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Old 06-12-2013, 09:47 PM   #71
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You should think this through before buying. We manage a RV storage business and over the last 16 years we have seen many sad cases of Motor Home owners. Some are stuck with owing much more than its worth and they can not sell it. They don't use it and just sits there wasting away. Be a smart buyer and do your research. Buy popular models that have been taken care of. NADA low retail is a good price point. Newmar, Tiffin, Winnebago, Monaco, are some of the better resale RVs. Do a search for "cost of owner ship". Remember tires every 6 years.
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Old 10-22-2013, 07:28 PM   #72
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My anti-underwater plan

More than depreciation, i think most owners and potential owners are concerned about being under water, with their loan, when it's time to sell. It is in my case, and this is how i see the big picture in steps:

Improve my credit rating (A higher rating get a better interest rate meaning less spent over time), find the motorhome i can't live without, get the lowest possible sale price i can (Equal to or below what others are paying), have it inspected (By the most expereanced mechanics i can afford), find the lowest interest rate for the shortest number of years (that i can afford), buy the RV and then take care of it while i travel the best parts of this country.

Years down the road, as soon as i owe less than the RV's market value, my head will be above water (In my case, about seven years). Yes, the RV will have depreciated (unavoidable), but i will be able to sell it without having to carry a note, for the difference, with my financial institution. At that point i can trade up, keep it or get out of it all together.

The key points i have highlighted for myself are:
Depreciation! It's a fact of life for almost every RV.
Vehicle in question: Must be a very safe, reputable, well built, very well supported, thourouly and meticulosly inspected RV.
Buying price: Must be as low as possible.
Credit score: Must be as high as possible.
Interest rate: Must be as low as possible.
Term of loan: Must be as short as possible, in years, while still being able to support the monthly payment.
On-line loan amortization calculator: A valuable, valuable tool.
Under water: An ugly, ugly term.
Traveling with peace of mind, knowing i have a plan: Priceless

Just my current outlook
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Old 10-23-2013, 07:30 AM   #73
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June 2009 we drove off the lot with our 2008,I turned to the Wife and ask her what it was worth,she said I guess what we just paid.I told her it was worth Zip,0 and that's the only way I could justify the cost and we would prob never get any $ back from it,now if I had to sell I would consider it a bonus and wouldn't have a $ pit any more.Dont get me wrong we injoy using and would rather stay in it and no Motel's and would do it all over again,my wife worked hard as a Nurse 42 year's and deserved what she alway's wanted,and I Love her the wife.
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Old 10-23-2013, 11:26 AM   #74
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June 2009 we drove off the lot with our 2008,I turned to the Wife and ask her what it was worth,she said I guess what we just paid.I told her it was worth Zip,0 and that's the only way I could justify the cost and we would prob never get any $ back from it,now if I had to sell I would consider it a bonus and wouldn't have a $ pit any more.Dont get me wrong we injoy using and would rather stay in it and no Motel's and would do it all over again,my wife worked hard as a Nurse 42 year's and deserved what she alway's wanted,and I Love her the wife.
DITTO

I contend that it better be worth more to you than the dollars you are putting out or why do it. I don't look at interest rate, monthly payment or anything like that. I look at the total amount we spend on the thing per year and ask, "Is that worth it?" When I say NO, its time to go back to a tent--lol Ain't happening!

We all know our rigs will have residual value when the time comes to trade/sell. Think about what we spend on these things. By the time I sell/trade, I will have spent at least 3X the purchase price on this mode of recreation.

The only thing that would bother me about being upside down is the thought that I might "check out" and my heirs would suffer from my financial irresponsibility. We just bought new this year and I think I put enough down to stay above water, but who knows how the market goes?
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Old 10-23-2013, 01:26 PM   #75
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Yes (Depreciation) is a concern if you finance and want to sell or trade in a few years. A large down payment is recommended if you can't do a cash purchase; this will help when selling or trading.
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Old 10-23-2013, 07:18 PM   #76
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If you are worried about depreciation, costs, resale, cost of ownership, etc...you have no reason to buy and own a motorhome. Run Forrest, run.....now, if you are looking at spending some superb quality time with your significant other, and not worried about what it will cost you....RVing can't be beat...

