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Import Financed Canadian Car to US

By quasar255 in Canada

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quasar255 Newbie

quasar255   0

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We are moving from Alberta to California.

We have a Honda which we would take along(ship), but it is still financed via BMO car loan...loan ending 2021.

I was just wondering I can import and register it in California, OR do I have to pay off loan  in order to do so?

 

TIA

Ontarkie Grand Master

Ontarkie   14,236

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Most of the time you must pay off the loan first. Call BMO and ask them if you have any other options. Just be prepared to pay it off or sell it. 

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RCable Enthusiast

RCable   75

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8 hours ago, quasar255 said:

We are moving from Alberta to California.

We have a Honda which we would take along(ship), but it is still financed via BMO car loan...loan ending 2021.

I was just wondering I can import and register it in California, OR do I have to pay off loan  in order to do so?

 

TIA

My husband was told that he’d have to pay it off. Every company is different. But you’d likely have to pay taxes on the car to bring into the US. Most of the time it’s not worth it.

 

On a side note, my husband is from Alberta and will be moving to California as well :)

NikLR Grand Master

NikLR   13,227

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The bank owns the title of the car until its paid. You'll need to pay it off or refinance in the USA to a bank here (generally a private loan) to register in the USA. 

You have brains in your head. You have feet in your shoes. You can steer yourself any direction you choose.  - Dr. Seuss

 

 
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