Article 106
Last update 23 June 2012  Important change here.

Aduana has not yet modified this rule to sync with the 2012 INM changes.

The following are excerpts from an official Mexican government website in Spanish and an unofficial translation into English of the 2004 law regarding the registration and driving of foreign cars in Mexico.   
It is a good idea to copy this and keep it in your car in case you encounter a cop who does not know the law (not uncommon).

Article 106 says two things: (1) that your car registration is valid so long as your FM# is valid, and (2) who may drive your car.

(Before you allow others to drive your car, be sure your insurance policy allows it.)

In 2005 the rules were changed a bit.  Your registration is valid in MEXICO so long as your FM# is valid, but if you leave Mexico after your original registration's expiration date (one year for an FM2 or FM3) you must turn in the permit and sticker at the border when you leave and buy a new permit when you return.

Also, while you are allowed to drive in Mexico with expired license plates, if you enter Mexico with expired plates, you must use the car's title to get your car permit; you cannot use an expired registration card to get the permit.

Que se Entiende por Regimen de Importación Temporal  

ARTICULO 106 LEY ADUANERA EN VIGOR (2004)

ARTICULO 106. Se entiende por regimen de importacion temporal, la entrada al pais de mercancias para permanecer en el por tiempo limitado y con una finalidad especifica, siempre que retornen al extranjero en el mismo estado, por los siguientes plazos.

FRACCION IV. Por el plazo que dure su calidad migratoria, incluyendo sus prorrogas, en los casos.  

a) Las de vehículos propiedad de extranjeros que se internen al país con calidad de inmigrantes rentistas o de no inmigrantes, excepto tratándose de refugiados y asilados políticos, siempre que se trate de un solo vehículo.

Los vehículos podrán ser conducidos en territorio nacional por el importador, su cónyuge, sus ascendientes, descendientes o hermanos, aun cuando éstos no sean extranjeros, por un extranjero que tenga alguna de las calidades migratorias a que se refiere este inciso, o por un nacional, siempre que en este último caso, viaje a bordo del mismo cualquiera de las personas autorizadas para conducir el vehículo y podrán efectuar entradas y salidas múltiples.

Los vehículos a que se refiere este inciso, deberán cumplir con los requisitos que señale el Reglamento.

Rules for Temporary Importation

Article 106 Importation Law Effective (2004)

SECTION IV. For the period which coincides with the period granted for the immigration category of the owner, including any extensions.

a) The vehicle owned by foreigners who enter the country as inmigrantes rentistas or no inmigrantes, except in the case of refugees and asylum seekers, provided that it is a single vehicle.

The vehicles can be driven in Mexico by the importer, his or her spouse, their parents and grandparents, etc, their decedents, their brothers or sisters, even when those relatives are not foreigners [But those relatives will need to carry documentation proving the relationship and that you have an FM3/2], or by a foreigner who has the same immigration category as one of those herein referenced [inmigrantes rentistas or inmigrantes], or by a Mexican citizen, provided in this latter case, that a person authorized to drive the vehicle is within the vehicle. Such vehicle is authorized to make multiple exits and returns from and to Mexico.

Vehicles referred to in this section must meet the requirements pointed out in the regulations.

You should note that the law ends with the admonition "Vehicles referred to in this section must meet the requirements pointed out in the regulations."  These requirements include, of course, having the vehicle properly registered with a hologram sticker on the windshield and a copy (not the original) of the registration paper in the vehicle.  Your current visa card and a copy of the data page of your passport should always be with you.  

An important new requirement is that you must 'renew' the permit with Aduana each year when you renew or change your visa with INM.  Read the details here. 

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