UK pound weaking against the US dollar - Defender Source
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  #1  
Old January 19th, 2016, 08:32 AM
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UK pound weaking against the US dollar

The UK pound was 1.421 against the dollar just now makes for quite a price drop on some of the more expensive lhd Rovers on ebay UK plus any spare imported.
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  #2  
Old January 19th, 2016, 08:59 AM
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Your spell checker must have come from Ebay.uk
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  #3  
Old January 19th, 2016, 09:11 AM
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Its one thing to see a published rate in the papers, just try charging something on your credit card, or getting English pounds at the bank. You are likely looking at a rate of $1.65 to a pound. Then they charge fees on top.

Cheap and Land Rover are words that just don't go together.
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Old January 19th, 2016, 09:39 AM
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Even using the best transfer rates with a forex company the recent change is only about a grand on a 40-50k deal. In the lower 10-20k it's pretty much nothing.
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Old January 19th, 2016, 09:48 AM
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Quote:
Originally Posted by Rocky View Post
Its one thing to see a published rate in the papers, just try charging something on your credit card, or getting English pounds at the bank. You are likely looking at a rate of $1.65 to a pound. Then they charge fees on top.

Cheap and Land Rover are words that just don't go together.
We obviously watch it here on a daily basis and what you said could not be more true.


We often have people complaining about the prices because they did the math based on what Yahoo! told them the conversion was. Most people don't know the other side of the equations.
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Old January 19th, 2016, 10:44 AM
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Quote:
Originally Posted by Erik@Lucky8 View Post
We obviously watch it here on a daily basis and what you said could not be more true.


We often have people complaining about the prices because they did the math based on what Yahoo! told them the conversion was. Most people don't know the other side of the equations.
Whenever I buy Australian stuff if the market rate is $1USD is $1.35AUD, I will get a rate around $1.30AUD for my $1 USD, Im not sure where the other other 15 cent loss is on your transactions???? Not at Erik, but at Rocky who had the initial quote.


Surely there you lose with fees and such but the rate isnt THAT far off. Paypal is showing me on my account that 1 GBP = 1.47 USD, which is 5 cent off from market rate.
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  #7  
Old January 19th, 2016, 10:50 AM
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Originally Posted by JohnsD90 View Post
Whenever I buy Australian stuff if the market rate is $1USD is $1.35AUD, I will get a rate around $1.30AUD for my $1 USD, Im not sure where the other other 15 cent loss is on your transactions???? Not at Erik, but at Rocky who had the initial quote.


Surely there you lose with fees and such but the rate isnt THAT far off. Paypal is showing me on my account that 1 GBP = 1.47 USD, which is 5 cent off from market rate.


That is ok for small personal orders. When we are bringing in $20k worth of stuff, shipping rates are a factor combined with duties, taxes, clearance fees and final delivery to us. Things add up quickly. That 1.47 quickly turns into 1.6 - 1.65
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Old January 19th, 2016, 10:56 AM
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Quote:
Originally Posted by greenmountainrover View Post
Even using the best transfer rates with a forex company the recent change is only about a grand on a 40-50k deal. In the lower 10-20k it's pretty much nothing.
A month ago the rate was 1.52 Dollars to 1 Pound, today the rate is around 1.42 Dollars to 1 Pound.

Lets say the rate we get is $0.05 above market value, so $1.57 to a pound a month ago and $1.47 to a pound today.

If you bought a 10,000GBP truck 1 month ago, it would have cost you before fees, $15,700USD. If you bought it today, it would be $14,700USD. That is a $1,000 savings, I do not know about anyone else but that is a very good savings to me. Even if you included fees its the same result because the fees apply regardless of exchange rate.
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Old January 19th, 2016, 10:59 AM
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Originally Posted by JohnsD90 View Post
A month ago the rate was 1.52 Dollars to 1 Pound, today the rate is around 1.42 Dollars to 1 Pound.

