Prices Don't Reflect Current Exchange Rate

debra.traveler · 05-09-2023, 01:46 PM

I'm considering purchasing an Escape, I am in the US. As I look at the starting prices on the Escape website the conversion from Canadian Dollar to US Dollar is very far off from the current exchange rate. Like $4000 - $5000 in favor of the CA. Also I went through the "Get a Quote" portal and again the US amount is way above the CA. I chatted with a rep on their website asking why this is so and the response is "I will look into the subject". No answer back yet. Is there a work around for this? Or does anyone have insight as to why the disparity?

AllanEdie · 05-09-2023, 02:19 PM

Is there a reason that you can't simply pay in Canadian dollars if you have a better exchange rate available? Sorry if this is a dumb question.

debra.traveler · 05-09-2023, 02:32 PM

That's not a dumb question - I'm wondering the same thing. I have to contact my bank to see if I can get a cashiers check in CA dollars. I know I cannot bring $50,000 cash across the border. There is a lot of paperwork involved in that. I'm thinking of looking into opening an international bank account. I don't deal in this financial realm so basically I am guessing.

Rockhead · 05-09-2023, 02:38 PM

You can cross the border with a certified cashier Ck from your bank made out to escape for the amount owed on the trailer. This is what we did when we bought ours.

debra.traveler · 05-09-2023, 02:41 PM

Did they give you the current exchange rate or did you pay the extra $4000? Or did they exchanged evenly when you bought?

debra.traveler · 05-09-2023, 02:42 PM

Was your check in Canadian dollars?

Ron in BC · 05-09-2023, 02:55 PM

There will always be some disparity.

Canadians show up at ETI, say thanks a lot, hook up and go.

US trailers are exported to the US. There are costs involved.

There will always be disparity. When the Canadian dollar is stronger it's less. From my point of view I'm hoping the disparity lessens.

Ron

Ron in BC · 05-09-2023, 02:58 PM

Quote:

Originally Posted by debra.traveler

I know I cannot bring $50,000 cash across the border. There is a lot of paperwork involved in that.

Actually you can and the paperwork takes only a few minutes. As long as there's no suspicion that it's dirty money and showing the reason for the cash, the purchase, it's a non-event.

Ron

debra.traveler · 05-09-2023, 03:15 PM

Well that was my thought, there are expenses involved. I was hoping for explanation of what exactly those expenses are. For example, are the trailers built differently? I know there is no duty tax between US and Canada. Anyway, thank you for your thoughts. I will look into exchanging funds in US or getting some kind of CA check.

PS - I hope you were not implying that US customers are unappreciative and a pain to deal with.

Ron in BC · 05-09-2023, 03:31 PM

Two obvious expenses are the customs broker and the transport costs.

Not implying anything it's a legitimate question. Actually since I've owned a manufacturing company that sold the same product in Canada and the US the whole thing is deja vu for me.

In my case I said, fine, pay in Canadian dollars here but you do have to pay sales tax etc. and then claim it back and import the product into the US.

Ron

Fender · 05-09-2023, 03:33 PM

I'm not sure what source you are using when estimating the US$ to Can$ conversion however my experience has been that most online currency conversion estimators do not reflect what a financial institution will actually charge.

debra.traveler · 05-09-2023, 03:34 PM

Thank you for the info. I think I should look for a used one in the US

debra.traveler · 05-09-2023, 03:51 PM

Well, it turns out to be a moot point. Escape has called me to explain US citizens get the price that is quoted in US dollars. US citizens cannot get CA pricing or pay in CA dollars. So that it that.

debra.traveler · 05-09-2023, 03:52 PM

US Citizens cannot pay in CA dollars - according to Escape rep. Now I know.

Ron in BC · 05-09-2023, 03:56 PM

Quote:

Originally Posted by debra.traveler

Thank you for the info. I think I should look for a used one in the US

That seems to be becoming more viable by the day. In years gone by there weren't nearly as many units in the US and used units were not so common as they are now.

I think that we've begun to see some of the pandemic inspired purchases now coming on the market. Prices seem to still be reflecting the former scarcity but I think they'll soften a bit as more used units hit the market.

Ron

oldwave · 05-09-2023, 04:41 PM

Back in the day they priced in Canadian dollars and the payment credits reflected the exchange rate that day. So it is what it is now.

Radar1 · 05-09-2023, 05:11 PM

Back in 2020 when we got ours, they were still allowing USA to buy in Canadian dollars earlier in the year. Unfortunately they changed to USA pays the USA price, either early that year or late 2019.
I had already researched the rates and had my exchange all ready to go but ended up having to pay in USD.

Rossue · 05-09-2023, 07:47 PM

Yep- another Private Equity Arbitrage- style gambit and it has worked fantastically for their bottom line.
https://www.google.com/search?q=defi...hrome&ie=UTF-8

**occer** · 05-09-2023, 08:04 PM

You could always buy one of the private sales located in Canada.

escape artist · 05-10-2023, 08:39 AM

Quote:

Originally Posted by Rossue

Yep- another Private Equity Arbitrage- style gambit and it has worked fantastically for their bottom line.
https://www.google.com/search?q=defi...hrome&ie=UTF-8

Hi: Rossue... I'm afraid the days of buying a Canadian trailer with US. dollars and getting a discount rate near what the banks give is a thing of the past!!!
Private Equity firms are where the wealthy park their money to make more money!!! They aren't fussy about how they do it either.

Alf
escape artist N.S. of Lake Erie

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