Candid advice from experienced Canadians about how to buy and import a used boat from the USA to Canada. It is alot easier than some brokers will make it sound. This article explains exactly how to buy and import a used boat from the US to Canada and save big. There are plenty of blogs on the subject and lots of misinformation. This article explains exactly how to (and in great detail) to buy and import a used boat from the US to Canada and save big on brokerage fees while avoiding the many pitfalls that cost you time and money.

There are many things we all happily pay for and don't bother doing ourselves. That being said, I feel that it is a benefit to all boaters to de-mystify the importing process and allow them to choose whether they want to do this themselves or engage a professional. Seems reasonable enough to me and the thousands who have downloaded my articles in the past years.

Like many boaters, you have been shopping for a good deal on a boat in Canada. With the current weakening of the US dollar (and the spinoff benefit of a strong Canadian dollar), the economic downturn in the US is forcing out many deals as sellers struggle and liquidate... you can almost smell boat fever.

As you paruse the online ads, you can't help but notice the great pricing on boats in the USA. I mean, you can save tens of thousands of dollars or even hundreds of thousands (when shopping mega yachts) when buying the exact same boat that you are looking for in Canada. A trade buddy of mine in Florida has told me that they are repossessing up to 200 boats monthly right now.

As the US economy struggles, panic takes grip amidst the soaring gas prices and the other US economic issues and more and more people are defaulting on their recreational property loans putting more and more boats for sale in an already saturated market.

Now, it was nice to see Canadian dealers finally starting drop their prices to reflect the pricing shift and our dollar's past strengths (or more accurately, the US dollar's weakness) but still, some dealers are still trying to make too much money off a boat they are importing from the US anyway. In all fairness, many dealers adjusted their pricing early on to stay competitive but there are some that waited until the public outcry began before they started "adjusting" their pricing...

So... shop hard, remember what dealers are being fair and realistic (which is a large majority of them) negotiate hard and use the crazy US market to get yourself the best deal possible.

The Latest Trend - Buying A Boat State-Side

"The past few years have seen an explosion in the number of Canadians purchasing used power boats and sail boats from the States. This is helping to keep the American boat industry on life support in one of the bleakest periods in their history.

The primary driver is the tremendous COST SAVINGS that can be realized by purchasing a used boat stateside. The US pre-owned boat market is 100 times larger than the Canadian market, is far more price competitive and offers a much greater selection of used boats. The present economic crisis has driven people to unload their luxury recreational items for less than they owe. With the total dollar savings even after one fully accounts for freight, taxes and exchange rate differentials and other logistics costs typically exceeds 20%.

An example will help to demonstrate. This example applies to either a new or used boat. Consider the Canadian buyer who purchased a boat a few years ago that cost Cdn $140,000. At the time the CAD/US exchange rate was 1.40. All boats manufactured in the North American market are priced in US dollars at the factory. So what our Canadian buyer really paid was USD $100,000.

Today that same boat at the factory costs the same USD $100,000. However the CAD/US exchange rate is now fluctuating around par, or 1.00, so the same boat today can be purchased for Cdn $100,000 or 28% less than the identical boat cost a few years ago. This is a very significant cost savings that should be passed along to the Canadian consumer by the local dealer, but just like in the auto industry, is not being passed along in full, and consumers are recognizing this inequity and bypassing the Canadian market entirely and making their purchases directly in the US market.

The downside to this massive cost realignment is of course for the Canadian buyer who purchased his boat a few years ago when the exchange rate was 1.40. It is a bitter pill to swallow when he finds out a brand new boat can be purchased for less money than his 2 year old used boat, and to add insult to injury, his used boat is worth much less than he thought it would be.

There is a silver lining for buyers who are trading up. The cost savings on the bigger more expensive boat being purchased, will more than offset the exchange losses generated on the smaller boat being sold.

For any Canadian buyer, the biggest challenges are the logistical issues that must be dealt with when importing any used boat into Canada and most importantly the US based title and lien searches, to ensure you have free and clear title to the vessel. There are numerous critical steps that must be taken to ensure the integrity of the transaction." says Brent Leathwood, Certified Professional Yacht Broker

To learn about these... read on...

If you cannot find the boat you want in Canada, you might as well look south. With tax law changes in the USA coming next year, the market will be saturated with boats whose mortgage payments (large boats actually qualified as a second home and were subject to tax breaks!) will no longer be a tax write-off. Ever wonder why so many average Americans have these BIG, EXPENSIVE boats? Many Americans simply won't be able to afford these luxuries anymore once they cannot write-off the mortgage payment and they will either lose them to the bank or be forced to liquidate them in an already saturated market.

Can you spell S-A-V-E B-I-G?

Now... Back to Canada.

Many people will simply pay more for a Canadian boat because they fear the unknown, or have heard that importing a US boat can be difficult and expensive. Unless you are buying a boat with warranty intact, you have nothing to lose by looking south of the border. Even boats that don't qualify for duty-free import are still worth less in the US and the duties are lower than ever.

