After I mentioned that I landed and imported my car, I received plenty of queries on the process. I am listing down the process for everyone's benefit.
First check if your car can be imported (http://www.riv.ca/ImportingAVehicle.aspx). If you have a lien on the car, you have to get a letter from the lien holder that the car can be permanently exported out of USA.
Go to simplifiedtradesolutions.com and go to Get an AES ITN -> Vehicles to Canada.
Fill up the form with your personal and car details as requested and submit.
Within a few hours, you will receive an AES ITN and a paypal invoice (for $35) from Simplified Trade Solutions. Pay the amount.
E-mail BUFFALOVINNYOFFICE@cbp.dhs.gov your VIN and ITN. You will receive a confirmation from them and then you are ready to import the car 72 hours later.
The confirmation from BUFFALOVINNYOFFICE@cbp.dhs.gov is good for 6 months.
Fill form B4 (One for things you are carrying and another for goods to follow) with the broad list of items you plan to import. e.g. Electronics, Jewellery, Kitchen etc.
If the price of any category exceeds $10,000 you should create a separate sheet on plain paper with the list of items that constitute that category. Otherwise CBSA will think one single item's value exceeds $10,000. If the value of any single item exceeds $10,000 we are supposed to pay tax on the amount in excess of $10,000.
Take the picture of individual items if possible; because it will help them easily understand that the category consists of many lower value items, rather than one item that is worth $10000 or more. If you sell any item that it is on the form B4 within a year, you are supposed to notify CBSA. If you are bringing any live substance (like pets, plants, earth etc.) or food or liquid money in excess of $5000, you are supposed to declare it.
Take the Queenston Lewiston bridge to cross into Canada because that's the only bridge where we can export a car. Get there between 8AM and 4PM because the US customs vehicle export office closes at 4PM. Take the following documents with you or you will have to run back and forth to your car to get them.
Make sure you don't miss the US immigration exit on the left just before getting to the bridge.
1) Title 2) ITN 3) VIN# 4) E-mail confirmation from BUFFALOVINNYOFFICE@cbp.dhs.gov 5) All passports of all passengers, including expired ones especially if the old one contains US visa 5) I-94 & copy of I-797 notice of action if applicable and just to be safe -> 6) copy of registration 7) insurance card 8) proof of inspection 9) rental contract, if you are towing a rented trailer.
After they inspect all documents, they will come down and inspect the VIN#. If everything is on order, they will stamp your title and are done.
Then proceed back to the Canada border. Everything from then on is a piece of cake. You will be given directions on everything. You will be asked for an address and contact number, so they can mail you the permanent resident card. Make sure the address is accessible for at least 2 months because it will take 6-8 weeks to receive the card. I gave a relative's address. Do whatever is convenient for your circumstance. If you are importing a car you will be given Form 1 to fill up. Even though I wasn't asked for it, as per other forum members it is a wise idea to keep proof of funds and other personal documents handy, just in case.
There is no tax on items being importing unless the value of any one item exceeds $10,000 or if you plan to sell them within a year. There is no fees for the process of exporting and importing your personal car at the border. I don't know about charges at RIV because I haven't got there yet.
Finally use all this information at your own discretion. Don't come after me if anything goes wrong.