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Old 11-15-2017, 07:51 PM   #1
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Buying a new car in Canada..anyone?

I figured this would be the best place to put this, because Geography. Has anyone ever financed a new car as a US resident that they purchased new from a dealer in canada, with the sole purpose of bringing it back to the states?

I've looked up importation, thats not an issue, financing is where i'm coming up short on information...Obtaining a car loan from a bank here on a car I am purchasing across the border with intention of bringing it back here to the states where I live (permanent resident.) I can't imagine that this has never been done before..so I thought I would ask and see if anyone could chime in with some information if they might happen to know, I'd really appreciate it!

Reason why I'm asking is I really like the 2018 CX-3...and for some reason, the usdm does not offer it with a manual transmission, but the canadian market does..yes, I'm willing to purchase it in canada just to have a manual transmission.
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Old 11-15-2017, 08:30 PM   #2
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If you are really serious about paying extra for a car just to take it south there really shouldn't be any issues where you get the money from. I would expect it would be easier to get the money from a US bank on the basis that a Canadian Bank or finance company wouldn't want the risk of you taking the car south and then not making anymore payments. The cost of trying to collect money from you across the border would be higher and more problematic than most financers would want to accept without charging a super high interest rate or up front surcharge. With that also check which province you want to buy the car from for the local provincial taxes (up to 17%) and if you would get that money back when you crossed the border with the car. The tax has many names HST (Holly **** {that's high} tax), PST (Positively screwing you tax) and GST (Gouge and screw tax), the lowest taxed province is Alberta at 5%. I just bought out a leased 2016 car from someone who was moving to Seattle and said he didn't want to deal with the importation duties for a car he needed to upsize when the next baby was born in 5 months time.
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Old 11-15-2017, 09:45 PM   #3
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If you are really serious about paying extra for a car just to take it south there really shouldn't be any issues where you get the money from. I would expect it would be easier to get the money from a US bank on the basis that a Canadian Bank or finance company wouldn't want the risk of you taking the car south and then not making anymore payments. The cost of trying to collect money from you across the border would be higher and more problematic than most financers would want to accept without charging a super high interest rate or up front surcharge. With that also check which province you want to buy the car from for the local provincial taxes (up to 17%) and if you would get that money back when you crossed the border with the car. The tax has many names HST (Holly **** {that's high} tax), PST (Positively screwing you tax) and GST (Gouge and screw tax), the lowest taxed province is Alberta at 5%. I just bought out a leased 2016 car from someone who was moving to Seattle and said he didn't want to deal with the importation duties for a car he needed to upsize when the next baby was born in 5 months time.
Yeah, for some reason the US market did not get the CX3 with an available six speed manual...but Canada did. I can't be the first american thats bought a new car from a dealer in Canada and took it home (and financed.) I know we can claim an exemption from some importation tax because we are allowed x amount of dollars of goods to bring back with us. But as far as tax at purchase, I believe from what I've read anything paid in Canada for purchase taxes would come off the taxes we would pay to register and title the car in the states (found this on the us customs website and dot website I believe.)

My real question is, will a bank in the us finance the purchase since its in Canada..May have to just call a few large banks and see. Like I said, I can't be the first person that has wanted to do this so...id think it would be doable. But i'll find out soon enough. Hopefully someone here might have done this, or knows someone that has. Luckily since it complies with all emissions and safety standards, thats one less hoop to jump through. Mazda will even send a copy of the certification to hand over to the customs agents at the border.
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Old 11-16-2017, 10:46 AM   #4
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DISCLAIMER: I'm not trying to tell you you're wrong or stupid or anything. I just want to make sure that you're buying the correct car.

Let me take a step back with you from the purchase question to make sure you're buying the right vehicle.

I have a 2016 CX-3 and like it but it comes with some caveats.

First, it's the size of a Mazda 2. Literally. It's tiny. This is a pro for me living near downtown Chicago with no kids but if you don't need the tiny size, this is a con.

Second, the engine is tiny. 146 blistering HP. You can get the Mazda 3 Touring Hatchback with the 2.5L 184 HP engine AND a manual gearbox. You're going to notice the 25% greater HP.

Third, it costs less than a similarly spec'd Mazda 3. That Mazda 3 with the bigger engine and manual? US$20k. CX-3 Touring FWD? US$22k.

Fourth, the CX-3 doesn't have the ground clearance you think it does. It's the same as the Mazda 3. Both 6.1". So, they're both going to get beached at the same snow depth.

