<Something you should consider; consumer debt in Canada is actually very high. In 2009 Canadian household debt was about $1.3 trillion (source), UK household debt was about £1.4 trillion (source). Given the relative size of the adult populations, Canadians owe quite a bit more to banks than brits (a fact that many on here think is the other way around). However Canadian banks are well run and wouldn't make bad loans would they?>

The above is very true indeed. Canadians are massively in debt. Apart from personal bankruptcies I believe there are a great number of commercial bankruptcies still to come. For instance, Skyservice closed shop last week, but everyone involved with any lending, marketing, staffing etc would have had an inkling that it may have been operating on the edge 2 years ago. There are several commercial entities in Canada 'on the edge' right now, and I think their banks are afraid to be the first to set off a chain reaction. Some are able to conceal their predicament through deft marketing, after all the "perception is reality" code plays larger than fact in Canada. The nortel type collapse will happen. After all, how long can commercial entities continue "buying customers". Worse still, as has been pointed out, Canada has a tiny population that can only do so much to keep this fallacy going.

Good banter all round, esp good to hear what others are thinking. I appreciate there is no crystal ball (there were, would there be any currency exchange at all? Discuss.) but all healthy discussion nonetheless. As expected Gordo has gone to her maj and dissolved parliament. 6th May election. I move around the 25th April 2010 so it's postal vote for me and the hope of any sort of majority!

Interesting also to see the loonie reach virtual parity with the USD. This makes buying a car in the states with Canadian $$$ a no-brainer even with the duty/GST/PST. Where do I get my Canadian dollars from? Oh yes, my worthless pounds - doh!

Good luck with the move.

Cheers

Martin

We move early May and need to by a vehicle ASAP, what you said about buying in the States sounds intriguing. Can you explain?

Buying a car in the US is good right now if you're spending Canadian dollars. Car prices in Canada seem to have been set when the US dollar was worth more. Look at prices on www.audi.ca vs www.audiusa.com for an idea - about $5k difference on an A3 for example.

If your spending pounds, it sucks either way!

Plus the sheer size of the US population gives more choice on the used market. However, you have to consider warranty validity and such like with buying the US. With some marques it may not transfer US --> Canada.

Plus it can be a PITA as you have to also have to factor in:
- Getting to the US to see/buy the car, plane ticket, hotels etc..
- The time involved in doing this, including the 72 hours notice you have to give US customs for export purposes. Canadian customs will only import a car if it has been rubber stamped for exports by US customs.
- Any modifications to the car to make it Canada road legal (usually daytime running lights and French airbag stickers).

Check out www.riv.ca for the official line of the paperwork involved and what cars can be imported.

Back OT, the crap exchange rate does have one advantage - it's a great time to transfer debt!!! (As you're effectively "fixing" your exchange rate and using fewer dollars to pay of a sterling debt.)

Getting C$1.53 today. Ouch. Holding onto Sterling for now and praying that William Hill have a crystal ball...

Also: there are individual agents and companies (Canadian) that operate from Florida, Arizona etc, who will purchase a car locally for you, and drive it to Canada if you dont want to do that yourself. If buying in the USA, make sure (a) the car is not from a snow belt state, and that way you avoid salt corrosion and (b) if used, that the car was never in any of the natural calamities that struck eg New Orleans. There's been a number of cars, virtually brand new that were in floods, that have been sold off. A year later, electronics, electricals corroded and no warranty cover available. So be careful. There are rumours however, that one can save tens of thousands on Cadillacs, Mercs, Audis and BMWs

Apparently the speedo is in MPH rather than KPH also

Our Civic has a button to switch between kmh and mph, I don't know whether the US models do too. So presumably Honda at least have provided a way around that .

I saw this on the toilet pan where we are staying and I think that it summarizes exactly where Sterling is at the moment....

Quality!!!!

VW/Audi instrument clusters for the American market are the same as the British market - MPH in big numbers, KPH in smaller numbers. The rest of the world gets by on just KPH! (Sorry for OT, back on topic...)

Tories have an 8 point lead over Labour (38 vs 30) on the opinion poll from the BBC. The Sky News breakdown considering the marginal seats predicts a win for Cameron but not enough for a majority in parliament. Early days yet but worth tracking for those of us with a temporary exchange rate obsession.

Heady heights of 1.54 CAD for 1 GBP. When I landed in July 2009, it was 1.88 CAD on my Goods to Follow form!

Just had a call from my FX guy in UK, warning me that the rates are probably at the best they are going to be for a long time . . ..1.54
We still have a big chunk on money in the UK, but have not yet found a house to buy!!!! I was optomistically hoping that the election would bring a more healthier rate, but apparently after some "debate", it's looking more likely heading for a hung parliment
what to do?????what to do??????

In your position I'd wait - but that's based on my own personal opinion on what I think will happen.

(Your FX guy wants you to trade as that's how he makes his money - he doesn't care about the rate you get only the volume you trade.)

1.562 at the moment your tradex guy is wrong! As long as the uk voters pick one party with a majority you will see sterling rocket!!
Call friends back home to vote conservative they are leading the opinion polls so as long as people go out and vote things should be ok. This is coming from a man who has never voted! Finally showing a bit if interest, due to a sterling salary!

I think we'll easily see 1.60 plus within 2 months. Election victories rally markets.