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Old 03-29-2014, 08:14 AM   #41
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When I tried wiring funds on my first Escape purchase it took longer than normal mail. It depends on your bank and most banks have to use a clearing bank out of New York and that is where there could be a delay. After a week I complained and my bank then investigated and found the blockage was on someone's desk who was on vacation. You may think it is all automated, but there is a person who has to physically make that wire go thru to ETI's account. On my second Escape I just used the mail and had no issues on my payments.
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Old 03-29-2014, 08:52 AM   #42
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Like Jim I am currently in the stage of paying for my second Escape. In the first go around four years ago it was a different story, there was not the body of knowledge that the current forum members posses and share. I researched my first payment method but I did not have many choices. It seems most credit unions do not have the ability to handle foreign transactions and small banks are able but often the branches are completely in the dark. I used a small bank for a foreign wire transfer, it cost $45 and from what I can tell it was done at current exchange rates. Back then I paid a 105% premium due to foreign exchange.

Since those days it seems that foreign transactions have become more common and more transparent. I have read where banks can charge a 1.5% fee on foreign transactions, on a $25,000 trailer this amounts to $375 US. I have also read where banks do not offer the published exchange rates, but use a lower rate. As an example, Google Wells Fargo Foreign Exchange, their published rate for today is 4.5% higher than the XE Currency rate. I am not sure how and who pays that rate but I think the lesson to be learned is know what your rate is before sending money.

After checking with my bank yesterday I will use the same method of sending a foreign wire for $45 and pay a fee from their corresponding bank of $26 and know they are offering me a very competitive exchange rate. It appears that sending a check drawn on US dollars has been a very good experience and that would be my second choice. As far as sending a wire transfer to Escape using their US bank, I have Escape's instructions in front of me and that bank is Wells Fargo. I do not know what rate you can expect from that process.
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Old 03-29-2014, 09:09 AM   #43
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Originally Posted by fudge_brownie View Post
...
As far as sending a wire transfer to Escape using their US bank, I have Escape's instructions in front of me and that bank is Wells Fargo. I do not know what rate you can expect from that process.
You will get a very good rate - Tammy initiates the conversion.
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Old 03-29-2014, 09:36 AM   #44
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We used Essex as well for a boat loan and it was seamless -- and much cheaper than anyone else we checked with. It pays to go with someone who understands the vehicle you're buying.
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Old 03-29-2014, 11:43 AM   #45
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We sent bank checks and sent them via ordinary mail. We had no issues whatsoever, received an excellent exchange rate, and had no fees associated with it. I wouldn't hesitate to pay the same way again.
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Old 03-29-2014, 12:16 PM   #46
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We sent bank checks and sent them via ordinary mail. We had no issues whatsoever, received an excellent exchange rate, and had no fees associated with it. I wouldn't hesitate to pay the same way again.
I did the same thing, except for the final payment. Tammy and I went to her nearby bank and the Canadian amount was ascertained and I just wrote check, which was promptly deposited.
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Old 03-29-2014, 12:28 PM   #47
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I had no problem financing my trailer through my credit union, and they offered the best rates I could find.
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Old 03-29-2014, 09:25 PM   #48
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Thank you folks, for allowing me to co-opt the thread a little. I'll run it by my credit union, then try Essex.
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Old 04-11-2014, 07:12 PM   #49
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Currently filling out a build-sheet, this can get pricey lol. I am an Alberta resident. I heard you can apply for a PST refund if the trailer is removed from BC and registered in another province. Anyone done this?
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Old 04-11-2014, 07:31 PM   #50
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I am an Alberta resident. I heard you can apply for a PST refund if the trailer is removed from BC and registered in another province. Anyone done this?
I have not done this, but from my reading of BC's PST on Vehicles bulletin (found on a BC government Taxes & Rebates page) you may not get a refund... you may be exempt and thus do not pay it at all. ETI staff would presumably know about this, because they would need to document the exemption.

Quote:
Vehicles Purchased for Use Outside BC
If you purchase a vehicle in BC for use outside BC, you are exempt from PST provided that all
the following criteria are met:
 the vehicle is a type that is eligible for registration under the vehicle registration legislation
as defined in the Provincial Sales Tax Act (i.e. it is not a vehicle that cannot be registered),
 the vehicle is purchased for use primarily outside BC,
 the vehicle will not be used in BC for a business purpose,
 the vehicle will not be registered in BC, and
 if you are purchasing the vehicle as an individual, you are not a resident of BC.
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