Reviewed September 2006
Car Permit - Temporary Importation Permit - Holographic Sticker
When you bring your car into Mexico you are issued a temporary importation permit and a holographic sticker (which you place on the inside of the windshield). This permit allows you to have the foreign registered vehicle in Mexico for the same length of time that your visa is good for, but doesn't allow you to sell the vehicle in Mexico. If you get an FM3 (or have one) the permit is good for as long as your FM3 is valid. See FM3 - General Information for the advantages.
More on Car Permits and Drivers
I recommend making copies of all your pertinent documents that you normally would keep in your glove box and keep only those copies there. Originals should be kept safely in another location. If your car is ever stolen in Mexico and you do not have possession your permit (importation papers) it will be a nightmare to sort out. Also, if you are ever stopped by the policeman, who may happen to get possession of your original permit papers, the scales are tipped drastically to one side (not yours!)
Mexican's can only drive your foreign plated vehicle without the registered owner being present under very specific conditions. (Husband, Wife, Brother, Sister, Parent etc.). Those conditions are spelled out in a law that may be obtained from the Aduana and change periodically. Keep a copy of that Statute in the glove box too, as even though this does not fall under the jurisdiction of the Transitos, it is wise to have a way to remind them that it doesn't. Tourist auto insurance also covers those specified individuals under the terms and conditions of the policy. Many tourist policies only cover people listed on the policy.