When to buy a C 8?

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Iso

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I don't profess to be an expert in financing or even in any forms of accounting, banking or an investment guru; for me, common sense prevails and able to read the writing on the proverbial wall of USA commerce. As this COVID-19 has played havoc with world industries and more so in the USA as unemployment is reaching unpresidential hights and the economical trade war with China looms unpredicted. With the US deficit in the trillions and growing out of any control to curb the onslaught of a major recession, as the US dollar is predicted to fall at any time of -30% from its former glory of being the worlds prefered currency.
So, for all you budding Canadians who have placed orders for the coveted C 8 and signed the agreement for the current exchange rate, may be in for a financial shock when the US dollar reaches par with the Canadian dollar.
 
Canada has its own economic challenges as our deficit continues to rise. I don't see the US currency coming up to par with the Canadian dollar in the foreseeable future. Even if it does, I doubt the C8 pricing will be significantly effected. Covid 19 has hit the world's economy with every major stakeholder like the US, Germany, UK, France, Russia, etc. taking a beating in order to prop up their economies. IMO this is a case of one for all, all for one as we continue down the Covid path towards some type of resolution.
 
The worrying time my friend; as Canadians, we are accustomed to our currency exchange being around -30% towards the US dollar. But, a financial revolution is looming.
 
Prices in Canada for new consumer goods are not dictated by the exchange rate between Canada and the USA. They are set based on the Canadian Market and what the 'price-setters' feel Canadians are willing to spend on the products being sold.

When the dollar hit parody after the 2008 crash, prices for some goods dropped... marginally, after a year or so of Canadians complaining that they should drop because of the change in the exchange rate.

If the exchange rate did have such a huge impact, the 2020 Corvette would be significantly more expensive than it is.
 
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For me, I will be dashing across the border with my Canadian dollar exchanged to the US dollar, and buy in the USA.
 
Simply playing devil's advocate here...

One can buy a new vehicle in the USA and bring it to Canada. You would have to pay cash or get a private loan.

If the USD drops 30% from where it is now, that would put it at about 0.95 on the Canadian dollar. Pretty much Parody.

If you bought a base model, and this were to happen today, you'd buy it for $58,900 USD, or $55,955 CAD. Compared to $69,988 CAD, that's not bad.

You may end up needing to pay the tax down in the USA. It would probably depend on the dealership you go to and the State laws.

You'll still have to pay HST when you come back to Canada. Plus $195 RIV fee, $100 A/C. Luckily, the C8 Corvette is fuel-efficient enough, there's no gas guzzler tax. Might not be the case for a Z06.

Doesn't seem like a crazy idea. Probably a lot of hoops to jump through and finding a dealership that'll work with you.
 
I have my doubts that the exchange will reach parity any time soon. Canada will fair far worse from the COVID-19 than the US given our significantly lower population and our own Trillion dollar debt and ongoing social program funding deficit. We just gutted our oil and gas sector. So I will be very interested to see where our tax revenue comes from in the next few years.
 
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EJChevy said:
Simply playing devil's advocate here...

One can buy a new vehicle in the USA and bring it to Canada. You would have to pay cash or get a private loan.

If the USD drops 30% from where it is now, that would put it at about 0.95 on the Canadian dollar. Pretty much Parody.

If you bought a base model, and this were to happen today, you'd buy it for $58,900 USD, or $55,955 CAD. Compared to $69,988 CAD, that's not bad.

You may end up needing to pay the tax down in the USA. It would probably depend on the dealership you go to and the State laws.

You'll still have to pay HST when you come back to Canada. Plus $195 RIV fee, $100 A/C. Luckily, the C8 Corvette is fuel-efficient enough, there's no gas guzzler tax. Might not be the case for a Z06.

Doesn't seem like a crazy idea. Probably a lot of hoops to jump through and finding a dealership that'll work with you.
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Been there, done that. Easy process. Many northern and East Coast dealers will deliver to border . I purchased brand new Maxima in NJ in 2007..saved 13k Cdn...was ready to repeat with new 2007 370Z but Nissan Canada strong armed US dealer network to stop all sales to Canada very quickly (unless you went to Texas/Cali)

Also helped 2 friends import 2x 2008 Tundra Ltd.. from North Carolina .

No dealers had to charge state tax. Only a handful of states require this and dealers will ship to a neighbouring state in most cases to avoid this.
 
