I did not want to add this to the previous post in this forum on good deals.

There is a great thread in the Automative section in redflagdeals on the savings you can get if you import a car from the US. Briefly, I will mention the highlights here.

Importing is a pretty straightforward process, especially for newer cars which meet Canadian safety standards.

If the car is manufactured in North America (look at VIN) you do not pay import duty of 6.1%. Most car manufacturers allow the warranty to be applied here in Canada as well. There are slight differences between manufacturers which I'll let you find out for yourself. Honda is one exception.

US car dealerships allow you to negotiate good deals close to invoice instead of MSRP which seems to be the case with most dealers here.

People have mentioned savings of upto 5000 on a purchase of 30000, which is pretty significant.

For those who cannot put all the money down loans can be got from banks as a personal loan. The rate will be slightly higher but still the overall savings are big.

I hope this helps other people who plan to buy a car in the future. I will definitely be getting my car from the States instead of being ripped of by dealers here.