landing - vehicle not paid off
Mar 7th 2001, 1:31 am
#1
Guest
Posts: n/a
Hi, I am planning on landing in a couple of weeks. My car in US is not paid off. Does any
body know the procedure of moving the car, when the car is not paid off. desi
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body know the procedure of moving the car, when the car is not paid off. desi
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Posted from [216.39.149.194] by way of mail10.bigmailbox.com [209.132.220.41] via
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Mar 7th 2001, 11:34 am
#2
Guest
Posts: n/a
>
paid off.
>
paid off.
Canada does not have a problem with a car that has a lien on it, but US Customs does have
some steps that must be followed in this case, and you need to present the car to US
Customs for export clearance.
First, you need to check with the finance agency or bank that loaned you the money for the
car, to make sure that they will allow you to permanently export it, before it's paid off.
Some will not, because it becomes difficult for them to repossess the car, in the event
that you default on the loan. If that's the case, then you may not be able to take the car
to Canada before it is paid off. Note that if you were somehow able to take the car, and
the bank found out that you did this, it could make the loan payable in full.
You also have to have the original title with you when you cross the border. If the bank
or lienholder has the title, they must release it to you. If they are listed as a
lienholder on the title, then you must have a letter from them, typed on their letterhead
containing a description of the vehicle including the Vehicle Identification Number (VIN),
the name of the owner and the phone number of the lienholder. It must also have an
original signature of the lienholder (or an authorized signatory) and be dated. You will
need this letter because you must send them to US Customs at the port of export at least
72 hours before you export the car.
You can find a full outline of the Canadian requirements at http://www.riv.ca and the US
export requirements at: http://www.customs.ustreas.gov/impoexpo/impoexpo.htm
paid off.
>
paid off.
Canada does not have a problem with a car that has a lien on it, but US Customs does have
some steps that must be followed in this case, and you need to present the car to US
Customs for export clearance.
First, you need to check with the finance agency or bank that loaned you the money for the
car, to make sure that they will allow you to permanently export it, before it's paid off.
Some will not, because it becomes difficult for them to repossess the car, in the event
that you default on the loan. If that's the case, then you may not be able to take the car
to Canada before it is paid off. Note that if you were somehow able to take the car, and
the bank found out that you did this, it could make the loan payable in full.
You also have to have the original title with you when you cross the border. If the bank
or lienholder has the title, they must release it to you. If they are listed as a
lienholder on the title, then you must have a letter from them, typed on their letterhead
containing a description of the vehicle including the Vehicle Identification Number (VIN),
the name of the owner and the phone number of the lienholder. It must also have an
original signature of the lienholder (or an authorized signatory) and be dated. You will
need this letter because you must send them to US Customs at the port of export at least
72 hours before you export the car.
You can find a full outline of the Canadian requirements at http://www.riv.ca and the US
export requirements at: http://www.customs.ustreas.gov/impoexpo/impoexpo.htm
