Community Forums

historyljc · 05-02-2008, 05:21 PM

I doubt airline tickets, nasty motel/hotel rooms and rental cars are getting any cheaper. All cost of travel, not just motorhomes, is going up. I still have the same reasons for traveling in my motorhome as I did when I bought it. I'll guarantee that the in-transit meals are lot better than what Delta is serving and the bathroom is cleaner with no waiting in the aisle.

hamdave · 05-03-2008, 02:52 PM

I know we plan 'shorter' trips !! I see where at least four mfr's now out of business. This in an industry of 'toys'!!. We are going to see more of a downturn before it gets better. Gas prices is only a part of the problem.JMHO

RoadRohrers · 05-03-2008, 04:06 PM

KInd of nasty responses. Where is the love I expect at irv2.com

jfb · 05-03-2008, 06:04 PM

Nobody addressed The Captain's question regarding "foreclosures on RV/MH's". What would be the finance company's approach to a loan default? Can the finance company sue the defaulter; the unit probably doesn't have a value equal to the outstanding loan balance....

RedneckExpress · 05-03-2008, 09:28 PM

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by RoadRohrers:
KInd of nasty responses. Where is the love I expect at irv2.com </div></BLOCKQUOTE>

Its a touchy subject, alot of folks here own the big motorhomes and the companies that made them are getting the big pinch.

The Captain · 05-04-2008, 01:31 AM

My question was not about rising fuel prices or if you could financially afford your coach. What I was trying to find out is that there are all types of RV's that have been turned in for one reason or another. Where are these units being sold like you see big auctions on homes.
Derek

bowats · 05-04-2008, 02:22 AM

I did not purchase my moho for fuel economy, low payments, or trade in value. Bought it because we love to RV. Have gas prices slowed us down, yes. Will they shut us down, no.

RustyJC · 05-04-2008, 03:55 AM

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by The Captain:
My question was not about rising fuel prices or if you could financially afford your coach. What I was trying to find out is that there are all types of RV's that have been turned in for one reason or another. Where are these units being sold like you see big auctions on homes.
Derek </div></BLOCKQUOTE>
Derek,

I'm past the stage in my life where I finance stuff, so I honestly don't know if the following is the case. I would speculate, however, that one of the main differences resulting in the lower rate of RV foreclosures is that RVs by and large weren't peddled to people that should never have bought them using ARMs (adjustable rate mortgages) with up-front teaser rates like a lot of houses were.

Rusty

Tom N · 05-04-2008, 06:49 AM

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by The Captain:
What I was trying to find out is that there are all types of RV's that have been turned in for one reason or another. Where are these units being sold like you see big auctions on homes.
Derek </div></BLOCKQUOTE>

http://crankyape.com/default.asp

-Tom

jfb · 05-04-2008, 05:44 PM

Hey, Captain, guess no one out there can really address your basic question. I don't know the answer!

paz · 05-05-2008, 03:13 AM

I have always heard that RVers are a pretty conscientious lot and that the foreclosure rate on RVs was generally low. However, with part of the current problems related to fuel prices which directly effect RVers, that may all be changing.

Regarding The Captain's question of where the foreclosed RVs are sold, I don't know for sure, but I suspect many of them would show up at local auto auctions. RVs are considered vehicles, not homes, and it would be logical to sell them where other vehicles are taken for quick sale. I used to work near a very large auto auction and on the occasions when I would drive by, there were usually several RVs in their lot. However, that was several years ago and those RVs were not necessarily foreclosed; but my point is that RVs are being sold at local auto auctions. Also, as Tom N points out with his link, RVs can also be sold at online auctions.

If you're looking to pick up a bargain, you will probably need credentials to show you work for an auto dealer to buy at local auto auctions. At least, that's the case with the one I'm familiar with. If you can make a contact with a dealer, maybe you can get them to bid for you for a small fee.

Jestme13 · 05-05-2008, 09:23 AM

Has anyone given any thought to the possibility that all this gloom and doom reporting is due to an election year? As stated above, RVing is an expensive hobby. An extra buck or so for fuel is not enough to force very many of us out. Me, I will continue to motor on and enjoy.

PS: if your bank should foreclose on your coach, you will be responsable for the balance of your loan after they sell or auction off your coach. This usualy comes with a lien against your home

Stanbnv · 05-05-2008, 07:03 PM

Tom N mentioned Crankyape, but there have been bank repos on them, and their former name, which I think was MRC-auctions, for quite some time.

becks · 05-06-2008, 06:05 AM

Stan....is correct. I live right by one of their auction lots in Minn. Most are repos. I walk thru there lot once a month and I can tell you first hand they are all very beat up inside and out. In four years I have not seen even one that I would consider buying at any price. Not some place I would look when shopping.