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Originally Posted by 1newyorkguy
Has anyone done this? Is it a cheaper option?
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I done it for a friend living in Vancouver just 2 weeks ago!! It could not be easier.
If you pay cash and the amount is over 10.000 dollar US you have to declare it both at the Canada custom outbound and to the US custom. You have to communicate to the US Custom 72 hours in advance before the actual crossing (my friend did stay at my house in Seattle).
Email them the copy of the title and sales invoice, they will send you an email confirming that they received the info and from then the 72 hours period starts.
When you cross the border first stop at the US custom where they will stamp your title as exported car then at the Canadian custom you pay the federal and harmonized part of the sales tax based on the invoice (which you better write one even if you buy from a private party, and signed by the seller with Seller ID info). If the car is manufactured outside of North America you pay an importation duty tax. You will have 15 days to have the car inspected by the Registrar of Imported Vehicles (RIV), usually any Canadian Tire can do this. The fee for the inspection is about $200 and you pay for it at the Canada custom The car will be stamped as Canada Conform (you may have to modify the Daylight running lights, couple of hundred dollars modification at most and the same Canadian Tire shop can do it) and then you will be able to register and insure it at an Autoplan ICBC office where you will pay the remaining provincial sales tax.
More info and vehicle eligibility here
Registrar of Imported Vehicles - Importing a Vehicle
Do not forget to temporary insure the car at ICBC for the trip back to Canada (you can do it by phone at an Autoplan office, they accept credit card payments over the phone, you have to provide them the VIN and US plate number),
Cost consideration?? I give you the example for my friend, he got a 2 years old Infiniti G37 X coupe fully loaded. Asking price for a similar vehicle at Vancouver Infiniti dealers did range between 41K and 36-38K He did buy from a private party in Portland, asking price was 19K and they settled on 16.8K. Car look and feel spanking new, carefully inspected at an Infiniti dealer before he did pay the seller. So you do the math.... Good luck!!