More importing info for Canucks

[cosworth]

I've recently had a few local boneheads claiming they can buy XXX in the States for XXX and their numbers are REALLY off. I don't usually want to haggle with these people since they peruse resellers with ratings of less than one and think I should sell my lens or whatever for pennies on the dollar.

I import a lot of stuff from the states. Camera gear, hard to get hair products for the wife, stuff that is only "free shipping" in the US etc. Here is a quick rundown on what it CAN cost you if you're importing into Canada.
(assuming a $5000 USD item with free shipping or included shipping)

$5000 USD item.
Exchange to buy USD (today) $5282 CDN
http://www.rbcroyalbank.com/RBC:RqYav471A8cAAgF@r2Y/cgi-bin/travel/fxconvert.pl

Now buying and selling US currency invokes charges. www.xe.com (http://www.xe.com) is not accurate for actual currency purchases! See above link If someone wants to sell to you, be mindful that buying and selling US currency has different rates. Try it out on the RBC link.


Take the $5282 CDN and add %2 for Visa currency exchange surcharge. (note this will fluctuate with different banks and cards, but it's ballpark @%2)
$5387

Pick the item up at Point Roberts or your own south of the border PO Box and clear customs yourself.

You pay %13 tax on purchase price. $6087 (Assuming duty free Camera here. Some products will incur a duty)
OR

Get it shipped UPS/Fedex and add the $45 brokerage fee. (The $45 seems different among carriers, ask before shipping)
$6132

ps. You can avoid this brokerage fee if you get expedited shipping.

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Here is a different angle. You live in Sarnia, Ont and must have your new XXXXXX shipped to you. You get the seller to use USPS and you only get nailed a $5 brokerage fee by Canada Post that will ask.

$1000 USD item (shipping included).
$1056.40 CDN (rbc link)
$1077.53 (visa surcharge)
$1193.73 (assume Customs calulates the exchange right on the $1056.40 but they won't)
$1200 ($5 to Canada Post and $1.27 in gas to go get it)
This can equate to a nice, calcuable factor (today) of 1.2174 (more with brokerage fee).

If you are buying used, don't forget to add Paypal's fee. You can initiate a send money request and it will give you the amount to be charged on your card (in CDN) before you verify. Good feature. You'll find that buying new with Visa and buying used with Paypal, the extra fee from their respective conversions is nearly the same.

So with www.xe.com (http://www.xe.com) this is what we get today: 100.00 USD = 103.593 CAD >> FAR from the actual 1.2174 conversion to get it in your hands on this side of the border.

The numbers here aren't concrete, but close to what you'll see in real life.

[Gujustud]

1+1=3?

Good info.

[cosworth]

Yes, don't forget that Canada Customs will charge you an impound fee if you fib about your gear's worth. They will make you log into your paypal account or ebay account in the office and get the invoice. They are wise to people.

Getting it shipped to your house is usually the easiest and hassle free way.

Stuffing a 1D Mk.III in the trunk with a flattened box is a sure fire way to incur such a massive penalty ON TOP of the tax. Oh and you pay TAX on the impound fee too.

[JAZZ D.P.G.]

Good numbers!

I prefer to buy Canadian as long as I don't give away too much. I use a similar calculation to determine if it is good deal or not.

I can't be giving my money away either.

[Glenn NK]

Thanks for the information Jason.

I learned the hard way - I should have expedited from B+H, but used UPS instead. Their "brokerage fee" is exhorbitant - maybe they pad it to pay for the coffee fund.

I learned after the fact that they have a poor reputation here on the island, and also a poor reputation in Regina where my brother lives. Now I know why they advertise so much - they're probably short on repeat business.

[gradstudent]

thx for the info... really appreciate it....