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Big money problems from the UK


Thin Lizzy
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So little old England voted on some political stuff last week and now our exchange rate to the dollar has gone to $hit! How are we going to buy those Mustang parts?! The parts, shipping and import duty have sky rocketed. And this is not going away any time soon.

 

CJ's is going to feel the hit and I'm sure other suppliers will too.

Mark

 

 

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With all the knee jerk reactions the 401 retirements in the U.S. went to the basement. I was so lucky I pulled mine to pay for my shop about 4 weeks ago I would have lost $50,000 if I had not done that. More than the shop cost. My luck still holds out.

Just because you choose to not join in with the money loosing remainder of Europe should not affect the world but it does.

When a man is in the woods and talks and no women are there is he still wrong??:P

David

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I feel your pain! I m Canadian. When I restored my two 66 mustangs a couple years ago our dollar was par with the usd. Now that I m knee deep into the 72 restoration I find buying parts to be killer on the pocket book. Basically add 40% exchange on all the prices in the cj catalogue :(

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Mean while the US stock market and dollar is doing very well. I lived in both Calgary and Brisbane when the exchange was above parity. Oil and gas, which was my employ.

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The exchange rate has suffered by around 10% no more

 

If you take a positive outlook it will take 10% longer to buy parts.

 

And when alls said and done its only money at the end of the day.

 

Love ya Mustang and money never comes between you and your Mustang.

 

If we are restoring our Mustangs to sell it on & recoup what we have invested we would never do a restoration because the money we throw at the car and the hours we put in we will never realises the true cost we invest.

 

When the Euro hit 1.45 to £ i bought a lot of Euros. Some unscrupulous sellers are trading 1 to 1 right now. There are Visa/master cards out there that you can load money on to. You can only spend what you load on to them. Just keep your eye on exchange rates and when the £/$ hits that sweet spot you just load the Visa/master card and then it don't matter if the rate drops in the future.

Steve

1971 Grande

 

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Guest Pastel Blue

Very strange...the value of the dollar here in the US seems to be very stable...

 

We will see if that thought holds true in November...

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Very strange...the value of the dollar here in the US seems to be very stable...

 

We will see if that thought holds true in November...

 

Its all relative.

Stocks, shares, Property, £, $, Euro

Its all relative to a select few buying and selling.

Three people have just been found guilty in the U.K of fixing the Libor rate. The rate banks lend to each other. These people made millions off the back of the working class. Stocks and shares get sold and bought in trillions of dollars daily. On the whole prices yoyo up and down and the select few make billions from the sale of stocks and shares. But on the whole the top 100 companies share price rise year on year. Things always have a way of evening out as long as you look at the long game. As you said we will see in November. A new president and the run up with differant poles that predict a winner will affect everything your side of the pond. The whole political system here in the U.K has imploded on itself with leaders either stepping down or refusing to step down even when under immense pressure. I am sure the EU is about to implode. A build-up of NATO troops on the Russian borders sabre rattling. Then those of us outside the U.S get fed a black picture of Donald Trump( I'm not American so don't have opinion of him) through the media. The whole world is in a state of flux and how it plays out is something that time will give us. All those factors and then mother nature boosting crops one place and destroying them somewhere else will inevitabley play a major factor in the confidence in the markets and the yoyo butterfly effect on stocks and shares price level. I do know one thing. My first house cost me £14,500 and worth in todays market around £150,000 plus. So my adult life house prices have moved tenfold for the positive. I Always play the long game

Steve

1971 Grande

 

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"Keep calm and carry on." Things will stabilize at some point. Chuck

About the only thing that you can do is this. It just comes with territory of owning imported cars, you either have to pay it or sell your car unless you put it in storage until times come good again, something I could never consider doing. The dollar has been crap here in Australia for ages and when my vert needs something, I just buy it as there's no use in worrying about how much extra it costs now. Yes of course it sucks, but what can you do about it. I was buying stuff out of the US when our dollar was in the 40's in the late 90's early 2000's and that really hurt, but was still cheaper than buying stuff here. When the dollar got into the 60's, then 70's it was like happy days. Now we're back in the 70 range again here and heaps of people complaining here as well about the dollar, but for those of us that have played this game before, it's just here we go again. I know as I've just spent over a grand in parts and shipping for my vert in the last week buying in from the US (plus what I spent locally) because with our year Mustangs it's a double whammy not just with the dollar, but most of the big Mustang sellers here in Australia sell mainly up to 1970 Mustang parts and anything else is very limited for the 71-73 models. So check with local suppliers first to see what you can buy from them before they sell out of those parts and have to bring in new stock at higher prices. Unless they're rip off guys and have upped the prices because the dollar thing, but that's a different subject again.

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