Costs involved when selling used car (in CM)

[muskoka]

We are moving back to Canada mid September and will be selling our 2013 Honda Jazz, we bought new in Chiang Mai.

 

Some questions:

- VAT 7% - who pays, buyer or seller?

- do you normally list the price to include VAT, or state "plus VAT"

- Other costs?

- Who pays them?

 

My Thai gf will likely be looking after the sale but I need to keep an eye on the details.

 

Thanks!

 

Doug

 

[muskoka]

One more thing - Insurance.

 

Our insurance is due the end of May (next week). We have to pay 12 months. How is this normally handled with the sale as there will be 9 months insurance prepaid at the anticipated time of sale.

 

[chickenrunCM]

how old you are? this queations are crazy, you selling private I guess, so there are no tax involved or anything, you do new insurance or not, up to you, you selling the car like it is, there are no costs at all!

[JAS21]

Of course no VAT to pay on a private sale.

 

There will be a fee to pay at the LTO ... they will value the car. The price you sell for is irrelevant. The fee depends on the value that they put on the car. I think when I sold at 700K the fee was about 2500thb. We split the fee buyer/seller.

 

Insurance ...Either claim a refund from the insurance company or pass the insurance on to the new owner, include that money in the price of the car. I think after three months insurance the rebate will not be a lot, if any. Read your policy, the information will be there in black and white. As I recall we didn't inform the insurance company that the vehicle had been sold ... probably an idea to do that though.

 

Whatever ...  ensure that the ownership is changed at the LTO. You don't want someone driving around in a car that LTO thinks you still own. Go there with the purchaser. If you sell to a tent I'm not sure what happens but I don't think they will want to register the transfer at the LTO until they sell ... someone will no doubt advise later. 

[muskoka]

thanks JAS21 !

 

Perhaps my questions seem stupid to some, but when doing something for the first time in a foreign country and all documents only in Thai - it is all unknowns.

 

Doug

 

[JAS21]

2 hours ago, muskoka said:

thanks JAS21 !

 

Perhaps my questions seem stupid to some, but when doing something for the first time in a foreign country and all documents only in Thai - it is all unknowns.

 

Doug

 

I am sonewhat fortunate ... Mrs J lived with me in the UK for several years and is naturalised so her english is fine.

 

And she is obviously well versed in how things work here. 

 

Makes my life easy ...