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Old 10-09-2021, 11:59 AM   #29
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Originally Posted by WolfCoach View Post
Well, at present, sure.

But in 6 months, especially if I'm making $2800 monthly, I can definitely lease a $12,000 trailer.
From whom do you intend to “lease” this trailer?

Do you understand the difference between a lease/rental agreement and a bank loan to purchase a home or vehicle? You’re mixing terms, as you’ve done in previous posts, and it appears you have little understanding of any of them.

I suspect that your $150/mo trailer “rental” is actually a $150/mo loan payment. That isn’t “renting”. You’re in a world of hurt if you don’t understand these basic concepts. You’ve had a number of knowledgeable and successful people offer you sage advice, on this thread and others. It may be some of the best advice you’ve ever heard in your entire life. Unfortunately, it appears to have been a waste of our time.
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Old 10-09-2021, 01:43 PM   #30
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Originally Posted by arcaguy View Post
What he said, from another retired banker. You simply don't make enough money to afford an RV that is new enough to be financed. At best you are probably looking at a coach that is 20+ years old and will need work. You also have to have another vehicle to get back an forth to work. That's insurance and upkeep on two vehicles both of which will eventually need repairs, probably quicker than you think. While I will commend you on thinking outside the box I don't think that you are in a position to purchase an RV at the current time or even when you start making $2,800 per month because some of that is going for taxes. Good luck.
I appreciate his credibility.

Well, a travel trailer would have significantly less maintenance costs than a class A, wouldn't it?
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Old 10-09-2021, 01:50 PM   #31
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Originally Posted by Kid Gloves View Post
From whom do you intend to “lease” this trailer?

Do you understand the difference between a lease/rental agreement and a bank loan to purchase a home or vehicle? You’re mixing terms, as you’ve done in previous posts, and it appears you have little understanding of any of them.

I suspect that your $150/mo trailer “rental” is actually a $150/mo loan payment. That isn’t “renting”. You’re in a world of hurt if you don’t understand these basic concepts. You’ve had a number of knowledgeable and successful people offer you sage advice, on this thread and others. It may be some of the best advice you’ve ever heard in your entire life. Unfortunately, it appears to have been a waste of our time.
A lease is defined as "a contract by which one party conveys land, property, services, etc. to another for a specified time, usually in return for a periodic payment" isn't it?

A loan is "an amount of money loaned at interest by a bank to a borrower, usually on collateral security, for a certain period of time."

Both approaches include monthly payments, and incidental payments.

I've carefully considered this community's advice, and I'm thankful for it. I understand I still have a lot more research to do before I could consider a motorhome or travel trailer.
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Old 10-09-2021, 03:48 PM   #32
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Originally Posted by WolfCoach View Post
A lease is defined as "a contract by which one party conveys land, property, services, etc. to another for a specified time, usually in return for a periodic payment" isn't it?

A loan is "an amount of money loaned at interest by a bank to a borrower, usually on collateral security, for a certain period of time."

Both approaches include monthly payments, and incidental payments.

I've carefully considered this community's advice, and I'm thankful for it. I understand I still have a lot more research to do before I could consider a motorhome or travel trailer.
Very good. Both involve periodic payments, typically monthly. Now, can you identify any differences between the two?

Doing more research is just banging your head against the wall. You need a higher level of income for a period of at least 2 years. And $2800/mo probably isn’t sufficient for you to secure any sort of conventional financing for the purchase of an RV.

This information, and much more, has been provided to you, repeatedly, by dozens of people, on at least 2 threads, for several months. We’re trying to give you a free lesson, but you seem determined to pay for it.
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Old 10-09-2021, 04:16 PM   #33
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Have you watched the YouTube channel “Nomatic Fanatic” yet? Consider it the “bible” for trying to live in an RV while going to college. Go all the way to the beginning of the uploads......over 5 years ago.

Find a campervan. Pay cash. Upgrade with some batteries and solar. Keep it looking very generic so you can “stealth” camp in parking lots and side streets, etc.

You drive it to college for your classes, getting groceries, etc so you don’t have two motorized vehicles to pay for.

Be prepared for heartbreak and some hard times...... Eric (from the channel) paid his dues in the beginning. It worked out for him in the end..... but it took years...... and some luck that his YouTube channel became popular.
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Old 10-09-2021, 04:23 PM   #34
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Great....campervan and 'stealth' camping

In other words....derelict on the streets leaving trash/waste behind
Then abandoning the campervan when it breaks down

There's a reason for Zoning Laws and CGs requiring Registration/Insurance
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Old 10-09-2021, 05:13 PM   #35
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Some free career advice to WolfCoach. Go check out Changing Lanes YouTube episode when Chad goes to RV school. You can make some serious money today as a certified RV Tech. I understand some RV Techs are charging up to $200 per hour.
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Old 10-09-2021, 05:16 PM   #36
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Never allow someone else's fears of what didn't work for them guide your steps. If you think you can do then try. The worse that can happen is you fail and get a lesson on what didn't work.

