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Importing Ferraris from the US

Discussion in 'Canada' started by californiaspyderplease, Jun 1, 2004.

  1. Can somebody please give me a breakdown of the import duties and taxes you have to pay at the border. Also, are there other rules such as haing the speedo converted into Kph or emissions changes?

    I can't justify spending the inflated prices at Canadian dealers when buying from Florida will save you $30000 Canadian plus.

    If anyone has had experience in importing one; please give some description of how it went.

    Dealer employees browsing this site, don't bother putting in your "I would buy local" opinions - don't wanna hear it.

    Thanks
     
  2. Avia1

    Avia1 Rookie

    Nov 14, 2003
    44
    Dealer employees browsing this site, don't bother putting in your "I would buy local" opinions - don't wanna hear it.

    Thanks[/QUOTE]

    I don't think the dealers are that far off. If you want to bring in a 89 or older vehicle then anything goes, Europe, U.S., etc... However if you have some dream of bringing in a 94 348 spider or 355 or 360, good luck. The bumpers and reinforcements on both cars are different and very expensive to replace, i.e. $15,000+.

    A duty has to be paid on cars not manufactured in the U.S. of I believe 6.7% or 6.2% and brokerage fees of a couple hundred dollars, faxing titles back and forth to each border, etc...

    So if you add in all of the expense it's only slightly cheaper to purchase a Ferrari in the U.S. and to be honest a Florida car unless it was garaged regularly and driven infrequently is going to look "beat" compared to a Canadian car driven 6 months of the year.
     
  3. Bruckner

    Bruckner Rookie

    May 22, 2004
    19
  4. ToddB

    ToddB Formula 3

    Nov 4, 2003
    2,241
    Vancouver B.C./OC
    Full Name:
    Todd
    It would be nice if you could bring in a 2002-2004 modena..........but they should be the same as the 99s and up..........I would email them to double check
     
  5. Avia1

    Avia1 Rookie

    Nov 14, 2003
    44
    Look closely at the Riv.ca list and you will see that both 02-04 360 Modenas both 6spd and F1 have "**" beside them. Which means modifications are needed.
     
  6. evansp60

    evansp60 Formula Junior

    Nov 2, 2003
    383
    Ottawa, Ont. CANADA
    I'm bringing my '89 348 up in August from Salt Lake City.
    Cost is 6% duty, GST and upon registration PST.
    That's it as it's 15 yrs old in August.

    If it's not yet 15 the most common mods are the child restraint buckle
    and low speed bumpers. The bumpers cost about 15K or more to obtain and install.

    I'll update upon my arrival if anything changes.
     
  7. Kds

    Kds F1 World Champ

    Here's a little calculation that I do when looking at automotive arbitrage from the US. This based on a late 80's TR.

    If I find a Canadian car locally that I want to compare against and it's $79,995 CAD + GST for example.......what I do is assume I can get it for $75,000........then I back out 6.1% duty..........$70,688 CAD......then I back out the shipping of $ 2,000......now we are at $68,688 CAD.......subtract RIV fees and misc expenses...another $500......$68,188 CAD. Less conversion expenses....($1-15,000 CAD)...etc...etc....

    Now exchange it to US dollars......1.3616 is today's cash rate at the Bank of Canada....$48,076 USD is the end result for an example of a car that does not need any conversion done.

    Can I buy an equivalent US car for that much ? There are not a lot of deals out there.........a lot of people use the wrong exchange rate when doing this.......and frankly if it was advantageous........I'd have a lot full of US cars right now. I don't...as it is not.

    Maybe you could be more specific with your example ?
     
  8. evansp60

    evansp60 Formula Junior

    Nov 2, 2003
    383
    Ottawa, Ont. CANADA
    The bigger problem in Canada is availability of exotics.
    I'm looking for a decent early Pantera (25-35 USD). There's really nothing in Canada.
    Looking last summer and found 348 Spider at FoO. They were asking $140K Cdn. Using KDS math it's $140K asking - $131,950 for duty - 129,950 after shipping - $129450 after misc - 114,450 after bumper conversion - conversion to USD makes it 84K. I can get you a good 348 Spider for less than this.
    Sometimes it makes sense! You've just got to be selective.
     

  9. Let's take a recent 512TR.
    Autoforum recently has one listed for $169000. Same mileage as one I corresponded with on Ebay which eventually sold for $81,000 US.

    I saw the autoforum car with my own eyes - very nice condition. The one down south was owned by a very knowledgeable and active FCA member, with full maintenance records posted online, and it also looked very good.

    81,000 X exchange rate 1.37 = $110000
    Plus 6.1% = $117,000
    GST 7% = $125,000
    Conversion costs $15,000 = $140,000

    Therefore, $140,000 versus $169,000.

    This is what I mean - $30,000 is nothing to snivel at.
    Now I don't know how FoO or anyone else would compare on a selling price for a 1992 512tr but something tells me you won't find one in the $140,000 range...that is generally the selling price for early Canadian 355s at the dealerships.
     
  10. Kds

    Kds F1 World Champ

  11. gerritv

    gerritv Formula 3

    Jun 18, 2001
    1,400
    St Catharines
    Full Name:
    Gerrit

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