Community Forums

Oldrtrcr · 12-31-2008, 09:48 AM

THE MIND IS LIKE A PARACHUTE, IT MUST BE OPEN TO WORK.

It also needs to be packed correctly before it can open!

Route 66 · 12-31-2008, 10:07 AM

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Just wondering how the up-scale rv parks are doing. </div></BLOCKQUOTE>

Here at Cypress Woods in Fort Myers there are a lot of empty sites. The regulars tell me occupancy is clearly down this year.

Renipladlo · 12-31-2008, 05:06 PM

All, a friend sent me this article. http://www.registerguard.com/c...5064862-35/story.csp

In this economic climate time are very tough, especially the RV industry as well as the auto indistry here in the US.

One thing to do, if it says made in China, do not purchase it, if it says made in the USA do purchase it, at least we will keep some of us working.

RV Wizard · 12-31-2008, 11:04 PM

I am glad that I spent 5 years research and work in the RV industry before we spent more on our coach than we have on the last two homes we bought. Yes, we financed the coach and are upside down as well but at least the coach has served us very well (6+ years of full time) and we don't want to trade for one that might give us a problem. I do plan to instead upgrade the one we have with new flooring, stove top and micro/convection oven before we one day go back to at least long term traveling again. A few months ago we bought a house and moved out of the motorhome since we will be here for quite some time.
I have no doubt that our industry and lifestyle will survive. I am fortunate to always be in demand even if sales are slow; so is the wife in her position as merchandiser for the store.

RVJeeper · 01-02-2009, 06:36 AM

Back to the message from the OP: I think most of us who financed our RV's are a bit upside down now, but $100,000 is evidence of not planning the loan properly. Let's face it, all RVs depreciate, some faster than others. If your loan doesn't pay down the balance in relationship to what the rig is worth then it's nobody's fault but yours that you're upside down! Either make a bigger down payment or shorten the length of the loan to keep things in balance... or at least as close as you can predict.

OTOH, I'm wondering if now might be a good time to trade up. Yes, your current RV is worth less but discounts on new RVs have never been bigger. Assuming you have the money and can get the loan you just might come out better than ever before!

historyljc · 01-02-2009, 11:24 AM

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">One thing to do, if it says made in China, do not purchase it </div></BLOCKQUOTE>
I can agree with that. So far all of it seems to be junk that doesn't last anyway.

Cat · 01-02-2009, 01:24 PM

So let me get this straight. Everybody that is talking about how bad being it is to be upside down.
And you must have made a bad decision or a bad buy, to be upside down in your motorhome.

So the guys that aren't upside down must have bought their motohomes at 40% to 50% off MSRPs last year or years ago. So they are not upside down.
And I bet when they are done RVing they will sell their motohome and make their all their money back!!
Right
When you buy a motorhome you are upside down or will be soon.
Its only the fun you have, that makes up for the money you are going to lose. So make sure you are having fun.

Route 66 · 01-02-2009, 01:33 PM

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">So the guys that aren't upside down must have bought their motohomes at 40% to 50% off MSRPs last year or years ago. </div></BLOCKQUOTE>

Many paid cash for their rigs or financed a small amount.

They would not be upside down.

Cat · 01-02-2009, 01:47 PM

In the the strictest sense of the term Upside down you are corrct.
But if you paid cash and got a good deal in late 2006 or early 2007. Your rig is still not worth what it was before the economy went to heck.
So you do not owe anyone money but you still lost money when it comes to trading or selling your motorhome now. Went it comes to the bank account you still lost money.

**NLOVNIT** · 01-02-2009, 02:29 PM

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Assuming you have the money and can get the loan you just might come out better than ever before! </div></BLOCKQUOTE>

Not sure about that. With the rate folks are losing their jobs nowadays, paid off sounds better, to me, than a loan on a new rv, no matter how good a buy it might be. JMO.

Lori-

RVJeeper · 01-02-2009, 02:55 PM

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">With the rate folks are losing their jobs nowadays, paid off sounds better, to me, than a loan on a new rv, no matter how good a buy it might be. </div></BLOCKQUOTE>
Guess it depends on where you are in life, Lori. If your job is relatively secure (you're lucky right now!) you're probably better off financing and keeping your principal balance in pace with the depreciation of the RV. Then you can take the money you would have spent to pay for the RV and invest it to make more money. Of course that line of thinking didn't wash in 2008!!! Hopefully better times are ahead.

rjf7g · 01-02-2009, 03:22 PM

I hope everyone has a better 2009 than 2008, regardless of how good 2008 was!

Barbaraok · 01-05-2009, 07:21 AM

Michael,

First, since you have cash in the bank, pay off your current MH now and just put the monthly payment in the bank until you have enough cash to get the next MH. That will effectively give you a MUCH better return that you are currently getting on the money sitting in any bank. And a 2005 isn't exactly OLD - why not enjoy it for awhile longer until the market shakes out.

Barb

hamdave · 01-05-2009, 12:05 PM

OP, one responder said it was a good time if you have the cash for the 'investment' in a motorhome. To me, that is the first problem, even considering one of these things an "investment". they are TOYS and expensive ones at that. I also would wonder why you want to spend $250,000 on another beast cash or otherwise. Did you not know you were going to be upside down ??

I have to say, I can't and will never have enough money to buy a new rig. I saw where one dealer wants to sell a new unit for about $55000(new) for payments of $350/mo for 240 months.

Now a lot of people probably wouldn't think too hard, but that is 20 YEARS!!. If I had to do that I would not buy it anyway.

good luck to you in what you do, but seems to me you are going to be throwing more money away over and above what you have already done.

cheers