The value of the Canadian dollar is dropping and gas prices are plummeting. U.S. buyers are now looking north-north-of-the-border for quality used vehicles.
The Canadian dollar is now worth 80 cents US – this means a 20 percent saving for US buyers. Domestic vehicles and many imports are export-ready for the U.S. making the sales process much easier.
Americans purchasing a Canadian used car that is less than 25 years old must prove that the vehicle meets U.S. safety and emission requirements. Most cars sold in the U.S. and cars built for the Canadian market meet these requirements.
The sales and export process is made easier in Canada with export-specific tax, licensing and insurance services and processes.
When an American purchases a used Canadian vehicle they, require a bill of sale with the VIN# showing owner of vehicle and the Manufacturer’s Statement/Certificate of Origin, and the vehicle title.
Americans can obtain a temporary license plate / insurance card from the Canadian Province in which you are buying the vehicle and pay the federal Goods and Services Tax (GST) which will be refunded later. American buyers do not pay the Provincial Sales Tax as they are a non-resident of the province.
U.S. buyers who purchase their used vehicle at Victoria Premium Automobiles receive a CarProof report. CarProof is a Canadian provider of vehicle history reports – a critical tool when you’re buying or selling a used vehicle. A CarProof report establishes trust and transparency between a used car buyer and a used car seller by removing the guesswork about a vehicle’s past – replacing it with impartial, accurate and real-time data.
A CarProof report is especially important for U.S. buyers. This report will show the history of the car, including any accidents serious enough to block entry into the U.S. or require additional testing before clearance.
Once U.S. buyers have taken possession of their used vehicle, they must take the vehicle through U.S. Customs. The must have all of the documentation for the vehicle with them when they cross the U.S. border. They will fill out form CBP 7501 and possibly others.
Copies of these forms are on the U.S. CBP website.
Customs officials will inspect the used Canadian car, ensure it matches the paperwork submitted.
In most instances, where all paperwork and documents are in order, the import process can take less than an hour.
U.S. buyers of vehicles made in Canada or the U.S. do not pay importation duties. Foreign-manufactured vehicles may require payment of the following duties: autos, 2.5%; trucks, 25%; motorcycles, between 0% and 2.4%. As a returning U.S. resident, the total amount paid can be reduced by applying the $400 Customs exemption (and those of accompanying family members) toward the value of the vehicle, so long as the buyer is driving it across the border; the used vehicle is for personal use; and the used vehicle was the purchase on that specific trip to Canada.
Victoria Premium Automobiles’ sales professionals have worked with many Americans purchasing used Canadian vehicles. Experienced and knowledgeable, all the uncertainty and guesswork is removed from the process ensuring a simple, straight-forward transfer.
There are many great values and vehicle purchase opportunities north of the border. Give Victoria Premium Automobiles a call and explore your options.