Capturing favorable US/CAD conversion - Page 2 - Escape Trailer Owners Community
Free 7 Day Trial RV GPS App RV Trip Planner Campground Reviews RV Maintenance Free 7 Day Trial ×

Go Back   Escape Trailer Owners Community > Escape Me | General Topics > Paper Escape
Click Here to Login
Reply
 
Thread Tools Display Modes
 
Old 01-09-2014, 09:00 PM   #21
Site Team
 
Donna D.'s Avatar
 
Join Date: Nov 2008
Location: Portland, Oregon
Trailer: 2014 Escape 5.0 TA
Posts: 9,498
I can't worry about this money exchange stuff. I have enough stress in my life! As long as the exchange rate is par or less, I'll be fine with whatever happens. I'm looking at my build sheet as being US dollars. I know that kind of attitude may mean I lose money... and that can be substantial. But still, I refuse to turn myself into a pretzel to save based on the exchange rate for international dollars. Some may think I'm foolish. I've made my decision and it's mine to regret or not. YMMV.
__________________

Donna D. is online now   Reply With Quote
Old 01-09-2014, 09:08 PM   #22
Senior Member
 
Ruthe's Avatar
 
Join Date: Oct 2012
Location: Highland Park, New Jersey
Trailer: Escape 19 February 2014
Posts: 946
Probably a good decision. We paid a couple months ahead and if we'd waited the exchange rate would have been even better than the one we got. But on the other hand it could have been worse. I don't have the stomach for the stock market either.
__________________

Ruthe is offline   Reply With Quote
Old 01-09-2014, 09:18 PM   #23
Senior Member
 
gbaglo's Avatar
 
Join Date: Oct 2008
Location: North Vancouver, British Columbia
Trailer: 2009 Escape 17B 2020 Toyota Highlander XLE
Posts: 15,689
Financial gurus are predicting 85 to 88 cents for Canadian dollar at 2014 year end. It's all good for you Donna. Money left over for gas.
__________________
What happens to the hole when the cheese is gone?
- Bertolt Brecht
gbaglo is offline   Reply With Quote
Old 01-09-2014, 09:38 PM   #24
Site Team
 
Donna D.'s Avatar
 
Join Date: Nov 2008
Location: Portland, Oregon
Trailer: 2014 Escape 5.0 TA
Posts: 9,498
I'm expecting to spend... just throwing this number out... $33,000 on my 5er. Yeah a bunch of money. I spent less on my first house. It is what it is. If it's less, cool. More but that's my fault. I have a good relationship with my banker and she knows what my plans are. Those folks know more about what's going to happen than the general public (anybody heard about "insider" trading?) She's got my back. As I've said, as long as it doesn't cost me more than I'm expecting in US dollars.. I'm good with that. If I get a "reward." COOL, more money for fuel and site fees! But to me, it's not worth spending hours on the WWW to follow the money....
Donna D. is online now   Reply With Quote
Old 01-10-2014, 07:35 AM   #25
Senior Member
 
Ruthe's Avatar
 
Join Date: Oct 2012
Location: Highland Park, New Jersey
Trailer: Escape 19 February 2014
Posts: 946
As the Canadian dollar goes down, U.S. made products that are used by Escape are going to cost Escape more in Canadian dollars which will ultimately push up the price of the trailers. But right now it's good to be paying in U.S. dollars.
Ruthe is offline   Reply With Quote
Old 01-30-2014, 07:19 PM   #26
Senior Member
 
KarenH's Avatar
 
Join Date: Oct 2012
Location: Bellingham and Glacier, Washington
Trailer: 2013 Escape 15A
Posts: 1,993
Send a message via Skype™ to KarenH
Here's a current article on the exchange rate: Canadian dollar headed to 85 cents US, TD says - Business - CBC News

That's a 15% swing since I bought my trailer...not peanuts by any means.
__________________
Karen Hulford
2013 Escape 15A, "Egbert"
Ford 150 XLT 5.8L
Bellingham, Washington
KarenH is offline   Reply With Quote
Old 01-30-2014, 08:12 PM   #27
Site Team
 
