touringteg

It is good for both the buyer and seller to have a copy of the bill of sale. I did one for my US buyer as well.

That sounds correct. It depends on the institutions sending and receiving. It can take 1 - 5 business days to receive a US wire according to my credit union in BC Canada. My US buyer wired $10k CAD via wire and it took 2 business days before it was received and I could access the funds.

My institution took a $10 CAD fee to receive the wire plus another $22 CAD for an intermediary bank. As he seller I ate the fees while the buyer paid the fee to send the wire.

dave7

Thanks for sharing that man. So I started the wire Monday afternoon and had it approved, but it was after hours. The wire was sent out Tues morning. Then it actually was deposited into the sellers account Tues afternoon (today). So in this case, the wire seemed to happen pretty fast. But the seller said that he didn't get the best exchange rate, though I don't think he was charged any fees. I paid a nominal fee on my end.

touringteg

You're welcome. That was quick.

I actually insisted that my US buyer wire in CAD funds for two reasons. One was that banks like to charge approximately 2.5% above the posted rate to convert. (Adds up quickly on a 71k CAD / 53k USD purchase). Second is that the CAD has been getting stronger against the USD lately making the USD less valuable to a Canadian.

My buyer picked up the car in person and paid the balance with a draft in CAD funds. If I had a major purchase to make in US funds, was willing to hold USD in an account, or thought the USD was getting stronger versus CAD I would have happily accepted USD.

dave7

In this case then it's probably good the seller wasn't selling a much more expensive car, because of the current exchange rate situation like you said.

Yep I remember the stuff about exchange rates from econ class haha.

Next task, get the shipping set up! The shipper that I contacted is still looking for a broker.

touringteg

Not sure if they have tried A&A https://www.aacb.com/
I've had an account with them for years

Good luck!

RTW DC2R

So sounds like you are off to the races.

Now that you have wired the money and signed a bill of sale, is the car officially yours? Or is there still a title that has to be signed over/exchanged like here in the US? Reason I ask is because Im curious who is actually liable for the car at this stage should something happen to it (damage, stolen, etc) especially since this broker is still trying to find a shipper even though you guys have basically closed the deal.

Stripped Honda

this is why my plan is to add it to my insurance before i even wire the money and i believe the OP also already added it to his insurance or was already talking to his insurance about adding it ... i use AAA insurance and they automatically cover any car i buy for 30 days even if i do not call and add it right away

dave7

I think it's considered officially sold. Yes it's pretty much mine, I believe the car title used in Canada is called the registration. I don't have that yet. The main thing now is to get it shipped. The seller in this case is really easy to work with. I think that's pretty important when in a situation like this too.

dave7

Thanks! I contacted them to get an estimate. It's good to look around to see prices and who can ship in a timely manner.

dave7

My insurance company said I should see if the shipping company provides insurance. If so, I can wait to insure it until it is delivered to the US.

tony_2018

do not go through shipping company to insure....if you still do get it in writing on what they will cover and the process.

dave7

^word. Maybe I'll have both shipping insurance and car insurance just to be safe.

RTW DC2R

I could definitely see a sketchy shipping co being very difficult to work with should something happen. Definitely better of with actual car insurance provider.

dave7

I've contacted several shippers so far, waiting to hear back from them. Shipping seems to be the main challenge in this type of situation.

dave7

@rtwdc2r: yea good point I agree.

touringteg

I can confirm that we don't have titles in Canada. Instead we have a Registration.

When you sell a car in BC, you sign the registration and tear it off your insurance. This is given to the buyer. I shipped a car to Quebec last month and put the registration in an envelope in the glove box. The other option is the seller can courier the registration to you.

dave7

Sweet, thanks for clarifying!

snobordboy

When I moved to Canada and bought a vehicle I thought it was odd to not get a physical title for the car, like in the US. They just do a check to ensure that there is not an outstanding lien on the vehicle when you register it. The broker may need a lien clearance letter on the ITR for when it crosses the border, so that might be a good thing to have the seller provide.

Insurance should be the easy part. I have both US registered cars and a Canadian registered car under Farmers insurance in the States.

dave7

OK good to know about the lien clearance. I'm still trying to find a committed shipper at this point.

Sp00nFed EM1

What about www.Uship.com ?

dave7

Yep, just tried that today.

dave7

Good news! I found a shipper, they are actually a shipping company. Edit: going to leave out prices. But their prices are good. It ships in a fully enclosed trailer.

Seems like a good company. PM me if you'd like to get their info.

They said they need me to pay them in canadian dollars because otherwise they don't get a good exchange rate, and apparently my bank is able to convert to cd and wire.

There is a customs/broker fee.

The duty is 2.85% which includes a processing fee.

Now I have to wait about 3 weeks to get the letter of compliance from Acura, which the seller requested. Maybe it will come sooner!

And the recall letter will take about a week.

dave7

So as you can see, shipping and importing from Canada has its costs. It makes to do this if the caR is the right one.

604ITR

25k+ USD damn your crazy
What was the sticker price in the states for this car?

I believe in canada it was 32k cdn

Why not just buy a cleaner one in the states for 10k less?

Sp00nFed EM1

Sounds like it's adding up pretty quickly lol.