Pesos or Dollars (Does it Matter?)

[mariposa]

This is the kind of unfun question I usually ask at Tripadvisor :)..We have a couple big ticket things that require being paid in cash...Like our rental car
and hotel. My husband just asked wether it would be better to pay these
things in dollars or pesos..or does it even matter? Is there any advantage
to paying w/one or the other..?

Thanks!

[beachreader]

Assuming the place you're paying will only give you the standard (meaning non-bank, real-world) 10-1 exchange rate for dollars, it makes much more sense to buy your pesos at a great rate (on the closer-to-11-1 bank/ATM scale) and pay in pesos. For something like a rental car, it could save you enough money for a meal (i.e., 8-10% of the total).

For little things, I use what I have on hand, but if I'm doing a major cash purchase, I definitely would want to use pesos.

[mariposa]

So when we get to the airport in Cancun(tomorrow afternoon!)where's the best place to change money? We have to pay for our rental car right away basically..Should we just use an ATM? Is there one in the airport?

Sorry I'm asking all this at the last second..I had thought we would just pay
w/dollars. But 10% is 10%!

[Gale in KY]

Glad you asked us..those TA responses seem to be more and more geared to the All Inclusive Experience, and that doesn't really apply to a "real" visit to Mexico..like you will have in Tulum. :p

Pesos or Dollars..you can use either, but I always tell people Pesos when they ask. Several reasons. First, courtesy to the locals who will be accepting your money. They work long hours and if you pay them in US Dollars they have to go stand in line at the bank to exchange to pesos. '

The rate of exchange, favors using pesos. If the rate of exchange is 10.75..for example, You get 10.75 pesos to the dollar. So if you see a sign that says 10US or 10 Pesos..you are saving almost a dollar by using pesos..do that enough over the course of your vacation and you have saved enough to leave a nice tip for the people who work so hard at your hotel to ensure you have a nice vacation..tip the guy who rakes the beach..he works really hard and vary rarely gets a tip.

When you make a purchase using US, and get change back, you may find something less than what you expected...at times, they get a bit creative with the rate of exchange and the change you recieve. :D If you pay in pesos, you know exactly how much you are paying and what you will recieve back in change.

If you use US, be sure that the bills are free of any tears or rips..they will not accept them if they have any damage, including deep creases from being folded over. No US coins are accepted.

There is an ATM at the airport you can use...ATM's give pesos, not dollars. lol! Be sure to notify your bank that you will be using your card in Mexico..due to security issues, some banks block cards that are used out of the country unless they know you will be there.

I think there is a money exchange at the airport, but I have never used it.

Who are you renting your vehicle with? It suprizes me that so many people pay for their rental cars upfront..I have always paid for mine when I return it, just like we do here in the US. Be sure they mark "paid in full" on your copy of the rental contract..especially if you are using a credit card to pay for the deductible....you really don't want an suprize charges to your card when you get home.

[mariposa]

We're renting w/Easyway..to tell you the truth now I can't remember if
we're paying up front or if I just assumed that.Anyone know Easyway's policy on that?

Thanks everyone for all the detailed info..you guys are awesome!

[lambert13]

We're renting w/Easyway..to tell you the truth now I can't remember if
we're paying up front or if I just assumed that.Anyone know Easyway's policy on that?

Thanks everyone for all the detailed info..you guys are awesome!

When I used easyway last June the prices they quoted me were in USD. I rented a car from them for a few days in the middle of our trip to go do some exploring. They came to the hotel to drop the car off to me. All I had was Pesos for money at that point. He called back to the office to get the exchange rate, and gave me the price on Pesos. He used the daily exchange rate which was about 10.51 to 1 at that time. I thought is was cool that they did not just use a standard 10 to 1 deal.

We had to pay up front when we took possession of the car. I have heard of others paying when they return the car also. I am not sure what their actual policy is.

[beachreader]

I don't know about Easyway, but I used my credit card at Thrifty. When I find a company large enough to take credit cards without adding a surcharge, I use my card and usually get a good rate in the end. But Easyway might be one of those places that gives a discount for cash.

There is an ATM at the airport, someone said it's right after customs, to the right around a big column that hides it. There's also an exchange booth, but I'll just use the ATM. I think they said this one is a Wells Fargo machine.

If you're driving, and have a Bank of America card, I heard there's a BoA ATM at the new shopping mall on the southbound side (the one with the big Soriana supermarket) south of Playa. Nice to avoid fees if you can. I had to pay a few dollars a time at the Banamex machines.

[LizardLady]

FYI, Bank of America charges a 3% exchange fee for each transaction.

[Gale in KY]

I have used Easyway twice, had good experience both times. They give a 5% discount for cash..which I did the first time..but paid when I returned the car. I still had to have a credit card to secure the reservation for the rental. They made a voucher copy of the card but did not run it thru for the deductible, no hold on the card. When we returned the car, they gave us the voucher back for us to destroy, and we paid the rental in cash.

Second time, I was going to pay in cash, but spent a bit too much in Tulum..hehe..so I just let the rental be billed to my credit card..no problems at all..very easy experience with Easyway. I lost the 5% discount using the card, but they didn't charge me a processing fee either.

Buster was also a good experience. Same ease of using cash or credit card, no hold on the card for the deductible...I would use either of these again, no problemo!:D

[LizardLady]

Did you make reservations with either Easyway or Buster before you arrived? online??

[Gale in KY]

I always make the reservation before I go..except for one spur of the moment rental once I got to tulum. Do you have their website addys?
I think you get a better rate by booking via internet before your trip.

www.easywayrentacar.com
www.busterrentacar.com

[LizardLady]

thank you! I'll be sure to reserve (one of them) ahead of time.

[mariposa]

I actually called them on the phone to make the reservation..mostly because
I had a couple questions and didn't want to wait for e-mail responses. They
were really nice on the phone. Make sure you ask for a AAA discount if you
have it too.It's another 10% discount.

[minniemex]

Just a heads up!

Do not count on the cash machine at the airport - when we were there, the machine was not working - they did send us to the other terminal & that machine worked - just be prepared to have an altournative resource - & the time to use it -