Nicaragua Expat Forum

johnchip
Joined 2016
Posts: 623

6 years ago

Purchasing new car

6 years ago

The resident pensioner is granted IVA/ tax-free purchase through INTUR. I saved $6000 off the price of my new car. The process is not well understood by the local dealer, including the largest, Casa Pellas. You do have to push them and do your due diligence. You must buy the new car 'off the boat' as once landed it is already been taxed. You cannot buy it off the floor to get the tax benefit. The banks will not give car loans if you are over 55. (Bank loans here start at 7%, I took a small personal loan online from Lending Club at 9%. Very easy with cash in my US account in 48 hours.) You do not need an attorney, but you do need to work with INTUR to get the proper wording for the formulas needed. My local INTUR office head did this for me after the dealer did it wrong. He also got the paper-work to the Managua office and had it returned to me in a week. You will need a customs agent the dealership can arrange: cost $360. Insurance arranged at the agency. Registering the car is a bit confusing but took a half day to the various police and municipal offices. As one experiences here, little bargaining can be done on such items. But I did get them to throw in the 'bells and whistles'; bumper and roof racks, mats, seat covers and rear sensor set up, total about $700 extras. In the end, prices here are comparable to the US and other world prices once you knock off that big IVA tax. I did extensive research for three months before choosing my car based on maintenance and comparisons on every vehicle sold here. My first choices,(hot and sexy) proved to be not so well reviewed worldwide and I ended up with a Suzuki 7 seater as I live with a large extended family with tons of kids. So far we max-out with 12 in my 7 seater. Well worth the time and effort to be road worthy again. ( It is also noteworthy if you need to file an insurance claim you must call it in within 48 hours of the accident to have your claim be validated, and if it involves another person, vehicle or property you must have a police report. )

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