Where the hell are you getting this number from? The NSX is specifically not in any black book, red book, gold book, blue book, etc. because of it's limited nature. Price is set by market value/demand. There isn't a single insurance company that would claim the value of the NSX is 17K.
Your information is incorrect, of course the NSX is listed in a variety of wholesale/retail books. When you say blue book you're referring to Kelley's
which is the best known:
http://en.wikipedia.org/wiki/Kelley_Blue_Book
You can play with it online, kbb.com and yes you'll notice the NSX has values listed for all years. Insurance definitely has their own set of values. Just for kicks, you should look into it. Ask your agent them what book value they have listed for your car. You may be shocked.
Just for the record, I'm a licensed auto broker in Ontario. I can tell you for a fact that right in this soft market book value means just about nothing when it comes to buying and selling. Most dealers are offering 50-60% of the book value for trades. The market is DEAD.
That's simply absurd. I don't have a private appraisal on my '91 and my policy will pay out for replacement value which is more in line with the mid 30's low 40's depending on year, condition, and aftermarket components if any.
You might want to double check on that with your policy holder. Although most will pay replacement value, your premiums are based on their book value of the car (which I bet is $15-20K). When you try to get replace it for $40K, they are going to take issue with that. The idea being that they charged you a monthly premium under the assumption that your car was somewhere near the book value. If you're saying your car is worth double book value, you'd need an appraisal to prove it. And they'll raise your rate appropriately.
Add current conversion rate for CDN/USD is $0.82 on the dollar - 21% with the days buy and sell rates.
Add 6.2% duty on any car older than 1993....
Add provincial tax on top of all the above for all provinces except for Alberta
Add GST @ 5%
Purchase from a private CDN seller and you can do away with all of the above adds. Purchase from a deal and you will still be stuck with the GST and PST depending on what province you are located in.
You're on the right track, but some of the above is off:
Yes, there is a dollar exchange rate to consider.
Yes, there is GST on a dealer purchased car (the example here is a dealer anyways)
Duty is 6.1% on foreign build cars, doesn't matter the age.
Provincial tax (8% in ontario) going to be paid on both private and dealer sales. So yes, buying from a dealer in Canada will cost you 5% more.
Find a US car with high mileage (because they are more likely to be able to drive it more months of the year that those in Canada) and you are likely to pay low to mid 20's.
There are lots of high and low mileage cars in the states to pick from. 10x more cars were sold in the states so I see it as the opposite - a much larger pool of choice to find your year/colour/mileage preference.
Assuming 25K USD, that works out to $30.5K after exchange, $32.4K after duty, $34K after GST, ?? if PST is applicable, and then to top it all off, a nominal $1-1.5K USD to transport it if you don't live close to the sellers location, plus brokerage efforts of $500.00ish, and out of province inspections @ $200.00.
As long as you compare apples with apples. In the example shown, assuming asking price he would have paid $39,900 + GST/PST which is ~$45,198 plus transit if he's not close.
From the states, assuming $25K, your going to pay conversion plus duty/GST/PST+ ~$200 RIV if it's a 94. With a 93, there is no RIV.
That's ~$36,000 canadian + transit costs.
So the US car is almost $10,000cdn cheaper, but a little more work to get.
I've purchased 5 of my last 6 rides from the US in the past 8 years. The NSX was the only one I purchased in Canada for the exact reasons noted above.
I'm not saying Canadian cars shouldn't be considered. I just said I wouldn't personally pay a premium for a car just because it was originally from Canada. Personally, I'd rather have the $9,000 (~20% savings) and drive the US car.
But to each his own...
