Good Sam Club Open Roads Forum: TIP for financed passenger car
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 > TIP for financed passenger car

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Wm.Elliot

Northeast

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Posted: 10/08/20 07:04am Link  |  Quote  |  Print  |  Notify Moderator

Just double checking... Last I knew financed car owners needed a letter of permission from the title holder to get a TIP. In Maine we do not get a title until the vehicle is paid off. I am used to providing a title - will a letter and a registration suffice?





MarkTwain

Northern, Ca. , USA

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Posted: 10/08/20 07:43am Link  |  Quote  |  Print  |  Notify Moderator

Wm.Elliot wrote:

Just double checking... Last I knew financed car owners needed a letter of permission from the title holder to get a TIP. In Maine we do not get a title until the vehicle is paid off. I am used to providing a title - will a letter and a registration suffice?


I had the letter of permission notarized.

BurbMan

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Posted: 10/08/20 08:35am Link  |  Quote  |  Print  |  Notify Moderator

What's a TIP? In NY, the owner gets the title right away, with the finance company listed on the title as the lienholder.


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bukhrn

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Posted: 10/08/20 09:54am Link  |  Quote  |  Print  |  Notify Moderator

VA. Is like Maine, we don't get the Title untill the lean is cleared. But I have to agree with Burbman, What's a TIP?


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time2roll

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Posted: 10/08/20 10:23am Link  |  Quote  |  Print  |  Notify Moderator

In CA the lender holds the title and is listed as a lienholder on the registration.

Generally the lien needs to be settled before you can sell or at the time of sale. Will require payoff or the new owner will need to get the lender approval to take over payments. Best to get a new loan.

What are you trying to do? What purpose does the TIP serve?


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bob213

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Posted: 10/08/20 10:32am Link  |  Quote  |  Print  |  Notify Moderator

Temporary Import Permit...rules here:
TIP


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BurbMan

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Posted: 10/08/20 11:32am Link  |  Quote  |  Print  |  Notify Moderator

So it says you need a notarized letter of permission from the lienholder, regardless of who holds the title. I can't imagine any bank or finance company would provide such a letter, because I'll bet it's all but impossible for them to repo the car if it's in MX and you stop paying.

Talleyho69

Playa la Ropa, Zihuatanejo, Mexico

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Posted: 10/08/20 01:03pm Link  |  Quote  |  Print  |  Notify Moderator

Actually I have spoken to a number of people with financed or leased vehicles and have heard of no problems getting the letter as long as they prove Mexican Insurance.

BurbMan

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Posted: 10/08/20 02:11pm Link  |  Quote  |  Print  |  Notify Moderator

Interesting, good to know! Actually I was not familiar with this whole thing, I would have just driven around down there...

Talleyho69

Playa la Ropa, Zihuatanejo, Mexico

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Posted: 10/08/20 02:13pm Link  |  Quote  |  Print  |  Notify Moderator

Fortunately, there is a lot of great information on line about how to visit Mexico and South America. Check out the stickies at the top of this forum.

Sometimes we forget that Canada and Mexico are foreign countries. Whenever you visit ANY foreign country it's important to check out the VISA requirements at the very least.

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