The life is yours to live so live it. No regrets.
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Old 10-09-2021, 05:26 PM   #37
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Never allow someone else's fears of what didn't work for them guide your steps. If you think you can do then try. The worse that can happen is you fail and get a lesson on what didn't work.

The life is yours to live so live it. No regrets.

Sorry, but to ignore the sage advice of those who have "been there, done that" is NOT good advice.


Said another way, having a fiscally sound plan is a good idea.



No need to fall on your face and go through bankruptcy because you "TRIED".
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Old 10-09-2021, 06:59 PM   #38
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Sorry, but to ignore the sage advice of those who have "been there, done that" is NOT good advice.


Said another way, having a fiscally sound plan is a good idea.



No need to fall on your face and go through bankruptcy because you "TRIED".
We'd be in a sorry state of affairs if those who tried didn't try and decided on the prudent path.
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Old 10-09-2021, 09:55 PM   #39
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Very good. Both involve periodic payments, typically monthly. Now, can you identify any differences between the two?

Doing more research is just banging your head against the wall. You need a higher level of income for a period of at least 2 years. And $2800/mo probably isn’t sufficient for you to secure any sort of conventional financing for the purchase of an RV.

This information, and much more, has been provided to you, repeatedly, by dozens of people, on at least 2 threads, for several months. We’re trying to give you a free lesson, but you seem determined to pay for it.
Yes. With a bank loan, one assumes all ownership responsibility of the equipment, unlike renting. Therefore, I would be responsible for maintenance.

According to a thread I found, maintenance costs for a class A runs about $400 a month, which is steep in addition to the monthly payment. I do understand that taking out a loan on a class A is very unrealistic.

I strongly agree with what other members have told me, that a travel trailer is much more feasible.
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Old 10-09-2021, 10:19 PM   #40
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For one motor home we bought we did the entire load process at the RV dealer in about 15 minutes and we drove out of there with our rig. But we are retired with the required cash flow and credit score of 850.

My strong advise to the OP. Get of picture of what RV you want post on a spot you see every time you move about your house. And save your money like others have advised for a decent down payment. Get a better paying job. Wait for a few years and save, save and save some more. RVs are expensive. They are not anything like a car. My rule of thumb 1/3 of what you'll spend is for the purchase, 1/3 for normal operating costs including all repairs, license, taxes, fuel, camp fees, etc and 1/3 for the upgrades and stuff you'll buy to put in it. They can become a black hole of sorts for your money.
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Old 10-09-2021, 11:04 PM   #41
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Dear Wolfcoach:
I'm going to be something of a contrarian here and say that yes, what I think you want to accomplish certainly can be done, but you may have to adjust the goals and objectives a little. I have never seen any kind of RV for rent or lease anywhere except in a couple of left coast craigslists, and these are always the sort of claptrap litter you see in the news that are the subjects of complaints and towing by the police. Stay away.

It's very difficult to obtain financing for 20+ year old RV's where the RV itself is the collateral. Even then, your loan amount would probably be limited to "book value" which is virtually never market value or sale price, nearly always lower. Scan through the Beavers on rvtrader. No one's getting a loan for $140,000 for a 15-year old motorhome no matter what it is. They're just not eligible for most conventional lending based on their age. However, if you hold anything of value than can be used as collateral for a cash loan to buy with, then go that route. Perhaps saving 4-5k and paying cash for a nice vintage class c would be a better option. It may need work, but get your feet wet that way before jumping headlong into a diesel coach. I'm a huge fan of vintage and "neo-vintage". My Monaco Dynasty will never, ever be cool like an '80's Holiday Rambler class c or an early '70's Winnebago Brave. Also, you may find a disused, older MH that's not necessarily "for sale", but the owner may be willing to part ways with it if the price and terms are right, maybe even take a partial cash payment and the rest on time just to get rid of it. Not sure where you live, but here in Indiana, it seems every farm has an older motorhome parked next to the barn with weeds growing around it. Maybe it's became an eyesore for the owner or their family.
Goals are much easier to reach when you and the goal are both flexible.
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Old 10-09-2021, 11:22 PM   #42
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Luxury items.....RVs, Boats, ATVs, Dirt Bikes, Snowmobiles etc
CASH

Home, reliable vehicle to get you to work
Loan

Simple.....
I totally agree, and never considered one until those priorities. In this new world some are now buying an RV to live out of for work. Traveling nurses for instance and they are contracted in hot demand. Be well, have fun!
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