Moving a car from the U.S. to the DR?

Hello! I really enjoy the forums on here.
We'll be moving to the DR in December (super excited!).
Right now we're trying to figure out how to handle our possessions in the U.S., what to sell and what to bring with us. We bought a new car (financed) 3 months ago and would like to have it shipped to the DR. Are there  banks in the DR that buy out loans (re-finance)? If not, does anyone have experience with successfully moving a financed car from the US to the DR? How did it go? How were you able to convince the bank to let you do that? Or would you recommend an alternate course of action all together?
Thank you!

Easy answer - no. You can not bring a car in that you do not own 100%.

Other items - almost everything is available here. Unless you are shipping using your one time residencia allowance you will pay tax.and duty on it all. That makes it very very expensive.

If you are using your residencial allowed shipment then bring what is important to you remembering there are some rules.and restrictions.

Not only does the car need to be free of debt but you need to have owned it for 2 years and cars shipped here can only be between 2 and 5 years of age.  Easier and not much more expensive to buy one here than ship one from the US.

What part of the DR are you moving to?

Bob K

Thank you for the insight. I was not aware of all these rules! My husband, our 2 kids and I will be moving to Punta Cana. I've heard great things about the area. Have you guys ever been?

Not sure if you're aware of this but a lot of dealerships in the US will buy your car back. I did not like the price Carmax offered so I actually ended up selling it back to the same dealer
That sold it to me in the 1st place. You can buy a decent car in DR for 5k. Cars are more expensive than in the US but shipping and import fees are very high here also so take that into consideration.

This can be true.  I sold our Volvo back to a Volvo dealer when we left the US and got a better price than at CarMax
Do note that cars here new or used are about 35% more than in the US but still many times better than shipping your car here.

Bob K

Buy here, cheaper in the long run,both $$ wise  mentally.  I wanted to ship my 86 cherry Firebird when I moved to Sosua in 2002. Duty was $3,000 plus shipping & cost of regestration  here & extra paperwork needed.  I sold the car in St. Croix for a small profit.  You can network & still find good deals.  If a SUV is not mandatory, get a Toyota or similar small car.  Maintained, they  run forever. Remember that that the only person you need to impress is yourself.  Good luck & welcome to your new life here.

We have bought a total of 4 cars here now (one new and three used) and much easier on the brain and wallet.

Bob K

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