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I did not declare car loan in my Proof of Funds. Can I still do soft landing with the same car?

Hi Everyone,

So I received my ITA and I submitted my all documents precisely. However, I did not declare my loan because its brand new 2019 model on which I owe about $20k. I was reading other forums and one person’s file got into trouble because his car loan was as high as mine and actual funds were just CAD 15k. I heard alot of people got their PR and did not declare their car loan in U.S. I do not have money to pay off my car. If I sell my self I cannot pay the difference on negative equity as well. I was planning to do a soft landing but I am really worried that I will be trouble at Canada POE because I did not declare my car loan in my profile. What should I do in this case? Please help.

I don’t think it would be an issue. A lot of people don’t declare their debts and their applications get processed fine.

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Right but what about doing a soft landing by car that is still financed in the USA (WellsFargo is fine with me exporting my car) at POE and I did not declare that car in my actual profile with IRCC. They are not gonna say where the car came from? you did not declare it in Proof of Funds! Then I am screwed if this happens.

I haven’t read or heard about anyone’s soft landing experience where they were asked whether they had debt on the car they were doing soft landing with and whether it was declared in the PoF. At most people are asked whether the car they are driving is owned or rented, and if it is owned whether they plan on bringing it into Canada, in which case it needs to be declared in the Goods Accompanying/Goods to Follow list depending on whether the person is doing a soft landing or moving for good.

All they care about is that you have enough funds to take care of yourself when you get to Canada. I think you are overthinking this. If anyone in this community has come across such an experience they’d definitely respond to you.

Also please refrain from posting the same query in multiple threads, especially the ones which are irrelevant to your issue since they will be flagged and removed by the admins.

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Thank you. I apologize about posting my question on multiple threads. I am just very much in dilemna about trouble at soft landing by my new car that is not declared in PoF.

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No worries. It just gets inconvenient when there are multiple threads trying to answer the same query. We would like to streamline relevant information in one thread so that the next person who has the same problem can find all the info in one place, instead of searching through the entire community. :slight_smile:

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:slight_smile: Thank you so much for your feedback and answer.

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I mean, I’ve posted on this topic so many times.

  1. They are not looking to add all debt, subtracts from funds and say here is your net funds.
  2. They are looking for overall financial profile.
  3. Do you not intend to take your car with you up north?
  4. Did you get you landing visa already? If not just don’t mention the car.
  5. While applying I mentioned one of my cars. Before landing I took up a loan for a new car, and didn’t mention it during the soft landing. Nothing happened.

In the end, rule of thumb. Mentioning car and other debt shows your financial profile. It does not count against you. I believe the other person might have gotten into trouble because of omitting the loan not cause of net funds.

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Hi Vignesh,

I have a question here. I live in US and have been saving funds in a bank for canada since a year and my average balance would show up around $16,000 USD (for a family of 3 in total).

I have other accounts in other bank where i have around same or more money in loans or credit card debts.
Do i need to declare this in my profile? Can they verify the information about my debts if i dont provide them?
Im still in pool waiting to get invitation.

Thanks

You don’t need to declare debts if you don’t want to. They cannot verify the same. Please check @vignesh.pr’s post above for more information.

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They can’t verify your debts. The intent to share your debt is to be truthful, and provide an overview that you are not a financial risk. It is as simple as that.

As I stated, I have a mortgage and Car loans. I still declared both. It’s personal preference. I followed a basic personal rule. Give them all the relevant information that supports my PR application.

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@vignesh.pr Thank you for your input. However, the post I saw from a guy in some other online forum did not say anything about omitting the loan. He showed the car loan in his POF, got this in his GCMS notes.

"So I just got my GCMS notes and the Eligibility shows “Review Required” due to POF, though I have more than the required amount in my account.

"When I go to the comments section to understand what is going on I find the following “Review Required Approx CAD $xxxx(less than the required amount) - CAD $xxxx(more than the required amount) as per Bank Statement. Family of 2 requires CAD $15,531 NOTE: PA has a mortgage balance of XXXXX and other loan of CAD $xxxxxx. PA states in client Info EDOC # XXXXXX the second loan is for a car, however total sum of available finances takes into account balance owing for second loan” "

Later he asked in the forum that Isn’t it true that car loans should not affect the POF? Why are they subtracting my car loan from my total POF?

Looking at this, I did not declare my car loan just to avoid any problem since this can affect my life.

I do not have the Landing Visa yet. My CRS score is 1005 points with PNP points included. But I believe that they will deduct my masters degree points because I have done my masters from nationally accredited university in the United States.

I do not want to sell my car. I want to take it with me and cross the border and I am in so much dilemma if the Port of Entry officer find out that I did not declare my loan in my Express Entry profile POF.

Well, you’ve declared it already. Things to consider in his profile, how did the funds come? Remember, they are looking for steady and stable $16,000 or whatever amount each application needs. Sudden increase can also lead to questioning the source of funds.

I can’t speak to his application. I think you are fine, you can declare your car when you are moving north. It’s not like you will not make purchases after they give you the visa.

Also - please take all recommendations here with a grain of salt. We are providing guidance based on our experience and what we think makes sense as we went through the process.

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Thank you. I did gift deed and affidavits for funds I received from my father therefore everything else in POF should hopefully be fine. I passed my medicals and now I am on IP2. They requested my bio-metrics on July 17. Fingers crossed everything goes well hopefully.