Insurance and tax when you sell your car
- lassebasse
- udonmap.com
- Posts: 249
- Joined: February 21, 2008, 3:56 am
- Location: Udon Thani
Insurance and tax when you sell your car
Just wondering how they do in Thailand with insurance and tax when you sell a car. Does the insurance go with the seller? That is he will cancel his insurance and get some refund and does the tax go with the car? Please share if you have any experiance with these procedures.
-
- udonmap.com
- Posts: 449
- Joined: January 31, 2017, 10:24 am
Re: Insurance and tax when you sell your car
All goes with the car
- sometimewoodworker
- udonmap.com
- Posts: 3404
- Joined: October 7, 2008, 11:19 am
Re: Insurance and tax when you sell your car
True car Insurance in Thailand is quite unusual to most countries as it is virtually always that it is the car not the driver that is insured, though there may be restrictions as to who can drive
Jerome and Nui's new househttp://bit.ly/NJnewHouse
In my posts all fees and requirements are the standard R&R but TIT and a brown envelope can make incredible changes YMMV.
In my posts all fees and requirements are the standard R&R but TIT and a brown envelope can make incredible changes YMMV.
- AA Ins Broker
- udonmap.com
- Posts: 160
- Joined: July 18, 2013, 11:28 am
Re: Insurance and tax when you sell your car
As mentioned the insurance is with the vehicle so when you sell the vehicle you can either cancel and ask for a refund** or pass on the Policy to the new owner.lassebasse wrote: ↑October 2, 2018, 9:45 amJust wondering how they do in Thailand with insurance and tax when you sell a car. Does the insurance go with the seller? That is he will cancel his insurance and get some refund and does the tax go with the car? Please share if you have any experiance with these procedures.
In both cases simply tell your Broker what you want to do and they will take care of it for you.
If you have had the insurance a few years without claims then it’s advantageous for the new Owner to take over the Policy and to pay the full amount left on the Policy to the Seller
As far as the Road Tax is concerned, that stays with the Vehicle
** there will be a ‘deduction’ for service(?) by the insurance company.
Peter
[email protected]
Re: Insurance and tax when you sell your car
After we sold our truck in May, I went to Viriyah and asked for a cash-in on the unused portion of my first class insurance. No problem......auto deposited into my bank account a few days later. The mandatory insurance transfers to the new buyer.