CBC is reporting that many Canadians are saving thousands of dollars by shopping for cars and trucks in the United States. It is not surprising given that our dollar has crossed 95 cents (US) and a wide disparity exists between prices on some models. For example, Toyota Sienna XLE Limited has a suggested retail price of $51,375 in Canada. The same van is priced at $37,665 (US) south of the border and at current exchange rates, Canadian shoppers can save more than $20,000 when purchasing the van. Some of the savings will be spent on importing the vehicle into Canada but even netting out the expenses leaves a considerable sum of money in your pocket.
MoneySense magazine recently had an article on importing a car from the US (not available online). This article in CanadianDriver.com gives some idea of the hurdles that must be cleared during the import process. If you have personally imported a vehicle from the US, please share your experience in the comments.