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06-03-2015, 07:40 PM
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#1
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Senior Member
Join Date: Jun 2015
Location: Seattle, Washington
Trailer: 2016 21'
Posts: 156
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Buy now for favorable Canadian exchange rate?
I know NOTHING about historic exchange rates. Right now it's about .8. (Canadian to US dollars). Seems pretty good! Would it be wise to pay for the trailer now at this rate? Is it likely to stay about the same? Go up? Go down? Any financial wizards out there? Any crystal balls?
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06-03-2015, 07:44 PM
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#2
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Senior Member
Join Date: Nov 2010
Location: Denison, Texas
Trailer: 2015 21'; 2011 19' sold; 4Runner; ph ninezero3 327-27ninefour
Posts: 5,136
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It is indeed an excellent rate at the moment. Could go up or down. Your choice to get it now or later.
__________________
Cathy. Floating Cloud
"Live in the sunshine, swim the sea, drink the wild air.... "
Emerson
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06-03-2015, 07:55 PM
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#3
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Senior Member
Join Date: Apr 2013
Location: Emerson, Manitoba
Trailer: 2016 Escape 5.0TA, 2022 F150 2.7EB
Posts: 1,848
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Well we were in the U.S. when our dollar dropped to below 78 cents in March, we went home and our dollar went up, now we are back in the U.S. and it's dropped again. Just our luck.
If the price of oil begins to recover then our dollar will rise again but doubt it will ever reach par as it was only a couple of years ago, in fact when we came to the U.S. in May of 2013 it was 1.03!
Adrian
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06-03-2015, 08:11 PM
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#4
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Senior Member
Join Date: Jan 2009
Location: Pollock Pines, California
Trailer: 2009 Escape 19
Posts: 453
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Hi Maury and Julie - Since we bought our trailer in '09, I've never seen the rate go below .77. .8 is good, you might ask Escape how to capture the best conversion without getting ripped off in "fees".
Bruce
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06-03-2015, 10:08 PM
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#5
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Site Team
Join Date: Jun 2014
Location: Canyon Lake, Texas
Trailer: 2015 19 "Past Tents", 2021 F150 Lariat 2.7L EB
Posts: 10,222
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Maury and Julie, no I don't have a crystal ball, but I can tell you that historically, a rate in the .79 or .80 range is very good. The rate is greatly affected by the price of a barrel of oil, which is currently down. Anyone who deals in oil futures can tell you it's hard to know where it's headed the next day, let alone the next month. I would simply take advantage of a good rate while I can.
__________________
"You can't buy happiness, but you can buy an RV. And that is pretty close."
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06-03-2015, 10:14 PM
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#6
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Senior Member
Join Date: Mar 2014
Location: Olathe, Kansas
Trailer: 2015 21ft Escape "Spirit of the Plains", 2014 GMC Sierra with max tow package
Posts: 1,100
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The rate is kind of bouncing between .78 and .82 and there was talk of it getting to .75 but who knows. In marketing grain they say if you hit the peak you've waited to long. Getting a check to ETI to run through their bank probably will get you about as good of rate as you're going to get. Last September we got 1.0772 with our deposit check and 1.2004 two weeks ago with the trailer payment check. Quite a change in a short period of time. I'm sure this has to create headaches for Reace. Loren
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06-03-2015, 10:42 PM
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#7
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Senior Member
Join Date: Apr 2013
Location: Kamloops, British Columbia
Trailer: 2024 Bigfoot 21RB
Posts: 255
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No one knows what will happen with exchange rates, e.g. oil up and C$ up or US interest rates up and US $ up or combo of both, etc. I think though it is likely most of the decrease in the Canadian dollar has happened.
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06-03-2015, 10:56 PM
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#8
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Senior Member
Join Date: Oct 2008
Location: North Vancouver, British Columbia
Trailer: 2009 Escape 17B 2020 Toyota Highlander XLE
Posts: 17,136
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My advice, from experience, when it comes to investing or buying dollars is do the opposite of what I've done.
__________________
What happens to the hole when the cheese is gone?
- Bertolt Brecht
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06-04-2015, 06:15 AM
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#9
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Senior Member
Join Date: Jul 2012
Location: Burlington, Vermont
Trailer: 2014 17b/ 2012 Chevy Colorado
Posts: 736
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Our bank charged us $35 dollars to wire funds to Escapes' bank. Transaction took only three days, so the rate was nearly identical to the rate in affect at the time we decided to go for it. The amount we saved paid our entire excise tax in the us and the rate is far more favorable now.
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06-04-2015, 08:15 AM
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#10
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Senior Member
Join Date: Apr 2012
Location: Edmonton, Alberta
Trailer: 2013 19' & 2013 15B
Posts: 2,636
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Quote:
Originally Posted by gbaglo
My advice, from experience, when it comes to investing or buying dollars is do the opposite of what I've done.
