The most common scenario for a local is buying a used Y plate car from a foreigner who is leaving the country. This is where the bargains appear.
Because the vehicle is classified as "in transit," the owner is not required to pay Icelandic import duties or VAT. The only taxes paid are a nominal annual operating fee for the Y plate itself. Consequently, you are paying for the value of the physical car —not the value of the car plus the welfare state. y plate car
: You can obtain a comprehensive report—including ownership records, accident history, and service details—by entering the license plate and state into services like AutoCheck . The most common scenario for a local is