Should I pay package off with our good exchange rate now?

[phabric]

We plan on going to Disney in Aug 2008 and taking a package.

I was wondering if I should pay the full amount off now instead of just the deposit since our $ is a good exchange rate at this time. Next year when I would have to pay the balance the exchange rate would be higher. I would save about $150 if I paid it off today.

What would you do?

 

[tmli]

If it was me I would probably pay it off as opposed to taking the chance of it being worse. Depending of course on where the money is coming from to pay it off. If it was going to sit on a credit card you would pay more in interest than you would save. If it is an interest earning account you may earn more than you would save.

 

[Davey-D-99]

I put a $1000 down on our upcoming April WDW vacation last Tuesday...
I wish I would have paid it all off instead... I only was charged $942 CDN on my Master Card.
At $1.023 right now if you pay it would be around par on your Credit Card after they take their percentage for exchange.
All the news stories I've been reading say our dollar is only headed lower to settle in just below par for a while.

 

[MainGuy]

I agree, long term forecasts seem to indicate CDN $ will weaken.
Pay as much as you can now.
I am even exchanging my expense money now for our May trip

 

[son3disfan]

Why give Disney your money early?

This has been dicussed many times, but here's what we did:

Open up a US account and deposit your Canadian money( the balance you owe) in there. Even at par, it's a good time to put it away . It will earn even a little bit of interest.
Then , when it's time to pay Disney the balance, ( and the dollar has dropped...most likely) you can pay it off with a US credit card. no transfer fees, and no 2.5% exchange fee, like on a regular credit card.You just withdrawl your US cash to pay the Credit card.
That's what we are doing for our March cruise.

I've bought a ton off Disney on-line already... very easy.

 

[Debbie]

Open up a US account and deposit your Canadian money( the balance you owe) in there. Even at par, it's a good time to put it away . It will earn even a little bit of interest.
Then , when it's time to pay Disney the balance, ( and the dollar has dropped...most likely) you can pay it off with a US credit card. no transfer fees, and no 2.5% exchange fee, like on a regular credit card.You just withdrawl your US cash to pay the Credit card.

That's what I'm doing. I've been transferring $25-50 a pay over. Well, until the dollar went up, then I did a few transfers of $100 or more. (Did DD's December spending money last week. It cost her 285, and she put 300US into my account). It will all even out in the end, I'll have everything paid for, and it isn't hurting!