I got Canadian PR recently and moved from USA. My car is still in USA, I left the car since I wanted to sell the car in USA (my car will require lot of modification since it is old car). After looking at the cost of car insurence here, I want to get my car from USA and drive here with US number plate and US insurence. Quick web search said I can do that for 6 months. I will be driving the car from USA to here and my questions -
Since I don't want to import the car, What should I say to CBSA Officer when crossing the border? I came to know that CBSA will ask you to import the car if it is own car and if you are a PR.
Can I drive back to US after driving 6 months here and get another 6 months 'extension' to drive in Canada?

Thanks for your input!

I invested $50,000 by taken loan from Manulife which was invested by them only in Manulife GIF select plan. The advisor rushed to the papers signed at workplace @ 8am after confirming that we can repay the amount anytime. Since, now the funds are valued at 48800, we decided to book loss and contacted her to close the account as I am paying interest of $170 every month.

But, now I am told by advisor that I have to pay penalty of 5.5%, which means $1200 capital loss, $2500 approx for penalty + $1400 paid as interest. Being salaried, this is huge loss for me. Can I get some advise as to what I should do. Hold on for index to go up or book loss and get out. Also, can I fight against this financial advisor wit Manulife to get waiver on penalty atleast ?

Hi,

This thread was for 'Car from US' and you posted a financial/investment related matter. Anyhow, Manulife is a very large and respected company and those kind of plans are for long term and intended to give some guaranteed income each month after say 20 to 25 years.

Yes, there is a market exposure to all equity plans and hence you see negative growth. These kind of plans are not to be rushed in and do not expect immediate gains. It is all long term.

I would not recommend taking a full 50 K loan and invest in such a plan. If you have say 35 K, you can take 15 K and then invest. that would cause less pain to you.

You can try to get some waiver but that would depend on how you present your case. In any case, they would advise you to contact your advisor or go through your advisor. Try to sort it with your advisor else, try talking to the company directly.

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Non illigitamus carborundum

Hey,

I am also moving from CT, USA to Canada and driving my car to Canada. I called Geico my current insurance company and they told me that current insurance will work for only 1 month. In a month, I need to switch to Canadian Insurance. Also, after 1 month as I will not have US insurance, CT DMV will cancel my registration as I don't have insurance in USA.

However, I found on internet that if I go on workpermit, I don't need to register the car in Canada and US registration should work. I am bit confused here.

Please help