If your vehicle is financed or leased or even borrowed from friends or family, you can take it to Mexico, and even get it insured. However, there are a few things you should know.
- You will need a letter of permission from the owner of the vehicle. If you are borrowing from a friend or family we recommend that the letter be notarized, and state their name and your name stating that they give you permission to have the vehicle in Mexico. This may seem like a lot of trouble, but driving someone else’s vehicle in a foreign country can raise a few eyebrows. Then, simply insure the vehicle under the registered owners name and list yourself as an additional driver.
- Finance companies typically have a process for this. They will have specific coverage requirements, such as minimum liability limits as well maximum deductibles. Most importantly they will want their name and address to appear correctly on the policy. This may vary from what is on your bill. We recommend ensuring you are familiar with all the requirements of your finance company before purchasing insurance.
- If the vehicle is financed or leased your contract may prohibit you form taking the vehicle into a foreign country. Or they may not allow it if you are not current, or many, many other reasons.
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