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04-19-2018, 02:58 PM
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#1
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Junior Member
Join Date: Jun 2017
Location: Stateline, Nevada
Trailer: 2018 Escape 19
Posts: 16
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Exchange rate - locking in now
We take delivery of our trailer in September - it is now April. I spoke with my bank and am getting a 'foreign currency draft' in Canadian dollars at today's rate. I hold that (no interest) until I pay ETI.
I'll feel silly if the exchange rate is even better in September but worse if the Canadian dollar gets stronger.
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04-19-2018, 03:33 PM
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#2
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Senior Member
Join Date: Jan 2014
Location: North Van., British Columbia
Trailer: 2014 Escape 19, sold; 2019 Escape 21, Sept. 2019
Posts: 8,866
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Quote:
Originally Posted by sdnomis
We take delivery of our trailer in September - it is now April. I spoke with my bank and am getting a 'foreign currency draft' in Canadian dollars at today's rate. I hold that (no interest) until I pay ETI.
I'll feel silly if the exchange rate is even better in September but worse if the Canadian dollar gets stronger.
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You win, I lose and visa versa. Yup, up here we're all hoping that the slump is over and we'll be breaking 80 cents sooner or later. Any less and we feel like our currency is a Canadian peso. Still a bit of a crap shoot though as there are some major issues that could affect how it goes in the next few months.
Ron
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04-19-2018, 05:24 PM
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#3
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Senior Member
Join Date: Mar 2013
Location: North of Danbury, Wisconsin
Trailer: 2018 Escape 21C
Posts: 3,033
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Hopefully the exchange rate will return to historic averages
( $1 Canadian = .88 USD )
This would be beneficial for both countries .
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04-19-2018, 05:27 PM
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#4
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Member
Join Date: Feb 2016
Location: Traverse City, Michigan
Trailer: 2017 Escape 19 "Mitt-Inn"
Posts: 98
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Quote:
Originally Posted by sdnomis
I'll feel silly if the exchange rate is even better in September but worse if the Canadian dollar gets stronger.
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It's like going to the casino, isn't it?
When we decided to buy in early 2016, CAD was at a ten-year low, and just starting to climb. ETI had a fourteen-month backlog. Who knew where the exchange rate was going? We wanted to lock in...
(We could have hardly made this more complicated.)
So we opened a U.S. RBC account, travelled to Sault Ste Marie ON and opened a RBC Canada account, that we funded from the U.S. account at a low transfer cost. (First of two trips to the 'Soo'.) We deposited money in the account to pay for the trailer at around $0.74 USD/CAD.
Then we watched anxiously for fourteen months to see where the rate would ACTUALLY go. Did the FinCEN report and all the fussiness of having a foreign bank account.
Well, the day we xfer'd the payment to Escape, the exchange rate was $0.74, haha. All part of the adventure, I guess.
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04-19-2018, 06:00 PM
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#5
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Senior Member
Join Date: Aug 2015
Location: Benton County, Iowa
Trailer: 2013 Escape 21 Classic Number 6, pulled by 2018 Toyota Highlander
Posts: 8,277
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I’d be bragging about $.74 the rest of the time I owned the trailer. That’s a heck of a discount. You did wonderful to my way of thinking.
Iowa Dave
__________________
Ain’t no trouble jacking a double Burma Shave
Dave
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04-19-2018, 06:13 PM
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#6
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Member
Join Date: Feb 2016
Location: Traverse City, Michigan
Trailer: 2017 Escape 19 "Mitt-Inn"
Posts: 98
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Quote:
Originally Posted by Iowa Dave
I’d be bragging about $.74 the rest of the time I owned the trailer. That’s a heck of a discount. You did wonderful to my way of thinking.
Iowa Dave
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Dave,
Oh yeah, we DO feel pretty good about that, thanks.
Bob
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04-19-2018, 06:22 PM
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#7
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Senior Member
Join Date: Jun 2010
Location: Central, Pennsylvania
Trailer: Escape#5 2022 E19
Posts: 26,268
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Back in April 2016, the exchange rate was at $.75 when I purchased Prairie Schooner. Prior purchases were around $.85 in 2014 and .$95 in 2012
__________________
Jim
Sometime life gets in the way of living.......
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04-19-2018, 06:25 PM
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#8
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Senior Member
Join Date: Mar 2018
Location: washington, Washington
Trailer: Escape 21NE
Posts: 206
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You could avoid all the foreign account hassle and prepay ETI up front the whole amount at today's exchange rate...
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04-19-2018, 07:07 PM
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#9
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Member
Join Date: Feb 2016
Location: Traverse City, Michigan
Trailer: 2017 Escape 19 "Mitt-Inn"
Posts: 98
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Quote:
Originally Posted by felix2
You could avoid all the foreign account hassle and prepay ETI up front the whole amount at today's exchange rate...
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At the time we ordered, I recall that ETI wouldn't accept our payment in advance. In any case, as sound as the Harmatuik's business appeared to be, we wouldn't have been comfortable about it. ETI was 4300 km's away, in a foreign country, building a new plant. And, the trailer we were purchasing was still in development.
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04-19-2018, 07:47 PM
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#10
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Site Team
Join Date: Nov 2008
Location: Portland, Oregon
Trailer: 2014 Escape 5.0 TA
Posts: 11,072
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Quote:
Originally Posted by J&B Mitt
At the time we ordered, I recall that ETI wouldn't accept our payment in advance. In any case, as sound as the Harmatuik's business appeared to be, we wouldn't have been comfortable about it. ETI was 4300 km's away, in a foreign country, building a new plant. And, the trailer we were purchasing was still in development.
