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Old 07-31-2013, 07:12 AM   #15
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Our first MH was(is) a secondhand rv, but we did buy both of our 5th wheels new, first one when we traded it in on the next new one we got a great trade in $$ on it, but took it in the butt big time on the second one one as a trade in, lost about $4200. on that unit, We will never buy new again unless we win the lotto of course, ha ha ha! We dod plan on keeping this unit for two years and then trade it in on another used MH, but newer then what we have now. MOHO, we will NEVER Ever Buy New Again!
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Old 07-31-2013, 09:02 AM   #16
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There are many nice RV's listed every day, as well as some that have been ridden hard and put away wet. Of course, everyone would like to get top dollar for their exceptional vehicle. The problem we are seeing as we search for a used class A is that many if not most owners are upside down in their loans. They are trying to get out from under their payments, but if they accept market value, then they will have to come up with $5k, $10k, or more in cash out of their pockets to close the deal. Many seem to take the path of continuing to come up with the somewhat manageable monthly payments instead of the lump sum. In effect, they would have to pay someone thousands of dollars to take their RV away.

Is there a less painful solution to this problem?
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Old 07-31-2013, 09:56 AM   #17
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That is a painful situation that I was once part of. My last motorhome that I sold, I owed $18,000 and the NADA was $15,000. I went to the bank and they allowed me to do a short sale and continue making the payment until the balance of $3,000 was paid off (which didn't take me long). Fortunately, I was not FAR under water as many people are. Those people are likely in a very difficult situation as they will not be able to sell the RV for more than it's worth. They either need to come up with the cash difference, work out a short-sale with the bank, or trade it in and end up even MORE upside down.

When I bought my current motorhome, I searched and found one that was way under NADA low retail. Currently, I feel sure I have quite a bit of equity in this unit, but I watch the NADA and sales closely. Whenever that number starts to "cross over", I'm selling and finding another newer unit.

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There are many nice RV's listed every day, as well as some that have been ridden hard and put away wet. Of course, everyone would like to get top dollar for their exceptional vehicle. The problem we are seeing as we search for a used class A is that many if not most owners are upside down in their loans. They are trying to get out from under their payments, but if they accept market value, then they will have to come up with $5k, $10k, or more in cash out of their pockets to close the deal. Many seem to take the path of continuing to come up with the somewhat manageable monthly payments instead of the lump sum. In effect, they would have to pay someone thousands of dollars to take their RV away.

Is there a less painful solution to this problem?
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Old 08-01-2013, 09:01 AM   #18
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Part of the problem is dealers offering 15 and 20 year loans. Buyers get sucked in by crafty salesmen and the dealer finance hacks with artificial low monthly payments. I would guess many new rigs buyers decide after a five years or less that they really don't care for the RV lifestyle and want to dump their rig only to find out that they are stuck with it. Or get a home equity loan (if they can) to get out from under the burden of the RV loan. Brother in law and SIL went through that a couple of years ago with a job and city change getting stuck with their Jayco TT. Fifteen year loan loaded up with an extended warranty, Good Sam membership, hitch and towing needs for the TV and probably a new kitchen sink thrown in for good measure! They have since moved back home, new jobs again and still have their TT that they use about a dozen nights local a year.
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Old 08-01-2013, 09:33 AM   #19
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Another problem we are seeing in our search for a used DP is that many owners who want to sell privately are distracted by dealers' published asking prices for similar models. This in addition to believing that what they owe is what someone will pay. They are confusing asking price with selling price and believe that the dealers are actually getting what they ask, and therefore they should too.

