phgaming LTO defers order on fines vs unregistered 2nd-hand car sales

The Land Transportation Office (LTO) suspends on October 23, 2024, its order that fines buyers and sellers of second-hand cars who fail to immediately register their transactions with the government. Administrative Order No. VDM 2024-046, which was released on August 30, requires sellers to report the re-sale of a vehicle within five days to the LTO. Failure to do so will result in a fine of P20,000. It likewise requires the buyer or the new vehicle owner to process the transfer of ownership within the 20 days. INQUIRER FILES

MANILA, Philippines — The Land Transportation Office (LTO) suspended its order that fines buyers and sellers of second-hand cars who fail to immediately register their transactions with the government.

LTO chief Vigor Mendoza II ordered in a memorandum dated Oct. 23 that Administrative Order (AO) No. VDM 2024-046 or the “Guidelines in the immediate transfer of ownership of motor vehicles with existing registration” will not be implemented for now.

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“In the best interest of service and to clarify certain provisions for better implementation, as well as to lengthen the compliance period and allow more time to widen the information dissemination, the effectivity of [the AO] is held in abeyance until further notice,” the memorandum states.

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READ: LTO to penalize unregistered car sale, mortgage soon

Mendoza also instructed the LTO Executive Director to draft and submit an amended AO No. VDM 2024-046, taking into consideration the inputs of other stakeholders.

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The memorandum signed by Mendoza takes effect immediately.

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AO No. VDM 2024-046, which was released on Aug. 30, requires sellers to report the re-sale of a vehicle within five days to the LTO. Failure to do so will result in a fine of P20,000.

It likewise requires the buyer or the new vehicle owner to process the transfer of ownership within the 20 days.

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