Hhg
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Old 10-23-2013, 07:53 PM   #77
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Whatever!

Might have a point there HHg!

Only the extremely wealthy, who can spend with complete and vulgar disregard towards their expenditures, or the financially inept, who wouldn't know a dime from a dollar, need to even consider buying a motor-coach. How dare they! The rest of us need to follow the age old poor folk process of financial management.

Mr. Buffets "frugality" concept must tie your shorts in a knot.

More caviare Sir?
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Old 10-23-2013, 11:06 PM   #78
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Well...if nothing else Pasture...thanks for introducing me to this beautiful coach. I learn so much on threads I have no interest in!
Good luck with your decision.
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To All...isn't there a big RV dealer site that lists all the RV's they've sold and at what price? I'm sure I've seen it but can't recall it! Link please if you have one!
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Old 10-23-2013, 11:12 PM   #79
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Quote:
Originally Posted by HHg View Post
If you are worried about depreciation, costs, resale, cost of ownership, etc...you have no reason to buy and own a motorhome. Run Forrest, run.....now, if you are looking at spending some superb quality time with your significant other, and not worried about what it will cost you....RVing can't be beat...

Hhg
Exactly!!!
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Old 10-24-2013, 04:56 PM   #80
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11-15 mpg ?
That's sales talk.
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Old 10-24-2013, 05:49 PM   #81
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When we purchased our MH it had depreciated $115,240 or 67% from it's original purchase price. That averaged $11,524/year. This year it's down another $7000 according to NADA which is just about what we have put into it to it to update it. And to think I'm a retired banker???? I had a pretty good idea of what I was getting into and have been frugal my whole life. I also own two boats which have depreciated to the point I won't even look at NADA. I owe my depreciating purchases to the DW who said a few decades ago: "if you don't buy it....your son-in-laws will". Well, I hope they don't mind but we've had more fun in our son-in-laws boats and MH than I ever imagined....depreciation be damned.
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Old 10-30-2013, 09:19 AM   #82
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I think everyone should keep in mind what an item is worth to you when considering depreciation. Very few things are ever worth more after a few years of use than when you bought it, especially luxury items like RVs and boats.
So going in, if you know you plan to keep your RV for 8 years and its going to depreciate 80k in those 8yrs is it worth the payments plus 10k a year to own it? Only the user can answer that as it comes down to a quality of life discussion. Everyone is different.
For me the good times I have in the RV are worth every penny and if I lose my butt when I sell it it was prob still worth it. Won't enjoy losing money but wouldn't give back those times in the RV either.
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Old 10-30-2013, 09:43 AM   #83
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Talking

Quote:
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Looking at buying the perfect RV for our vacation needs-a 2011 Tiffin Allegro Breeze 28BR with 10k miles-wheelbase is 150" so it can go almost anywhere and gets 11-15mpg. Cost--$100k. My concern is that after the kids graduate and we decide to sell in 6-8 years, it could be worth as little as $50k. (will probably put on 7k miles/yr) I am having a hard time financially justifying this big of a loss. I have looked at many RV's, and I know this is the best one for what we want to do. Maybe I should wait another year to find one for $80-$90k? Maybe it won't depreciate this much, but with fuel prices creeping up, this is my guess.
An RV is NOT an investment it is a toy !!

The bump you feel as you drive out of the dealership is not the curb it is the drop in value !! My advice is look for a good older unit and enjoy the road. Look forward to seeing you on the road.
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Old 10-30-2013, 10:05 AM   #84
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Our RV is not a toy...it is our home...most likely for the next ten years. It just so happens that over the next ten years DW and I will see things and meet people all over this country and Canada that would have cost a fortune to see and do via hotels, airfare, rental cars, excursions, etc.

Does the money equation work out...who cares...we're living our dream from 38 years ago when we married
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