Can i finance a car that i want to import from the US?

[rong_feng]

Hi there everyone here is my situation. I never purchased a car before ever even in canada before. I was wondering can i finance a car that i purchase from the states through Ebay or whatever. Ive seen threads on how to import a car from US and it sounds very tempting. But they all say "do not do a trade-in" because it gets too complicated etc. So my question is, if people were to purchase a car from the states, are you guys telling me that you need to have all the money ready (pay by check for full amount), or can i finance it.

Im thinking about this because the Canadian dollar is on the rise and it is significantly a lot cheaper to buy a car from the states.

One more thing, can i also get the car delivered to my house instead of me taking a bus down there and then driving it all back? I dont want to do it because it might take too long gas and it racks up the mileage on the car. Many thanks

[Spud72]

Sure, it's possible.

The easiest way to go would just be a line of credit that you could dip into. Minimal fuss.

If you need a true auto "loan" for it, get talk to the bank and get pre-approved. The bank probably won't care if its from the US or Canada but they'll likely want to register a lien on it. It shouldn't be much different than buying a used car in Canada.

A LOC would be easiest though.

Getting it "delivered" to your house will be tough. You will have documents at the border crossing that need to be done. Check out RIV. I'm in the process of doing some checking for an older car.

[rong_feng]

Sure, it's possible.

The easiest way to go would just be a line of credit that you could dip into. Minimal fuss.

If you need a true auto "loan" for it, get talk to the bank and get pre-approved. The bank probably won't care if its from the US or Canada but they'll likely want to register a lien on it. It shouldn't be much different than buying a used car in Canada.

A LOC would be easiest though.

Getting it "delivered" to your house will be tough. You will have documents at the border crossing that need to be done. Check out RIV. I'm in the process of doing some checking for an older car.

ok thanks,

btw i hope thats not your actual picture in your avatar. If so im not going to take your advice, thanks.