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03-14-2016, 03:23 PM
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#201 | | Fanboy
Join Date: May 2006 Location: Surrey
Posts: 3,596
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Damn, a lot of you guys sold your cars to US buyers.
I sold my Z to a US buyer 2 years ago.
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03-14-2016, 03:32 PM
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#202 | | RS Veteran
Join Date: Nov 2001 Location: An Island
Posts: 14,400
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The fee that my bank charges is about 2.5% to convert USD to CAD (often called the spread.) For example, lets say my buyer owes me $60,500 CAD which is $45,596.72 USD at the moment. If I accept a draft / cashier cheque for $45,596.72 USD and take it to my bank to be converted to CAD they will give me the daily rate which is at least 2.5% lower than the actual rate of exchange.
Now if you put your USD in a USD account and can wait until the CAD falls, you will win and could cover the spread and then some. Understanding The Spread in Retail Currency Exchange Rates | Investopedia
Edit: Just noticed Westopher posted above and note that banks sell for a fee. (In my case 2.5%)
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03-14-2016, 04:36 PM
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#203 | | I Will not Admit my Addiction to RS
Join Date: Aug 2009 Location: WEST VAN
Posts: 521
Thanked 704 Times in 136 Posts
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Took me 5 mins to open a US account within my account so i am withholding the US funds till the rate gets better Quote:
Originally Posted by TouringTeg  The fee that my bank charges is about 2.5% to convert USD to CAD (often called the spread.) For example, lets say my buyer owes me $60,500 CAD which is $45,596.72 USD at the moment. If I accept a draft / cashier cheque for $45,596.72 USD and take it to my bank to be converted to CAD they will give me the daily rate which is at least 2.5% lower than the actual rate of exchange.
Now if you put your USD in a USD account and can wait until the CAD falls, you will win and could cover the spread and then some. Understanding The Spread in Retail Currency Exchange Rates | Investopedia
Edit: Just noticed Westopher posted above and note that banks sell for a fee. (In my case 2.5%) | | |
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03-14-2016, 04:50 PM
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#204 | | Willing to sell a family member for a few minutes on RS
Join Date: Apr 2011 Location: North vancouver
Posts: 13,342
Thanked 33,769 Times in 7,982 Posts
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Trump is going to get elected and your USD will only be worth 600 pesos soon.
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98 technoviolet M3/2/5 Quote:
Originally Posted by boostfever Westopher is correct. | Quote:
Originally Posted by fsy82 seems like you got a dick up your ass well..get that checked | Quote:
Originally Posted by punkwax Well.. I’d hate to be the first to say it, but Westopher is correct. | | |
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03-14-2016, 11:53 PM
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#205 | | I keep RS good
Join Date: May 2001 Location: Cosmos
Posts: 28,729
Thanked 5,594 Times in 1,522 Posts
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| Quote:
Originally Posted by TouringTeg The fee that my bank charges is about 2.5% to convert USD to CAD (often called the spread.) For example, lets say my buyer owes me $60,500 CAD which is $45,596.72 USD at the moment. If I accept a draft / cashier cheque for $45,596.72 USD and take it to my bank to be converted to CAD they will give me the daily rate which is at least 2.5% lower than the actual rate of exchange.
Now if you put your USD in a USD account and can wait until the CAD falls, you will win and could cover the spread and then some. Understanding The Spread in Retail Currency Exchange Rates | Investopedia
Edit: Just noticed Westopher posted above and note that banks sell for a fee. (In my case 2.5%) | sounds like an excellent plan...
except for a minor detail... what if cad goes up. lol.
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03-15-2016, 01:41 AM
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#206 | | RS has made me the bitter person i am today!
Join Date: Dec 2002 Location: YVR/TPE
Posts: 4,886
Thanked 2,972 Times in 1,284 Posts
Failed 652 Times in 209 Posts
| Quote:
Originally Posted by TouringTeg The fee that my bank charges is about 2.5% to convert USD to CAD (often called the spread.) For example, lets say my buyer owes me $60,500 CAD which is $45,596.72 USD at the moment. If I accept a draft / cashier cheque for $45,596.72 USD and take it to my bank to be converted to CAD they will give me the daily rate which is at least 2.5% lower than the actual rate of exchange.
Now if you put your USD in a USD account and can wait until the CAD falls, you will win and could cover the spread and then some. Understanding The Spread in Retail Currency Exchange Rates | Investopedia
Edit: Just noticed Westopher posted above and note that banks sell for a fee. (In my case 2.5%) | In case of car selling, I fail to see where the problem is.
If you want CAD at the moment of sell, just ask the buyer to deal with the whole currency exchange problem. They will provide you a certified check, cash... whatever in CAD to satisfy your CAD asking.
