I jumped in with both feet. Paid cash. No bank involved. No monthly payments. I wanted it so I bought it. Same way with my vehicles. No banks involved. Knowing what you want and like and will actually use is the most important factor here. For this reason I dont own a pontoon boat. I can rent one twice a year and be happy. Even if my RV sits here at home I can rest easy because "It aint eatin' nuthin'". It can sit until I am ready to use it. A monthly payment is a burden I refuse to ever get involved in again. Home utilities and buying food are all I have left to deal with except for auto insurance. I encourage everyone to get free from debt. God did not want us to be burdened by debt. Debt is sin.
This is the reason we bought a travel trailer and not a motorhome. It can sit until I'm ready to use it. Sure I pay insurance on it and I maintain it myself, but the cost is way less than it would be if it was a motorized vehicle.
Years ago, a funeral director I knew told me that if I wanted to buy an RV, the best option was to go to Arizona in March and buy an RV used that the widow didn't want to drive all the way home.
@@terrimansfield6212 because all the widows are ready to head back north but don't want to drive the big RV. An abundance of RVs for sale yields a lower price for the buyer.
Talk to anyone who built a custom chopper motorcycle in the late ‘90s to early 2000’s. You will feel better about your RV. You hit the nail on the head with emotional purchases.
I had the advantage of timing where we sold our RV in the Spring of 2022. We got more than we paid for it and used the "profit" from the sale to pay off our oldest son's braces. it was two years old at the time.
It will only be a blood bath if the unit sells at the blood bath price. But the payment bleeding goes on and on. Remember, a lot of these RV’s bought recently have been financed over a 15-20 year term in order to keep the payments down. There is no way out of the noose, because the longer he hangs on to the RV, the lower the value becomes.
In 17 I bought an new 18 sticker $85k paid $61k out the door. Now insurance says its worth $30k but a new one is $120-$145k! Basically double what i paid.
There is a lot more going on in this economy (what's left of it) than meets the eyes of most people. Buying a new RV is like buying a new car (bad deal) depreciation, poor quality and dealers and manufactures not backing their warranties etc. I own two RV. I converted the old 77 executive into a nifty rolling workshop, put on a new metal roof and with 100 gallons of fuel and two 4000 watts on board generators I can power almost anything from garage to barn to house essentials. The other was a 96 Challenger 5th wheel due for a good remodel but it had really good bones and I got it cheap. a great place to keep Grampa nearby. In short as you have pointed out about value. It is only what good a thing is to you that gives you value and why sell something you really use a lot. If you really do not use it than you do not need it. A lot of people are about to find themselves under water in houses, cars, RVs and prices will plummet everywhere! This could easily become the great depression of the 21st century. In reality they may soon actually be nearly giving newer RV's away after the repo man recovers them and the bank can't dispose of them .
I've got a whole $4K tied up in a 2006 Artic Fox 25R. Needs new batteries, could use a new water pump, everything else is clean, functional, and paid for. Trading it for even $500/mo payments on a newer rig would be silly. ❤The quality of build and gorgeous woodwork makes me happy every time i use it. Currently, it's at the MIL's place between trips, giving us a private place to stay visiting on weekends. The only reasonable move I can see is upgrading my truck to pull it a little easier and enjoying what I've got.
I put my rv up for sale this past summer and realized I had a higher price in mind than what's realistic. I decided to hold off for another season and appreciate hearing your take on the rv market. It's a bit disconcerting considering it was such a hot market for the past few years and has slowed considerably. Also, I am doing all I can to maintain and keep mine in good shape since I live in it and want it to be in good shape when i go to sell in the future.
