How do I get a car loan for an imported vehicle?

Answered by Car Loans Expert Eric on February 11, 2021

I'd like to import a BMW that I've been coveting for years, but I can only buy it with a car loan. How do I get a loan?

expert avatar


Car Loans Expert

Getting a car loan for an imported vehicle is very similar to getting a car loan for a vehicle already on American shores. Nevertheless, the loan process has some key differences.

If the vehicle is over 25 years old, you may find that banks aren’t willing to lend you the money. However, you can overcome this if you can secure a classic car loan. Oftentimes the rates are a bit higher, but you can still walk away with the money you need for the purchase. Furthermore, you may need to get the proper documentation (based on the lender’s requirements) in order to obtain the loan.

In addition, you need to go through the proper channels to import the vehicle. This means that you’ll have to contact the Environmental Protection Agency to ensure the vehicle meets emission standards, as well as U.S. Customs and Border Protection. Keep in mind that you may have to pay a tariff for importing the vehicle, so factor that into your budget. You can usually pay this in cash, or you may be able to roll it over into your car loan.

Car Loans

Have an insurance question?

Our insurance agents are ready to help you, for free.

Ask your question, it’s 100% free
Thousands of customers saved on average $887/year on their car insurance with Jerry
This app is great, but the customer service is even better! Not to mention convenient! My husband and I got the lowest rate (much lower than the rates I was finding online through my own searches), quickly, and pretty much all through text message! Thank you so much for a hassle free experience👍
Gabriella R.
Find savings (100% Free)
stars4.6/5 Rating on App Store