Yes, you CAN bring your car with you when you move to Panama. Should you? That’s for you to decide. Here are the pros and cons:
PRO:
- You will have a car and won’t have the expense of buying one once you are in the country.
- You can drive to Panama from North America. It might take three-four weeks, but the adventure will be grand and you will see some lovely vistas.
- If you are in Panama under a “Pensionado” Visa, you will be able to bring the car into the country without paying tax. In fact, you can bring a car into Panama every two years without paying tax if you are a “pensionado.”
CON:
- Shipping your car into Panama will be expensive. It must be crated. Use a service provider to process your paperwork if you do decide to ship.
- You must own clear title to your car in order to bring it to Panama, regardless of how it gets there. It cannot be financed, leased or company owned.
- North American cars are highly “smog” and “safety” equipped. Replacement parts are not easily found as these features are not required in Panama.
- Many Japanese cars made for the North American market are not the same cars found in Panama. Their Japanese cars are made in Mexico and Guatemala, meaning that the parts might not be the same. However, Honda and Mitsubishis sold in Panama ARE made in Japan.
- Korean cars are cheaper in Panama.
- Chinese cars are cheaper in Panama.
- Luxury cars ARE available in Panama.
- SUVs are available in Panama.
- Sub-compact cars are plentiful in Panama.
- Motorcycles are available in Panama.
If you plan to purchase a car in Panama, know that most cars are sold on a cash basis. Financing isn’t popular and IF you do find financing, you will still be required to place at least 50% down. Your new car will come with a warranty of several years. The good news is that new car prices in Panama are very reasonable.
Buying a used car is suggested, as is buying from a dealer. They will warranty the car. Also, have your repairs done at an authorized dealer to be sure that you are getting the proper parts and servicing.
Driving in Panama isn’t difficult. Just avoid the traffic jams around Panama City during rush hour. The Pan-American Highway is efficient and will take you across the country, with spokes shooting off the highway heading toward both coasts.
Bring your home country driver's license and also get an international license. Once you have established residency in Panama you will be able to get a Panamanian license.
