Community Forums

Mr_D · 01-20-2015, 09:44 PM

Quote:

Originally Posted by Gordon Dewald

Learning is not free nor should it be.

Don't forget: He who dies with the most money is still dead.

I keep looking at newer/new rigs. Wife says we can't afford it, then says why are we holding on to all that money? Maybe we should enjoy it!
I keep saying yes, but she won't even go look even though we could pay cash for pretty much any motorhome but a new Prevost/Newell and still enjoy life.

flaggship1 · 01-20-2015, 09:46 PM

Quote:

Originally Posted by Gordon Dewald

You win - I'm convinced a MH is not for you.

X 500.
A cynic is a man who, when he smells flowers, looks around for a coffin. - H. L. Mencken

Mr_D · 01-20-2015, 09:49 PM

Quote:

Originally Posted by Mike and Cha

Boy isn't that the truth, I guess I want to leave behind my kids something when we die, but sometimes I wonder why I count my pennies when I really don't need too. Not that we're rich or anything but we have invested wisely, saved well, have a great pension, and can live very comfortable. My wife is always telling me to get what I want now because the money won't mean anything once we're dead.....

Yep, that's us too for exactly the same reasons! Several annuities, two retirements and two SS's.
But my wife STILL won't let go of money!!

RodgerS · 01-20-2015, 09:51 PM

Gordon,

Winners never quit and quitters never win.
Vince Lombardi

UFO Pilot · 01-20-2015, 09:56 PM

I have never seen a hearse with luggage on top!

Gordon Dewald · 01-20-2015, 09:59 PM

Quote:

Originally Posted by Mike and Cha

Boy isn't that the truth, I guess I want to leave behind my kids something when we die, but sometimes I wonder why I count my pennies when I really don't need too. Not that we're rich or anything but we have invested wisely, saved well, have a great pension, and can live very comfortable. My wife is always telling me to get what I want now because the money won't mean anything once we're dead.....

Like you say Mike we worked hard for our money, saved, planned well and made some wise decisions. Our plan was always to live as well or better when retired as when we were working.

When working our focus was on family and providing for them. Now it our turn to enjoy the fruits of our labor. Our family has left our nest and are making nests of their own. It is their turn to put their children first and learn the value of saving for the future.

Our plan is to spend most of our money and enjoy what we earned and saved. The kids inheritance will be in property which should leave them very well off.

Currently any money we give them seems to "disappear". Anything given seems to have less "value" than if earned.

The only caveat is that they will be ones picking the old age home we will end up living in.

Mike and Cha · 01-20-2015, 10:01 PM

I guess it's the way we were raised in our generation, to be responsible, pay our bills and always be prepared for the unexpected financially. In our case my wife is great because anything I want to buy she always says "just buy it we have the money"...I'm the problem, because I will window shop until I get the price I want and even then I agonize over spending the money, even though like you we can pretty much buy whatever we want(within reason). The funny thing is with the MH and the considerable expense it was I did not have one minute of buyers remorse, or agonize over spending the money...even though we bought new...because for once we were investing in ourselves.

Gordon Dewald · 01-20-2015, 10:07 PM

Good on you and Charlotte Mike. We are on the same page.

I am going to leave this thread as it is going no where. OP is lamenting the MH he wants to buy is in short supply and fights any suggestion that may help him. Perhaps if he works long enough in a dealership something will come along. I hope that it does while he is still able to enjoy it.

Mike and Cha · 01-20-2015, 10:15 PM

Quote:

Originally Posted by Gordon Dewald

Like you say Mike we worked hard for our money, saved, planned well and made some wise decisions. Our plan was always to live as well or better when retired as when we were working.

When working our focus was on family and providing for them. Now it our turn to enjoy the fruits of our labor. Our family has left our nest and are making nests of their own. It is their turn to put their children first and learn the value of saving for the future.

Our plan is to spend most of our money and enjoy what we earned and saved. The kids inheritance will be in property which should leave them very well off.

Currently any money we give them seems to "disappear". Anything given seems to have less "value" than if earned.

The only caveat is that they will be ones picking the old age home we will end up living in.

X2 Gordon, couldn't have said it any better...sounds like we have the same kids, and that's also where our kids will make out is with the properties they will inherit(they probably don't realize it yet). You made me feel better today, I think I'm going to go out and buy something tomorrow.

Jack1234 · 01-20-2015, 11:22 PM

Quote:

Originally Posted by PeaceOwl

The one thing that fails to be noted during these 'don't buy new' posts is that the resale of a newer RV will be higher than if you are trying to resell an older RV. So don't forget to do the math from the 'new coach' resell down the line. you can't just subtract the total loss of value of buying new, because you will be selling the newer coach for a lot more money than an older coach. Yes, the math wouldn't sound near as frightening to buy new.....

