Escape - USD and CAD Pricing/Payments

[Karl@Escape]

Hi all,
Last year we changed to USD and CAD pricing models at the request of many US customers. As of 26 March 2020, we have now fully transitioned to USD for US customers and CAD for Canadian customers. There are a few older posts on the forum which contain info etc on the old process, this is causing some confusion with new or returning customers. I hope this notice will clear things up. It certainly makes the process easier to navigate and complete with less stress.

This applies to all customers currently in process and future customers. If you need to contact us please email sales@escapetrailer.com
Karl@Escape

[Brian B-P]

Originally Posted by Karl@Escape

As of 26 March 2020, we have now fully transitioned to USD for US customers and CAD for Canadian customers.

So what does that mean?

Are both USD and CAD price lists valid, each for customers in those countries, and both lists will be maintained? That's not what was originally stated (which was USD pricing for everyone and payments accepted in CAD from Canadian customers), but it's fine if that's the current policy, and it would be easier for Canadians than the original plan.

[oreo]

Got to be tough as our dollars fluctuate , parts and supplies come from the U.S. and labor and overhead is Canada.

[Dave Walter]

Originally Posted by Karl@Escape

Hi all,
Last year we changed to USD and CAD pricing models at the request of many US customers. As of 26 March 2020, we have now fully transitioned to USD for US customers and CAD for Canadian customers. There are a few older posts on the forum which contain info etc on the old process, this is causing some confusion with new or returning customers. I hope this notice will clear things up. It certainly makes the process easier to navigate and complete with less stress.

This applies to all customers currently in process and future customers. If you need to contact us please email sales@escapetrailer.com
Karl@Escape

Does not really make a lot of sense to me. Since Escape operates in Canada, it would make most sense to post prices in $Cdn, possibly with a calculator widget on the site to convert that to an estimate in $US, with actual $US based on the conversion rate at the time of payment!

Otherwise having prices posted in both $Cdn for Canadian customers and $US for American customers will likely lead to one or both groups being unhappy because the prices advertised will not keep up with fluctuations in the exchange rate!

[Greg A]

Explanation not really making sense, unless it means they are trying to take the exchange rate out of it and this is the price no matter what happens to the exchange rate. If that’s the case, it sure changes a big selling point for US buyers especially right now.
Dave’s idea seems to be more inline with what should be the procedure, rather than punish the much larger buyer pool.

[tgunter101]

Originally Posted by Dave Walter

Does not really make a lot of sense to me. Since Escape operates in Canada, it would make most sense to post prices in $Cdn, possibly with a calculator widget on the site to convert that to an estimate in $US, with actual $US based on the conversion rate at the time of payment!

Otherwise having prices posted in both $Cdn for Canadian customers and $US for American customers will likely lead to one or both groups being unhappy because the prices advertised will not keep up with fluctuations in the exchange rate!

Agreed 100%! And really no need for the widget. Just Google ‘CAD to USD’ and the widget pops up.

Given the probable upcoming economic storm, now isn’t the time to introduce friction with your largest client base.

[cpaharley2008]

"Clear as mud" comes to mind........

[Brian B-P]

Originally Posted by Dave Walter

Since Escape operates in Canada, it would make most sense to post prices in $Cdn, possibly with a calculator widget on the site to convert that to an estimate in $US, with actual $US based on the conversion rate at the time of payment!

That's what they always did (without the calculator which would only cause problems if it didn't display exactly what people might expect), but this apparently caused great stress for some U.S. buyers, and so for their benefit ETI introduced USD pricing.

Originally Posted by Dave Walter

Otherwise having prices posted in both $Cdn for Canadian customers and $US for American customers will likely lead to one or both groups being unhappy because the prices advertised will not keep up with fluctuations in the exchange rate!

Yes, there is that risk. Oh, well... life goes on.

[Brian B-P]

Originally Posted by Greg A

Explanation not really making sense, unless it means they are trying to take the exchange rate out of it and this is the price no matter what happens to the exchange rate. If that’s the case, it sure changes a big selling point for US buyers especially right now.

I don't see how this changes anything for U.S. buyers. The price is USD is a smaller number than in CAD, due to the exchange rate between the currencies. Anyone wanting to play the currency markets to benefit from short-term fluctuations doesn't need to purchase a trailer to do it.