Lets say the rate we get is $0.05 above market value, so $1.57 to a pound a month ago and $1.47 to a pound today.

If you bought a 10,000GBP truck 1 month ago, it would have cost you before fees, $15,700USD. If you bought it today, it would be $14,700USD. That is a $1,000 savings, I do not know about anyone else but that is a very good savings to me. Even if you included fees its the same result because the fees apply regardless of exchange rate.


Absolutely. It pays for shipping.
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Old January 19th, 2016, 10:59 AM
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Quote:
Originally Posted by Erik@Lucky8 View Post
That is ok for small personal orders. When we are bringing in $20k worth of stuff, shipping rates are a factor combined with duties, taxes, clearance fees and final delivery to us. Things add up quickly. That 1.47 quickly turns into 1.6 - 1.65
Yeah, I know what you mean, and I believe that people just do a quick look at the exchange rate and are like why do they charge $100 more than what England charges, thinking that you just pocket it.
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  #11  
Old January 19th, 2016, 12:02 PM
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My bank quoted me today 1 GBP = $ 1.453

Foreign ACH $ 50.00

I know some UK banks charge a Receiver fee but I can't speak of that with precision, but I recall years ago, they took 25GBP of the receiving amount and the lovely UK seller, wanted me to pay for it
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  #12  
Old January 19th, 2016, 12:14 PM
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Originally Posted by Rugbier View Post
My bank quoted me today 1 GBP = $ 1.453

Foreign ACH $ 50.00

I know some UK banks charge a Receiver fee but I can't speak of that with precision, but I recall years ago, they took 25GBP of the receiving amount and the lovely UK seller, wanted me to pay for it


I thought you usually received for free, and in some cases were willing to even pay for it
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1991 RRC Hunter - 2" OME
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Gone:
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2001 D2
2001 D2 - Lucky8 Project D2 - REDUX
2000 D2 - Trail Project, maybe
1999 P38
1995 RRC LWB


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  #13  
Old January 19th, 2016, 12:16 PM
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Quote:
Originally Posted by Erik@Lucky8 View Post
I thought you usually received for free, and in some cases were willing to even pay for it
Shouldn't you be ACTUALLY WORKING getting Filters for your customers? I mean, my son is already driving, and I am wondering if you will get me the filters before his kids drive ? *LOL*
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  #14  
Old January 19th, 2016, 01:40 PM
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We have been paying close attention to this since we are going all UK this summer. My wife has been planning the whole thing out, and she is strategically buying stuff ahead of time as the price drops with the exchange rate.

My own diabolical plans for finding small, rare Rover parts is still in development phases.

Oh, and since we are using a Brit Airways card, we don't get markups, extra taxes, or old exchange rates. Our bank is also quoting the current rates with minor fees.
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  #15  
Old January 19th, 2016, 02:24 PM
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It's expected to fall to the 1.35 range by end of the year.
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  #16  
Old January 19th, 2016, 02:29 PM
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Originally Posted by RBBailey View Post
We have been paying close attention to this since we are going all UK this summer. My wife has been planning the whole thing out, and she is strategically buying stuff ahead of time as the price drops with the exchange rate. My own diabolical plans for finding small, rare Rover parts is still in development phases. Oh, and since we are using a Brit Airways card, we don't get markups, extra taxes, or old exchange rates. Our bank is also quoting the current rates with minor fees.
Depending on how much shopping you do while on vacation, it may be worthwhile to get your VAT refunded at the airport. It's not too difficult.
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  #17  
Old January 19th, 2016, 02:33 PM
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One other note---many foreign sites allow you to pay in either their local currency or your currency. They also have points on it with the exchange rate. You are always better off buying in their currency and letting the credit card company do the transaction. Assuming, of course, that you know your CC companies rates.

We also have a bank account in England (my wife is dual citizen). I haven't looked into money transfers into the account, but now that I think about it, I am going to check into it. It may also save for larger purchases...
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