For Yankees thinking about Escapes & Bigfoots. - Fiberglass RV


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Old 01-14-2018, 03:42 PM   #1
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For Yankees thinking about Escapes & Bigfoots.

If I knew anything, I'd already be fully retired, but I do expect to retire this year.

I follow people who think they know something, and a few are thinking that the value of the U.S. dollar could fall this year. I don't know.

If they do know something, it could take more U.S. dollars to buy anything priced in Canadian dollars, like Escapes and Bigfoots.

It currently takes about 80 cents to buy one Canadian dollar, which in effect gives us a discount. It has varied widely at times.

I am not advising anyone what to do. I am saying the exchange rate could change, and to look into it.

Let's say you are comfortable with the current exchange rate and want to lock it in.

Step 1. Put down a deposit on a trailer, perhaps more than the minimum. That too has risk.

Step 2. Consider converting all or part of the purchase balance and hold it.

A. You may be able to open an account in Canadian dollars in a bank, such as TD Bank - Toronto Dominion. There are 5 other big Canadian Banks, but TD Bank is in many parts of the U.S. They probably know how to hold an account in Canadian. You might have to have the account in Canada.

Plan B? Most big city banks can convert currency for you, which you could then stuff into your mattress. ...or a safer, safe deposit box. This could also avoid having to report why you have $20,000 in a foreign bank account.

Good luck.
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Old 01-14-2018, 03:51 PM   #2
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Measuring the value of something in dollars, whether Canadian or USD, is like measuring the length of something with a yard stick printed on a large rubber band.
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Old 01-14-2018, 04:40 PM   #3
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I don't know about Bigfoot, but with an Escape the exchange rate is determined the day/date they receive the funds. Not when you put down put down a deposit. The deposit does not lock in the rate.
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Old 01-14-2018, 05:23 PM   #4
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Donna, we agree. That is why some may want to convert the balance owed from $ US to $ Canadian at the time of purchase, not delivery. Then no surprises either direction, because you already exchanged. Your mileage may vary.
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Old 01-14-2018, 05:50 PM   #5
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Well, you could buy Canadian dollars now for about 80 cents US, or you can wait a few months, when some predict CAD to be 65 cents. Or oil could rise significantly and the CAD might be 98 cents.
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Old 01-14-2018, 06:04 PM   #6
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Right again, Glenn. It is likely to fluctuate. Do your own homework. Instead of converting it all now, you could convert a portion every month or so. Converting it now is a way to eliminate exchange risk and not worry about it.

I like the U.S. Stock market, but if I had tuition to pay over the next four years, I doubt I'd leave it all in stocks. "Trees don't grow to the sky without shedding a few leaves."
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Old 01-14-2018, 10:05 PM   #7
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I bought mr Bigfoot to escape the craziness!
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Old 01-15-2018, 05:50 AM   #8
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I wouldn’t personally think the highly paid athletes on New York’s baseball team would not be thinking about Escape or Bigfoot trailers. They would more likely go for multi-million dollar luxury coaches with every amenity imaginable.

That being clarified, I fail to see why putting down a larger deposit to a trailer manufacturer whose waiting list is months long because of demand and is seemingly doing well financially (consider Escape’s recent manufacturing facility upgrade) would constitute much of a risk. In fact, if I were concerned about locking in an exchange rate my deposit would be for the full purchase rate. While some people obviously cannot afford to do that, anyone who has enough assets to immediately convert U.S. dollars to Canadian as “exchange rate insurance” would be able to do so. Furthermore, any time I have exchanged U.S. dollars for Canadian through my rather large bank, I have had to pay a fee. The bottom line is that buying a Canadian made trailer can be a gamble. You either pay upfront OR you hope that the exchange rate remains the same or maybe even becomes more favorable to you. Either way, sometimes you win, sometimes you lose. But either way, you get a far better trailer than that “stickie junk” they manufacture in Indiana.
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Old 01-15-2018, 07:33 AM   #9
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Yes, Sometimes you win, sometimes you lose. But, you don't have to lose.

It is not far fetched that currency could fluctuate 10% between today and the August/September delivery dates Escape is quoting today.

Is this real? If you put $2,500 down on an Escape last May 11th and had $25,000 remaining when the US $ was at 1.37 $CA, but waited until Today, when the exchange is 1.24 $CA:

The US $ required would have increased from $18,248 to $20,161, which is a 9.48% increase. Except in many cases your balance is more than $25,000.

So a 10% change is not far fetched. It is enough to pay for a nice option.

Yes, it could go the other way, but over the past 7 months, it didn't.

Of course your situation will vary. It is totally up to you.
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Old 01-15-2018, 09:38 AM   #10
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CPW I totally agree with you matter of fact considering the low interest rates if I was in the market for one of these I would prepay for it. Maybe with this you might get a cash discount you never know until you ask and the savings on that might be a lot! In my business I used to always take a 2% cash discount if the invoice was paid in 10 days. We tracked it one time and it amounted to a lot. In this case an cash offer might move things along faster even. As the old sayin goes there is a lot of ways to skin a cat!!
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Old 01-15-2018, 09:58 AM   #11
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Hmmm,

As we are consideing a 19' Escape something to ponder...

However as the investment folks admonish,
"Past preformance is no guarantee of future results"

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Old 01-15-2018, 03:06 PM   #12
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past and present

I am sure there is a saying for this but oh if I could only have seen in the future.

every venture into the stock market has been a disaster me I know I have friends who swear they have made a killing but I have never been shown real proof. much of this stuff you pay a commission buying and a commission selling I am dealing with this now on withdrawals of ira monies!

now days offer me a discount off a selling price and if I need it not want it I would jump on it!!

as for this purchase the dismal state of affairs on investments would make me think of throwing out the cash if I really wanted it of course then there would be no turning back although I bet the manufacture would give most of the money back if a person had something happen!

bob
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Old 01-15-2018, 03:40 PM   #13
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If you want to speculate on currency, buying Canadian has little to do with it. You could do the same thing by buying currency, and selling it when you wanted to, or when it has gone up or down to your comfort level. Most investors in currency watch it much closer than months away.
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Old 01-15-2018, 03:45 PM   #14
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Computer programs are buying and selling within nanoseconds.
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