Buying A Canadian Boat
Michael T
Member Posts: 7,227 ✭✭✭✭✭
To anyone with American funds you may find this interesting. I have been doing some research the past couple of weeks on the topic of Canadians selling boats (or any kind of vehicle) to anyone who has American funds. For example, there are many Canadian fresh water boats in premium condition available. To people with American dollars that would be a 30-35% discounted whether new or used.
If you decide to but new the dealer will look after the customs forms and transportation. No matter what you will save a huge amount of money.
But where you will really save is with a pre-owned Canadian boat as it will already be discounted (usually substantially) then then power of the American dollar goes to work. If you buy through a dealer or broker the customs forms and transportation will be arranged for you.
The biggest savings you can acquire are from a private seller as no brokerage fees are charged. If you do so there are several things you would want to do and several you must:
*You would want a survey from a registered surveyor - unless you knew the seller
*Warranties on the mechanicals and hull would be a huge asset
*Maintenance logs would be helpful
*You would want the services of a customs broker. For a flat fee they will do all of the paperwork to have your boat pre-approved for arrival at the border.
*You will need to arrange transport of your boat and bonded, experienced transporters are required. You should also note that if the boat is equipped with stern drives (which I would want for gas economy anyway) it will sit lower on a transport truck which is good. Then the transport company will need 7-10 days to get oversized (in boats over 8'6" wide) and bridge permits in line. If you have the boat delivered to a rural area or marina that would be less costly than entering a big city where Police escorts are usually required.
For both Canadians and Americans there is a financing consideration as well. Banks in both countries are a bit shy about lending money for a boat that is in another country although Canada and the U.S. have favorable banking relationships. There are certainly banks that will do this.
Comments
2002 FV 342 on Lake St. Clair - Past Commodore SHC - Vessel Examiner USCGAUX
SMART GUY - you deserve the bargain you got! That's what I like about Americans, they have always been go-getters! BTW, that could help a guy I know. Thank you very much for sharing. There may be a case of beer headed your way.
BTW, regarding the M&T bank.....you do know my initials are MT, right? Too funny!
Could you post pics of your boat?
Dream 'Inn III -- 2008 400 Express
Andy
He says he doesn't want to build a wall between the US and Canada. Let's hope for all of our sake he keeps his word.
Boat Name: King Kong
"Boat + Water = Fun"
When I came across the FV270 in my avatar I jumped on it as I was aware that there was some US interest in it. Sorry...it's MINE!
2018 Cherokee 39RL Land Yacht (Sorry...)
One question when buying a Canadian boat: Who is responsible for any taxes?
A few years ago a friend sold a US boat to a Canadian. Customs said that it was the sellers responsibility, but here in the US, it is the buyers responsibility.