Border letter

Francesca Knowles wrote:

N6761U wrote:
I was just looking at my online statement for the loan on my 5th wheel and noticed something about a Border Letter. After opening it I discovered that in order to take my RV into Canada or Mexico I must first make a request 30 days prior to leaving stating when I will leave and when I will return. In turn they (BofA) will send me a Border Letter (permission slip) to take the RV out of the Country. Has anyone else discovered this with there loans.

Steve

Since the letter came from your loan company, it makes perfect sense to me. As long as you owe on the RV they have an "ownership interest" in it, especially if it's the only collateral on the loan. Keeping it insured is as someone else mentioned very important to such lenders, and out-of-country coverage can be spotty. They probably want to make sure of that protection.

The letter you got from them is just reminding you of these facts- they're telling you right up front that you need their approval (for want of a better word) to take the RV out of the country. Sounds like no big deal to me.

Good insight & reply.

The letter would be the least of my concerns (for MX).

No info on Canada, however.......
*If* you are/were taking your (whatever - car, pickup) vehicle into MX - you better check with your insurance company - and/or secure Mexican insurance for same......which is worth about as much as the paper it's issued on.
(MX insurance agencies have more "outs" than extra innings of a no-hit baseball game! - and they may *not* be in writing!)...:R

No doubt the bank(s) have been on the losing end of accidents (etc.) in Mexico - as by Mexican law, everyone and everything involved in an accident is considered guilty until proven innocent.
Simple -and reasonable- "CYA" on the lender's part.

Innocence (for vehicles) may be quick - or a very long process.
Depends on the circumstances, location, etc.
You could be returning without your vehicle. What does the lien holder do?

(Obviously, if your TV is impounded in MX - could be difficult to tow your 5th back to the USA - and if you hire a tow service for the 5th - you won't get the same "TLC" you would get in the USA, LOL!).

With the current situation in MX - good place to avoid!
Read the US gov travel warnings - and plan accordingly.

YMMV. - Good luck...;)

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