Shipping a Leased or Financed Car in the Contiguous United States
- Read Your Lease or Loan Contract. Most likely your lease or loan contract has a section on shipping your car.
- Call Your Lien Holder. Call your bank or lienholder and ask them about their car shipping policies.
- Call the Auto Shipping Company.
What is a good interest rate for a car for 72 months?
The average 72-month auto loan rate is almost 0.3% higher than the typical 36-month loan’s interest rate for new cars.
Loans under 60 months have lower interest rates for new cars.
| Loan term |
Average interest rate |
| 60-month used car loan |
4.17% APR |
| 72-month used car loan |
4.07% APR |
Is shipping a car a good idea?
If you are moving more than 300 miles away, then we highly recommend shipping your car. Driving is feasible for most people when it is around 300 miles at the most, and the car is relatively new. If the distance is longer, or the vehicle is a bit older, then you are better off shipping it.
Can I ship a financed car to another country?
Many lenders will not let you move your vehicle overseas. Make sure before you sign the loan contract that your lender will allow the vehicle you intend to buy to be taken out of the country. Get it in writing that the lender will allow you to move your vehicle overseas.
How do I ship a financed car? – Related Questions
What is the cheapest way to ship a car overseas?
The cheapest kind of international car shipping is a RORO vessel. This shipping method is often more affordable for shipping cars than containers or air freight. However, it also leaves your vehicle more susceptible to damage during transport to your final destination.
Can I export a financed car?
Can I Export a Financed Car? It is more difficult to export a car from the United States with an active loan, but it is possible. If you have an outstanding lien on your vehicle, the best thing you could do is have it removed. This requires that you pay off the loan and then have the lender submit a lien release.
Can you ship a financed car overseas from Canada?
However, if the car’s financed or leased and there’s a lien on it, you’ll need to provide proof in the form of a notarized bank letter acknowledging the shipment.
Can I ship a leased car overseas?
If your vehicle has a lien, and you are exporting outside of the country of origin, you must provide a lien holder authorization letter. Please contact your lien holder to obtain this document. If your vehicle is leased, you are required to provide a letter authorizing the exportation of your vehicle.
Can I move my financed car to Canada?
Driving to Canada in a financed vehicle places no additional restrictions. As long as all legalities are met, you’re free to drive into and through Canada with no issues. You do not need to contact or notify your lender of your travel plans.
Can I ship a financed car from Puerto Rico?
Loan on the Vehicle: If you have a loan on your vehicle or are renting it, you must have a Lien Holder letter authorizing the export of your POV from Puerto Rico. Engage the lien holder (bank) and shipper early to determine their process and if they have any specific requirements.
Where is the cheapest way to ship a car to Puerto Rico?
Puerto Rico car shipping prices
Jacksonville is the cheapest port to ship your car from since it’s the closest. Once you drop off your car you can catch a direct flight to San Juan from Jacksonville International Airport. I paid roughly $1,200 to ship my car from Jacksonville to San Juan.
How much it cost to ship a car to Puerto Rico?
On average, shipping a car from the mainland United States to Puerto Rico can cost anywhere from $1,500 to $5,000 depending on the total distance, size and type of vehicle you transport, the type of transport you are using and even the time of year.
What are the taxes to ship a car to Puerto Rico?
All imported vehicles are subjected to an excise tax. There is a wide range of tax and import duties depending on the type and age of the vehicle, but you should expect to pay no less than 5% of the car’s worth. Through Hacienda, the Puerto Rico tax collector’s office, you can calculate all the duties due.
Are shipping rates the same to Puerto Rico?
As long as you use USPS, shipments to Puerto Rico cost the same as shipments to any other part of the US. You don’t even have to include a customs form. If you use USPS, shipping to Puerto Rico costs the same as shipments made to any other part of the U.S., and you don’t need a customs form.
Why are cars so expensive in Puerto Rico?
Overall, car rental locations in Puerto Rico are more expensive than in other Latin American countries, due to the taxes and the high demand for vehicles.
Why is Puerto Rico considered a tax haven?
Puerto Rico is a US territory, which means that all income generated in Puerto Rico is exempt from additional US federal tax. Other tax advantages: Under Act 22 (Individual Investors Act), qualifying Puerto Rico residents are 100% exempted from capital gains tax.