I knew this was going to happen.....worse than usual. The last few years people went crazy buying RV's and really high prices. I knew several would wind up ---- upside down. And to top it off there were lots of new buyers who do not know how to maintain them. So there are going to be a lot of over-priced, unmaintained, RV's for sale. Manufacturers were wheeling these things out the door (quickly) and lots of buyers not knowing what the heck they were buying. Buyers in the used market really need to be very careful purchasing an RV in the next year or so in my opinion. We got took in 2022 by a used RV dealer. Luckily we were in the position and skill set to fix the water damage that they hid from us, despite getting a inspection, and trying to do our "homework". We paid cash and paid cash for all of our repairs. I believe that is the only way to go. Going in dept for something that depreciates as fast as RV's do is ..... not the best choice. But we have a 2005 Sunline that we dearly love and now know it is solid and repairs are properly done. Anyways.....I always appreciate your honest opinions on topics related to RV's. Keep up the good work !!!!
I went from backpacking the Sierras with my wife to eventually car camping. Easier as we aged, lots of camping solutions, maybe $250 invested. Then a travel trailer, then another, each maybe X100 more $. Oh, and a truck to pull them, then another when the 1st wore out. Then relatives and friends went crazy, $250-$500K on Class A coaches. Payments, storage, insane maintenance, RV parks, fuel, depreciation, etc. make this route way more than $2,000 a night unless you're parked somewhere for a stay. What a f'n money hole. Dumped it all (and them for the most part), heading up to our favorite lake next month in wine country, carrying our original $250 of gear.
We just purchased a lightly used one model year old RV from a dealer. They asked a fair price and that was it. Sold our 33 year old well kept StarCraft pop up always garaged for $400 to a neighbors son with three young daughters. Pass it forward people! By the way, what car do you have?
Best way to “get a good deal” on an RV is: 1) Know what you’re buying and have it checked out. 2) Pay cash. 3) Do regular maintenance. 4) Hold onto it for 10 years or better and make many memories doing lots of great camping trips.
DO NOT PAY CASH ! you will not get a good deal if you flaunt cash . The dealer makes most of their money from bank finance kickback and they will give you a better deal if you finance . Now when you get your first payment then pay it off with that cash you will make out like a bandit ! DO NOT tell the dealer you have cash , EVER
@@scottroesslein3642 You are right, dealerships make money on you financing, however, the correct way to purchase an RV or Car/Truck is to let them think you are financing from them, and settle on a number getting the deal sheet written out, then let them know that you’ll be financing with your bank or credit union or paying cash. I’ve done this for many years, and although it pisses them off, it has worked every single time.
@@Rick-tb4so Definitely. Losing money every year is a moot point when it comes to purchasing an RV. It's a recreational vehicle and not an investment, and hopefully most people realize that.
I found it pays to shop around when buying. I was shopping for a particular toyhauler in late 2020. I found three of them, and the difference between the highest and lowest price was $6000. At that time, the dealerI bought from was selling between 30 and 50 new units per week. In late 2020, many first time buyers entered the rv market because of Covid, and have found that the rv lifestyle has limitations and is not for them.
You are 100% right about "attachments". We all overvalue "our" items. I was just looking at an RV, Sept 2023, as you said slow time. I offered $10,000 less than he was asking. NO!!! He was insulted. I explained, ok, so in 8 months after the winter, this RV is 8 months older, you will have paid 8 months storage, 8 months insurance, and something will need to be repaired. He was just too attached to see clearly. Maybe I'll see him in 8 months and offer even less?? Sorry, couldn't help myself. I'm going to buy an RV in next couple months. I'm in the best possible position if you are a buyer. I want a RV don't NEED an RV, big difference. NOT married to any specific model. Want Tiffin, but if a great deal on a Newmar shows itself, I'll marry a Newmar. I was in sales for many years, the worst possible thing for sellers OR buyers is to be "emotional". Buy when you don't need the item, SELL when you don't have to sell the item.
I’ve been looking for a used pop up cabover camper and it amazes me how many people are selling their 1-2 year old(or newer) campers, I sense a lot of buyer’s remorse. It also amazes me how much they are asking and/or how much they are new
This is great advice that no one is going to take. People buy RVs for emotional reasons. They aren't going to suddenly become rational when they realize they are upside down in the loan. Quite frankly, the ability to see value unemotionally is the difference between the wealthy and people who sell their life an hour at a time for cash. The wealthy make mistakes in their investments, but when they do, they cut their losses as soon as possible to recover the liquidity and put it into a winner.
