BajaNomad - Financed Vehicles

Financed Vehicles

beezus3 - 2-3-2008 at 05:50 PM

We are driving a couple vehicles down to Baja Sur and the vehicles are financed in the US. If you have driven a financed vehicle down, have you been asked to provide documentation from the financier allowing you to take the vehicle to Mexico? I understand Toyota will be willing to write us a letter for 30 day trip, however, we are moving to Todos Santos. We'll just have to keep US insurance and also buy Mexican auto insurance. Also, the other truck was just purchased and we aren't sure it will be registered prior to leaving Colorado - temporary tags...anyone done this either? Thanks for any input.

DENNIS - 2-3-2008 at 06:33 PM

It's your car and you're responsible for it. Do what you want to do with it.

CaboRon - 2-3-2008 at 08:19 PM

Quote:

Originally posted by DENNIS
It's your car and you're responsible for it. Do what you want to do with it.

The vehicles are financed, so belong to the title holder (bank).

If you do not have a letter from the title holder allowing you to take the car out of the usa, then your mexican insurance in invalid.

CaboRon

DianaT - 2-3-2008 at 08:24 PM

Quote:

Originally posted by CaboRon

Quote:

Originally posted by DENNIS
It's your car and you're responsible for it. Do what you want to do with it.

Never heard that before---interesting. Don't have a car loan now, but in the past, the Mexican Insurance companies never asked for a letter. Only needed a letter for the car permit for the mainland.

Hope to hear more about this

Diane

Frank - 2-3-2008 at 08:31 PM

Letter? Guess Ill be making a few phone calls on Monday

BAJACAT - 2-3-2008 at 09:35 PM

Baja is a Free zone, you do not need anything,other than Mexican insurance for your car.But Mainland Mexico,you need a letter of concent from the Bank,or title holder,for you to take the car to Mexico.That was told to me in San Ysidro,when I got my tourist papers for my Cabo trip.It may have change now, I don'y know.?

DENNIS - 2-3-2008 at 09:42 PM

Quote:

Originally posted by CaboRon
The vehicles are financed, so belong to the title holder (bank).

The debt belongs to the bank. They couldn't care less about the crummy car.

DianaT - 2-3-2008 at 09:52 PM

Quote:

Originally posted by BAJACAT
Baja is a Free zone, you do not need anything,other than Mexican insurance for your car.But Mainland Mexico,you need a letter of concent from the Bank,or title holder,for you to take the car to Mexico.That was told to me in San Ysidro,when I got my tourist papers for my Cabo trip.It may have change now, I don'y know.?

On the mainland one needs a credit card, the registration and if the registration shows a lien holder, they want a letter from the the lien holder. They then attach a hologram to your windshield that you need to have removed by them when you leave Mexico.

Of course, don't need this in Baja, or in parts of Sonora, but this idea that the Mexican Insurance is not valid without it is a new one to me --- hope that is not the case as we may buy another vehicle.

Diane

bajamigo - 2-3-2008 at 10:16 PM

I'm not sure if the practice is universal, but Nissan Finance definitely required a letter of "permission" to bring my car down here (BCN). Without it, I could not get Mexican insurance. The car was an Infiniti FX45, and I didn't owe much on it, but the letter was still required. Call AAA or some organization like that and tell them you want Mexico coverage; see what they have to say.

[Edited on 2-4-2008 by bajamigo]

Bob and Susan - 2-4-2008 at 07:41 AM

the letter is required but the plates are not
temporary documentation is OK
mexicans KNOW about "red tape"

i have a new truck right now without plates
this week i get the plates

i did get pulled over once last year for no plates but
the federal officer just looked at the paperwork
to make sure it wasn't stolen
and i was on my way

i've taked several NEW trucks to baja
it's ALWAYS best to have a GREAT vehcile when driving long distances :spingrin:

DianaT - 2-4-2008 at 09:23 AM

We have been buying insurance from different places for years, the last several years through the Discover Baja Club. When our vehicles were financed, we were never asked about a letter------

Guess I need to ask before we purchase a new vehicle

David K - 2-4-2008 at 09:30 AM

It is assumed that most new vehicles are financed or leased... and like jd, I have been using Discover Baja for annual policies, and a 'letter' has never been required for obtaining the insurance. Also, my State Farm insurance covers any damage to my vehicle within 50 miles from the border.

BajaDanD - 2-4-2008 at 09:36 AM

When I got my tacoma a few years ago I had it in Baja the first week I got Mex ins at the border with the temp registration that was on the windshield I had to take it off so they could do there paperwork then put it back on. I asked the finance co. before I went and they said I needed no letter
DAND

David K - 2-4-2008 at 09:48 AM

Quote:

Originally posted by BajaDanD
When I got my tacoma a few years ago I had it in Baja the first week I got Mex ins at the border with the temp registration that was on the windshield I had to take it off so they could do there paperwork then put it back on. I asked the finance co. before I went and they said I needed no letter
DAND

Pretty much the same story Dan, when I got my first Tacoma in 2000, it was a lease and I asked about a letter from Toyota Financial for Mexico travel... The answer was that being financed through Toyota, the lease was "the same as buying" and Toyota Financial knows the Tacoma was desinged for Baja and expects them to go there! My second Tacoma (2005) went to Baja the SAME DAY I got it! Oh, what a feeling! :bounce:

I did call Discover Baja so my Mexican insurance would reflect the new truck... as I would get there after 5pm, they were kind enough to tape the ammended policy to the door for me to have.

Photo of my new truck, the next day at La Bocana beach, west of El Rosario.

805 004.jpg - 43kB

beezus3 - 2-10-2008 at 04:26 PM

Update for those of you interested: So I spoke to Toyota and they will only write a letter of permission for 30 days (I tried twice). Then, I spoke to Discover Baja - they said they had never heard of Toyota saying such a thing and they do not require a letter for financed vehicles. Anyway, we are just going to get Mexican car insurance and wing it without a letter of permission, as it sounds like many of you have not been required to produce such a thing at the border. Thanks.

tripledigitken - 2-10-2008 at 05:21 PM

The lender cares about one thing.

Your timely payment.

Which would still be due if your car was wrecked or stolen with or without insurance.

Ken

rts551 - 2-10-2008 at 07:28 PM

This discussion is almost like "how do I get my FM3?"

:tumble: