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Originally Posted by EdgyE36
Good thread. Waking up to ask simple question in case I'm ever in situation. What's the best/easiest/safest way to send money when buying Canadian car? TIA.
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International wire is the best. What I did was went to inspect the car, met the owner in the morning and when satisfied, did an international wire from US bank to Canadian bank. The exchange rates vary by bank so do some research as a small change in the exchange rate, can mean $500-$1000 eaten up. The money arrived the next day and we did the transaction of title etc. Some Canadians have US Bank accounts and you can wire money there. Another thing I did is because the exchange rate is variable, I estimated to send a little less money than the total, then gave the seller the difference in cash which was about $1000 USD. It's a pain in the in the butt finding and coordinating it. You might also try to organize this with the seller's bank as well. I do that in the US a lot where you meet at the bank that holds the title or where the seller banks at and coordinate it with a third party also. I hope that helps.