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Teejo

importing car with a lien? (split)

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Posted

I have a new car (bought last year) financed with Scotiabank.  Now moving to the USA (Toronto to Buffalo, NY).  Border patrol said I needed a Release of Lien from Scotiabank in order to import my car.  I called Scotiabank and they will not give a RElease unless the loan is paid off (fair enough).  They do not have a USA chapter to transfer my loan to.  RBC does which I have a RBC USA account.  I called them,  but they do not do auto loans and their personal loans have a 11% + interest rate and will not be enough to finance a car loan payout.  I called the Mazda dealership near me here in the USA and they will not take over and refinance the loan stating Mazda Canada is different than Mazda USA and they don't deal with Canadian cars so would not buy it from me (however, the 'sales' person I spoke with was not at all cut out for sales as he didn't try at all to sell me anything or to keep me as a Mazda customer but rather just didn't want to deal with me because I was Canadian and didn't want to be bothered with the 'hassle').  I'm not certain that I have enough credit built up here in the USA to quality for a personal loan for the amount needed to payout my Scotiabank car loan, but I will try and see what happens.  Besides this, does anyone have any suggestions on how to be able to import my car?  I am also going to call Mazda Toronto tomorrow and speak to my sales guy there to see what suggestions he may have, although I'm doubtful because Mazda has already been paid out for the car by Scotiabank when I drove the car off the lot, but I will see what he can suggestion.  In the meantime I'm surfing the net here trying to find suggestions. Any help would be appreciated. 

Filed: Citizen (apr) Country: Canada
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Posted

~~Post split off from a 4 yr old thread and moved to the Canada forum as this topic comes up often here.~~

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Filed: K-1 Visa Country: Wales
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Posted

Sell the car in Canada

 

Pay off the loan

 

Buy a new one in the US.

“If you know the enemy and know yourself, you need not fear the result of a hundred battles. If you know yourself but not the enemy, for every victory gained you will also suffer a defeat. If you know neither the enemy nor yourself, you will succumb in every battle.”

 
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