Purchasing A Car From Bulgaria

All You Need To Know When Purchasing A Car From Bulgaria

Bulgaria is one of the biggest second-hand motor vehicle markets all around the world. Whether you want new or second-hand cars, these are all available during car shows, through resale companies, or directly from owners. One of the most popular sites for second-hand cars is Lorensita. They have a wide variety of car brands and models that you can choose from, depending on your preference.

Information And Documents Needed When Buying A Car From Bulgaria

Buying a car is a big decision to make. This is why when you want to buy second-hand cars from Lorensita, there are certain things that you should know first. Here are the most important things that you should take into consideration.

  • Personal Or Company Vehicle. When registering a car, you can choose from Personal or Company asset. Remember that when you want to register it as a personal vehicle, you need to be a resident of Bulgaria. The other alternative is to register it as a company car. This will only take 2 to 3 days for the company to officially incorporate.
  • Local Notary Public Certification. The car that you purchased needs to be certified by the Local Notary Public. The purchase value should not be lower than the insurance value. The taxes and the charges when signing the agreement for sale or purchase is 2.5% before the notary public amount. If say the sum exceeds 11500 BGN, the payment should be made via bank transfer.

Buying A Car From Bulgaria

Documents Needed To Finalize The Transaction

Before the notary public finalization, there are documents needed before you can finalize the transaction. To make sure that you are ready, here are the documents that you need to prepare:

  • Vehicle Registration Certificate Part I
  • Registration Document Part II
  • Liability Insurance Policy (3rd Party)
  • Vehicle’s Certificate of Insurance Value
  • Sale and Purchase Agreement
  • Seller’s Declaration For Absence of Liabilities

Documents Needed Within 14-Days Of Transaction Completion As A New Owner

As the new owner, you need to re-register the vehicle with the Traffic Police Office. This is why after the transaction, there are still documents that you need to submit within 14 working days. Here are the documents that you need during this process:

  • Sale and Purchase Agreement
  • Vehicle Registration Certificate Part I
  • Registration Document Part II
  • 2 copies of confirmation that you have paid the vehicle tax for the current year
  • Certificate of Technical Inspection

Why Buy Cars From Bulgaria?

Many would wonder whether Bulgaria is a good place to purchase second-hand cars, and the answer is YES! Whether you need cars, trucks, or motors, Bulgaria is the biggest market worldwide. Their prices are very low yet the quality is very high compared to EU countries. Bulgaria law does not put any restrictions when it comes to car sellers.

All you have to remember is within 3 months of completing the transaction, you have to declare the vehicle with the municipality by providing the documents mentioned above. Failure to do so might cause problems in the future. So if you are looking into purchasing second-hand cars from Bulgaria, choose Lorensita!

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