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Old 04-02-2016, 12:11 AM   #21
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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...
Yes, that did happen and ETI went out of their way to keep the original purchaser from losing a lot of money due to the volatile exchange rate. I guess the rules have changed because if a situation changes, it can be a big headache for all parties concerned. And besides, a couple of months out is one thing but over a year out is another. Loren
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Old 04-02-2016, 12:22 AM   #22
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Any decent brokerage firm can help you in the US.
Are you referring to a forex brokerage? or stock?
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Old 04-02-2016, 01:21 AM   #23
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It's all so Loonie to me......
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Old 04-02-2016, 02:24 AM   #24
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It's all so Loonie to me......
Well Toonie in tomorrow, the show might get better!
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Old 04-02-2016, 06:46 AM   #25
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How to hedge exchange rate



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Originally Posted by Mark&Elaine View Post
They suggested I open a Canadian bank account. I assume to exchange US dollars to Canadian at today's rate and hold the account open until you pay for the trailer.
This is just what I was going to suggest.

I did the same in reverse, I opened a US account with my bank a few years ago, to hedge against jumps in exchange rates. The only problem was, I only dumped $20k into it when it was at par. I should have put WAY more in, because it is now all gone, and exchange rates have not been too favourable for me to add to it again.
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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.
This is why they implemented the $2,000 deposit which is non-refundable once the trailer starts into production.
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Old 04-02-2016, 08:11 AM   #26
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This is why they implemented the $2,000 deposit which is non-refundable once the trailer starts into production.
$2,000 is nothing compared to the (perhaps) $28,000 + still owed at completion... if someone backs out.
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Old 04-02-2016, 08:38 AM   #27
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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?

Barry
I just mentioned this on similar thread but since they are a Canadian bank I went to BMO and had no luck. They will open US dolar accounts in Canada but not Canadian dollar accounts in the US. They couldn't explain it, just company policy.
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Old 04-02-2016, 08:59 AM   #28
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Are you referring to a forex brokerage? or stock?
Our brokerage firm Morgan Stanley bought some foreign currency for us then wired funds to UK when we needed to pay tuition. No additional cost to us. It is one of the services they provide to be competitive.
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Old 04-02-2016, 09:07 AM   #29
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I just mentioned this on similar thread but since they are a Canadian bank I went to BMO and had no luck. They will open US dolar accounts in Canada but not Canadian dollar accounts in the US. They couldn't explain it, just company policy.
Rather than going to a Canadian bank like BMO, could you not open a Canadian dollar account at your US bank? It kinda sounds like not, I just find that very surprising.
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Old 04-02-2016, 09:20 AM   #30
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Rather than going to a Canadian bank like BMO, could you not open a Canadian dollar account at your US bank? It kinda sounds like not, I just find that very surprising.
One of those many surprising things about your southern neighbors, eh? Heck, when we were heading off on our latest Viking River cruise I couldn't even find a local bank that had any Euros so we could have some for when we landed. Once coming home from Ontario I still had some CAD left and once we were more than about 50 miles from the border banks didn't want to exchange them for USD for me.
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