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maverick_935

rv trailer values.

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While most RVs depreciate more in the first couple of years, much depends on what you paid in the first place and how strong the market continues to be.

If you started out purchasing a new RV and getting it for 28% to 30% below MSRP then you will obviously suffer a little less depreciation that someone who purchased a $80,000 MSRP one for $70,000.

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17 hours ago, FL-JOE said:

While most RVs depreciate more in the first couple of years, much depends on what you paid in the first place and how strong the market continues to be.

If you started out purchasing a new RV and getting it for 28% to 30% below MSRP then you will obviously suffer a little less depreciation that someone who purchased a $80,000 MSRP one for $70,000.

Considering that reports usually show that new units depreciate when driven off the lot, 20-30%, sounds like it might be a wash, value wise.  BUT, then considering the quality of newly made units, both from the assembly/workmanship standpoint and from the components (stove, AC, cabinets, etc) standpoint, might be better to buy used and then remodel to your own taste, but that assumes you get a quality used unit.

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The best thing to do economically is to keep it until the wheels fall off. It costs less to replace the aging appliances and even to replace carpets and draperies than it does to buy a new RV. Trading RVs always loses money. If you take care of all maintenance as needed, make needed repairs, and treat an RV well it can easily serve you for 15 years, 20 years, or even longer. Our last RV we bought new and kept it for 14 years, selling only because we were downsizing. The RV did need tires and some upgrades but if we had been in a position to stay out fulltime, we could have come out money ahead to have spent the money to do so and keep the same RV. Most people trade RVs because they want a newer, or bigger, or nicer RV and not because it has worn out. 

Edited by Kirk Wood

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Kirk is right on.  There is a show on cable that shows people going through the RV buying process.  I have yet to hear ANY of them comment on chassis, drive train, structure, roof, solar, etc.  Instead its all about the decor, the appliances, the colors, the mattress, things like that.  I would prefer to buy used with good BONES and then remodel.  That way we get the colors we prefer, the flooring we want, the appliances that work for us, things like that.  Yep, keep it till the wheels fall off, but hopefully that doesnt happen due to lack of maintenance.

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The TV shows are fun to watch---lots of "WOW!"  and "I love it"  comments--none of the shopping seems to be realistic, just for TV.  And the pricing they get one for vs the list when it was shown is never near the 20-30% I am used to seeing.

We had an '05 Mobile Suites, bought in '07, that we kept til we traded for current '15 Suites.  Paid $45k in '07, got $20k in '17 for the used Suites.  Felt lucky to get the $20k on a 12-year-old unit.  At some point, the depreciation rate slows, but it is a personal decision to keep or trade/sell.  Quality of new ones is continually being shown as poor to ok on new stuff, unless you hit one of the custom lines.

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pull it till the hitch falls apart and you arrive someplace with nothing behind the truck.

resale value, whats that?

think in the line of use value.  aka: have you gotten your moneys worth out of it? a sale is only pure profit. no matter the price.

or lack there of.

i have a small 25 foot sunny brook, i bought it new in 2001 (now 2019), still going strong, plastics are a problem. but most everything else is working good.

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Isnt this sort of like-should I remodel my current house or just buy a new one?

So MANY factors are involved.  And add to that the condition that we are experiencing of poor quality new RVs being delivered that certainly make it more attractive to remodel a used better quality RV, esp when doing it to your specific likings.  No new unit will come off the line as you want it- and even if you do some customizing, it wont be all you want, too much economics involved.

I've chosen to remodel older 5ers.  Not interested in spending so much for a newer unit with someone elses ideas of what they THINK I want.

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I keep my vehicles forever.  I plan on keeping my 5ver for a while.  It is a shame that manufactures have not come up with a 1-5 year lease option.  I think that would interest a good portion of the market.  

Edited by rynosback

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7 hours ago, rynosback said:

I keep my vehicles forever.  I plan on keeping my 5ver for a while.  It is a shame that manufactures have not come up with a 1-5 year lease option.  I think that would interest a good portion of the market.  

They do. It is called the 5 or 10 year plan. You can't believe the amount of people finance these rigs for 10 years.

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5 hours ago, Dan Johnson said:

They do. It is called the 5 or 10 year plan. You can't believe the amount of people finance these rigs for 10 years.

That sounds like a finance option, not a lease.  In a typical finance option they own the rig after the term of payments is up.  At the end of a lease, you turn the rig back in or buy it at a predetermined price called the residual.  

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11 hours ago, Dan Johnson said:

They do. It is called the 5 or 10 year plan. You can't believe the amount of people finance these rigs for 10 years.

By the time I get my Duramax paid off it will be almost 10 years. Had to refinance 3 times for repairs!

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16 hours ago, rynosback said:

 At the end of a lease, you turn the rig back in or buy it at a predetermined price called the residual.  

We did that with cars twice. The first time it saved us money but the second it cost us a bunch. I would never consider that with an RV.

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RVs are not an investment.  They are a declining value asset. 

In some cases, you might buy an old worn vintage RV and fix it up, use it a few years and break even if you do the labor.

Ken

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15 hours ago, Kirk W said:

We did that with cars twice. The first time it saved us money but the second it cost us a bunch. I would never consider that with an RV.

Kirk, lease are not designed to save you money.  They give you a monthly cost to use a car.  And every three years you get to turn it in and drive another.  They do lease cars on specials by either changing the residual or the money factor.  The two items that determine the monthly lease cost.  Most manufactures give you 12-15k a year in mileage. You have to read the fine print on conditions like tread on tires, dings and scratches.  You can usually buy more mileage upfront for a reduced cost and roll it into your payments if you need to.  You could also buy the car at the end of your lease.  You can even negotiate the sales price.  Because sometimes the market price sinks more then they inticipated.  If you are the type of person that drives a new car every 3 years, then leasing is a good option.  

Leasing could be good on an RV if the residual and money factor was low enough.  

Plus leasing creates a great used market.  I would get a list of leases coming due when I sold cars.  So I could try and match up a used car buyer that wanted that color and options.  Plus I would sell or lease a new car to the person turning the lease in.  

The samething would apply to RVs.  

People have different needs, this just gives them another option.

Edited by rynosback

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