A foreigner can buy a Mexican-registered car under a valid temporary or permanent resident visa.
New cars are sold at agencies or authorized dealers, which handle the paperwork to register the vehicles in the buyer’s name.
What do I need to buy a car?
- Simple copy of passport,
- Valid visa,
- Proof of address (any utility bill)
- Driver’s license.
After the purchase, the buyer receives the following documents:
- Original invoice (factura)
- Registration (tarjeta de circulación).
- Receipt of payment for vehicle tax (tenencia) for that fiscal year, in states where this tax applies.
Choosing a vehicle
You can select some car dealerships and begin searching the top choices that interest you most. Make sure you test drive each of the vehicles before you make your final choice. Please compare different dealerships and check for special vehicle promotions. While financing plans is possible in Mexico, it usually has interest rates that can really add up over time. Additionally, many dealerships will also help you obtain your state license plates for a small fee.
Buying a vehicle
You can pay for your car in cash through wire transfer or direct deposit. Also, you can obtain a car loan through different institutions, mostly recommended banks, and car dealerships. Car dealerships usually have agreements with a specific bank, or they have their own financial setup, specially designed for providing their customers with credit schemes.
Buy Car Insurance
After purchasing your car, make sure to purchase car insurance in case of any unexpected accidents or damage to your car. There are a lot of insurance companies in Mexico you can choose from. Some car dealerships may even be able to help you obtain a car insurance policy to make the process easier and stress-free.
Vehicle Tax (Tenencia)
It is the fee charged annually for the possession of a vehicle. The cost may vary depending on the vehicle’s overall value and age.