Used Buyers be Aware - Page 6

cpaharley2008 · 03-09-2015, 06:56 AM

No one knows what the exchange rate will be in 6 months, no one knows what the lottery winning numbers will be? It is a gamble and you can not beat it. You either pay now with a good rate or pay later with the rate then, you can not "hedge" your bet. I'd suggest paying it all now, it certainly is better now than when I bought, but I'm not losing any sleep over it. I'm camping....

J Mac · 03-09-2015, 12:09 PM

Quote:

Originally Posted by cpaharley2008

No one knows what the exchange rate will be in 6 months, no one knows what the lottery winning numbers will be? It is a gamble and you can not beat it. You either pay now with a good rate or pay later with the rate then, you can not "hedge" your bet. I'd suggest paying it all now, it certainly is better now than when I bought, but I'm not losing any sleep over it. I'm camping....

Why would you say, "you can't hedge your bet?" If one buys their dollars now, don't they just float with the exchange rate?
Wouldn't that be hedging ones bet?

Brian B-P · 03-09-2015, 12:33 PM

But you can hedge your bet. That just means to bet on both sides, reducing the greatest possible payoff (because the other side of the bet will lose), but also reducing the worst possible loss (because the other side of the bet will win). In this case, if you are paying with U.S. currency and purchase Canadian currency worth half the price of the trailer converted now at today's rate, and pay the going rate of the day for the other half when the full payment comes due at pick up, your overall cost will be a compromise between the rates of today and then. Essentially, you're betting both that the Canadian dollar will go down further (the part you convert at pickup time), and that it won't (the part you convert now).

Interest rates are so low that it seems to me that the easiest way to do this is to just make a huge down payment (half the price of the trailer) to Escape now - you would lose any interest earned while waiting for the trailer, but does that one percent or so really matter?

I agree that there are better things to lose sleep over... and it's even better to get a good night's sleep, where ever you are.

t-twnbob · 03-09-2015, 02:21 PM

Quote:

Originally Posted by cpaharley2008

No one knows what the exchange rate will be in 6 months, no one knows what the lottery winning numbers will be? It is a gamble and you can not beat it. You either pay now with a good rate or pay later with the rate then, you can not "hedge" your bet. I'd suggest paying it all now, it certainly is better now than when I bought, but I'm not losing any sleep over it. I'm camping....

I agree, we are less than 2 months from delivery

and if I had a reliable, trustworthy way to get a cashiers check to the factory I would do it. Didn't a member on this board have a payment sent by registered mail go to Japan and not show up at ETI for over a month? Nope, don't want to do that! Bob

J Mac · 03-09-2015, 02:34 PM

Quote:

Originally Posted by t-twnbob

I agree, we are less than 2 months from delivery

and if I had a reliable, trustworthy way to get a cashiers check to the factory I would do it. Didn't a member on this board have a payment sent by registered mail go to Japan and not show up at ETI for over a month? Nope, don't want to do that! Bob

try a courier.

Oregonian · 03-09-2015, 02:43 PM

I recently put two large personal checks in the mail (USPS) to ETI and each arrived approximately ten to twelve days later. I put two first class stamps on each envelope. Tammy sent me an amended invoice reflecting the actual exchange rate into CND shortly after receiving each payment.

**rbryan4** · 03-09-2015, 03:27 PM

Quote:

Originally Posted by Oregonian

I recently put two large personal checks in the mail (USPS) to ETI and each arrived approximately ten to twelve days later. I put two first class stamps on each envelope. Tammy sent me an amended invoice reflecting the actual exchange rate into CND shortly after receiving each payment.

In my case, it was three forever stamps on the envelopes each time, since First class postage to Canada is a little over $1 USD. Both got there without a problem, in about 8 to 10 days.

Snadry · 03-09-2015, 04:33 PM

Yes it happened to us.
Sandi and Dave

Brian B-P · 03-09-2015, 05:37 PM

Registered mail is a way to get confirmation of sending and receiving, but not a way to get either speed or reliability. Couriers offer it all - confirmation, speed, tracking, and perhaps better reliability - but at a much higher cost.

