Feb 01
Toyota starts moving.. but is it enough?
Prices on 16 Toyota and Lexus models have been lowered to better represent the loonie’s value, Toyota Canada said Friday.
The one good thing is that Toyota will honor the warranty!
And with the Canadian Government’s help , Toyota Canada, at first glace comes close on the Yaris Sedan. See below:
The difference on a Yaris is $3,000. oops! I forgot to mention that the Canadian Government will give you $1000.00 back if you buy it in Canada! (remember that Transport Canada has a ECO-rebate program that discriminates against hard working Canadians that buy in the US)
See the files we worked on :
2008-02-01yarisquotecanadian.pdf $20594 less eco-rebate is $19594.
2008-02-01yarisquoteus.pdf add Riv fees and GST / PST and you get $17,636 US
But more important lets make some phone calls and find out for sure!
At 2:14 P.M. I just got off the phone with a dealer in the US, with my one month lease of an apartment , U.S. address needed, he will give me $500 off, $15,125 US before rent, RIV and GST and PST.
At 2:28, just got off the phone with a great saleman at one of the dealers in Montreal, we had a great chat about the differences between the US and Canadian models, he told me you can see it all on the web site, stonger alternators, better heavy duty batteries, bigger wind shield washer holder, ….
But in the end, stated the best he could do was take off $300.00 giving around $19, 250, Tax In.
All in all a difference of less than $2,000. Not to bad. Add on the scare tactics being implemented by the press and Canadian Government and maybe some shoppers might stay at home!
Looks like Toyota is starting toget its stuff together…. but is this just a lost leader… what are they doing with the popular more expensive models? Anyone care to comment?
February 1st, 2008 at 5:05 pm
I’m considering a Camry V6 XLE and would still save nearly 10k compared
to pricing south of the border. Is this model immune to the power of the
Canadian dollar??
February 1st, 2008 at 5:30 pm
In the above calculations we assumed the dollar was at par.
February 1st, 2008 at 6:36 pm
I’ve been following Toyota Canada’s price for the Rav4 for a few months now. All they’ve done is roll their Dec 2007 cash incentive into the MSRP. I don’t think that it’s enough but I applaud their move.
February 2nd, 2008 at 8:22 pm
Don’t forget with the dollar at par, it will still cost you 2.5-3% to exchange your money, so need to factor that in.
Anyone have a way to get U.S. dollars for a lower exchange fee?
February 2nd, 2008 at 8:37 pm
Hi ….
With a 9k reduction from the cdn. dealer and rebate my 2008 RX350 quote came in at 59.5k CDN.
My U.S purchase was 43k, I paid the Mi. tax of about 3k.and $850.00 exchange cost.
With the lower pst. and gst. costs my saving was at least 14k.
regards ……..Stan
February 3rd, 2008 at 12:40 pm
Yes, see your broker or your good banker, ask for a better rate, then demand one.
February 3rd, 2008 at 9:11 pm
And what kind of rate will a broker or good banker be able to give, assuming a par dollar?
February 4th, 2008 at 1:25 am
How about opening a U.S. dollar account at your bank? Transfer funds from your CAD account to your USD account then cut a cheque from that account or have the bank issue you USD Bank Draft?
February 4th, 2008 at 11:25 am
I checked the Tacoma last week on the Cnd site and it was down only a $1500 from when I bought last year in September. This still means I saved $8.5K since my purchase last October in comparison. At that time, I saved just over $10K. The Yaris may be close but on the Tacoma/Tundra lines, they are still quite a ways off. I am of course ignoring the cash-for-gas rebates they are advertising with right now…
February 5th, 2008 at 7:49 pm
Hello Stan Jakaitis? Please help me!! I am also interested in importing a 2008 RX400H or 2008 RX350 into Canada. I’ve been discouraged because I don’t see it on the RIV “admissable” list. How did you do it? Will it make any difference that I have a family member living in California who can make the initial purchase?
Thanks for your feedback…
February 7th, 2008 at 12:22 am
Great site you’ve got here….wish I found it when I was importing my ‘08 Tribeca from the US (Manchester Subaru in NH if you’re interested :).
Anyway, I would like to offer my view as to why I think that Toyota isn’t doing as much as you may first believe by looking at the prices they are offering. In my view, the differential between US and Canadian prices is likely to climb, especially on used cars.
Here’s why:
There is a growing view that the US economy is headed into recession, which would weaken conditions for auto sales there just like for any other product. Much of this is driven by the US housing situation. If you think US real estate is just fine, take a look at Cleveland. It has some 10% of its housing stock vacant, and average home prices are down 30% from the previous year (see link) http://news.bbc.co.uk/2/hi/business/7070935.stm
Also, the inflation cycle the US Fed is now creating will make the US dollar cheaper and cheaper, which makes goods available to US consumers more affordable to Canadians. Note that food and energy prices are already soaring in the US, and inflation is running well above the Fed’s stated comfort level.
And… in recessionary conditions, a few things happen…
* Consumption of luxury goods drops off heavily - This is already starting. Total US auto sales for January 08 were poor, but leading the decline were the luxury lines (Lexus, Infiniti, Acura).
* Non-luxury consumers cut back their discretionary consumption too - after all, why rush to buy a new car if there’s less job certainty… since the old one probably still works
* Troubled consumers pay their debts more slowly, if at all - traditional behaviour of problem credits is to max out the credit cards and unsecured credit lines, delay payment on utility bills and taxes, then stop making car payments, and finally watch as the family house falls into foreclosure. This applies not just to the “poor” subprime borrowers but even a lot of the prime credits. I’m betting that lots of people who lost their homes lost their cars first. This cycle will keep happening to lots more American over at least the next year or two.
Meaning…
that if the situation worsens or even keeps going “as is” in the US, you can expect that there will be lots of early lease returns and used auto repossessions on the US market. A flood of used cars and reticent consumers for new cars will eventually lead to oversupply… and that’s a situation where prices have to fall and we can get an excellent (unprecedented?) deal.
I think this is the real story the Canadian auto dealers are afraid of.
February 10th, 2008 at 2:10 pm
Hi SteveCamper: I would like to get a Tacoma myself. All the conflicting stories / RIV changes / warranty issues / registering to a US “friend” issues is making my head spin. I’ve read the “rules” re paperwork / inspections etc but i’m confused about a few points:
1) Are 06-08 Tacomas admissable?
2) Do they come with immobilizer systems that TC approve of?
3) Can i buy from Carmax or Toyota dealer in say Las Vegas area and not pay their local taxes?
4) Will a Vancouver Toyota dealer service it under warranty or do i have to drive across to a Washington dealer?
5) Did you use a broker to find your truck or just cal dealers direct?
Thank you in advance for your answers.
Keith in Vancouver
February 12th, 2008 at 10:43 pm
“stonger alternators, better heavy duty batteries, bigger wind shield washer holder,”. Sounds like a bunch of B.S. to me. Maybe if your Toyota comes from the southern states.
I priced a base FJ Cruiser on the Canadian and US Toyota websites. Even with Toyota Canada’s new lower price on the FJ, it was still more than $3000 less using a Buffalo zip code to price the US model.
Toyota has a long way to go before I’ll even consider buying one.