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05-31-2023, 02:32 PM
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#1
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Junior Member
Join Date: Sep 2020
Posts: 21
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Financing options for a Canadian to buy class a in USA
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.
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06-01-2023, 01:55 PM
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#2
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Senior Member
Workhorse Chassis Owner iRV2 No Limits Club
Join Date: Jul 2005
Location: USA
Posts: 5,618
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Just curious. How much is a new $400,000 coach worth after it rolls off the lot?
__________________
TandW
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06-01-2023, 05:38 PM
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#3
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Senior Member
Join Date: Jul 2000
Posts: 3,993
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Anyone financing $400,000 will be sorry
As prices drop the value of your unit will be upside down.
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Moisheh
2008 Dynasty 42' Diamond IV
1988 Bluebird PT38
2009 Silverado Toad
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06-01-2023, 06:14 PM
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#4
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Senior Member
Tiffin Owners Club Freightliner Owners Club
Join Date: Oct 2008
Location: Merritt, BC
Posts: 3,753
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$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.
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Bob, Sherron & Kinsey (RIP 2013-2022)
2017 Tiffin Phaeton 40QBH
2014 Jeep Cherokee Limited
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06-01-2023, 06:31 PM
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#5
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Senior Member
Workhorse Chassis Owner iRV2 No Limits Club
Join Date: Jul 2005
Location: USA
Posts: 5,618
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Seems his search is for a Canadian lender that will finance a USA coach.
__________________
TandW
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06-01-2023, 07:11 PM
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#6
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Moderator Emeritus
Join Date: Jan 2000
Location: West Palm Beach, FL. USA
Posts: 26,752
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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.
__________________
Gary Brinck
Former owner of 2004 American Tradition and several other RVs
Home is West Palm Beach, FL
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06-01-2023, 11:21 PM
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#7
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Junior Member
Join Date: Sep 2020
Posts: 21
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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.
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06-01-2023, 11:23 PM
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#8
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Junior Member
Join Date: Sep 2020
Posts: 21
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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.
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06-01-2023, 11:39 PM
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#9
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Member
Join Date: Feb 2020
Posts: 46
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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.
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06-11-2023, 10:02 PM
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#10
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Member
Join Date: Nov 2014
Location: lethbridge
Posts: 76
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Bought mine in az with the TD financing imported to Canada no prblem
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09-16-2023, 05:39 PM
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#11
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Junior Member
Join Date: Sep 2023
Posts: 1
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Quote:
Originally Posted by fleetwood ex
Bought mine in az with the TD financing imported to Canada no prblem
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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'). :-)
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