Has anyone ever thought of buying an F-car in Alberta even if you don't live there?

If your buying a $200,000 car the tax should not bother you, If you going for resale, A local ferrari would be the better choice

 

Firstly, $30k is $30k, you'd have to be an idiot to just throw it away if there was a way around it (legally).

Most cars for sale in Alberta were not initially Alberta cars, as we don't have a dealership. There has been a huge increase in interest lately with alot of oil money and easier access to the cars (you know who...). As you have probably seen, the prices are pretty consistant throughout the country and I would doubt that in a few years your car would be worth any significant amount less, regardless of where you have bought it and where it has been.

 

Just buy a frigin car and drive the it.
Resale is something that no one can predict - it will swing one way or another depending on market forces ( supply demand crap )

If your are worried about "local " versus "nonlocal" car just for resale, then you have to go all out a by a car that does not have a single mark, tire scuff, windshield chip, leather crack. because that will get top dollar.

So your new investment will remain in a plastic bag until the time you wish to sell it because of "future resale"

Then the problem of not enough use arises, further affecting the future resale value.

The point is don't buy a car for the future owner. Buy a car for you. Have fun with it...

Remember, unless you live in Maranello, every Ferrari is a "nonlocal" car.

 

You'll end up paying the PST(TAX) unless you register it in Alberta. Good Luck with your purchase.

 

no

 

I want to drive my car in that city.

Only drive 12 cylinders

 

Those who dismiss the value of $30k simply do not understand the potential value of a dollar. Even some billionaires have been known to bend over to pick up a dime on the road. The corrolary, in turn, is that a new Ferrari is indeed a very expensive toy. For me to buy one and hold on to it indefinitely is the same as spending at least a million of today's dollars in 30 years, guaranteed. That's why not all truly wealthy but financially cognizant people will choose to possess such luxuries.

 

Sorry to interject here but the 30K tax on a 200K car is somewhat skewed.

My understanding is that you pay GST (7%) pretty much on any anything that goes through a reseller (ie: non private) nationwide.

In BC we pay currently 7% PST on ANY purchase up to 49K. Anything pricier the luxury tax kicks in and we pay 10%. Now on a 200K car that would seem to be only 20K not 30. Or did I miss something?

As to purchasing out of province many factors come into play. If you live in BC for more than 6 months of the year then you file income tax as a BC'er. Everything you bring in you should report and pay PST on. However, if you own more than one domicile you are free to purchase and register vehicles in that domicile as long as they are principally operated there. Break the rule of operating out of declared territory and you'll learn some real hard lessons from your insurance company in the event of a crash.

If however, you do reside in Alberta, you can move to BC and import your household effects etc. tax free. I believe you are required to have lived out of jurisdiction for more than a year and you are not allowed to sell motor vehicles imported this way until completing a minimum of one year of residency.

Thing is, every car privately sold in BC should be priced higher than one from a tax free jurisdiction. And dealers factor out PST if you trade in with them on a new purchase. We are all in the same boat. Just consider us poor fools that import from the US. We pay 6.2 % duty on foreign toys. Then 7% GST and then 7% PST and/or 10% luxury on top of that. Oh yeah, that's AFTER changing US currency into regina pesos. That's the one that hurts.

Take care guys,

Fchat is a great forum!

Steve H

 

do a search, this topic has been posted before