Q to the gurus living on the border: Car financed in the US

A

araj_98

Registered Users (C)
Hi

Can someone please shade some light on this tricky situation?

I have a car financed with Honda Finance in the US. As per their policies car should stay in the US for the term its financed with them. (Or I should pay it off, which is unlikely at this last minute)
Is there any institute in the US that would allow me to live in Canada?
Are there any banks/financial institutes that can finance it based on my employment in the US?
Most likely I would be working in the US while living in Windsor or somewhere in the border area.

Thanks a ton in advance!!
 
Unless you hold a title to the car, the Canada Customs will not let you import the car into Canada. So it is not just the matter of the financing company. You may call Honda finance in canada (if they have one) and see if you could arrange a re-finance and then contact Customs to see if they would accept a Canadian financed car.
 
Thank you!

Thanks Dimple!

Who would know better than you. I was just making sure since I had heard from someone that if the financial institute has no problem customs would usually allow it.

can you please let me know if its easy to finance it after I land in Canada based on my credit history/employment in the US. I could pay it off on credit card and once I am inside Canada I would refinance it. what would you reccomend in this situation?

thanks again!!
 
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Thanks Ray

I will call up both the customs and see what they have to say. Meanwhile I spoke to Honda Finance, they said that there is an approval procedure I would have to go thru. Most likely I would be required to pay for 6 months in advance but all the conditions arent clear yet.

I will post my experience!!

Thanks Ray!!
 
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