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johnsazzr said:
Been there, done that. Easy process. Many northern and East Coast dealers will deliver to border . I purchased brand new Maxima in NJ in 2007..saved 13k Cdn...was ready to repeat with new 2007 370Z but Nissan Canada strong armed US dealer network to stop all sales to Canada very quickly (unless you went to Texas/Cali)

Also helped 2 friends import 2x 2008 Tundra Ltd.. from North Carolina .

No dealers had to charge state tax. Only a handful of states require this and dealers will ship to a neighbouring state in most cases to avoid this.
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Where there is a will, there will be away.
 
ABC said:
I have my doubts that the exchange will reach parity any time soon. Canada will fair far worse from the COVID-19 than the US given our significantly lower population and our own Trillion dollar debt and ongoing social program funding deficit. We just gutted our oil and gas sector. So I will be very interested to see where our tax revenue comes from in the next few years.
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You are accurate. I worked in Banking for 25 yrs and have followed the Cdn$ vs US$ closely for that time. Our dollar will never improve significantly as long as our Oil sector is in the shitter. Covid or not, recession or not, the oil, natural resources and commodity prices are the largest factor in our dollar valuation vs US.
 
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ABC said:
I have my doubts that the exchange will reach parity any time soon. Canada will fair far worse from the COVID-19 than the US given our significantly lower population and our own Trillion dollar debt and ongoing social program funding deficit. We just gutted our oil and gas sector. So I will be very interested to see where our tax revenue comes from in the next few years.
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Seems as though we are cutting off our nose to spite our face. As Ford of Canada has announced
ABC said:
I have my doubts that the exchange will reach parity any time soon. Canada will fair far worse from the COVID-19 than the US given our significantly lower population and our own Trillion dollar debt and ongoing social program funding deficit. We just gutted our oil and gas sector. So I will be very interested to see where our tax revenue comes from in the next few years.
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I guess we could start to grow rice and export it to China.
 
ABC said:
I have my doubts that the exchange will reach parity any time soon. Canada will fair far worse from the COVID-19 than the US given our significantly lower population and our own Trillion dollar debt and ongoing social program funding deficit. We just gutted our oil and gas sector. So I will be very interested to see where our tax revenue comes from in the next few years.
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Seems as though we are cutting off our nose to spite our face. As Ford of Canada has announced that it has no plans for the future at the Oakville assembly plant. Converting the plant for rice production may be an option.
 
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My vote on when to buy a C8, is whenever you set your heart on it. It's not a need/necessity so as with most such choices, you should make the purchase when you decide you can swing it financially and when the time is right for you. We can all second guess the markets and dollar exchange and whether the world will end tomorrow in a huge North Korea-inspired fireball. In the meantime, think of the FUN you'd have driving a nice car instead of sitting there pondering life and all its variables and if that FUN-FACTOR sways you, then go for it!

I always think I'm not getting any younger, don't want to wait for my reaction times to get slower, and I'd rather not let life pass me by, so indulging one of my many weaknesses (buying a new vehicle) is easy to "justify". My 2 cents.
 
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Marketing and clever advertising sway most of the vulnerable populous that can't resist being the first on the block with a new toy, teasing our innermost desires to satisfy the ever-powerful lustful eye. Marketing gurus from psychological backgrounds have over the years through evaluations from a statistical sample size of how the consumer becomes complaisant and eventually bored with the once new proud possession of a new vehicle that made your heart skip a beat now has lost its appeal and the roving eye is prowling to rekindle that lost feelings of splendour that a new purchase brings to us all.
If the consumer used their heads over their lusty desirous hearts capitalism could come to a grinding halt and stifling progressiveness from the wantful eye still be ridding the four-legged beasts of one horsepower.
 
Iso said:
Marketing and clever advertising sway most of the vulnerable populous that can't resist being the first on the block with a new toy, teasing our innermost desires to satisfy the ever-powerful lustful eye. Marketing gurus from psychological backgrounds have over the years through evaluations from a statistical sample size of how the consumer becomes complaisant and eventually bored with the once new proud possession of a new vehicle that made your heart skip a beat now has lost its appeal and the roving eye is prowling to rekindle that lost feelings of splendour that a new purchase brings to us all.
If the consumer used their heads over their lusty desirous hearts capitalism could come to a grinding halt and stifling progressiveness from the wantful eye still be ridding the four-legged beasts of one horsepower.
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:Funnypost:
 
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