There are only two reasons why you should buy a CX-3 over a Mazda 3 hatchback:
1) You need something tiny.
2) You MUST have AWD.

The price difference between a Mazda 3 Touring with 6MT and a CX-3 Touring AWD is enough for a second set of wheels with snow tires and FWD on snow tires beats AWD on NoSeasons. Add on the extra cost of paying Canadian pricing and whatever import taxes and stuff and you can probably get a SECOND set of snow tires for the Mazda 3.

Again, I like my CX-3 and have no regrets purchasing it but it's definitely not for everyone and Mazda make a better car for less money that will work for more people.

Last edited by NotAPreppie; 11-16-2017 at 10:49 AM.
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Old 11-16-2017, 01:45 PM   #5
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Check that Mazda US will honour the warranty of a car sold in Canada. When we buy cars from the US, not all manufacturers honour the warranty. VW in particular took a long time to come around.

As for financing, can you not take out a personal loan or line of credit and not even mention the car? I would never sign up for car financing unless it's 0 percent, because of the strings attached.

Also, if you cross the border with financial instruments over CAD 10,000, it's kind of a big deal. All legit, but you have to declare it and I'm not super sure what happens then.
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Old 11-16-2017, 02:00 PM   #6
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I doubt there are many financial institutions that will provide a US$20k loan without some kind of collateral.
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Old 11-16-2017, 10:53 PM   #7
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Originally Posted by NotAPreppie View Post
DISCLAIMER: I'm not trying to tell you you're wrong or stupid or anything. I just want to make sure that you're buying the correct car.

Let me take a step back with you from the purchase question to make sure you're buying the right vehicle.

I have a 2016 CX-3 and like it but it comes with some caveats.

First, it's the size of a Mazda 2. Literally. It's tiny. This is a pro for me living near downtown Chicago with no kids but if you don't need the tiny size, this is a con.

Second, the engine is tiny. 146 blistering HP. You can get the Mazda 3 Touring Hatchback with the 2.5L 184 HP engine AND a manual gearbox. You're going to notice the 25% greater HP.

Third, it costs less than a similarly spec'd Mazda 3. That Mazda 3 with the bigger engine and manual? US$20k. CX-3 Touring FWD? US$22k.

Fourth, the CX-3 doesn't have the ground clearance you think it does. It's the same as the Mazda 3. Both 6.1". So, they're both going to get beached at the same snow depth.

There are only two reasons why you should buy a CX-3 over a Mazda 3 hatchback:
1) You need something tiny.
2) You MUST have AWD.

The price difference between a Mazda 3 Touring with 6MT and a CX-3 Touring AWD is enough for a second set of wheels with snow tires and FWD on snow tires beats AWD on NoSeasons. Add on the extra cost of paying Canadian pricing and whatever import taxes and stuff and you can probably get a SECOND set of snow tires for the Mazda 3.

Again, I like my CX-3 and have no regrets purchasing it but it's definitely not for everyone and Mazda make a better car for less money that will work for more people.

Not too much concerned with ground clearance for snow. The farthest north this car would see is NC. Specifically looking into getting the CX-3 because, well, we like it, haha. Unfortunately the only version of the CX-3 Canada has is the base model FWD version.

Moreso we want it because it was fun to drive, we like the size and amount of room it has (doesn't seem like too much or not enough.) Plus the manual transmission in it would be great to have in a crossover..Just something we want lol. I know it doesn't make much sense but we Loved the CX-3, drove one as a rental for a few days, and determined must have, but with manual tranny...soo buying from canada is where we will have to go.

I need to call my bank and see if they would finance it. I can't be the only american thats done this.
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Old 11-17-2017, 08:36 AM   #8
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You might be.
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Old 11-17-2017, 08:01 PM   #9
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Cost breakdown in Alberta for a CX3 GX with Manual
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Last edited by northzone; 11-17-2017 at 08:11 PM.
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Old 11-17-2017, 08:07 PM   #10
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Cost breakdown in Ontario - the taxes change the price a lot if you can't get them back.
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Last edited by northzone; 11-17-2017 at 08:19 PM.
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Old 11-21-2017, 01:14 AM   #11
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I sat in a CX-3 today at the dealer and I agree with anyone who said it's tiny.
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Old 11-21-2017, 08:09 AM   #12
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Yah, it's small but I was surprised at how much smaller my boss's Ford Escape felt inside. I think it's the dash on the escape but it feels much more like a cocoon than my CX-3.
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