For Yankees thinking about Escapes & Bigfoots. - Fiberglass RV
Journey with Confidence RV GPS App RV Trip Planner RV LIFE Campground Reviews RV Maintenance Take a Speed Test Free 7 Day Trial ×


Reply
 
Thread Tools Search this Thread Display Modes
 
Old 01-14-2018, 03:42 PM   #1
Senior Member
 
Name: Tom
Trailer: Sprinter 'til I buy
Denver, CO
Posts: 944
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.
Tom 72 is offline   Reply With Quote
Old 01-14-2018, 03:51 PM   #2
Senior Member
 
Bruce H's Avatar
 
Trailer: Sold Bigfoot. Shopping for Arctic Fox 22G
Missouri
Posts: 701
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.
Bruce H is offline   Reply With Quote
Old 01-14-2018, 04:40 PM   #3
Senior Member
 
Donna D.'s Avatar
 
Trailer: 1988 16 ft Scamp Deluxe
Posts: 25,697
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.
__________________
Donna D.
Ten Forward - 2014 Escape 5.0 TA
Double Yolk - 1988 16' Scamp Deluxe
Donna D. is offline   Reply With Quote
Old 01-14-2018, 05:23 PM   #4
Senior Member
 
Name: Tom
Trailer: Sprinter 'til I buy
Denver, CO
Posts: 944
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.
Tom 72 is offline   Reply With Quote
Old 01-14-2018, 05:50 PM   #5
Senior Member
 
Glenn Baglo's Avatar
 
Trailer: Escape 17 ft
Posts: 8,317
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.
__________________
What happens to the hole when the cheese is gone?
- Bertolt Brecht
Glenn Baglo is offline   Reply With Quote
Old 01-14-2018, 06:04 PM   #6
Senior Member
 
Name: Tom
Trailer: Sprinter 'til I buy
Denver, CO
Posts: 944
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."
Tom 72 is offline   Reply With Quote
Old 01-14-2018, 10:05 PM   #7
Junior Member
 
Name: Ed
Trailer: Bigfoot
California
Posts: 15
I bought mr Bigfoot to escape the craziness!
Dr C is offline   Reply With Quote
Old 01-15-2018, 05:50 AM   #8
Senior Member
 
C&G in FL's Avatar
 
Name: Carl
Trailer: 2015 Escape 5.0TA
Florida
Posts: 1,689
Registry
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.
C&G in FL is offline   Reply With Quote
Old 01-15-2018, 07:33 AM   #9
Senior Member
 
Name: Tom
Trailer: Sprinter 'til I buy
Denver, CO
Posts: 944
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.
Tom 72 is offline   Reply With Quote
Old 01-15-2018, 09:38 AM   #10
Senior Member
 
Name: bob
Trailer: Was A-Liner now 13f Scamp
Missouri
Posts: 3,209
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!!
k0wtz is offline   Reply With Quote
Old 01-15-2018, 09:58 AM   #11
Senior Member
 
BatDude's Avatar
 
Name: Bat Dude
Trailer: Escape
Michigan
Posts: 347
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"

Bat Dude
__________________
Conservation biologist specializing in bats. Now stepping aside from paid $ bat work and just Escaping, painting and mentoring grad students
BatDude is offline   Reply With Quote
Old 01-15-2018, 03:06 PM   #12
Senior Member
 
Name: bob
Trailer: Was A-Liner now 13f Scamp
Missouri
Posts: 3,209
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
k0wtz is offline   Reply With Quote
Old 01-15-2018, 03:40 PM   #13
Senior Member
 
Name: Eric
Trailer: 1987 Casita 16
Illinois
Posts: 503
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.
EricAllyn is offline   Reply With Quote
Old 01-15-2018, 03:45 PM   #14
Senior Member
 
Glenn Baglo's Avatar
 
Trailer: Escape 17 ft
Posts: 8,317
Computer programs are buying and selling within nanoseconds.
__________________
What happens to the hole when the cheese is gone?
- Bertolt Brecht
Glenn Baglo is offline   Reply With Quote
Old 01-15-2018, 08:06 PM   #15
Senior Member
 
Name: Daniel A.
Trailer: Bigfoot 17.0 1991 dlx
British Columbia
Posts: 741
Registry
All I can say or add is that here in Canada we can hold both Canadian or US dollar accounts and many of us do for travel purposes.

