Canadian DVC'ers-need advice

[TreesyB]

I need some advice.

I want to buy resale BCV. But there are no small contracts. So I'm thinking I would buy a relative contract (currently 150 pts) and sell my existing SSR contract. But I can't do that until after the holidays, since I have a NYE reservation. But I found a BCV contract that I'd really like.

So WWYD? If I bid on the BCV contract, if all goes well I would close mid Dec. and then in Jan. I'd sell my SSR contract. But I would hate to lose on exchange (going from US to CN $) What is the best way not to lose on exchange? Would it be better to go on financing on the first purchase until I sold the SSR contract? That way I could just Xfer USD to USD?

Need some financial advice please so I don't have too much USD!

 

[DutchsMommy]

Even though the news is saying the rate is $1.4 almost, it really works out to an even par so I don't really think you would lose much at all in the transaction. You could always leave any extra $$ USD in a US Dollar bank account to cover upcoming dues - that way there would be no xchange difference.

 

[Ham Ham]

Even though the news is saying the rate is $1.4 almost, it really works out to an even par so I don't really think you would lose much at all in the transaction. You could always leave any extra $$ USD in a US Dollar bank account to cover upcoming dues - that way there would be no xchange difference.

I think the rate is $1.04 USD per CDN not $1.40 USD. Although I like you thinking that our dollar will be worth $1.40 US someday.

 

[F4disneyfan]

Keep the SSR contract as it expires after the BCV contract that is my opinion anyhow but then I am not a fan of BCV at all.

 

[surfer_ed]

Don't be pressured by the deadlines, there is always another deal. I would also keep SSR since it is longer. I have no had any issues getting BCV at 7 months...although I have never gone there on peak time.

 

[Questforthemouse]

Don't forget...if you sell your SSR contact there is a 10% withholding tax. As a foreigner when selling your dvc the buyer will withhold 10% of the sale price and submit it to the US gov. You may or may not be eligible to get this refunded. Check with the IRS...

 

[Fellowship9798]

Never mind. Questforthemouse covered what I was going to say.

 

[TreesyB]

Don't forget...if you sell your SSR contact there is a 10% withholding tax. As a foreigner when selling your dvc the buyer will withhold 10% of the sale price and submit it to the US gov. You may or may not be eligible to get this refunded. Check with the IRS...

I didn't know this! Wow! Seems more worth it to wait and add on.

 

[epicureangirl]

It's better than par, but I would have got a better exchange rate had I bought on Friday. Yesterday morning I bought $15,000 US for $14,879.25. I don't close for a couple of weeks on my BCV contract, but this rate is good enough for me!