Selling a Company Car in Vietnam: Process and Considerations

Anh Tuan, the owner of a small transportation business in Long Bien District, Hanoi, after many years with his trusty Hyundai H100 truck, decided it was time for an upgrade. He wanted to purchase a new Thaco Towner truck to meet the growing demands of his business. However, he was unsure about the process of selling a company-owned vehicle. Is it as complicated as people say? What documents does he need to prepare?

If you share Anh Tuan’s questions, let Xetaihanoi.edu.vn guide you through the process and essential considerations when selling a company car in Vietnam.

Selling a Company Car: Easy or Difficult?

In reality, the procedure for selling a company car is not as complex as many believe. However, for a smooth and efficient transaction, you need to understand the process and prepare all necessary legal documents according to regulations.

The Process of Selling a Company Car

Step 1: Prepare Legal Documents:

• Original vehicle registration certificate.
• Vehicle inspection certificate.
• Road maintenance fee payment certificate.
• Company’s asset valuation report (certified by a competent authority).
• Other documents as required by law (if any).

Step 2: Sign the Sales Contract:

• Find a buyer and agree on the price and payment method.
• Both parties sign the vehicle sales contract.
• The contract must be in writing, signed by the legal representatives of both parties, and stamped (if applicable).

Step 3: Notarize the Sales Contract:

• Both parties bring the sales contract and related documents to the Notary Public for notarization.
• After notarization, the original contract will be kept at the Notary Public, and each party will receive a copy with equivalent legal validity.

Step 4: Transfer Ownership:

• The buyer goes to the vehicle registration office to complete the ownership transfer procedures.

A blue and white Hyundai H100 truck on a highway

Important Considerations When Selling a Company Car

• Thoroughly check the legal status of the vehicle before selling.
• Choose a reputable car buyer with a clear address.
• Clearly agree on the price, payment method, and responsibilities of each party in the sales contract.
• Complete all legal procedures as required.

A new Thaco Towner truck in a showroom

Frequently Asked Questions

1. Can I sell a company car to an individual?

Yes, you can sell a company car to an individual. The procedure is similar to selling to an organization, the only difference being that the buyer is an individual.

2. How long does the ownership transfer process take?

The ownership transfer process usually takes about 1-2 business days.

3. What should I consider regarding “phong thủy” when selling a truck?

According to Vietnamese beliefs, when selling a truck, you should choose an auspicious day and time for a smooth and successful transaction. You can also consult with “phong thủy” experts for specific advice.