HELP! Financed Vehicles and Vehicle Permits?
Is it mandatory to have a letter of permission from the company or bank that finances your car truck or RV before you can be issued a Vehicle Permit to drive to Mazatlan? I've never heard of such a r...
Forum Discussion
A financed vehicle is technically property of the institution financing the unit, the person purchasing the unit is renting it until fully paid and ownership is transferred from the financier to the person(s) that financed it.
The Banjercito wants to know who the legal owner is, and who is authorized to drive it, I have read as much as I could from Banjercito, insurance companies and all state that a financed vehicle(s) have to be permitted to go outside the United States, there is a form that one signs when you apply for the TIP that states that you told the truth, if they want they can use that to really mess your life, there is a fine, incarceration, forfeiture of the vehicle(s), and Mexican jails are not a place that you want to be in, you are going to need a lawyer, a Mexican lawyer U.S. lawyers do not have jurisdiction in Mexico and a lot of money.
If the finance company finds out that you took the vehicle(s) to Mexico without authorization from them you might be in hot water when you return to the U.S. they might report the vehicle(s) as stolen, that shows up when the license plate is scanned at the border, you will be taken into custody and the vehicle confiscated, now you will need a lawyer and again a lot of money.
For a simple document it is not worth the hassle, if the financier that you have does not authorize the vehicles going to Mexico, transfer the loan to a lender that does let you travel to Mexico.
navegator
The Banjercito wants to know who the legal owner is, and who is authorized to drive it, I have read as much as I could from Banjercito, insurance companies and all state that a financed vehicle(s) have to be permitted to go outside the United States, there is a form that one signs when you apply for the TIP that states that you told the truth, if they want they can use that to really mess your life, there is a fine, incarceration, forfeiture of the vehicle(s), and Mexican jails are not a place that you want to be in, you are going to need a lawyer, a Mexican lawyer U.S. lawyers do not have jurisdiction in Mexico and a lot of money.
If the finance company finds out that you took the vehicle(s) to Mexico without authorization from them you might be in hot water when you return to the U.S. they might report the vehicle(s) as stolen, that shows up when the license plate is scanned at the border, you will be taken into custody and the vehicle confiscated, now you will need a lawyer and again a lot of money.
For a simple document it is not worth the hassle, if the financier that you have does not authorize the vehicles going to Mexico, transfer the loan to a lender that does let you travel to Mexico.
navegator
