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Old 11-10-2014, 05:20 PM   #1
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Exchange Rates / Brokering

I've seen threads on the topic of currency exchange and values when paying for the trailer, but I'm still not 100% clear on it.

1- the exchange rate is very favorable for the dollar right now. How would I "capture" that rate?

2- do you have a preferred bank/broker to handle the conversion, or does ETI accept a check in USD?

Thanks for any info.
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Old 11-10-2014, 05:36 PM   #2
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I think you'll be OK paying on pick-up. Everything I've heard and read indicates that Canadian dollar will stay around 87 cents or sink even lower ( high 70s ).
Google Globe and Mail Report on Business and have a look around.
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Old 11-10-2014, 06:05 PM   #3
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Robert,
I set up a Western Union account and used them for all my transactions. All funds needed to be CDN.

Steve
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Old 11-10-2014, 06:08 PM   #4
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rbryan4,

1- I suppose you could always pay ETI early. Setting up an account at XE (web site) is a fairly easy way to convert US funds to Canadian funds. Tammy can give you ETI's bank account info.

2- See above. I do not believe ETI accepts US currency, although that may have changed since we bought our rig.
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Old 11-10-2014, 06:13 PM   #5
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I did a wire transfer for my first payment, takes about (2) days for it to hit ETI account. Tammy can email you instructions. Its my preferred method of payment. I did have to pay my bank $40.00 for the service, but again, its quick and easy. I do agree with gbaglo, all indications are that the CD (loonie) is going to stay lower for the foreseeable future. But, do you want to chance not taking advantage of this very favorable exchange rate. Exchange rates are similar to mortgage rates, no one knows for certain where they're headed.
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Old 11-10-2014, 06:14 PM   #6
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Quote:
Originally Posted by Washingtonia View Post
rbryan4,

1- I suppose you could always pay ETI early. Setting up an account at XE (web site) is a fairly easy way to convert US funds to Canadian funds. Tammy can give you ETI's bank account info.

2- See above. I do not believe ETI accepts US currency, although that may have changed since we bought our rig.
Sent in a check (US) for our deposit, got credit for exchange rate at the time. Simple enough.
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Old 11-10-2014, 06:43 PM   #7
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Thanks all. I'll use XE or do a wire transfer through my broker. He doesn't charge me for wires, so that's a bonus. I trade currency via Oanda on the MT4 platform, and Glenn's right, the CAD has been tanking-- but I don't trade it against the USD so I haven't really been paying attention.
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Old 11-10-2014, 06:51 PM   #8
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When we put our deposit down the rate was 98 Canadian to $1.00 American and i thought that was a great deal because the year before it had been reversed. I was all set to pay the whole thing, but my husband kept saying to wait and the Canadian dollar kept going down down down -- I think when it went down to 94 cents we paid for the trailer and it went down a little more before we would have had to pay in full anyway. But how low can it go? I keep thinking it can't be good for Escape because so much of their inventory comes from the U.S. and they are committed to the trailer prices at this point up to a year ahead of time.
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Old 11-10-2014, 07:54 PM   #9
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Ruthe,

True, the exchange rate makes their US parts more expensive. On the other hand, they haven't had to offer a sale lately because of a plethora of US customers. Sounds like their build wait time has lengthened considerably. I think they'll be OK.
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Old 11-10-2014, 09:32 PM   #10
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When I bought Ten Forward, it started with the $500 deposit (paid with a credit card), then when I went up to ETI four months before delivery, I wrote a huge personal US check. Two-three days before I was to go up for pickup, Tammy sent me an email stating what the final amount was going to be. I went to the Credit Union and got a certified check for $128.

Worked for me, YMMV

After talking with Tammy on pickup day, I know ETI prefers that the trailer be totally paid for a minimum of six weeks in advance. Something about international money and lag time. After all, you ARE getting title to the trailer the day you pick it up (or delivery) and ETI doesn't want to have any grief.
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