When the Canadian dollar goes up against the US dollar I buy US dollars in my account. Yes the US dollar is still the bench mark for international travel.

You folks in the USA are sure with your buying power to get a great deal when it comes to Escape or Bigfoot.
Daniel A. is offline   Reply With Quote
Old 01-15-2018, 11:37 PM   #16
Senior Member
 
Name: bob
Trailer: Was A-Liner now 13f Scamp
Missouri
Posts: 3,209
I had a friend who at retirement decided he was going to be a day trader, borrowed money on his house I never heard much about it except he isn't a day trader any more!
k0wtz is offline   Reply With Quote
Old 01-15-2018, 11:44 PM   #17
Senior Member
 
Glenn Baglo's Avatar
 
Trailer: Escape 17 ft
Posts: 8,317
Quote:
Originally Posted by k0wtz View Post
I had a friend who at retirement decided he was going to be a day trader, borrowed money on his house I never heard much about it except he isn't a day trader any more!
Night security at a 7-11 ?
__________________
What happens to the hole when the cheese is gone?
- Bertolt Brecht
Glenn Baglo is offline   Reply With Quote
Old 01-16-2018, 09:45 AM   #18
Senior Member
 
Name: bob
Trailer: Was A-Liner now 13f Scamp
Missouri
Posts: 3,209
Daniel both those companies have been in business for a long time if I wanted one of those rigs I wouldn't hesitate for a moment paying up front for one to freeze the price. I can almost be they will be having price increase this year.


bob
k0wtz is offline   Reply With Quote
Old 01-28-2018, 10:07 PM   #19
Senior Member
 
Name: Francois
Trailer: Bigfoot
British Columbia
Posts: 1,163
Registry
not worth worrying about....

the current exchange rate is pretty well "middle of the road" if you look back 40 years....you could have been a "star" if you had bought in 2001....or "cried in your beer" if you had pulled the trigger in 2011....

right now it's average.....while the trend for the US dollar is predicted to keep falling compared to world currencies in the near to medium term, the CAD will probably sink at the same rate....so the USD/CAD rate should probably stay within the long term average...for a while...
Attached Thumbnails
middle.jpg  
Franswa is offline   Reply With Quote
Old 02-02-2018, 09:28 AM   #20
Junior Member
 
Name: Charles
Trailer: Casita Spirit Deluxe 17
Texas
Posts: 5
I don't worry about it too much. I'm a buy and hold investor, and don't think an amateur like us can predict interest rates, conversion rate between USD and CND, price of oil, etc. A year ago a lot of experts said the stock market was going to tank, but it didn't. I don't think anyone really knows what the exchange rate will be, so I don't worry about it, and certainly don't try to time it.

If you just have enough $'s to pay for your future trailer, yes you should probably hedge your bets and pay for it now. That way, you can still buy your trailer if the exchange rate goes against you.

If you have a well diversified portfolio in your retirement account for example, I don't think you need to do anything. If the USD falls relative to the CND, something in your retirement account will probably benefit, maybe more than your loss on the increase cost of your new Escape trailer. If the USD improves and you get a better deal on your new Escape, you will probably take a negative hit on your retirement account.

An example of this effect is an investment in Exxon. Say you own Exxon and the price of oil goes up? Now you have to pay more at the pump, but maybe you made a lot more $'s on your Exxon investment, so you don't really care, heads I win, tails you lose effect. Cheers
CharlesPou is offline   Reply With Quote
Reply

Tags
bigfoot, escape


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
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


Similar Threads
Thread Thread Starter Forum Replies Last Post
IL | Escapes Galore This Weekend Paul Braun Rallies, Get-togethers, Molded Meets (Archive) 4 09-23-2015 07:50 AM
Escapes to New York David and Nancy General Chat 16 06-18-2014 07:28 AM
3 escapes in BC Canada Ken C Referrals: Molded Fiberglass Trailers 1 12-12-2010 01:48 PM
Pictures and Videos of Escapes & Escape factory Kevin KC General Chat 20 09-20-2009 01:51 PM
Bigfoots, and this & that.... Lizbeth General Chat 17 03-27-2006 07:16 AM

» Upcoming Events
No events scheduled in
the next 465 days.
» Featured Campgrounds

Reviews provided by


All times are GMT -6. The time now is 08:53 PM.


Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2024, vBulletin Solutions Inc.