As people have pointed out, the actual new RV price tends to be 20% to 30% below the imaginary MSRP. Similarly, we looked at an older DP at a dealership, checked NADA, assessed the cost of making it safe and comfortable, and offered one third of the asking price. Our offer was above NADA. The dealer immediately countered with one half of their asking price.
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Old 08-02-2013, 08:48 AM   #20
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Unfortunately the "game" of arriving at a decent selling price keeps a lot of potential RV owners out of the market. It is hard to first come to grips with what these things sell for, whether TT, 5'ers, C's, A's or even pop ups. There needs to be some kind of new standardization of MSRP such as mandated to the auto industry so there is basis for pricing. This would help the used market too.
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Old 08-03-2013, 09:10 AM   #21
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You bring up a good point, Vince. How many new RVers, and potential customers, keep on walking or flip to the next ad when they see a number that is out of their budget?

Would you advertise a cup of coffee at $5 if you were really willing to sell it for $3? How many potential customers would look and ignore you? Sure, you will find the occasional customer who is either very thirsty, or just doesn't know any better, but you will also be wasting a lot of time waiting around for that customer and throwing away a lot of stale coffee. It seems counterintuitive, yet common practice in the RV business.
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Old 08-03-2013, 09:26 AM   #22
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And if you advertise that cup of coffee for $3.00, most potential buyers will think they should only pay $1.50.

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Old 08-03-2013, 09:40 AM   #23
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True, bucking the norm is a challenge. But at least you get a conversation started and an opportunity to negotiate. When I see an ad for double NADA, I simply ignore it and move on.

Just out of curiosity, has anyone successfully negotiated at CarMax?
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Old 08-03-2013, 09:47 AM   #24
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Making offers

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You bring up a good point, Vince. How many new RVers, and potential customers, keep on walking or flip to the next ad when they see a number that is out of their budget?

Would you advertise a cup of coffee at $5 if you were really willing to sell it for $3? How many potential customers would look and ignore you? Sure, you will find the occasional customer who is either very thirsty, or just doesn't know any better, but you will also be wasting a lot of time waiting around for that customer and throwing away a lot of stale coffee. It seems counterintuitive, yet common practice in the RV business.

I think it's the same with any large item you buy, people will make offers. I've bought boats by offering 1/3 off the listed price, houses, cars and almost anything large that I've purchased. Does anyone really just assume the seller is that firm on a price? I think it's the way of life to make an offer. It's so common, I've heard people in stores request a discounted price. I've never done that, since it's certainly not standard procedure.
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Old 08-05-2013, 09:08 AM   #25
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Yes but that $3 cup of coffee will attract a much larger market than the $5 cup. Back in the 80's New Balance came out with the first $100 running shoe, NB990. At the chain of stores I ran we advertised that shoe for $74.99. Couldn't keep the shoe in stock. New Balance complained that I was selling the shoe to low. Raised it to $79.99. Again, ran out of stock quickly. NB still complained. Up to $84.99. Sales slowed but not bad. Company owner complains, raise price to $94.99. Sold about 8 pair after that.
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Old 08-05-2013, 09:56 AM   #26
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Interesting discussion.
First we bought our first one used as we weren't sure of exactly what we really wanted.
Second, DW's sister was in town and they are in the market for a new DP. They'll be upgrading from Gas. We stopped by the local and largest dealership in Detroit and they were offered 15% of MSRP for a Meridan 36M. With the current surge in RV sales, I wonder if the 25% to 30% off MSRP is still alive?
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Old 08-05-2013, 12:32 PM   #27
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Interesting discussion.
First we bought our first one used as we weren't sure of exactly what we really wanted.
Second, DW's sister was in town and they are in the market for a new DP. They'll be upgrading from Gas. We stopped by the local and largest dealership in Detroit and they were offered 15% of MSRP for a Meridan 36M. With the current surge in RV sales, I wonder if the 25% to 30% off MSRP is still alive?

I think it is still alive John, but you really have to shop around. As the saying goes, "you've got to kiss a lot of toads to find a prince."
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Old 08-05-2013, 12:43 PM   #28
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At a recent LaMesa 'RV Show' in Florida the signs on the new higher-end coaches showed the MSRP and an asking price of about 25% less. I did not validate any of these numbers. How much is this influenced by the fact that this is the end of the model year?
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