The Mexican Ministry of Finance and Public Credit has issued a new decree affecting expats bringing foreign plated cars into Mexico: "New Requirements for Bringing Foreign-Plated Cars into Mexico: Banjercito."

From the Banjercito website:

IMPORTANT ANNOUNCEMENT

The Ministry of Finance and Public Credit (SHCP) has issued a decree which states that beginning on June 11th, 2011 anyone applying for a temporary import permit for vehicles must make a deposit in the amount determined by the following table:

Vehicle Year Model
Amount to be paid in Mexican Pesos. (Peso amounts are based on applicable exchange rate.)

2007 and later - USD $400
2001 until 2006 - USD $300
2000 and earlier - USD $200

This deposit is compulsory and can be paid by credit card, debit card, or cash (in US Dollars only.)

Users must keep in mind that if the deposit is charged to a credit card, the charge will be made in Mexican Pesos and will be calculated based on the exchange rate of the day on which the payment is made. This deposit will be refunded to the same credit card on the next banking business day after the vehicle is fully returned and based on the exchange rate of that day.

The vehicle must be returned on time and within the time period stated on the temporary import permit. If the vehicle is returned after the stated time period, the entire deposit amount will be transferred to the Office of the Treasury on the day following the expected return date, as allowed by current law.

Another clause in the new updated regulations requires FM2 Rentista and FM3 holders to notify Aduana within 15 days of when they renew their FM2 or FM3, otherwise Aduana is allowed to confiscate/keep these “new” deposits. Aduana’s address is listed in Yucalandia’s main article on cars in Mexico: Importing & Driving a Car in Mexico.

Note: This post is meant as a public service announcement (not meant as legal advice), so, we here at Yucandia will keep the post updated with further understandings and clarifications as they develop.