Donna D.'s Avatar
 
Join Date: Nov 2008
Location: Portland, Oregon
Trailer: 2014 Escape 5.0 TA
Posts: 9,498
US/Canada down to 90 cents US as of 18 hours ago....
Donna D. is online now   Reply With Quote
Old 01-31-2014, 07:18 AM   #28
Site Team
 
cpaharley2008's Avatar
 
Join Date: Jun 2010
Location: Central, Pennsylvania
Trailer: Escape#4, 2019 Escape21 DejaView pulled by 2014 Ram Hemi/8sp
Posts: 23,380
That 10% differential would pay for a delivery…..something to think about for those waiting.
__________________
Jim
What you get by achieving your goals is not as important as what you become by achieving your goals....
Goethe
cpaharley2008 is offline   Reply With Quote
Old 01-31-2014, 07:37 AM   #29
Senior Member
 
Jrn56's Avatar
 
Join Date: Apr 2013
Location: Cottage Grove, Minnesota
Trailer: 2013 Escape 19
Posts: 365
Quote:
Originally Posted by cpaharley2008 View Post
That 10% differential would pay for a delivery…..something to think about for those waiting.
Or it would help pay for a nice trip to the Canadian Rockies! We were able to save 5% last summer.
__________________
John and Brenda
Cottage Grove, MN
Jrn56 is offline   Reply With Quote
Old 01-31-2014, 07:42 AM   #30
Member
 
Join Date: Sep 2013
Location: Williamsburg, Virginia
Trailer: 2017 Escape 21
Posts: 80
I saw it as a chance to add options. Custom fabric for my wife and aluminum wheels for me. The door for more options is closed now (without penalty). Otherwise I'd keep adding more options as the rates drop in my favor.

John
John G. is offline   Reply With Quote
Old 01-31-2014, 08:05 AM   #31
Senior Member
 
Join Date: Dec 2012
Location: Edmonton, Alberta
Trailer: 1979 Boler B1700
Posts: 13,554
A decrease in the value of the Canadian dollar relative to the U.S. dollar means a cost reduction to U.S. buyers... but only as long as the price (in Canadian dollars) stays the same. Substantial parts of the trailer (axle, appliances, etc) come from the U.S. and the same exchange rate change causes them to cost ETI more, so in the long term the price has to go up.

U.S. residents may want to take advantage of what is to some extent a temporary condition.
Brian B-P is offline   Reply With Quote
Old 01-31-2014, 08:30 AM   #32
Senior Member
 
bisonbill's Avatar
 
Join Date: Nov 2013
Location: Windham, CT, Connecticut
Trailer: Escape 21
Posts: 187
Don't forget about the Bank transaction costs

Quote:
Originally Posted by KarenH View Post
Here's a current article on the exchange rate: Canadian dollar headed to 85 cents US, TD says - Business - CBC News

That's a 15% swing since I bought my trailer...not peanuts by any means.

I wish we could actually get the rate the TD bank economist is talking about. I've been tracking the USDCAD rates for the last month or so, and on this past Monday, the rate in the Wall Street Journal and on Yahoo Finance was just 89.77 cents. The headlines called it a four year low.

So I decided it was time and went down to my local bank, which happens to be TD Bank, to get a Canadian check, figuring I'd get something near a 10% discount on the money.

I forgot about the bank fees. Banks make a fortune in currency exchange. The best rate the bank had was 94.67 cents. So I got a 5% currency discount but end up paying the bank almost a 5% fee (or 5% more than the rates shown online) to buy Canadian currency.

A little more research indicated the 89 cent (going to 85 cent) rates from the internet are only for the big time companies with their own trading operations. If you have to use a bank, there is about a 5% fee on either side.

If you want to get an estimate of what its actually going to cost to change US in Canadian, Bank of America has a calculator on their website ( https://www.bankofamerica.com/foreig...y-converter.go )

As of this morning, if you want to buy Canadian currency (perhaps to pay for your trailer), the price is about 94 cents. If you want to sell Canadian currency, the price is about 84 cents. Yahoo says the USDCAD relationship is at 89 cents. I should have been a bank.

On the bright side, the temp is over freezing today, My 21 went into production this week, it'll be done in March, and we're scheduled for an orientation on April 23.
__________________
Bill and Ann-Marie

Think BIG from the start, its the same effort!
bisonbill is offline   Reply With Quote
Old 01-31-2014, 10:53 AM   #33
Senior Member
 
