Car After Leasing: New Re-registration Rules Have Come into Effect
In Ukraine, as of January 1, 2023, simplified rules for re-registering cars after the end of a lease have come into effect. According to the new regulations, citizens can register vehicles in their name even if the leasing company has debts. This decision was made by the Cabinet of Ministers in Resolution No. 1727, which was approved at the end of December last year.
Now, in order to register ownership of the car, citizens need to contact the MVS service centers after fully paying the cost of the vehicle. Previously, the re-registration process was blocked in cases where the company was listed in the Unified Register of Debtors, which created additional difficulties for owners of leased vehicles.
Documentation Package for Re-registration
To successfully re-register a car, it is necessary to prepare a package of documents. This includes:
- application;
- passport of the owner or authorized person;
- identification code;
- financial leasing agreement;
- documents confirming the fulfillment of obligations;
- certificate of vehicle registration;
- payment receipt for the service.
These innovations will facilitate the re-registration process of cars and reduce bureaucratic obstacles for citizens.
Implementing new re-registration rules for cars after leasing is an important step towards simplifying administrative procedures in Ukraine. This decision, aimed at reducing bureaucracy, could positively affect the leasing and vehicle ownership market, as it will allow more citizens to register vehicles more easily. In the long term, such changes may help to enhance trust in financial institutions and improve the business climate in the country.