Community Forums

Redram99 · 05-31-2023, 02:32 PM

I am searching out Canadian lenders that will finance a class A that I want to purchase in the USA. I have approached a couple different options and their self imposed limits are too low.
Max they would go is 150k and $200k(not due to my financial situation).

I am looking for around $400k CAD.

Any thoughts?
Thanks.

TandW · 06-01-2023, 01:55 PM

Just curious. How much is a new $400,000 coach worth after it rolls off the lot?

moisheh · 06-01-2023, 05:38 PM

Anyone financing $400,000 will be sorry

As prices drop the value of your unit will be upside down.

BobGed · 06-01-2023, 06:14 PM

$400,000 CAD is about $300,000 USD which isn't that much in today's new coach market.

I understood the OP's question as wanting to borrow $400,000 CAD not that he was purchasing a coach at that price and looking for 100% financing.

TandW · 06-01-2023, 06:31 PM

Seems his search is for a Canadian lender that will finance a USA coach.

Gary RVRoamer · 06-01-2023, 07:11 PM

Once he imports it into Canada, it's a Canadian coach, eh? And the loan lien is held by a Canadian lender?

I can understand some reluctance to finance a vehicle that is not yet in the country - what if there is some snafu and it cannot be legally brought into Canada? The lender could be stuck with an asset he cannot actually get his hands on. A low probability situation, but one a lendor cannot ignore on a big loan.

Redram99 · 06-01-2023, 11:21 PM

These boards are a bit like politics. Seems our politicians are not the only ones with the disease these days.

Ask “what colour is the sky” and the response is “ they speak English in Australia.

Lol.

Redram99 · 06-01-2023, 11:23 PM

It seems to be a bit problematic to finance across the boarder. I may have to purchase outright and finance once it is back in Canada.
I didn’t really want to do that.

Bearmtn · 06-01-2023, 11:39 PM

Lenders need secure collateral, and an RV in another country has no value at all to them so I do not expect you will find anyone unless you can offer the equivalent collateral in Canada, such as your house or another liquid asset.

fleetwood ex · 06-11-2023, 10:02 PM

Bought mine in az with the TD financing imported to Canada no prblem

RoaminKanuck · 09-16-2023, 05:39 PM

Quote:

Originally Posted by fleetwood ex

Bought mine in az with the TD financing imported to Canada no prblem

I'd appreciate it if you could elaborate. I'm looking at a unit in FL. I know how to do the whole vehicle import thing, have done it before, and can pay the tax at the border no problem, but interested in how TD handled the financing. Until you get the unit to Canada, and it's registered, TD can't put a lien on the title. Or do they do that through their US entity? Any tips on the process or keywords to trigger the finance folks would be helpful. (my guy at TD said that they could only finance it once it was in Canada, and at that it would be complicated to finance a fully paid RV... clearly, I need a new 'guy'). :-)