Buy now for favorable Canadian exchange rate?

[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?

[float5]

It is indeed an excellent rate at the moment. Could go up or down. Your choice to get it now or later.

[emers382]

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

[Bruce Wray]

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

[rbryan4]

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.

[Loren & Cathy]

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

[gharper]

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.

[gbaglo]

My advice, from experience, when it comes to investing or buying dollars is do the opposite of what I've done.

[yardsale]

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.

[Dave Walter]

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.

How do you reconcile your investment in an Escape 17' with that statement?

[Vermilye]

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!

[Maury&Julie]

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

[escape artist]

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.

Hi: gbaglo... Like the song says "You can't roller skate in a Buffalo herd". Alf
escape artist N.S. of Lake Erie

[dfandrews]

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

Don't forget the refrain line in the song; it's specifically for Escapees: "You can be happy if you've a mind to!"

[Bill_75]

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?

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.

[float5]

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.

[sallemann]

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.

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.

[luckyone]

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.