Can you import a financed car?

“In most cases, car loans are not assumable. When the registration and title are transferred to a new owner, the lender needs to be notified. The lender will then step in and require a credit check to make sure the new owner can make the payments.

Can I take my financed car to USA from Canada?

Usually, Yes. In most cases, it is possible to bring a car to the United States from Canada. We say “most cases” because doing so requires that the car fits one of two requirements: either it must be substantially similar to a car that was sold in the U.S., or it must be more than 25 years old.

Can I move out of the country with a financed car?

There are rarely restrictions in finance agreements on permanently moving the vehicle out of state. However, a creditor may include such a condition. Most vehicle finance agreements do not allow the consumer to move the vehicle to another country.

Can I buy a car in us and bring it to Canada?

Some facts you should know if you are plan to import a vehicle from the U.S. or Mexico: Your vehicle must be clear of any recalls. It must then pass an inspection by the Registrar of Imported Vehicles (RIV) in Canada before it can be officially considered imported.

Can you swap finance from one car to another?

While you can’t swap a finance agreement from one car to another, there may still be the option to change your car if you have finance outstanding. To do so, you could pay off the remaining balance, then sell your car and buy a new one. Or you could part-exchange through your dealership.

Can I move to Canada with a financed car?

Your lender in the US will not allow the car to be imported to Canada with a loan amount still outstanding. So you would need to pay off the US loan before you can import the car.

Can you drive a financed car to Canada?

Driving to Canada in a financed vehicle places no additional restrictions. As long as all legalities are met, you’re free to drive into and through Canada with no issues. You do not need to contact or notify your lender of your travel plans.

Can I ship my car overseas if my car is bought under an auto loan?

Well you need to pay of the loan first to get the TITLE, you cannot ship and sell the car overseas without US Title.

Can I export my car from the US to Canada?

If your finance company has issued you a letter stating they will allow you to export the vehicle then you need to follow the directions on HOW to export your vehicle from the US and then import it to Canada. Be sure that your finance company is aware that this is a permanent move.

Can I keep my car in Canada if I move there?

If you’re planning to immigrate and live in Canada permanently, you’ll need to export your car from the US and import it into Canada, which means you’ll need to fill out the export and import paperwork for both countries and pay the appropriate fees. However, once you meet all the requirements, you can totally keep your car in Canada. Thanks!

Can I make modifications to my car before importing it into Canada?

In some cases, you may need to make a few modifications to your car before importing your vehicle into Canada. Contact both the RIV and Transport Canada to receive a list of modifications to make on your vehicle before entering Canada. You can contact the RIV by phone (416-626-6812) or email ([email protected]).

Can I take my financed car to Canada?

The company financing your car will have to agree to let you take it with you to Canada and provide a letter confirming that they are giving you authorization to do so. Generally speaking, it’s very rare that a lender will allow you to do this. Transferring the loan from a US to a Canadian bank is typically not possible either.