Need bank/insurance help
#1
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iTrader: (8)
Join Date: Jun 2004
Location: Bay Area
Posts: 744
Car Info: iono nemore
Need bank/insurance help
hello all I thought i asked the knowledgable poeple of the BAIC, wouldn't hurt to try.
currently my car is being financed through a bank, and my question is, does anyone kno if the bank will let me take the car overseas? I'm being deployed to germany and i'd really like to take my car with me, but i already get the feeling they'll say no. so what can i do to make the bank say yes?
also triple A already says they wont insure me under my current plan if i take the car overseas. so i have to buy another insurance plan?
i'd apreciate any help from anyone with knowledge in either area. Thanks.
currently my car is being financed through a bank, and my question is, does anyone kno if the bank will let me take the car overseas? I'm being deployed to germany and i'd really like to take my car with me, but i already get the feeling they'll say no. so what can i do to make the bank say yes?
also triple A already says they wont insure me under my current plan if i take the car overseas. so i have to buy another insurance plan?
i'd apreciate any help from anyone with knowledge in either area. Thanks.
#2
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Posts: n/a
My $.0002. The bank will look at your ability to pay, the cars value, and insurance. There may be a requirement in the loan that the car remain registed (or in the US). This would be to maintain the cars' loan value. You would need to document that car would not loose value as a loan, or convert the loan to an unsecured loan, or offer other security for the loan if the bank has problems. Your problems with insurance will likely be because your car may not meet European code so it can not be registered (just to begin with, side marker lights, rear tail light, fuel adapter, spedo conversion, etc). Read a British car magazine (eg Japanese Performance) they have lots of adds from import companies that specialize in preping cars to meet European standards. Some cars in some countries are required to anti-hijacking devices installed. Then you can pay the taxes and then get insurance (again, there are lots of adds in British car mags). There are companies that specialize in doing all of this and the paperwork for a fee. I'd try to find someone on base who had done this before and ask how they did it.
#4
General Pimpin'
iTrader: (7)
That's interesting.
I'd say just go down and ask. How long are you going to be in germany?
I'm guessing that as long as you keep your mailing address in the states..maybe your folks house or something and keep making your payments on time you'd be fine. States residency.
Being that your military I'm guessing they'll trust you more than the average joe trying to do something like this.
Either that or leave it here. Find a bank overseas that helps us soldiers and get a loan from them. Pay off the states loan and have it shipped over.
Or sell it.... overseas cars are better anyways.
I'd say just go down and ask. How long are you going to be in germany?
I'm guessing that as long as you keep your mailing address in the states..maybe your folks house or something and keep making your payments on time you'd be fine. States residency.
Being that your military I'm guessing they'll trust you more than the average joe trying to do something like this.
Either that or leave it here. Find a bank overseas that helps us soldiers and get a loan from them. Pay off the states loan and have it shipped over.
Or sell it.... overseas cars are better anyways.
#5
I know with road trips into mexico, they require you to get permission from the lien holder
of the car to bring it into the country. Because the bank most likely has no control over
you or your car once you enter a foreign country you probably need to talk with them about it.
Being in the military, I'm sure your not the first person to try and do this. I would think that
the military would have something that would help or at least advice on what to do.
of the car to bring it into the country. Because the bank most likely has no control over
you or your car once you enter a foreign country you probably need to talk with them about it.
Being in the military, I'm sure your not the first person to try and do this. I would think that
the military would have something that would help or at least advice on what to do.
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