Do Your Homework

Use the internet to find the make, model and configuration that you like. Use websites like www.yachtworld.com (sites were brokers and dealers list all their inventory and brokerage listings... just like a real estate MLS site) or www.canadaboatshopper.com or any of the countless other sites that show both US and Canadian listings. This will give you hundreds of similar boats and let you see images, configurations and, most importantly, US and Canadian asking prices. It won't take you long to see average asking price (remember these are only ASKING PRICES used to get the negotiations going). They use this site to help explain why they will only give you so much (or so little) for your trade-in... so you might as well use it to show why you should not pay too much for the next boat... It is a great tactic for them and should be equally applied by you.

You want to know exactly which boats you want to actually drive down to see before making numerous treks across the border to view dirty, damaged, or unsuitable vessels.

Was This A Florida Boat?

There are more boats in Florida than in any other place in North America. You need to be clear right away. Ask the seller if this was ever a salt-water boat. This might not be an issue depending on where you are in Canada, but you need to know. Some dishonest dealers (in Canada and the USA) have been bringing nasty, corroded and hurricane-damaged boats up from Florida, buffing them, fixing the hull damage and drying them out and selling them as freshwater boats. Yes, this happens in Canada folks. You need to have a surveyor. Don't use the survey or surveyor 'they' provide to you and get references from the surveyor you choose.

The Road Trip

Don't let the cold Canadian winter put you off from your boat searching. More and more boaters pay to keep their boats in heated storage so that prospective buyers can have easy and comfortable access to them all winter long. In addition, many great havens for great US boat deals don't suffer winter like we do. Many times their boats are still in the water year round or there is nothing more than a dusting of snow on them. The winter is a GREAT time to shop. People are keen to get the boat sold, get some money to pay off Christmas bills and will happily accept the hold-back (common on winter sales) until a full inspection and sea trial closes the deal in the early spring.

Make arrangements to go and view the boat(s) you want to see. The conditions are simply:

1. A Visual Inspection
2. A Survey
3. Sea Trial

You can walk away from the deal at any point here. You could simply drive down, look at the boat and after one minute, decide that this is not the 'one for you'.

The Offer To Purchase

Once you are satisfied that the boat looks good, you will want to arrange a survey. The survey might result in findings that require you to re-negotiate the price or have certain deficiencies addressed prior to the deal closing.

Assuming that you are not ready to pull out of the deal after the survey (money well spent), you are ready to get the importing ball rolling.

Importing A Boat By Water

I have had several inquiries lately after some brokers and dealers have been warning southbound buyers that they need to employ a captain to bring their boat over the border by water (and they know just the person or firm).

For most non-commercial boats this is absolutely false if YOU are legally and physically able to operate your prospective vessel in either country, you are good to go. If you are planning to captain your boat back from the US to Canada, you need to make sure that you have a copy of the boat's current registration documents...
[ read more ] ... still to come, the complete 45 page document continues with importing by water, land and with a trailer, government resources, contact numbers and addresses, fillable forms as well as other valuable content.

Want the FULL article with all the extra details?

The complete 45 page eBook PDF electronic version is available for immediate download for only $9.99 CDN. This is a large (2.7MB) PDF. The link to download will be provided immediately upon payment (PayPal accounts are free and setup in moments) and a copy of the link will also be e-mailed to you. We use PayPal because they offer a secure and well-respected payment gateway that processes Visa, MC and AMEX and allows you to open a free account with them for future online use.

This will take you to the cart where you checkout, pay and get an instant download link.

INSTANT DOWNLOAD LINK PROVIDED

If you have any troubles checking out and paying with the cart system, just click the following link to make a payment an I will e-mail you the eBook...

STILL NOT CONVINCED YOU CAN DO THIS YOURSELF?

So you bought and read the whole eBook... You understand all the steps and have all the included paperwork and forms, but you are still unsure if you WANT to do this all yourself. No problem. Why not complete our IMPORTING ASSISTANCE REQUEST to reach an importing professional. Tell them you read the eBook and what part(s) of the process you want them to do for you. Simple. Happy Importing!

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Sampling Of Testimonials & Feedback

Thanks for the candid and straight-forward advice! I have an offer in on a deal in New York right now! - Justin Knight, Oshawa

...exactly what I needed to know. I had no idea how easy this process can be if you know what to do. I saved $35,000 plus another $4,000 in broker fees. Thanks! - Angela B - Vancouver BC

Just a quick note thanking you for your article and all the forms and documents! I just got back from Michigan by water with my new boat and everything went exactly as you had laid out. You have an excellent resource that I highly recommend to anyone who wants to shop south of the border... Doug T - Pembroke, ON

...great article. I am ready to do this on my own now. I did call CBSA and Services Canada and confirm your claims and they could not believe how much I knew about the process. Some of your details were more up-to-date than their supervisor's! Thanks for the step-by-step and accurate advice. B. Grosvenor - Halifax NS.

Best ten bucks I have spent this year! I read one thing on one website and the opposite on another. Your article is a good read and I checked it out, people, it is right. I am off to Jersey right now to see a boat I have under offer, thanks to your advice. I will let you know how it all goes. Trevor Shaw - Toronto ON.

THANK YOU FOR THE INFO. Boats are cheaper in USA!!! I had abandoned the
search until I found this info. Thank you very much Bernard Laporte

Thanks for all the advice, I sold my boat in only four weeks on www.canadaboatshopper.com and ...brought a 2001 Silverton back from Ohio yesterday! It was painless since I was prepared for the process... Ed Collins,Victoria BC