Almost bought a RV due to my friends having them, I feel the bubble is about to burst, not buying one due to campground and fuel prices too high. Concentrating on needs, not wants right now.
Keeping your RV in a barn/ garage will extend it's life by decades. But nobody will get the amount of money the dealer gets. The dealers even manage to get double the price for a used one. That's just what they're good at.
You’re right the weather will kill one and covering one up the there is the weather like putting a covering the temperature will cook it. The seats will crack and other parts will crack and deteriorate. I bought my rv new it happens to car too but be careful.
@@RandyReneau Not to beat a dead horse - but my experience with using a quality cover has been excellent - in the heat keep windows open , vents open and I usually run a dehumidifier for those sticky days - resulting in my roof looks great ( No Leaves. bird crap etc ) , the paint is looks awesome - No cracks anywhere , no buckling etc - Now if you cover with a plain old tarp you deserve to suffer the consequences
What you are saying is so true in April we purchased a 5th wheel from a couple who owed 20K more on it than we bought it for. Like your example they were paying over a thousand a month just to hang on to it and did so for almost 9 months. They had to borrow money from family to make up the short fall to obtain clear title for the sale. It took a ton of trust on both parties as this turned out to be a 3 1/2 week process. We did have an agreement written up professionally but there is still risk. What made this more intresting is the trailer was located 18 hrs away from us and we purchased it without personally seeing it. Pictures and a video walk through was all we had. In speaking with the sellers, their banker and the family member lending them the money we were confident it would work out. They kept us well informed with the process from their end and when they got the clear title they were so excited to be free and have us come and pick it up. It all worked out but couldn't help but feel for them.
Thank God, I’m just a Lookie-Lou. 50 yrs old and wanting an RV for several years now, but the timing hasn’t been right and I’m glad I hadn’t jumped earlier as business is down and expenses are up. Maybe one day, the good Lord willing, the time will come. Love the channel!🇺🇸
I am just as you say very attached to my motorhome Alan and I understand that I won't get what I think I should so I still want to go camping and love my motorhome so I'm going to do just like you and keep it. The newer RVs aren't built as well anyway and mine is only a 2012 with less than 10,000 miles on it and I know I'm going to need tires but still cheaper than a new motorhome.
MSRPs on manufacturer web sites are totally lunacy. The starting pricing of new units on dealer lots is more reasonable, but the out the door prices are even lower. I’m not talking about used prices, but that new lot stock that is languishing out there. As for used… well good luck.
Hello; I don't own a RV but I did own a classic 1968 all wood 28ft Trojan boat for 18 years I loved that boat I took my time and fully restored that boat when people saw the boat it was a blast from the past.But thru the years I tried to sell it and I was told just like you said " your going to need a SPECIAL buyer" I won't go on but it took 10 years to sell the boat, that was virtually brand new, only ONE guy was serious about buying it and it took me 3 years to "let go" and sell it to him for what he offered.On the day I sold it to him, I took the cash turned around and never looked back at my 'pride and joy" and moved on.
Thanks for the truth. We’re hoping to buy a class c eventually. We’re retired and not in a hurry. Hopefully summer 2024. We literally just took a beating and cut our losses on a vintage car. I’m glad we’re watching all the videos we can and your videos have been refreshingly honest. 👍😎
The RV industry reminds me of the Robber Baron era in the late 1800s and early 1900s. The probability of ending up with a poor product and lousy to non-existent service is so great that I no longer consider purchasing one. If a small RV trailer meets your requirements, consider purchasing a solid trailer and use one of many available plans, and build it yourself.
Well put. I was a Gun Dept. Manager and did all the trades. People didn't understand why they couldn't get what they paid for a gun at trade time. If in perfect condition (98-99%condition) usually a common gun, one I had on display and three more just like it in the safe. My formula was (example) new on my rack it was $240, my mark up was 20% so I paid $200 to my Distriributor for it. I would offer $170 for their gun. My mark up would have it back on my rack for $200 There was no way I could pay what they did, why would I? Same way with RV's. Why would a Dealer offer anything close to price paid when they sold it at a discount off MSRP and can get one from the factory for probably 50% off retail MSRP?
