Importing a Car

[AllisonVSC]

A quick look at the RIV site link to the Transport Canada site indicates there are no inadmissible Toyotas

http://www.tc.gc.ca/roadsafety/SafeVehicles/Importation/Usa/VAFUS/list2/TOYOTA___LEXUS___SCION.htm

[Iamrobot85]

If it's admissible does that mean I don't have to pay duties?

[AllisonVSC]

Duty has nothing to do with vehicle admissibility.

If you are a new resident then you can import the vehicle duty free with your other personal belongings when you land. Those belongings must be used (except for some exemptions like wedding gifts) and declared at the time of landing though to be tax and duty free.

[Iamrobot85]

Really?  That's freakin' sweet!

[JustandDaph]

I got in touch with the bank that I have my car loan through and they said that since my dad co-signed and will in fact be staying in the states, that they did not have a problem issuing a letter of permission allowing me to export my car.  So, TreeLover, this might be an option for you.  I think most banks would probably not allow this but because I have never missed or been late with a payment and my dad has a pristine credit history, plus the bank is a small-town bank, they were willing to do this.

NOW I just need to figure out what I'm going to do because they won't actually give me a title, just a letter of permission.  So I am not sure what I should send to the border when I land...  maybe my registration & the letter will be sufficient?  Anyone?

Your situation is very much like my hubby and I. His dad is the co-signer as well and we are starting to look into importing hubby's Scion TC. We just sent in our immigration paperwork last week but I'm looking ahead to make sure the rest of the planning is done (car, personal belongings, etc) SO glad to know that you are going through this and I've got you to reference back to! Keep us posted please! I'll be watching this thread like a hawk

[Iamrobot85]

Even more alike than you think, my car is a Scion XB

[JustandDaph]

Even more alike than you think, my car is a Scion XB

HAH! sweet! I was really skeptical about the car at first since Scions aren't popular in Toronto. I ate my words when I finally got to ride in hub's last month. Now I get why he wants to bring it with him

[TreeLover]

Well, I ended up getting PPR today, so I'm looking into the car thing too now.  I just called my bank and they said no to giving me permission to export the car with the lien on it.  They also said no to adding a co-signer who is in the USA.  They said the car would have to remain in the USA.

So, now my options are to payoff the loan with a Canadian loan co-signed by my partner, or pay off the car with my unsecured line of credit that I have, which has a higher interest (7% instead of 4%), but would give me time to figure out something else, either a Canadian personal loan or car loan or something like that.

yeah, I had a feeling they would say no.  I just wonder if they'll notice if I pull money from my line of credit to pay off the car loan.  I guess that looks kind of odd to do that.

I could delay paying my quarterly taxes to put that money towards the car, although it's only about a third of it.

[JustandDaph]

Well, I ended up getting PPR today, so I'm looking into the car thing too now.  I just called my bank and they said no to giving me permission to export the car with the lien on it.  They also said no to adding a co-signer who is in the USA.  They said the car would have to remain in the USA.

So, now my options are to payoff the loan with a Canadian loan co-signed by my partner, or pay off the car with my unsecured line of credit that I have, which has a higher interest (7% instead of 4%), but would give me time to figure out something else, either a Canadian personal loan or car loan or something like that.

yeah, I had a feeling they would say no.  I just wonder if they'll notice if I pull money from my line of credit to pay off the car loan.  I guess that looks kind of odd to do that.

I could delay paying my quarterly taxes to put that money towards the car, although it's only about a third of it.

Ouch! sorry to hear! Hopefully it'll all work out for ya. Keep us posted

[AllisonVSC]

Well, I ended up getting PPR today, so I'm looking into the car thing too now.  I just called my bank and they said no to giving me permission to export the car with the lien on it.  They also said no to adding a co-signer who is in the USA.  They said the car would have to remain in the USA.

So, now my options are to payoff the loan with a Canadian loan co-signed by my partner, or pay off the car with my unsecured line of credit that I have, which has a higher interest (7% instead of 4%), but would give me time to figure out something else, either a Canadian personal loan or car loan or something like that.

yeah, I had a feeling they would say no.  I just wonder if they'll notice if I pull money from my line of credit to pay off the car loan.  I guess that looks kind of odd to do that.

I could delay paying my quarterly taxes to put that money towards the car, although it's only about a third of it.

Congrats on the PPR, Treelover. You might also want to check around to other US lenders (or lenders that do business in both the US and Canada) and ask about the possibility of exporting or having a co-signer. A few calls won't take too long. I wouldn't suggest using your quarterly tax payment to pay on the vehicle esp given that it will only cover a third of the payoff.