Personally, I would use FedEx for a critical financial document if I didn't have a modern (that is, electronic rather than paper) alternative method.

Dave Walter · 03-09-2015, 07:35 PM

Etransfer works great within Canada. Have used it for multi thousand dollar transfers with no hassles. Don't know whether cross border etransfer services are available though.

**Donna D.** · 03-09-2015, 07:35 PM

Has anyone sent their BIG check to ETI using International mail? Whether postal or by carrier (FedEx or UPS, etc.) and had a different/better solution? I know I can send international using FedEx and it will be delivered to ETI in less than five days. YMMV

Jim Bennett · 03-09-2015, 09:45 PM

Quote:

Originally Posted by ice-breaker

Etransfer works great within Canada. Have used it for multi thousand dollar transfers with no hassles. Don't know whether cross border etransfer services are available though.

I am using this more and more, all the time. I have found there to be a $3,000 limit on transfers though, is this maybe just some banks, or accounts?

**rbryan4** · 03-09-2015, 09:49 PM

Quote:

Originally Posted by Donna D.

Has anyone sent their BIG check to ETI using International mail? Whether postal or by carrier (FedEx or UPS, etc.) and had a different/better solution? I know I can send international using FedEx and it will be delivered to ETI in less than five days. YMMV

We didn't, but I think that's the smart way to go. It's expensive, but for a one time large check, the ability to track and guarantee delivery is worth it.

MacMan · 03-09-2015, 09:58 PM

My wife sent out check to ETI via regular mail and it took something like 20+ days or more. She called ETI and they told her all mail to Canada first goes to New York, gets some type of special sorting performed, and then on to Canada. How true this is, I don't know but that is what we were told.

Dave Walter · 03-09-2015, 10:09 PM

Quote:

Originally Posted by Jim Bennett

I am using this more and more, all the time. I have found there to be a $3,000 limit on transfers though, is this maybe just some banks, or accounts?

Maybe you are right About the limit, Jim. I have done at least three transactions in the $2000-$3000 range in the past year, and have not hit a limit yet.

GerriJ · 03-10-2015, 11:20 AM

Quote:

Originally Posted by MacMan

My wife sent out check to ETI via regular mail and it took something like 20+ days or more. She called ETI and they told her all mail to Canada first goes to New York, gets some type of special sorting performed, and then on to Canada. How true this is, I don't know but that is what we were told.

I have received regular mail from the US in quite a bit less time than that. Yesterday I received an envelope that was mailed 7 days ago. Packages are in the 20+ day range. I think Canada customs ponders over them them for a while.

cpaharley2008 · 03-10-2015, 11:27 AM

My first payment to ETI took close to 2 weeks and my wire took close to 10 days. I did not realize that Canada took extra postage, my third payment by mail with extra postage took 4 days!!

KarenB · 03-10-2015, 12:37 PM

I just sent a big check 2 weeks ago and it took about 5 days to get there and only 5 days after that to clear the bank.....

Brian B-P · 03-10-2015, 02:20 PM

I've never had regular mail from the U.S. to my home in Canada take as long as twenty days, but transit time is highly dependent on routing, so where the item originates and where it is destined are important. Mail within Canada can easily take over five working days if multiple sorting locations are involved; distance doesn't really matter, since first-class mail routinely travels by air so almost all the time is spent in sorting plants.

mk1549 · 03-10-2015, 04:28 PM

Quote:

Originally Posted by MacMan

My wife sent out check to ETI via regular mail and it took something like 20+ days or more. She called ETI and they told her all mail to Canada first goes to New York, gets some type of special sorting performed, and then on to Canada. How true this is, I don't know but that is what we were told.

Sent a check via regular mail February 17th from Alabama and crystal emailed me today saying it just got there.
I think next check will be fed ex
Marion

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