I think the $$$ argument for used vrs new goes something like this.

1) Where I live if I was to purchase and pay $400k for a new coach ......before I could leave the lot I would have to write a another cheque to the government (@12%) for $48k in sales tax.....for a total cost of $448k.

2) If I keep the coach for 5yrs and loose 10% p/yr to depreciation .....my retained equity will be around $200k and my loss to depreciation and tax will be $248K.

3) On the other hand, if I purchase this exact same coach "used" at the 5yr point for 200k +24k tax.....my total cost is $224,000 ......and therefore impossible for me to loose $248k. More likely after 5yrs when the coach is 10yrs old.....I will still have 100k in retained equity.

4) In the final analysis ...the new coach over a 5yr period will have cost me $4000p/mo ($248k)..... while the used coach over the same 5yr period will have cost me 50% less @ $2000p/mo.($120k).

As a result, you are quite correct that you will sell your new coach for more at resale than the cheaper used coach...but your depreciation costs will be 50% higher. This will matter not a whit if you are like most of the folks on this thread and have a generous company pension, massive annuities, a crystal ball for your always successful investments, SS and rental income. If this is the case, you'll just cut a new cheque for $250-$300K ...get another new coach and start all over again.

Mike and Cha · 01-20-2015, 11:39 PM

That theory is a little generic and somewhat flawed. That's all assuming you don't put any money into the used MH for repairs, the cost is really 400k to start(which would mean you are really buying a MH with an msrp of over $600,000) and the depreciation is really at 10% per year. And I don't really think you are going to find a $600,000 MH that is 5 years old for $200,000. That may have occurred during the recession, but now that the economy is recovering those kind of deals are few and far between. And in the end you may have settled for something rather than get what you really wanted. Again no right or wrong, just a preference, and how people chose to spend their hard earned money.

CampDaven · 01-21-2015, 07:31 AM

Quote:

Originally Posted by RodgerS

"I own an 09 Monaco Camelot KFQ."
Post it in the irv2 classifieds.

It took just 2 days for us to decide. We love our Camelot. We paid cash. Saw 3 of them at Quartzsite on Monday. Go!

Jack1234 · 01-21-2015, 08:25 AM

Mike.....

1) At MHSRV in Texas they currently have 20 (2015) Entegra Cornerstones with an MSRP of $625k....they discount these units by around 25% to $469k.

2) MHSRV also have 2 (2103) Cornerstones for $350k

3) The depreciation cost in 24mo. is therefore ($469-$350) = $119k.....$5,000p/mo. At this rate the total depreciation cash burn after 60mo. (5yr) would be $300k......leaving retained equity of $170k.

4) The 5yr depreciation burn won't be quite this bad (I hope!) ...but when you factor in sales taxes & a 10% consignment selling cost....this is pretty much your $600k Motorhome selling 5yrs down the road for 200k.

Don't shoot me...I didn't invent Motorhome depreciation, sales tax and selling costs.😅😅

RodgerS · 01-21-2015, 08:41 AM

I won't go into the specifics of Jacks and Mikes numbers, but my take is that the sweet spot for used dp coaches is around the $75 to $100k range, and more in the 7 to 10 year range in general.

Yes, and some people spend $10 to $40.

Best pre-owed Rvs in Houston is a great source and they do a bit of refresh by adding tires and hardwood floors, etc. to the coaches before sale. They also encourage prospective owners to upgrades colors and change the furniture if they want. I think that is about $10,000 to $15,000 overall, included already in the sales price (floors and tires already done) and maybe a routine overall maintenance.

Generally, the used dp is considered as the better used value, as least before the new F-53 and V10. I still believe that the Ford gas update around 2007 changed the playing field, except for the full-timers, despite a few dp owners comments who don't seem to actually have driven one of the newer gas models when doing the gas vs diesel discussion.

Some of the readers herein, seem to have had a cathartic experience, so it may have been a better thread or worse thread depending on ones perspective.

It seems to be a very human thing that in-groups need to feel a certain comfort level and desire their members to be a good fit. In a tennis group, we like someone who wants to play tennis to show up with a tennis racquet, wearing tennis shoes, and being able to hit the ball across the net with the tennis racquet.

Despite those that fall in love overnight with their wives or rvs, I kind of prefer to follow my own path. I will finish up my RVTech shortly, then go for my specialties. I plan to rent 4 or 5 mhs so my wife can try out the rv experience, and I also plan to go to some locations in the states and internationally and stay for a few months at a time. Really, not much time at the moment to be worth dumping/investing/putting/throwing a lot of money into an rv that will just sit parked in a lot. But who knows, tomorrow is another day.

I feel very happy these days and relaxed---hope all of you do too. Maybe the fact that I have lived overseas, for as much as 2 years at a time in any one location, and have traveled to 25 countries, puts my mind in a different place.