My dad always said 'travel light, carry money'. Never saw the draw of traveling in an RV. BUT... As housing gets more expensive, people gotta live somewhere. The only problem is those willing RV buyers don't have big bucks to spend. By definition.
I’ve been looking for 4 months for a Class B, mainly Camper Vans. What Ive witnessed from June to September, in one instance a Seller had 189,000. listed on a 2020 4x4 Mercedes Sprinter w/fancy build out. By August the price dropped 50,000 to 129,000…Still high for a used Camper Van…. Recently, I contacted this owner and now they’re ready for offer $85, 000… half of the original listing.
Seeing RV's, especially travel trailers, marked down up to 40% right now here in Michigan! Something's f'd up, dude. The biggest problem with RV sales is the number of people with 'stupid' money is drying up. To the 20K underwater guy, you should have told him to rent out the unit to get at break-even and then dump the damn thing.
Please play your entire jingle. As your program comes to an end you can play it softly in the background letting everyone know the program is coming to an end. It is a catchy tune. I think everyone would enjoy listening to it.
Sometimes it’s better to cut your losses, than continue to bleed. Great video I sold my class A in 2017 and I’m in the market again but with all the quality issues I just am in a holding pattern.
We just sold our 44 foot cyclone toyhauler that was well maintained and looked as good or better than day we bought it seven yrs ago. We recently retired and the high payment was putting us into not using it and had become to big for us. We did sale it the first day and yea only pocketed 1500.00 over the payoff but got rid of the high payment, insurance, etc. we do plan on buying something smaller for us to take more often and enjoy something that doesn’t consume us. I would have loved to have made a few more thousand but I didn’t want to wait for the MAYBE buyer.
When I owned my boat dealership this was always the case and I had to politely remind people that once they traded it in it was just another old boat that the buyers beat us to death on.
In the market for Class A Diesel Pusher.... Settled for Newell but the price shock (for even 15 years old coach) is keeping me out, I am torn between purchasing a RV, a depreciating liability, for fun or a house that will appreciate as well as produce rental income as a true investment. I would prefer to buy from a private seller vs a dealer, over the past several years the dealers I have visited have always told me how an RV is an investment hence I no longer trust there sales pitch. For now I am tossed between having fun/dreaming or securing a better retirement future/investing. I will wait and see where this goes
I was waiting for the inevitable rv sell off but then we retired and decided to just buy. We got a small tt that is paid off and hopefully will serve us 10 - 15 years. Would have prefered a great used deal but if your good with what you have then over it's life span the original price is not as important.
I recently retired and need to move out of the area I'm in for health reasons and to be closer to my family. I live in Florida where rent prices are insanely high. Been looking to buy a small MH but lot rent fees in most parks are equally as insane. I'm looking around for deals on a good used RV to live in temporarily until things improve. My daughter lives on a 2 acre site and would be happy to have me park it there. So, for me, an RV (in good shape and at a reasonable price) would be a prudent move. I can boondock or hook up to house power and help with the energy bill. When I'm more settled, I can travel in it with the family on short trips.
When I went to the last couple of rv shows a year or more ago and saw the prices inflated like crazy because of Covid I was shocked and frustrated knowing the same last year model rv was now 20 grand higher. I felt it was a rip off at that point. I started setting my sight on smaller ways to camp without the inflated price tag.
Thankful I paid cash for a used one and am enjoying camping. Zero plans to get rid of it. If I did sell it last year, I would have gotten a couple thousand more than I paid for it. But didn’t want to deal with buying another one.
We bout our 5th wheel 21 years old, great shape, although we live in ours, it’s our home for now. The next one might be smaller and a motor home. All depends on a home base
So are RV's prices going to come down or go up? You've said sellers should expect to accept lower prices and buyers shouldn't expect lower prices. Sounds a little like double talk.
