03-24-2010, 11:11 AM | #43 |
Drives: Highlander Hybrid, Durango, TurboPT Join Date: Feb 2010
Location: Ajax, ON
Posts: 28
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It's not really a tax credit, but it is a reduction in the amount of tax you pay. For example, if you buy a new Camaro for $45k and have no trade in then you pay PST & GST (HST eventually) on $45k. However, if you trade in a vehicle worth $20k, then you would only pay PST & GST (HST eventually) on the difference between the purchase price and your trade in ($45k (purchase price - trade-in value $20k) so you'd pay PST & GST (HST eventually) on $25k.
That's how it works in Ontario anyway. The current benefit of selling privately is the potential buyer only has to pay PST, so technically you as the seller and the potential buyer could "share" the GST savings & dealer mark-up (profit). So you usually get more $ selling it privately and they save money because they can usually pay you more then a dealer will and don't have to pay the GST. With the HST, one of the benefits is removed. So the higher value of your trade-in vehicle the more beneficial it becomes to trade-in as opposed to selling privately. |
03-24-2010, 10:19 PM | #44 |
HP addict
Drives: 2 SS RS, Join Date: Jan 2010
Location: Surrey BC Canada
Posts: 889
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Sales tax on used cars is absolutely criminal. Immoral. Its fundamentally WRONG that we have to pay a sales tax on used anything. I'm sure some cars end up generating more tax for the taxmana then the actiual original cost of a vehicle over its life.
I'm a law abidding, tax paying, honest citizen but this issue is bulls**t. THAT is why I'm getting my mods done.....amongst a number of reasons....in Calgary |
03-24-2010, 11:14 PM | #45 |
Drives: 69 Chevelle SS396 2013 ZL1 Join Date: Mar 2010
Location: West
Posts: 700
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If you bought a Camaro in the US and brought it back thru Alberta and registered it there, do you only pay 5% GST at the border? They have no PST, right?
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03-25-2010, 12:00 AM | #46 | |
HP addict
Drives: 2 SS RS, Join Date: Jan 2010
Location: Surrey BC Canada
Posts: 889
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Quote:
PST is unavoidable on the car but not the mods. |
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03-25-2010, 01:45 AM | #47 |
2010 SIM Beige RS 6M
Drives: SIM RS 6M 66 Corvair Silverado LTZ Join Date: Oct 2008
Location: Kamloops,British Columbia
Posts: 4,677
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Finally some one who knows what he is talking about!
Bravo!
__________________
CAMARO.. 2010 The Heart Beat is back in CHEVROLET
Now let's put it back in America |
10-04-2013, 08:00 AM | #48 |
Drives: Getting 2010 Camaro Join Date: Jul 2008
Location: Vancouver
Posts: 1,149
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Found this old thread, looks like there is a $10,000 savings if buying a new 2SS in the US.
Does anyone know if dealers in the states still can't sell to a CND? I have a friend in Washington state, maybe I could get him to register the car first? any help would be greatly appreciated, thanks guys. |
10-04-2013, 08:37 AM | #49 |
Drives: 2011 2LT White, 1966 TBird conv. Join Date: May 2010
Location: Ottawa Ontario
Posts: 682
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To my knowledge GM still restricts new car sales to Canadians in border states. Used cars not an issue. You might have better luck traveling to a dealership further down into the states. Issue with your friend in Washington registering the car there, he will have to buy to register himself and pay state taxes. Then you will have to buy from him and when imported pay Canadian taxes. Still would most likely save you money. I have imported a few older cars from the states. Last car bought in South Carolina, just paid min. fee for 30 day tags, did not have to pay SC sales tax as I had a Canadian address and was exporting. Each state might be different.
Just keep in mind the time limit and km restrictions GM Canada puts on new cars bought in the states. Sucks, Ford Canada has no such warrenty restrictions for cross border purchases and no dealer restrictions selling to Canadians (at least they didn't last time I checked). |
10-04-2013, 08:56 AM | #50 | |
Drives: Getting 2010 Camaro Join Date: Jul 2008
Location: Vancouver
Posts: 1,149
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Quote:
if not then I guess i gotta ask my friend in Washington for a big favour. does he have to keep the car in his name for a certain time period or could he transfer over to my name the next day?? worse case scenario is I buy a car up here, but that $6000-8000 I don't save is really going to cut into my parts I wanna buy |
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10-04-2013, 12:12 PM | #51 |
Drives: 2017 Jeep Rubicon, 2016 Z06 Join Date: Jun 2012
Location: Abbotsford B.C. Canada
Posts: 547
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I have one for sale priced right in Vancouver with 2000 kms on it.You will not save 15k bringing a ZL1 up from the USA.
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10-04-2013, 01:05 PM | #52 | |
Nova Daddy
Drives: 2012 Cummins/1972 Nova 2 door coupe Join Date: Nov 2010
Location: Cochrane, Alberta Canada
Posts: 155
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Quote:
BTW I have a 2013 BRM 2SS 1LE for sale. Bought it from state side. Need $43000 to cover costs. 15000 kms on it. PM if interested if not no worries. |
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10-04-2013, 01:43 PM | #53 |
Drives: 67RS Camaro ,Black 2013 ZL1 Join Date: Jun 2010
Location: Alberta
Posts: 1,408
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10-04-2013, 06:41 PM | #54 |
Drives: 2017 Jeep Rubicon, 2016 Z06 Join Date: Jun 2012
Location: Abbotsford B.C. Canada
Posts: 547
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10-04-2013, 10:31 PM | #55 |
Drives: aqua 2ss l99 Join Date: Jun 2009
Location: Edmonton
Posts: 1,215
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my cousin paid 75k for his zl1....doah.
__________________
May your exhaust note, sing in harmony with your blower.
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10-05-2013, 01:03 AM | #56 |
Drives: 2010 Camaro 2SS/RS LS3 IOM Join Date: Aug 2012
Location: Calgary, Alberta, Canada
Posts: 1,523
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When I did my research, buying a car from the states (if the dealership will even sell it to you) meant no warranty in Canada for 6 months and 12,000 miles. I bought a 2010, first model year, so I didn't want to take the chance with no warranty.
There is a lot of paperwork to deal with importing a car as well, but as many will tell you, you will end up saving money, and most likely a lot of it.
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