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I understand your apprehension, truly. But, I sent tens of thousands of dollars to ETI based on a drawing on a 'cocktail' napkin and NO MOLDs. Plus I was a US buyer sending money to a 'foreign' country. One of the best decisions I've made in my life.
__________________
Donna D.
Ten Forward
2014 Escape 5.0TA
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04-19-2018, 08:38 PM
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#11
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Member
Join Date: Feb 2016
Location: Traverse City, Michigan
Trailer: 2017 Escape 19 "Mitt-Inn"
Posts: 98
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Quote:
Originally Posted by Donna D.
I understand your apprehension, truly. But, I sent tens of thousands of dollars to ETI based on a drawing on a 'cocktail' napkin and NO MOLDs. Plus I was a US buyer sending money to a 'foreign' country. One of the best decisions I've made in my life.
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Oh hey, we're very happy with our Escape trailer. But I guess I'm kind of a wuss about assuming risk.
In my time, I've dealt with small businesses that crashed fairly suddenly, for unforeseen reasons, including fire and a loss of a key employee. We just felt better about mitigating that risk.
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04-19-2018, 10:12 PM
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#12
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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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Yup. An aircraft full of Bigfoot executives crashed years ago. Put them out of business for some time.
__________________
What happens to the hole when the cheese is gone?
- Bertolt Brecht
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04-19-2018, 10:29 PM
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#13
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Senior Member
Join Date: Jun 2013
Location: Felton, California
Trailer: 2018 21' ; 2014 19' (Sold)
Posts: 1,309
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You can also pay with a personal check or Cashier's Check three months before your completion date. For information, contact Lisa in Accounting. Of course, this means that your build sheet has to be done at that time as well ....
__________________
Jan
We do not remember days, we remember moments.
- Cesare Pavese
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04-20-2018, 05:44 AM
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#14
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Senior Member
Join Date: Jun 2010
Location: Central, Pennsylvania
Trailer: Escape#5 2022 E19
Posts: 26,268
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Back in the days of 12-18 month wait times, I always paid my entire purchase price immediately. I also informed them that if there was a cancellation that I would accept an earlier delivery date. Seems to have worked.....
__________________
Jim
Sometime life gets in the way of living.......
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04-20-2018, 08:18 AM
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#15
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Senior Member
Join Date: Dec 2013
Location: Westcliffe, Colorado
Trailer: 2010 EggCamper (#083); 2017 Escape 21 (#053); 2016 F-150 5.0L FX4
Posts: 1,765
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Quote:
Originally Posted by gbaglo
Yup. An aircraft full of Bigfoot executives crashed years ago. Put them out of business for some time.
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Not to expound too much on unfortunate situations, but here in the Southeast, there used to be an expansive chain of family-owned, upscale grocery stores named "Bruno's" until one fateful day when the entire family ownership/management group died in an airplane crash. Bruno's went out of business overnight. To this day, a lot of businesses around these parts now split their executives up across several different flights whenever a group of them is going anywhere.
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04-20-2018, 08:36 AM
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#16
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Senior Member
Join Date: Mar 2013
Location: North of Danbury, Wisconsin
Trailer: 2018 Escape 21C
Posts: 3,033
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My opinion is probably tainted but after working for several businesses that have gone under I am rather apprehensive about extending money / credit to any business or entity.
Loosing a weeks paycheck is one thing , losing 30 years of pension or loosing thousands in credit union savings deductions is another . Don’t ask how I know !!
Bad experiences often shape one’s thinking
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04-20-2018, 09:01 AM
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#17
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Site Team
Join Date: Nov 2008
Location: Portland, Oregon
Trailer: 2014 Escape 5.0 TA
Posts: 11,072
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Yep, it happens. Happened to me. Back in the late 1990s, our union pension was raided by a couple of officers and trustees. They 'loaned' the money to the mob. Three of those jerks went to prison, but that didn't help any of the employees. I was 'out' $123,000 never to be seen again. More than 20 years later it still bites and I have to wonder what I might have now if I had just thrown the money under the mattress!
__________________
Donna D.
Ten Forward
2014 Escape 5.0TA
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04-20-2018, 09:38 AM
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#18
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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 Donna D.
Yep, it happens. Happened to me. Back in the late 1990s, our union pension was raided by a couple of officers and trustees. They 'loaned' the money to the mob. Three of those jerks went to prison, but that didn't help any of the employees. I was 'out' $123,000 never to be seen again. More than 20 years later it still bites and I have to wonder what I might have now if I had just thrown the money under the mattress!
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Hi: Donna D... One lumpy mattress!!!
I shudder to think how much pensioners have lost to RAIDS!!! 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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04-20-2018, 10:28 AM
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#19
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Senior Member
Join Date: May 2012
Location: Santa Cruz, California
Trailer: 2014 Escape 19
Posts: 755
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Quote:
Originally Posted by Donna D.
I understand your apprehension, truly. But, I sent tens of thousands of dollars to ETI based on a drawing on a 'cocktail' napkin and NO MOLDs. Plus I was a US buyer sending money to a 'foreign' country. One of the best decisions I've made in my life.
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I hope you still have that cocktail napkin, framed and mounted on a bulkhead of Ten Forward...
__________________
2019 Tundra CrewMax Limited TRD 4WD
2014 Escape 19
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04-20-2018, 11:02 AM
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#20
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Senior Member
Join Date: Sep 2014
Location: Ventura County, California
Trailer: 2015 Escape 17A
Posts: 2,348
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Quote:
Originally Posted by Donna D.
I understand your apprehension, truly. But, I sent tens of thousands of dollars to ETI based on a drawing on a 'cocktail' napkin and NO MOLDs. Plus I was a US buyer sending money to a 'foreign' country. One of the best decisions I've made in my life.
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Hmm, sort of like Picard signing on as Capt. before the launch of 1701-D.
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