Importing Car into Canada - Is it worth it?

I have been living in the U.S since July 2006. I am relocating back to Montreal and am looking into importing my U.S bought 2006 Jetta. Is it worth it? I still have payments until August 2009. Will Volksvagen U.S force me to pay off the car before I import it to Canada also how much hasle is this really going to be. Should I just sell it and use the money to buy a new car in Canada? Any thoughts?

You can't import it if you don't hold the title, which I'm assuming you don't if you haven't finished paying for it.

Have a look at www.riv.ca

Would it be possible to leave with a car that is not paid off under a TN visa, since the US customs is assuming you will bring it back with you after a year. Isn't it the same when you go for a vacation from Canada into the US?

You're taking it into Canada, the US is not your problem. If you enter Canada to bring in your stuff duty-free you have to submit CBSA Form B4 and B4A when you enter. So they will know you are importing the vehicle. If you're importing the vehicle you need the title. There's also a bunch of other stuff you have to comply with which is explained in detail at www.riv.ca

OK, but what if the situation was reversed? Can I drive into the US with a car on which I'm still making payments in Canada? Since I'm only going to work there under a TN visa, will the US Customs allow me to cross the border with it?

I would have thought so, provided you maintain residential ties to Canada and it's for a year or less.

I am going to be moving back from the USA to Canada next week and I am bringing my Civic with me. I have checked out www.riv.ca and I think that I am good to go on the importing aspects of it (have title, own car outright and have the recall letter from the dealer) but I have a question about insurance. Do I have to arrange Canadian insurance before importing the car to canada or is the fact the the car is currently registered and insured in the USA good enough for a period of time (like 30 days or something?). Thanks in advance for any insights.

Check with your US insurance company if they'll cover you in Canada until you get the car registered and licensed in Canada.

Usually US insurance covers you in Canada for limited periods of time, depends on your policy but it's very unusual for it not to cover it. Once you've imported it, had CT change the headlights over and gotten the clearance and applied for a new title it won't cover you anymore, but you should have plenty of time to find a new insurance agent while you're doing all that.