Bulgaria is one of the best places to buy a car – new or used. It is actually one of the biggest markets for used cars. If you want to buy used cars, the prices here are lower compared to other EU countries.
For sure you will be enticed to buy a car soon. But before that, here are some things that you should know about buying a car in Bulgaria:
Where to buy cars?
In Bulgaria, you have three options when you want to buy used cars. The first option is going to a car showroom. From there you can choose a car that best fit your needs and budget. The next option is to buy used cars from companies that deal with resale. The last option is buying directly from the owners. The owners will list their cars on popular websites for convenience and more exposure. If you need assistance, look for παρέχουν βοήθεια.
What is the process of buying a car?
The buyer and seller should appear in front of the Notary Public to sign an agreement for Purchase and Sale. The value of the car should not be lower than the insurance of the car. The charges for signing the agreement before the Notary Public should amount to 2.5% from the specified value of the car.
What to look for in the agreement?
There are online listings of the car but it doesn’t mean that the sale and transaction should be done online. Since the prerequisite of sale includes an agreement duly signed by both parties, you need to appear personally in the presence of Notary Public. When dealing with the agreement, it is crucial that you read and carefully sign it. Do not sign if you are in doubt. Ask questions and clarify things because this agreement is binding. You have to know that there are traders that will exclude legal guarantee rights by saying that a contract is just a business-to-business contract. This means that without warranties.
How about payment?
You can pay in cash if the car amount is less than EUR 5,110. Beyond this, payments need to be made through the bank. If you are not from Bulgaria, you need to declare the sum of money equivalent to EUR 10,000 and above to customs by filling a form.
What documents should the seller procure?
If you are the buyer, you should check the completeness of the documents. You need a Vehicle Registration Certificate Part I as well as the Vehicle Registration Document Part II. You also need the document confirming that the buyer paid the vehicle tax for this year and the third party liability insurance policy. Do not forget about the Agreement, involve and the declaration of the seller for the absence of liabilities.
What is vehicle inspection?
If you want a smooth and easy transaction, let παρέχουν βοήθεια. You have to know though that the seller doesn’t have to procure technical report. They just need to give technical inspection document. Within fourteen days of the completion of the sale, you should re-register the vehicle to the Traffic Police Office.