U.S. Banks and Liens on an RV
by Sandy and Rob
From Vancouver, B.C. we located the ideal used RV on Craigslist in Spokane WA, a good 7-hour drive from home. We had AIM inspect it and did the history check and it passed with flying colors.
The sellers price was the lien amount owing to
their Credit Union; a great price for the unit!
The seller talked with their Credit Union, told them it was Canadians buying the RV, set up a mutually-agreeable appointment time and let us know what paperwork we'd need to finalize the deal. The Credit Union asked for a bank draft made in U.S. funds for payment on the lien. Once the paperwork was completed we could go on our merry way with our lovely RV.
We got there, everything was then signed and stamped, the CU staff went to process the draft and discovered from their head office that the draft needed to be drawn from a U.S. bank. It would take 5 working days for them to clear the draft with H.O.; could we please come back in 5 days to take possession of the vehicle.
The moral to this story is, do the leg-work yourself. The arrangements that we handled throughout the exporting/importing process went pretty smoothly. The one we left to others, not so great.
We found that many of the U.S. and Canadian agencies we dealt with in this process didn't have all the facts right. Thankfully, the sellers were lovely people and let us take the RV that was 'officially' still licensed and insured in their name. We parked it in storage near our U.S./Canada border. Once the draft cleared the CU FedXed all our paperwork, we got a US permit, and a new CD insurance binder to bring the RV home to B.C.