Canadian vehicle loan...

[stephandmuz 0]

Being that my fiance will have no credit in the U.S. when he arrives, we were wondering if he could (take out a loan) in canada for a vehicle before he enters the States. Is this possible? We have heard that a person can not have a lein on a vehicle if driving it across the border. Is this true? If not, how would we go about making payments from the U.S.?

Any info will be appreciated.

Thanks

[Emancipation 2]

Being that my fiance will have no credit in the U.S. when he arrives, we were wondering if he could (take out a loan) in canada for a vehicle before he enters the States. Is this possible? We have heard that a person can not have a lein on a vehicle if driving it across the border. Is this true? If not, how would we go about making payments from the U.S.?

Any info will be appreciated.

Thanks

That's my understanding... A simple phone call to the lender thought might help! I called Honda Finance in Canada and they told me that there was no way I could take my car across the border with a lein on it.. and no way to transfer to Honda Finance USA. Unless he could get an unsecured loan on a cheaper car!

[stephandmuz 0]

Being that my fiance will have no credit in the U.S. when he arrives, we were wondering if he could (take out a loan) in canada for a vehicle before he enters the States. Is this possible? We have heard that a person can not have a lein on a vehicle if driving it across the border. Is this true? If not, how would we go about making payments from the U.S.?

Any info will be appreciated.

Thanks

That's my understanding... A simple phone call to the lender thought might help! I called Honda Finance in Canada and they told me that there was no way I could take my car across the border with a lein on it.. and no way to transfer to Honda Finance USA. Unless he could get an unsecured loan on a cheaper car!

I wanted to get imput here first, as I always do before investigating further. Yeah, calling a lender in Canada will be the next step. Thanks for the info. Much appreciated.

[Delicia 1]

Besides the lien issue, you might want to check on the U.S. importation of the vehicle, registration of the Canadian car, etc. My recommendation would be to avoid bringing a car, if at all possible.

[Emancipation 2]

Besides the lien issue, you might want to check on the U.S. importation of the vehicle, registration of the Canadian car, etc. My recommendation would be to avoid bringing a car, if at all possible.

YEP add insurance to that list as well...

[Krikit 1,163]

Honestly, you're better off purchasing the vehicle in the US. They are so much cheaper here. We just bought a Nissan in November. In order to get the 2.9% financing the dealer just called someone at Nissan Canada for a copy of my credit report. He said it wasn't a problem.

I also imported a car from Canada. It's not that big of a deal. But I didn't have any liens against it so I have no idea how that impacts importation. I believe there is someone on the board who did have a lien, and all they did is continue to make their car payments from here. One other thing to note.... if the car is purchased within a certain period of time prior to importation (I think it's one year) you are subject to import duty. Anything older than that and it's not a problem.

[stephandmuz 0]

Honestly, you're better off purchasing the vehicle in the US. They are so much cheaper here. We just bought a Nissan in November. In order to get the 2.9% financing the dealer just called someone at Nissan Canada for a copy of my credit report. He said it wasn't a problem.

I also imported a car from Canada. It's not that big of a deal. But I didn't have any liens against it so I have no idea how that impacts importation. I believe there is someone on the board who did have a lien, and all they did is continue to make their car payments from here. One other thing to note.... if the car is purchased within a certain period of time prior to importation (I think it's one year) you are subject to import duty. Anything older than that and it's not a problem.

Thanks Krikit...

Did you get the car in your name alone or was your so name on the loan also? My fiances credit is perfect in canada, and we too also thought about having a dealership just pull his credit report, but we are worried about him not having a job for at least 3 months after he enters the country. Do you think that him not having a job will make a difference when trying to get a car loan?

[Krikit 1,163]

Did you get the car in your name alone or was your so name on the loan also? My fiances credit is perfect in canada, and we too also thought about having a dealership just pull his credit report, but we are worried about him not having a job for at least 3 months after he enters the country. Do you think that him not having a job will make a difference when trying to get a car loan?

Him not having a job doesn't matter (I don't have one, either). As long as your finances show you are able to carry the debt you are good to go.

[bradcanuck 1]

1 year is correct. I imported my BMW and because it was just outside a year, import free. Hooray!

[jdsp07 0]

Based on the price of cars and hassles you might have at the border. I would definetely recommend selling your car in Canada rather than importing it. Cars are cheaper in the US.

[trailmix 77]

Based on the price of cars and hassles you might have at the border. I would definetely recommend selling your car in Canada rather than importing it. Cars are cheaper in the US.

Unless you are driving because it can be a long walk