[rbryan4]

I've met alot of US owners of Escapes, but none for whom the old pricing method caused stress. This sounds like some folks who complained about something they should have seen as an advantage instead. A case of 'be careful what you wish for, you just might get it.'

[tgunter101]

Originally Posted by Brian B-P

I don't see how this changes anything for U.S. buyers. The price is USD is a smaller number than in CAD, due to the exchange rate between the currencies. Anyone wanting to play the currency markets to benefit from short-term fluctuations doesn't need to purchase a trailer to do it.

The issue is that the USD price uses an exchange rate that hasn’t been seen in more than 2 years and results in USD pricing that is more than 10% higher than CAD pricing, using the current rate. It’s not a short-term rate fluctuation and I highly doubt that anyone is using a trailer purchase to play the market. In fact, it seems like just the opposite: ETI is playing the currency market to charge a higher price for US customers.

When I first started looking at Escape, I realized that there was a pricing variance, but didn’t care, as I could use a service to pay in CAD. In all honesty, I’d still probably bite the bullet and buy an Escape, but it gives the feeling of being taken advantage of. Not a good vibe to create with your customers when there is no need to do so. Those are the kinds of moves that erode customer loyalty.

Karl, if you’re following this thread, here’s a suggestion: advertise the exchange rate advantage for US customers and let them lock in pricing at the current rate. Maybe ask for a higher deposit and maybe make it a limited time thing. Who knows, maybe you’ll stimulate sales by getting some folks off the fence. If you’re not trying to leverage the rate, it’s win win.

[Centex]

Originally Posted by cpaharley2008

"Clear as mud" comes to mind........

Same for this US resident

My simple, clear-the-water, yes-or-no, question for Karl@Escape ....

When I, as a new potential customer, initiate contact with your sales force fully disclosing:

• I am a US resident
• I would like to use your 'normal' US-resident delivery process (specifically: I take possession of the trailer on US soil at the location designated by ETI in the vicinity of Sumas, WA, USA)
• I would like to work up a Build & Price sheet and sign an order / purchase agreement based on your then-current CAD price sheets
• I will commit to making ALL payments (initial deposit, required progress payments, and final balance) in CAD by direct transfer to your designated Canadian bank account (I will effect payments in CAD via Transferwise)
• Having made a commitment to conduct the transaction wholly on the basis of CAD I willingly accept all risks of exchange-rate vagaries that may occur between placement of initial deposit and making of final payment

Will we be able to conduct and conclude our business on that basis?

[SWCO]

Originally Posted by rbryan4

I've met alot of US owners of Escapes, but none for whom the old pricing method caused stress. This sounds like some folks who complained about something they should have seen as an advantage instead. A case of 'be careful what you wish for, you just might get it.'

I agree.

[kdelaney]

Originally Posted by rbryan4

I've met alot of US owners of Escapes, but none for whom the old pricing method caused stress. This sounds like some folks who complained about something they should have seen as an advantage instead. A case of 'be careful what you wish for, you just might get it.'

Where are these people? Who was howling to pay 10% more to avoid the exchange? Speak up if you are out there.

[oreo]

This seamed to be thread about opinions about a company ripping you off on the dollar . This is a business dealing with troubling times ahead of all of us , Lets hope they stay a float to continue to build trailers and supply local jobs into the future .

[oreo]

Please close thread .

[rbryan4]

Originally Posted by oreo

This seamed to be thread about opinions about a company ripping you off on the dollar . This is a business dealing with troubling times ahead of all of us , Lets hope they stay a float to continue to build trailers and supply local jobs into the future .

The pricing policy was apparently in place long before the coronavirus outbreak, and therefore has nothing to do with it. As for closing the thread, we do that when a thread becomes abusive, strays irreparably off topic, or things become too uncivilized. I've not seen that in this thread yet, but I thank you for the input.

[oreo]

Sad Response , Were all in a Changed world moving forward.

[Bakes99]

Here’s a thought, if someone has a problem with their business practices, why not go to the source instead of speculating and airing it out on the forum.

[gbaglo]

Well, we could speculate about that...