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Old 04-01-2016, 11:22 PM   #11
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Originally Posted by Mark&Elaine View Post
I also was told that ETI will not accept payment before the trailer is completed going forward.
Now that's new. I guess that's one way to lock in a rate. It's the rate when it's done.
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Old 04-01-2016, 11:32 PM   #12
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Any decent brokerage firm can help you in the US.
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Old 04-01-2016, 11:32 PM   #13
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I also was told that ETI will not accept payment before the trailer is completed going forward.

Boy, that surprises me too. Since 99% of the trailers are custom built to owner specs, I'm surprised they'd wait that long... too many people back out at the last minute and ETI would be stuck. When I bought Ten Forward, ETI preferred final payment within six weeks of completion.
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Old 04-01-2016, 11:35 PM   #14
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Perhaps there are tax implications for all this cash being thrown at them now.
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Old 04-01-2016, 11:45 PM   #15
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Perhaps there are tax implications for all this cash being thrown at them now.
Hadn't thought about that... these are for trailers being built next year. Maybe the rules will change about full payment on Jan. 1, 2017?
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Old 04-01-2016, 11:47 PM   #16
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Pre-pay becomes a liability for ETI: it's complicated

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Originally Posted by Donna D. View Post
Boy, that surprises me too. Since 99% of the trailers are custom built to owner specs, I'm surprised they'd wait that long... too many people back out at the last minute and ETI would be stuck. When I bought Ten Forward, ETI preferred final payment within six weeks of completion.
Yes, but what about folks who pay way ahead of time and then have a change of circumstance, and need to get their $$,$$$ back or sell a trailer that hasn't even started production yet? Do they sell their build slot? (That could get weird very quickly.) Wait 'til their trailer is built and then sell it? The problem with just taking a refund is if US/CAN currency exchange is involved, the conversion could mean $$$$ lost. I dunno I can see both sides of the issue...
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Old 04-01-2016, 11:50 PM   #17
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I have a US dollar account at the Credit Union I deal with down the road, can those in the US not open a Canadian dollar account at their local bank or Credit Union and hold the money their until needed?

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Old 04-01-2016, 11:58 PM   #18
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Barry,
most US banks, unlike banks in other developed countries, don't offer specific currency accounts.

Rossue,
I think that would be unearned income.. it'll be great for cash flow and won't usually be taxed unless they are doing cash accounting??

Mark,
Can you see if they can allow Americans to open accts online? or better yet, setup an escrow account for the rest of us!! LOL
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Old 04-02-2016, 12:00 AM   #19
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Yes, but what about folks who pay way ahead of time and then have a change of circumstance, and need to get their $$,$$$ back or sell a trailer that hasn't even started production yet? Do they sell their build slot? (That could get weird very quickly.) Wait 'til their trailer is built and then sell it? The problem with just taking a refund is if US/CAN currency exchange is involved, the conversion could mean $$$$ lost. I dunno I can see both sides of the issue...
That might have already happened as a trailer just recently came up for sale that hadn't been made yet and Reace and Tammy allowed it to be sold to another person prior to completion due to fact that the owner would have lost a bunch of money if he had cancelled because his refund would have been less than the money he had already paid towards the trailer when the exchange rate was more in his favour. This is a bit like the export of the trailers to the US. At one time a US citizen could pick up the trailer in Canada and export it themselves but I think ETI ran into problems proving that the trailer was exported and now they export them to Sumas and then turn the trailer over to the owner there. A US citizen does not have to pay Canadian taxes but the selling company has to prove the trailer was exported to exempt the purchaser from paying the Canadian taxes.

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Old 04-02-2016, 12:02 AM   #20
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Barry,
most US banks, unlike banks in other developed countries, don't offer specific currency accounts.
You guys need to get with the times!!
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