The sale of a used car is a very common operation in Mexico, because many people prefer to avoid committing to long-term debts because they do not have the financial security of being able to meet their payments on time.
In addition, it is a very common idea to think that the value of the vehicle will decrease once it leaves the agency. Therefore, the pre-owned market is very helpful, since you can find a variety of vehicle models at a lower cost.
When you buy a pre-owned or used car from another individual, you will always need a contract of sale where the obligations of both parties are recorded.
Points that a Used Car Purchase Contract must contain:
General Data:
- Place, date and time of signing the contract
- Full name, address, occupation, marital status and federal taxpayer registry of the parties.
Vehicle Data:
One of the most important parts that the contract of sale of used car must contain is where the following data are specified:
- Brand
- Model (year)
- Version
- Colour
- Serial Number
- Plates
- Engine number
- Mileage
- Describe the general conditions (physical-mechanical aspects) in which the vehicle is located, for example: bodywork, paint, tires, engine, mechanical and electrical condition, etc.
Price and method of payment.
Here the agreed price and the form of payment are mentioned, as well as the type of currency in which the sale was agreed.
Accredit ownership.
Specify the invoice number of the vehicle or, if applicable, ask for the endorsement in your name of the invoice letter.
Car documentation.
In this section you must relate all the documentation that the seller has and that must be delivered to the person who acquires a car.
No debts.
This clause states that the used car is up to date with the payment of taxes and vehicle control fees. You can easily check for debts. You just have to access the finance page of the location of the car and enter the license plate number to obtain this information. We recommend you request proof of payment of tenure and verifications of the last 5 years, so as not to have complications.
Guarantee.
A protection time must be established at the seller’s expense, in case the vehicle has a deficiency that has not been reported.
Delivery of the vehicle.
Here the day, time and place of delivery of the vehicle and its documentation is established.
The contract must be signed in duplicate. We recommend that you keep the original signed contract for further clarification.
How to avoid fraud when buying a used car?
In the case of used car purchase and sale operations, to prevent any type of fraud, when purchasing we suggest that before signing the contract you verify the following points:
- Do not give advances or section until signing the contract of sale, this to avoid that you give a sum of money and the vehicle is not delivered.
- Verify that the car has no theft report
It is very easy to corroborate this situation. Just visit the Repuve page and enter the number of plates:
- Verify that the documentation is complete. Do not forget to make sure that the seller has the invoice and current circulation card of the car.
- Request a Test Drive. Do not forget to request a test drive, as this way you can check if you like it enough to buy it or not. In addition to being able to evaluate noise and failures that will cause repairs and expenses later.
Now that you know how to make a contract of sale of used car, we recommend you to keep up to date the taxes of vehicle services such as possession and verification to avoid debts. Also, don’t forget to set a budget for maintenance, as used cars may require repairs that insurance or warranties often don’t cover.
