$50,000nt government rebate when buying a new car. Applies to foreigners?


#1

What is the deal on giving your old car to the government to get crushed and they paying you $50,000?

Is this only if you buy a new car?


#2

no way it’s 50k on its own , must be some kind of new car purchase tax rebate deal.


#3

I found some stuff:

A government program to boost new-car sales – not specifically electric automobiles – provides an NT$50,000 rebate on commodity taxes to consumers who purchase a new car within six months of scrapping or exporting their used vehicle. Following the policy’s implementation last year, new-car sales rose just 4.5% in 2016 to 439,629 units, according to the Taiwan Transportation Vehicle Manufacturers Association (TTVMA). Still, the number of cars sold was the highest in a decade.


#4

https://www.mof.gov.tw/Eng/Detail/Index?nodeid=318&pid=70766


#5

Do you think this applies to foreigners or only TW citizens?


#6

I’m guessing per the Gogoro rebates, this will only be available to TW citizens. :2cents:


#7

no one knows.

Dealership doesn’t know, the motor vehicle office doesn’t know they told me to ask sales at a dealership.
I e-mailed Ministry of Finance (https://www.mof.gov.tw/Eng/Detail/Index?nodeid=318&pid=70766) to ask them but no reply yet.


#8

So to answer this question, yes the government cut me a $50,000nt cheque for my old car when I bought a new one. Took about 15 working days after I purchased the car.

I get another 5,000nt for the scrap metal from the old car when the recycle it too.


#9

That’s great, congrats! What car did you buy and did you have to have a Taiwan guarantor for the 50k?

Of course, this is only worth it if the value of your old car is less the 55k.


#10

I bought a Nissan Kicks.

I tried to sell my car for 50-60k and had no offers at all lol.

Well I have a guarantor for the car loan so maybe I do for the 50k I am not too sure.


#11

Is this only for new cars, or also second hand from licensed dealer like this http://approvedplus.audi.com.tw/ ?


#12

It’s only for new cars. I got it too and everything was in my name.


#13

I’m sort of confused about the purpose of the rebate. The link says it’s “in an effort to boost the local automobile industry”, but it seems to be any car, so they mean, like, the car sales industry? Does that industry need help?


#14

Your old car needs to be in your name for a year or more and you have to buy a new car for the rebate.


#15

I don’t get it, either.

Second hand car dealerships aren’t going to be pleased.


#16

Would you mind sharing from which institution you got that loan and what interest rate they offer you?
I was under the impression that it was much harder for foreigners to get a loan than national citizens.


#17

You are correct, it is much harder for foreigners to get a loan. That is why he has a national citizen as a guarantor.


#18

Curious if you have an ARC or APRC? And did you pay outright or secure a loan?


#19

It is directly from Nissan’s financial department.
I have a Taiwanese guarantor so they were totally happy with that.

I don’t know the interest % but it is 920nt per month on a 600k loan over 5 years.


#20

I have an ARC.
I will be eligible for an APRC in 12 months time.