If you wanted in USD, then you could use this at your advantage... as they would pay you in USD in whatever rate it costs them to convert (hence a much higher rate given it's indifferent to them. Quote:
Originally Posted by Ulic Qel-Droma sounds like an excellent plan...
except for a minor detail... what if cad goes up. lol. | This is hardly an issue unless he needs CAD right away.
If USD grows, you exchange to CAD and earning all the difference.
If CAD grows, you go and shop in US and problem solved. During the entire decade that CAD was above .85USD, I have yet to see anything that's actually cheaper in Canada. Gas, electronics, grocery... you name it, US had it cheaper this entire time.
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Nothing for now
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03-15-2016, 03:44 AM
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#207 | | I WANT MY 10 YEARS BACK FROM RS.net!
Join Date: May 2005
Posts: 20,412
Thanked 7,481 Times in 1,449 Posts
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Originally Posted by Ulic Qel-Droma sounds like an excellent plan...
except for a minor detail... what if cad goes up. lol. |  | |
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03-15-2016, 03:47 AM
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#208 | | I contribute to threads in the offtopic forum
Join Date: Apr 2007 Location: AB
Posts: 2,777
Thanked 234 Times in 96 Posts
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or u can just open a forex account and trade
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03-15-2016, 08:20 AM
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#209 | | I Will not Admit my Addiction to RS
Join Date: Aug 2009 Location: WEST VAN
Posts: 521
Thanked 704 Times in 136 Posts
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USD rebounded up a bit this morning, Hope this is the trend
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| | | This post FAILED by: | AzNightmare, blkgsr, boostfever, Eatman, Jassanova, knight604, nsmb, Slifer, Vansterdam, v_tec, westopher | |
03-15-2016, 11:09 AM
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#210 | | ...in the world.
Join Date: Oct 2001 Location: Richmond
Posts: 28,466
Thanked 7,636 Times in 2,321 Posts
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Actually the trend looks like it's been steadily going down since the peak in January. It's been going up and down for awhile now but each one of the peaks is getting progressively lower. It should probably stabilize in the 1.30 range for awhile.
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03-15-2016, 02:11 PM
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#211 | | RS Veteran
Join Date: Nov 2001 Location: An Island
Posts: 14,400
Thanked 5,024 Times in 1,083 Posts
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Originally Posted by Ulic Qel-Droma sounds like an excellent plan...
except for a minor detail... what if cad goes up. lol. | haha
Yes if CAD goes up more than 2.5% I would make money.
I am more risk averse at the moment rather than trying to make money on the dollar. This was a substantial sale not a $10,000 car. I am simply trying to avoid the 2.5% fee ($60,500 x .025 = approx $1512.50 CAD) which my buyer just paid today at Wells Fargo. He purchased a CAD draft for the balance so I don't have to worry about the dollar fluctuating or paying the fee when I convert.
The money is marked for CAD purchases / investments so I don't have a reason for wanting USD right now unless I was bullish on the CAD going up.
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03-15-2016, 04:34 PM
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#212 | | private modder
Join Date: Feb 2002 Location: North Shore
Posts: 6,943
Thanked 2,977 Times in 833 Posts
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Charlie's Currency Exchange on Granville I find has the best rates, VCBC has the 2nd best.
Outside of USD, the thing to keep in mind with Charlie's is he doesn't always have all currencies in stock so best thing is to call ahead first if you need something less popular. He also sometimes doesn't have all denominations of every currency, so you might not get the precise amount you are looking for. VCBE on the other hand carries pretty much everything.
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03-17-2016, 01:12 AM
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#213 | | I WANT MY 10 YEARS BACK FROM RS.net!
Join Date: May 2005
Posts: 20,412
Thanked 7,481 Times in 1,449 Posts
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1.2999999999999999999  | |
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03-17-2016, 07:24 AM
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#214 | | Fathered more RS members than anybody else. Who's your daddy?
Join Date: Aug 2002
Posts: 25,125
Thanked 11,778 Times in 5,048 Posts
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woo hoo........... just in time for my road trip.
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"there but for the grace of god go I"
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Youth is, indeed, wasted on the young.
| YODO = You Only Die Once.
Dirty look from MG1 can melt steel beams.
"There must be dissonance before resolution - MG1" a musical reference.
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03-17-2016, 01:30 PM
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#215 | | Proud to be called a RS Regular!
Join Date: Feb 2016
Posts: 121
Thanked 64 Times in 20 Posts
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1.298
Think it will get down to 1.2 by summer?
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03-17-2016, 02:49 PM
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#216 | | Fathered more RS members than anybody else. Who's your daddy?
Join Date: Aug 2002
Posts: 25,125
Thanked 11,778 Times in 5,048 Posts
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If it hits parity, not a parody, I'll be converting my grandchildren's inheritance to USD in a heartbeat, lol. Since none of that is gonna happen anytime soon....................
