Canadian Car Prices Now Lower Than U.s. - But For How Long?

TORONTO, ON. – With the Canadian dollar's swift fall back to below 80 cents U.S., Canadian car buyers could be facing higher vehicle prices very soon as dealers play catch-up. Here's one example: A new 2009 Toyota Camry LE priced at $22,370 U.S. including freight may seem like a bargain compared to the lowered Canadian price of $24,870 (the 2008 model was $27,370), until you factor in the exchange rate. At 80 cents, the price skyrockets to $27,962. The equivalent Canadian car now costs $3,000 less than the U.S. car. Instead of Canadians going south in search of bargains, we may soon see the opposite: American buyers shopping for new vehicles here. "It's my opinion that cross-border shopping has come to a screeching halt." commented Bruce Cran, president of the Consumers Association of Canada. This view is shared by Paul Timoteo, President of CarCostCanada.com. "We’ve already seen a sharp decrease in Canadians shopping for new car bargains in the U.S.", stated Timoteo. "Last year at this time, we were flooded with inquiries from Canadians looking for U.S. new car bargains. Not anymore."   Stay-at-home Canadian shoppers should be concerned as well. When the loonie flirted with par value to the greenback earlier this year, virtually all Canadian new car distributors lowered their prices to bring them closer to U.S. prices, many by thousands of dollars. Will those attractive sticker prices now begin to rise again? "Canadian new car buyers should be worried," stated Paul Timoteo of CarCostCanada.com. "In fact, this could be one reason why new car sales in Canada have been strong lately. Canadians know a bargain when they see it. They realize that if new car prices went down when the Canadian dollar went up, with the Canadian dollar now down significantly new car prices have nowhere to go but up. It’s just a matter of time." There has been a ripple effect in the used car market, since bargains on almost-new used cars imported from the U.S. have dried up. Over the past year, Canadian dealers have bought thousands of almost-new used cars and resold them in Canada at prices typically thousands less than for comparable Canadian cars. This game is over as well. Timoteo remains upbeat, however. "The fact is, there are still opportunities for Canadian car-buyers to save money, but only for those who act quickly. Be forewarned. Get the bargains while they last." CarCostCanada, through their popular website at www.CarCostCanada.com, offers members valuable information on how to get the most bang for their bucks. CarCostCanada.com's exclusive Wholesale Invoice Price Reports provide exclusive access to new car dealer invoice prices and secret factory rebates to lower prices even further. The "trick" is, you’ll only get them if you know about them. Many of these rebates are not advertised, but when applied can save car-buyers thousands of dollars on an average new car. Walking into a dealer with one of these price reports in hand empowers buyers to realize maximum savings on the vehicle of their choice. In uncertain times like these, maximum savings are exactly what vehicle buyers have in mind - and with the help of CarCostCanada.com's inside info, it's what they'll have in their pockets as well. ABOUT CAR COST CANADA CarCostCanada is a division of Armada Data Corp, a Mississauga-based public company providing online, new-car pricing data.  The company has helped over 100,000 Canadian members to-date from coast to coast. Membership at $39.95 + tax (CAA Members get an additional 25% off), includes unlimited access to customized CarCostCanada Wholesale Invoice Price Reports on 5 different models in unlimited style, trim and option combinations. Each report includes the dealer invoice price and all factory to consumer and factory to dealer incentives and is produced on demand live online 24/7. Membership also includes a 1-800 Member help-line and an online Member forum, as well as free referrals to low-priced dealers in your area. For further media information, or for an interview, please contact: Nelson Hudes Hudes Communications International (905) 660-9155 nelson@hudescommunications.com

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