Join Date: Jan 2013
Location: Morro Bay, California
Trailer: 2016 Escape 21
Posts: 330
I don't believe Escape charges a fee if you simply send them a US bank check and our Credit Union doesn't charge a fee for issuing a bank check. You may wish to check with Tammy or Kim to confirm, but it would save you a bundle in fees.
JaneM. is offline   Reply With Quote
Old 01-31-2014, 11:06 AM   #34
Site Team
 
cpaharley2008's Avatar
 
Join Date: Jun 2010
Location: Central, Pennsylvania
Trailer: Escape#4, 2019 Escape21 DejaView pulled by 2014 Ram Hemi/8sp
Posts: 23,380
ETI does not charge any fee in processing your payment but the amount of the exchange rate is variable based upon their bank. Just remember to put double postage for mail to canada from us.
__________________
Jim
What you get by achieving your goals is not as important as what you become by achieving your goals....
Goethe
cpaharley2008 is offline   Reply With Quote
Old 01-31-2014, 11:26 AM   #35
Senior Member
 
Join Date: Jan 2013
Location: Morro Bay, California
Trailer: 2016 Escape 21
Posts: 330
I didn't think so. We've been making some payments this way and have received exchange rates that seem fair - slightly less than what the internet states the rate is, but no fees so for us it's working well.
JaneM. is offline   Reply With Quote
Old 01-31-2014, 11:46 AM   #36
Senior Member
 
techfan's Avatar
 
Join Date: Oct 2012
Location: Longview, WA, Washington
Trailer: 2013 Escape 15B - 2014 Nissan Frontier SL
Posts: 854
There was rather a lengthly discussion of rates and fees a year ago when we bought our Escape. It was more critical then because the balance was to the Canadian dollar. After considerable research, I found that ETI (Tammy) generates some of the most favorable exchange rates because of the volume of business they do. As I concluded and stated a year ago, follow Tammy's instructions and you will get the best rate available. Again, if I remember correctly, stage your money in the US bank that Tammy lists and then you can have her move money when you instruct. All that being said… if I were buying now I'd be extremely happy because our trailer would have been over $2,000 less than last year this time.
__________________
Tim and Julie
2013 Escape 15B
2014 Nissan Frontier, Previous 2012 Santa Fe
techfan is offline   Reply With Quote
Old 01-31-2014, 12:11 PM   #37
Senior Member
 
gbaglo's Avatar
 
Join Date: Oct 2008
Location: North Vancouver, British Columbia
Trailer: 2009 Escape 17B 2020 Toyota Highlander XLE
Posts: 15,689
You can save even more money by making the trip to Chilliwack. Your American dollar goes further here, so it only makes sense to spend more.
__________________
What happens to the hole when the cheese is gone?
- Bertolt Brecht
gbaglo is offline   Reply With Quote
Old 02-02-2014, 10:20 PM   #38
Senior Member
 
Join Date: Sep 2013
Location: SLO County, California
Trailer: 2014 21 2019 Expedition
Posts: 4,224
Chase Explorer Visa has no foreign exchange fees and you'll get 30,000 United Miles. No annual fee for first year.
Rossue is offline   Reply With Quote
Old 02-02-2014, 10:47 PM   #39
Senior Member
 
Join Date: Dec 2012
Location: Edmonton, Alberta
Trailer: 1979 Boler B1700
Posts: 13,554
Quote:
Originally Posted by Rossue View Post
Chase Explorer Visa has no foreign exchange fees and you'll get 30,000 United Miles. No annual fee for first year.
Kidding, right?

Visa - or any other credit card company - would charge Escape Trailer Industries at least a couple percent (any maybe much more) of the transaction amount... several hundred to a couple thousand dollars. This is the reason no one accepts credit card payment for big-ticket items that don't have obscene mark-up built into the price. I have heard of people paying for cars with credit cards, but the cost of that was considered by the dealer in the negotiated price.
Brian B-P is offline   Reply With Quote
Old 02-02-2014, 11:22 PM   #40
Senior Member
 
gbaglo's Avatar
 
Join Date: Oct 2008
Location: North Vancouver, British Columbia
Trailer: 2009 Escape 17B 2020 Toyota Highlander XLE
Posts: 15,689
The credit card companies actually charge the retailer even more than two per cent on "Premium" cards. Nothing in life is free.
__________________

__________________
What happens to the hole when the cheese is gone?
- Bertolt Brecht
gbaglo is offline   Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off




» Featured Campgrounds

Reviews provided by

Disclaimer:

This website is not affiliated with or endorsed by Escape Trailer Industries or any of its affiliates. This is an independent, unofficial site.


All times are GMT -5. The time now is 08:50 AM.


Powered by vBulletin® Version 3.8.8 Beta 4
Copyright ©2000 - 2021, vBulletin Solutions, Inc.
Copyright 2012 Social Knowledge, LLC All Rights Reserved.
×