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How do you reconcile your investment in an Escape 17' with that statement?
__________________
2013 19' \ 2013 15B, 2020 Toyota 4Runner TRD Offroad
"It is better to remain silent at the risk of being thought a fool, than to talk and remove all doubt of it." - 1907, Maurice Switzer
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06-04-2015, 08:58 AM
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#11
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Senior Member
Join Date: Feb 2010
Location: Oswego, New York
Trailer: 2017 Escape 21C, 2018 Ford F150
Posts: 5,373
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Well, I'm with Glenn (gbaglo). I am one of the few that bought ab Escape trailer when the Canadian dollar was worth more than the US dollar. I do envy those purchasing now!
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06-04-2015, 09:31 AM
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#12
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Senior Member
Join Date: Jun 2015
Location: Seattle, Washington
Trailer: 2016 21'
Posts: 156
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Thanks for all the great input! I especially like gbaglo's wise counsel. 😄
I think we'll go ahead and pay now. Sounds like It's not likely to go much below .8
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06-04-2015, 10:33 AM
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#13
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Senior Member
Join Date: Oct 2008
Location: St. Thomas not BVI., Ontario
Trailer: 2014 Escape 5.0TA / 2016 Ram Eco Diesel 4X4
Posts: 8,038
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Quote:
Originally Posted by gbaglo
My advice, from experience, when it comes to investing or buying dollars is do the opposite of what I've done.
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Hi: gbaglo... Like the song says "You can't roller skate in a Buffalo herd". Alf
escape artist N.S. of Lake Erie
__________________
Quote Bugs Bunny..."Don't take life too seriously, none of us get out of it ALIVE"!!!
'16 Ram Eco D. 4X4 Laramie Longhorn CC & '14 Escape 5.0TA
St.Thomas (Not the Virgin Islands) Ontario
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06-04-2015, 11:25 AM
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#14
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Senior Member
Join Date: Sep 2014
Location: Ventura County, California
Trailer: 2015 Escape 17A
Posts: 2,347
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Quote:
Originally Posted by escape artist
Hi: gbaglo... Like the song says "You can't roller skate in a Buffalo herd". Alf
escape artist N.S. of Lake Erie
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Don't forget the refrain line in the song; it's specifically for Escapees: "You can be happy if you've a mind to!"
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06-04-2015, 03:32 PM
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#15
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Member
Join Date: Jun 2013
Location: Raleigh, North Carolina
Trailer: 2016 21
Posts: 84
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Quote:
Originally Posted by Maury&Julie
I know NOTHING about historic exchange rates. Right now it's about .8. (Canadian to US dollars). Seems pretty good! Would it be wise to pay for the trailer now at this rate? Is it likely to stay about the same? Go up? Go down? Any financial wizards out there? Any crystal balls?
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Yes, it is a good rate - 10 year chart :
http://finance.yahoo.com/echarts?s=FXC+Interactive#{"range":"max","showPreP ost":false}
no wizard here, though, where it goes from here.
I'm hedging and buying the FXC, though, to lock in some of it until the check is written.
Good luck.
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06-04-2015, 04:08 PM
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#16
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Senior Member
Join Date: Nov 2010
Location: Denison, Texas
Trailer: 2015 21'; 2011 19' sold; 4Runner; ph ninezero3 327-27ninefour
Posts: 5,136
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What we did was pay most but have a few thousand more. The way the rate generally goes, doubt it is possible to go wrong with the rest because we have saved so much already and continue to save even if the rate starts going the wrong way. Because it is so far in our favor.
__________________
Cathy. Floating Cloud
"Live in the sunshine, swim the sea, drink the wild air.... "
Emerson
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06-04-2015, 05:15 PM
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#17
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Senior Member
Join Date: May 2015
Location: Rangeley, Maine
Trailer: 2005 Escape 17B Sold 2016. 2016 Escape 19 Sold 2019. 2019 Escape 21 picked up Sep 2019
Posts: 173
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Quote:
Originally Posted by Floating Cloud
What we did was pay most but have a few thousand more. The way the rate generally goes, doubt it is possible to go wrong with the rest because we have saved so much already and continue to save even if the rate starts going the wrong way. Because it is so far in our favor.
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That's what we have done too. Paid 1/3 a few days ago. Will send most of the balance tomorrow or early next week. The rate is just too good right now... I'm no financial wizard, but it seems to me that it is more likely to go up than it is to go down much further.
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06-04-2015, 05:25 PM
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#18
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Member
Join Date: Mar 2015
Location: Federal Way, Washington
Trailer: 2015 Escape 21/ 09 2015
Posts: 94
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Don't try to time any market...stocks, bonds, or currency exchange rates. Pay some now, during construction and at closing. I am sure that you will be very happy with the overall average when it is all done. Think of it like dollar cost averaging as you would with stocks and bonds. Market timing doesn't work.
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