The strength of the Canadian dollar has prompted an increase in the number of people crossing the border to take advantage of seemingly lower vehicle costs in the United States.  But is it really worth it?

Before you head south to purchase a new vehicle, consider this information from the Alberta Motor Vehicle Industry Council.

Not all vehicles are admissible in Canada. Check with the Registrar of Imported Vehicles (RIV) at www.riv.ca or call 1.888.848.8240 to ensure the vehicle you want is admissible.

When you compare the cost of buying across the border to buying in Alberta, be sure to include these extra costs:

• Transportation – whether you travel to pick up the vehicle yourself, or have it shipped, you will incur additional costs.  Shipping costs generally amount to at least $1500.
• GST – you will be required to pay GST on the cost of the vehicle at the border.
• Registrar of Imported Vehicles fee - RIV requires the completion of a Vehicle Import Form which will cost $195 plus GST.
• Provincial Out of Province Inspection – costs vary by vehicle and brand new vehicles may be exempt.

In addition to these extra fees, there are a number of other process requirements that, if not followed properly, could result in costly fines.  More detailed information can be found at www.riv.ca.

One final thing to keep in mind is that manufacturer financing is not available to Canadians purchasing vehicles in the United States.  Be sure to discuss the purchase with your Servus Credit Union Financial Advisor and arrange financing before making the purchase.  Our competitive financing options and exchange rates can save you even more money.