__________________ Quote: |
"there but for the grace of god go I"
| Quote: |
Youth is, indeed, wasted on the young.
| YODO = You Only Die Once.
Dirty look from MG1 can melt steel beams.
"There must be dissonance before resolution - MG1" a musical reference.
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03-17-2016, 03:22 PM
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#217 |
Join Date: Apr 2006 Location: Burnaby
Posts: 3,935
Thanked 3,779 Times in 1,005 Posts
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Originally Posted by MG1 If it hits parity, not a parody, I'll be converting my grandchildren's inheritance to USD in a heartbeat, lol. Since none of that is gonna happen anytime soon.................... | I always thought this
but when its 1:1 its hard to buy in, and when its 1:1.45 its hard to sell.
__________________ Quote:
Originally Posted by jasonturbo Too bad it isn't about flipping cars to lose money, I'm really good at that. | Quote:
Originally Posted by SkunkWorks This wouldn't happen if you didn't drive a peasant car like an Audi... | Quote:
[14-05, 14:59] FastAnna You tiny bra wearing, gigantic son of a bitch
[15-05, 10:35] FastAnna Yeah I was dreaming of those big titties in that tiny bra
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Originally Posted by westopher I'd probably blow someone for that 911 | | |
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03-18-2016, 01:59 AM
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#218 | | I *heart* Revscene.net very Muchie
Join Date: Nov 2004 Location: vancouver
Posts: 3,734
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while this is good...fuck you canadian dollar why didn't you do this 6 months ago when i was in central and south america paying out my ass in USD alot of the time
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03-18-2016, 09:46 AM
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#219 | | I don't get it
Join Date: Feb 2016 Location: Richmond
Posts: 402
Thanked 66 Times in 44 Posts
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Dollar at a very good low today.
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03-18-2016, 09:58 AM
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#220 |
Join Date: Apr 2006 Location: Burnaby
Posts: 3,935
Thanked 3,779 Times in 1,005 Posts
Failed 267 Times in 76 Posts
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???
it was better yesterday
__________________ Quote:
Originally Posted by jasonturbo Too bad it isn't about flipping cars to lose money, I'm really good at that. | Quote:
Originally Posted by SkunkWorks This wouldn't happen if you didn't drive a peasant car like an Audi... | Quote:
[14-05, 14:59] FastAnna You tiny bra wearing, gigantic son of a bitch
[15-05, 10:35] FastAnna Yeah I was dreaming of those big titties in that tiny bra
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Originally Posted by westopher I'd probably blow someone for that 911 | | |
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03-18-2016, 11:35 AM
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#221 | | .
Join Date: Nov 2009
Posts: 8,733
Thanked 5,474 Times in 2,095 Posts
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Originally Posted by pb.kidz USD rebounded up a bit this morning, Hope this is the trend | LOL damn rs with no chill  | |
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03-18-2016, 11:41 AM
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#222 | | RS.net, where our google ads make absolutely no sense!
Join Date: Mar 2010 Location: vancouver
Posts: 914
Thanked 317 Times in 173 Posts
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Originally Posted by blkgsr while this is good...fuck you canadian dollar why didn't you do this 6 months ago when i was in central and south america paying out my ass in USD alot of the time | I feel ya... was in Asia and converted CAD to HKD (pegged to USD) at the worst rates. USD:CAD was like 1.38-1.41 at the time.
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2013-2014 - '99 Miata
2014-2015 - '07 S2000
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03-23-2016, 04:44 PM
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#223 | | Banned (ABWS)?
Join Date: Oct 2004 Location: Vancouver
Posts: 19,378
Thanked 4,079 Times in 1,745 Posts
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wtf, bought something a few weeks ago at 1.32.
Then it dips down to 1.30 and stays there for a week, just to tease me.
I was planning to buy something today, but woke up to see the exchange rate spiked up to 1.32 again.
Just my luck  | |
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03-24-2016, 02:06 PM
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#224 | | Proud to be called a RS Regular!
Join Date: Feb 2016
Posts: 121
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^ what were you buying? The difference is only $2 bucks for a $100 purchase.
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03-24-2016, 11:03 PM
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#225 | | Banned (ABWS)?
Join Date: Oct 2004 Location: Vancouver
Posts: 19,378
Thanked 4,079 Times in 1,745 Posts
Failed 434 Times in 211 Posts
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Originally Posted by SFU_wmc ^ what were you buying? The difference is only $2 bucks for a $100 purchase. | mods for the car... lol
It's really more of the bad luck, cause it was stable at around 1.3 for a good week. And I literally was going to make my purchase the morning it spiked up.
Yeah, in the end, probably less than $20 diff.
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