I’d feel better knowing that when I have to evacuate my house for a fire creeping up the ridge, I have something to live in. For this reason & b/c I despise making that house payment, I’m RV shopping. Hopefully I’ll be on the road when prices drop in spring if 2024 😊
I was waiting for new tires at the tire shop last month and there was a televised classic car auction playing on their TV so I watched for two hours - I couldn’t believe how low the bids/selling prices were for most of these perfectly restored cars.
I owe 290 a month for my 32 ft rv…..with 3 years left to pay… it’s nice ..it’s on my own land….… I live in it … I don’t care if I sell it … I don’t want to sell it… what could I get to live in for that much money… and have no neighbors ……actually living in one makes you a better person and you don’t get lazy and become a couch potato…
No emotions with regards to my camper. I bought my 2125BH from Camping World and wanted to trade it in 7 months later. I then heard I lost over 30% of the value in 7 months on a 2019! We need more mom n pops because the big corps work for things like Walmart but here? They're bending us over
The truth is it may be worth it...but regardless the value is based on what the top dollar a person will pay....is the value of your RV!!! That is the value of your RV!
I am seriously considering getting a late production restored Winnebago Rialta. A better design than most current class b units, and work is done by a reputable company. Will still be less than most of the other used or new Covid units
the camp grounds are expensive ----gas is high ---worry about break down ----i am back to using the hotels ---small car better mileage -----you get nothing on selling----i keep the rv for an emergency
I’m not normal in many ways. I suggest to everybody to hunker down to save up for what you are buying. If you get a loan, you are paying more than the product is worth. If you don’t owe anyone, you can afford to make some mistakes along the way, or reap the benefits of good luck.
The value of "luxury items" will follow the economy and right now we are on the edge of some bad results of runaway inflation. All the basics have increased in cost in the last 3 years - food , gas , housing / rent , new & used vehicles , insurance , taxes , medical & dental fees. This has caused most people to re-evaluate their " optional spending " and delay or outright cancel their previous plans. Our RV site where we use to camp has doubled in cost in 7 years and now prefer annual contracts. These and other factors have made this activity much to expensive for many which causes many to put their RV's up for sale which causes values to drop and they will continue to fall. That's called reality.
Doesn't matter if it's an RV or Vehicle is you put the minimum down and take the longest loan you are going to be upside down. Put as much down as you can and take the shortest loan you can. It's a lot easier to sell something you own.
The value of a particular item is determined by what someone else is willing to PAY for said item or service. Rarely does a buyer come along and thinks you're asking too little. 😏
Love your advice and delivery. And yes, i could also see these times coming even back when it was hard for factories to keep up with production demands. The high interest rates only add to the pain sellers r about to b in. We travel over 3 months a year in the shoulder seasons. We waited to spend big $$ for our class A until we were able to take the down time. We used to cruise and would spend $30k+ some years (not hard to do!). Rationally the class A depreciation equates with the cost of cruising but at least we can relax more and take along our best friend pets. My only advice to u Alan is the same comment i have to any u tuber: limit your downloads to about 7 or 8 mins. Structure them as u would a good business meeting: short and to the point
Price on any item is driven by supply and demand. RVs are no different. With the influx of buying the last few years it's inevitable that there will be an increase in selling coming. So yes, there will be a significant decrease in prices for used and new RVs.
just like the auto industry, RV industry will be going down the tube...many bought during the covid episode and now stuck with the payments for 15-20 years...and gas is already $5.00 a gallon...
We are coming into the slow sales season while 4, 8, 13 week T-bills are paying over 5% interest. Why pay $10-15k cash for a used RV now, when you can make more cash risk free for the next 8-12 months and have even more money to buy a used RV next spring? Good luck to all the sellers out there, smart people are hoarding cash or making risk free investments to build cash instead of buying depreciating junk. BTW, I am in the market for a used fifth wheel with 2 BR/1.5BA, but am willing to take the risk of waiting and banking cash in a high interest rate environment....
Anyone financing an RV now is making a huge mistake. The financial terms and interest rates are going to make people pay 2 to 3 the purchase price if they don’t pay it off early. Its at the point people are so underwater with financing their tv that the wise move is to in fact take a hit as opposed to paying the loan to the end of the term.
