some companies are advertising such a scenario to save up to $10,000. I've been told by acquaintances that all the savings get chopped up by the import taxes. Who's right? thanks
2007-10-06 07:14:47 · 4 answers · asked by Anonymous in Politics & Government ➔ Law & Ethics
Of course you can. The falling dollar is a good thing. Just better pay with cash, because if you may find yourself out of a job as Canadian products become too expensive for American consumers.
2007-10-06 09:07:01 · answer #1 · answered by joe s 6 · 0⤊ 0⤋
Actually lots are heading south and save more than 10k
just the sales taxes of 15% is alot plus our dollar is rising so fast the prices have not stabalized yet.
The borders will be swarmed this weekend for border shopping since its Canadian thanksgiving.
2007-10-06 14:27:32 · answer #2 · answered by Edge Caliber 6 · 0⤊ 0⤋
I think you can save a lot of money. You will still have to file a GST tax return with Revenue Canada on the purchase. If you purchase from a dealer in one of the border states, they should be able to tell you the paperwork involved and help you with its completion.
2007-10-06 15:34:24 · answer #3 · answered by Mark 7 · 0⤊ 0⤋
You save on the pruchase price, and then will lose on the import fees.
Why would the Cdn. gov't allow a situation where everyone would just go to the US to buy a car and not get the fees?
Arbitrage opportunities like you are looking for are rare indeed. the market closes them very rapidly when they occur.
2007-10-06 14:20:51 · answer #4 · answered by Barry C 6 · 0⤊ 0⤋