New Ruling: No Used Cars Over Four Years Old Allowed
In a move expected to shake up the foreign used car industry, Trade Minister Paula Gopee-Scoon recently announced a new policy which bars the importation of gasoline-powered vehicles more than four years old. Previously, foreign used car dealers were allowed to import vehicles that were up to six years old.
The policy, which takes immediate effect, also restricts prospective buyers importing cars for personal use to doing so every four years instead of every three years.
“The decision was also taken that the current age limit of three years for diesel-powered cars and four years for CNG-powered cars which are allowed for importation be maintained,” the Minister said during a media briefing at the Ministry’s offices at Nicholas Towers, Port-of-Spain.
Gopee-Scoon said the application process for any new person or business seeking to register as a Foreign Used Car Dealer has been temporarily suspended as the Trade Ministry is currently undertaking a comprehensive review and audit of the existing policy. The review, which will include discussions with relevant stakeholders, will be concluded by March 31.