Transferring car ownership in Lanzarote is a relatively straightforward process, but it's important to follow the correct steps to ensure a smooth transfer of ownership.
Here's a step-by-step guide on how to transfer car ownership in Lanzarote:
In our experience, If you are buying through a car dealership in Lanzarote, they will do a lot of this for you, however you might be thinking of buying in a privately so before you can transfer car ownership in Lanzarote, you need to obtain the necessary documentation. This includes the car's registration certificate, also known as the Permiso de Circulación, as well as the Technical Inspection Card, or Tarjeta ITV, which verifies that the car has passed the required safety and emissions tests.
You will also need a bill of sale or contract of purchase that shows the price you paid for the vehicle, as well as proof of payment.
In Lanzarote, a transfer tax known as the Impuesto sobre Transmisiones Patrimoniales (ITP) is due when transferring ownership of a vehicle. The amount of tax you'll pay depends on the vehicle's age, engine size, and market value.
You'll need to pay the ITP at the Hacienda (tax office) or a bank that accepts tax payments. Once you've paid the tax, you'll receive a payment receipt.
Next, you'll need to visit the Traffic Department, or Jefatura Provincial de Tráfico, with all of the necessary documentation and payment receipt. Here, you'll fill out the necessary paperwork to transfer ownership of the vehicle.
The current owner of the vehicle must sign the transfer form in the presence of an authorized representative at the Traffic Department. The buyer must also sign the form.
After the transfer has been completed, the Traffic Department will issue new registration documents in the name of the new owner. This includes a new Permiso de Circulación and a new Tarjeta ITV.
Finally, don't forget to update your insurance policy to reflect the new owner and ensure that your new car is covered.
You'll also need to pay the road tax, known as the Impuesto sobre Vehículos de Tracción Mecánica (IVTM), which is due annually.
Transferring car ownership in Lanzarote requires a bit of paperwork, but it's a necessary step to ensure that the vehicle is legally yours.
By following these steps and obtaining the necessary documentation, paying the transfer tax, visiting the Traffic Department, obtaining new registration documents, updating insurance, and paying road tax, you can successfully transfer ownership of a vehicle in Lanzarote.
NOTE: Mak sure that you create 2 copies of each document to bring along with you to 'Traffico' that includes your Passport, N.I.E, Receipts of Tax Payment and the Purchase Agreement.
It may seem like overkill but we guarantee that it will save you a lot of running around!
After all of that..... 'Happy Motoring!'