Have a look at few examples before you make such a statement!
So here are 4 samples of 2008 M3 Convertibles selected at random from a sample of vehicles listed at BMW and private dealers on the autotrader.com website in the US!
Mind you I have only considered mileage and have ignored options and dealer extras completely. Which isnt the right comparison because my car is fully loaded but bear with me for a moment!
Here is a link for calculating using today's exchange rate, and the import fee and taxes you would pay for importing a 2008 BMW into Ontario.
The sample of 4 car's prices are as follows:
1. $USD63,900 (Miles: 6,901)
2. $USD63,895 (Miles: 3,031)
3. $USD62,999 (Miles: 3,305)
4. $USD58,895 (Miles: 1,980)
Now, lets play this statistically correct.
The average of these 4 car prices is $USD62422.25 (I assume you can figure this out)
Using todays CASH exchange rate of 0.8584 as verified by bankofcanada and the importcartocanada.com website we can make the calculations!
Lets enter the $USD62,422.25 into the importcartocanada link and voila!
Price Paid After Exchange: $72,719.30 today's rate of 0.8584
Duty Paid: $4,435.88 duty rate of 6.1%
GST Paid: $3,635.97 Canadian GST is 5%
PST Paid: $5,817.54 Ontario PST rate of 8%
Air Conditioning Tax $100.00
RIV Fee: $204.75
Your cost after Import & Registration: $86,913.44
This Vehicle may be subject to an additional excise tax if it consumes more than 13L of fuel per 100km.
So MR. tyrewt how am I off by $10-20K?
1. My asking price is $85,900
2. My car is Canadian, better resale value
3. BMW Maintenance plan 4yrs/80KM on US cars is void in Canada
(ask BMW Canada, Kevin Rendl and Lindsay have verified this)
4. I have a fully loaded vehicle whereas the ones in the US maybe not. Not saying all of them are but some may not have the exact options as mine.
5. Tints, 3M Bumper, Hood, doors, mirrors, fenders, rockerpanels etc., Original Car Cover, Satellite Radio etc. (Equates to dealer options I mentioned earlier)
So infact you have just proven to me that my price of $85,900 on my 2008 M3 Convertible is infact a bargain!
Thanks tyrewt, maybe I should buy you a beer