in offering guarantees, financing terms and special sales.
Besides these Spanish-manufactured cars, you can also find dealers specialising in imported cars on Spanish plates. Imported cars have actualiy captured 25 per cent of the Spanish market.
If you are a new arrival and don’t own property, you may be asked to provide some financial certification that you can pay for the car, or even be required to find a Spanish co-signer to guarantee your payments.
You make a deposit on the car, which will vary from dealer to dealer, and agree terms from one to four years. Interest rates have come down on these plans as competition grows keener.
If you decide on a two-year scheme, for example, you will make your down payment and then sign a series of 24 letras, or bills of exchange, for the instalments. These letras oblige you to make the payments and are often addressed directly to your bank account for payment.
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