Community Forums

read & learn · 10-04-2008, 02:24 AM

Just wondering which RV Company is going under next and who is now gone?
Had a friend who was quoted 24% for a RV loan from dealer
Travel Supreme
National
Alfa
I know a couple of others were having trouble and did not hear or see anything if they made it or not.

read & learn · 10-04-2008, 02:24 AM

Just wondering which RV Company is going under next and who is now gone?
Had a friend who was quoted 24% for a RV loan from dealer
Travel Supreme
National
Alfa
I know a couple of others were having trouble and did not hear or see anything if they made it or not.

Roam America · 10-04-2008, 04:29 AM

Did a brief stint in an RV dealership earlier this year and 6-7% loans were not unheard of. Interest rates are based on credit score, not the industry.

A lot of the RV manufacturers are having troubles in today's economy. Some worse than others. Most are on a limited work schedule. Unless someone has inside knowledge, who is next (if any are next) is anybody's guess.

doc · 10-04-2008, 05:26 AM

If not gone already, I expect to see the Bluebird/Wanderlodge brand fall. The school/utility bus line will continue (IMHO) but Wanderlodge is out.

porscheracer · 10-04-2008, 06:11 AM

If Fleetwood doesn't get a grip on reality - mostly QC, they will be gone.

Same with Gulf Stream (sadly - because they have some of the most innovative stuff on the market!!).

Gadget Man · 10-04-2008, 06:39 AM

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by porscheracer:
If Fleetwood doesn't get a grip on reality - mostly QC, they will be gone. </div></BLOCKQUOTE>
If Winnebago doesn't get a grip on customer service, they SHOULD go under. My Adventurer was the true definition of a lemon, but good 'ole Winnie refused to acknowledge it.

I have a friend that is a manager at the Fleetwood plant in Riverside. She said that although production has dropped like everyone else, they are still filling orders for new units on a daily basis. FW also has a big hand in the pre-fab housing market, so I don't think they're going anywhere. If they do, maybe we can pay the government to bail them out too...

Craig

LindaH · 10-04-2008, 08:51 AM

If the credit market doesn't loosen up, many RV manufacturers...as well as lots of other businesses...will go under. If people can't get loans to buy a new RV (car, house, whatever), then RV dealers (car dealers, realtors, etc.) can't sell their product. If dealers can't sell their product, they'll go out of business which affects the manufacturers, too. Also, a tight credit market affects the manufacturers directly assuming that they borrow money for the supplies to make their product...no credit, no supplies, no manufacturing.

Route 66 · 10-04-2008, 11:32 AM

Pilgrim just folded.

In the news a few days ago, Fleetwood, Monaco, and Thor were the subject of an article.

All three are having trouble borrowing money to stay afloat, and Fleetwood was delisted from the New York Stock Exchange when their share price fell under $1.

porscheracer · 10-04-2008, 12:10 PM

In the same - or a similar - article, W/I was cited as being in the best survival position, along with I believe Tiffin and Thor. For all the (certainly valid) issues presented here - Winnebago really does have one of the better QC - customer support reputations.

Forest River - and others including Fleetwood are still reeling from the materials issues from Katrina.

The survivors will also include Marathon - whose customers don't generally rely on bank loans. Also - the manufacturer who takes to heart my rant in the what we expect thread would be well advised to structure themselves into a cash economy. Money will be tight for at least 5 years (my prediction).

If I had the $$ to do it - I'm foohardy enough that I would start an RV manufacturing company today. There's the market - but the guys in the plaid sportcoats need to go sell cemetery lots or timeshares (which are probably a bit slow right now, too).

beaverjim · 10-04-2008, 02:53 PM

some people have this opinion that people that purchase coach's such as marathons in some way always pull cash out of their pockets to purchase them! some do, i would guess more than 50% don't. times of leveraging are drying up. not trying to start something, just sitting back and taking it all in. jim

porscheracer · 10-04-2008, 03:12 PM

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by beaverjim:
some people have this opinion that people that purchase coach's such as marathons in some way always pull cash out of their pockets to purchase them! some do, i would guess more than 50% don't. times of leveraging are drying up. not trying to start something, just sitting back and taking it all in. jim </div></BLOCKQUOTE>

I guess I was mistaken / misinformed. Either most people who drop $1M on an RV aren't as finacially savvy as I would have thought, or they're availing themselves of the tax benefits.

Our Vectra is financed - purely because it's our 2nd home and the tax benefit more than offsets the interest. Of course one would hope that someone financing a Prevost chassis would qualify for prime rates.

Gary RVRoamer · 10-04-2008, 04:44 PM

I know at least three people who have purchased new RVs recently and nobody had trouble getting credit. And I'm not talking about millionaires or folks with megadollar jobs (all are retired people. Interest rates were about the same as six months ago too, so the money is there for qualified buyers.

In my opinion the credit market is finally starting to show some common sense, after giving away money to anybody who asked for the last several years.

randco · 10-05-2008, 01:45 AM

There seem to be a lot of folks out there that are caught up in the mortgage crisis. I am in the process of purchasing a Class A. I have been looking at a lot of units, but the sellers have them priced so high and they are not willing to negotiate. The problem is that so many of the people that are trying to sell are upside down in their loans and they can't reduce the selling price to unload the vehicle without having to pay more to make the payoff.

In this market I won't buy a pre-owned for anything more than 85% of the NADA Low Retail.

Glen41 · 10-05-2008, 04:22 PM

I didn't notice it here, but add Teton to your list of closed mfgrs. I'm surprised, because they seemed to be a make to order firm like keystone.
If I had to bet, then I would suppose that the ones that only build when they have a buyer and contract, may survive.
I guess we will see.