NASCARCorvette No. 211

Exchange Rates Make The Corvette a Hot Commodity Overseas

Of any U.S.-made car in the world, the Corvette is an icon that is worldly recognized. America represents freedom, hopes and dreams, and enthusiasts worldwide pursue their dreams by seeking out a Corvette. Interested buyers from around the world, including Holland, Germany, Switzerland, Russia, Australia, Canada and the Middle East, are finding that now is a very attractive time to purchase one of these American legends.

Today, a favorable exchange rate is creating even more demand for international enthusiasts to purchase their own classic Corvette. There is a window of opportunity for a purchaser to get an excellent deal because of the current valuation of the U.S. dollar.

The Canadian dollar, known as the loonie, the Euro and other currencies are currently stronger than the U.S. dollar for the first time in many years. For example, if a Canadian consumer purchased a car for US $100,000 five years ago, they actually would have paid $171,000 Canadian because of an exchange rate of 1.5 and a 14% sales tax totaling $21,000. Today, if that same customer purchased the same car for US $100,000, they will actually pay $103,800 Canadian because the current exchange rate is about 95 cents and sales tax totals $13,300. When it’s all said and done, that is a savings of $60,000.

Right now is a very opportune time for Canadians or anyone in the world to buy classic Corvettes. It’s a no brainer. Every day, the media reports on the dramatic rise of foreign currency against the U.S. dollar.  Right now, American cars are more affordable than ever for international purchasers. And for how long? Nobody really knows, but right now the window of opportunity is wide open for international purchasers to flex the currency exchange muscle in their favor.Your feelings on the matter are welcomed.

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Tags: Corvette Buying 101