Long Wait for Trailer but Great US->CAD Exchange Rate - Page 2 - Escape Trailer Owners Community

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Old 07-15-2015, 01:11 PM   #11
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I kind of had the same questions and handled it this way. My research into ETI shows that they are in the top 20% of revenue for all trailer manufactures and their revenue per employee is above the average of most of their competitors. This would indicate to me a well managed company. I could have purchased a report on ETI's finances from Dun & Bradstreet but I didn't think that was necessary. Just the fact of the backlog of orders on their production schedule says a lot. And they survived the great recession where Oliver ceased production for several years.

As for the exchange rate as the wise old trader said, it will fluctuate. I have been involved in grain marketing and have traded commodities on the Chicago Board of Trade, so you learn to take a profit when you have one. Yes, the US dollar has gotten a few cents stronger since I sent in the check to ETI, but I saw a profit and took it. Actually we gained over $4,000 just since last September when we put down our deposit. Unexpected international events can happen overnight and change the whole picture. It is a crap shoot out there and everyone has to do what they feel comfortable with. Loren
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Old 07-15-2015, 01:16 PM   #12
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Thanks for the input. It's reassuring to know that others did take the plunge of paying ETI for their rigs far in advance of pickup.
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Old 07-15-2015, 01:26 PM   #13
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I am using xe.com and they are offering me over 27% today. It is very simple to setup if you don't worry about the ETI banking information for free ACH transactions. You simply put in your bank information, the ETI address under recipient, accept the current offer and select a free mailed draft to ETI. They got my last Draft in about 7 days. The nice thing is you lock in the rate when you accept the offer. If you have any issues there is a 24 hrs support line and they are very helpful.
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Old 07-15-2015, 01:34 PM   #14
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We had the same discussions here at home. After looking at it all, we paid about 1/2 a few months back and last week when the rate got to .78 we sent a payment fed-x last friday and it got there monday. It converted at 1.256 and I was pleased at that.
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Old 07-15-2015, 01:50 PM   #15
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Quote:
Originally Posted by Loren & Cathy View Post
I kind of had the same questions and handled it this way. My research into ETI shows that they are in the top 20% of revenue for all trailer manufactures and their revenue per employee is above the average of most of their competitors. This would indicate to me a well managed company. ...

It's not surprising to read this.

In ETI's "story" on their website,
http://escapetrailer.com/our-escape-story/
Tammy writes of Reace "putting his degree in business to good use."
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Old 07-15-2015, 05:11 PM   #16
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When the exchange rate moved over the winter we made a big payment in February via a cashiers check. ETI deposited it immediately and we got a great rate. We had a small balance remaining ($2kUSD) that we paid about three weeks ago. All in anticipation of a July 16 completion date. So we basically paid in advance 90+ percent and saved about $4k on the exchange rate. In retrospect we would do the exact same thing in the future. We now have a $6.70 CAD credit with ETI.
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Old 07-15-2015, 06:08 PM   #17
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We took advantage of the exchange rate and paid early. Wrote 2 large cheques from our credit union about 3 months apart. Both arrived in about 8 days time. It may be the old fashioned way of sending money but it worked for me. I guess ED nurses don't worry as much as engineers, we just take the plunge. Our pick up date is October 8th, we still owe $200.00 Canadian.

Soooooooo excited.
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Old 07-15-2015, 06:19 PM   #18
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Don't worry, JStelly, you'll use it quite quickly once you get there. Don't ask how I know
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Old 07-15-2015, 06:27 PM   #19
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The trailer needs to be paid for at the time of completion and some have done that on pick-up, however, it seems that most by far pay large sums in advance, if not the whole amount.

We had an excellent rate when we paid the bulk a little while back and that protects us from any event that might suddenly ruin the rate. The rate in the last few days is the best in recent years, so it is a great time to pay. We will take advantage of that in paying the last few thousand soon.

You can take your chances and hope that the rate becomes even better, and maybe it will and maybe it won't, or you can do what most do and pay some large payments at different times with different rates, thereby protecting yourself from any big reversal.
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Old 07-15-2015, 06:32 PM   #20
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I am starting to get the picture that a lot of us have paid early. We didn't hit the peak of the exchange rate but in the grain trade they say if you hit the top price, you've waited to long. I do feel sorry for Reace battling it out with these volatile rates because for years it was essentially flat and a lot of his supplies come from the US. But again look at all of the US customers it has brought in. Loren
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