Posted on 07/06/2017 12:18:39 PM PDT by yetidog
How do people afford RV's?
Enough!! A nice Prevolt or Newell can set you back a million five, or a used Bounder could cost you 10k. We know some folks who buy a new Newell every three years. They drive it down to Palm beach in the fall, back to Conn. in the spring,and trade their used Newell in for a new model.
Another couple sold their MI home, bought a nice class A diesel coach and have been seeing the country for the last decade.
When we had the ranch, we’d put up 600 tons of alfalfa a season, put away all the gear, grease and lube it all, and load up our bird. A Bluebird 38 foot Detroit diesel pusher. Hay season is 18 hour days, seven days a week.
and head south
Sold their California house they’ve owned for 40 years that was purchased for a song.
It’s a model 297 RET.
Not to get into an argument with you;
Debts aren’t really “called in”. True, an RV loan is a personal, recourse loan. If a borrower stops paying on an RV loan, yes, the lender will repo the RV. But that is absolutely the last thing a lender wants on such a rapidly deteriorating asset. Provided the loan is somewhat seasoned, the lender repos the RV, the borrower, unless he has spent each and every dime he has, ends up with a $5K-$10K-$20K deficit and works out a payment plan and gradually pays it off over some amount of time. Or goes BK if its bad enough.
These “Great Depression” scenarios are in my view every bit as distorted as the “free credit forever” scenarios.
My folks, too, were children of the GD and lived in Detroit up until WW2. My Dad’s father emigrated from Russia and built 4 multifamily buildings. When the crash hit, there simply was no money for people to pay their rents. His tenants all just stopped paying rent, and he was foreclosed out of all those properties.
But my folks acquired the “depression” mentality when it came to money and investing. They were vicious savers, spending only upon the childrens’ education and extensive travel for themselves. Yet when they moved from NJ to CA in 1980, my brother (moved to CA 10 years earlier) begged them for years to buy some investment property, but my Dad would not, having “learned” the lesson from his Dad in 1930’s Detroit.
Needless to say, though they did perfectly fine, my Dad instead started a couple of goofball businesses which went approximately nowhere. He could have retired with an estate 10x the size of what he had with only a couple of modest rental properties.
Now an RV is not an investment, indeed is is a contra-investment. My point is only that one can get just as warped with an infinitely frugal mentality as with a spendthrift mentality.
Well, I was being snarky and facetious. I would NEVER accuse a veteran of being a leech.
I guess there are some.
But when someone wants to rant at those retiring with a government pension - I guess they also include military retirees?
My Dad used to semi-jokingly boast he was a “triple dipper”. He collected US Army retirement, Civil Service retirement and Social Security.
http://www.nadaguides.com/RVs/2013/Keystone-RV/M-316-BIK/6534983/Values
NADA guide list price about $37 thousand. Retail price range 18 to 21.
>>my idea of a vacation is NOT cooking and cleaning.
My wife half jokingly (or less) says her idea of roughing it is staying at a hotel that doesn’t have a spa.
My wife half jokingly (or less) says her idea of roughing it is staying at a hotel that doesn’t have room service.
fixed it!!!
Wow sounds good.
I always wondered how so many could afford to live on the ocean in So. Fla. How is this "coveting"? It is merely wondering.
The depreciation on RV’s is phenomenal - I know of nothing that depreciates faster.
A boat is a hole in the water into which you throw money.
An RV is burning money. They can lose 20 - 25% of their value a year.
Was going to get a Class A motorhome until I researched it.
Even buying a Class A that has lost 50% of its original value is a waste.
No idea, but the last thing I’d want is a “home” that can break down in a bad part of town.
I live in a smallish town- 35,000...our county is the size of Delaware and has 65,000 residents.
Just popped by our airport - two G650’s, a Citation X, a BBJ, several Pilatus PC-12’s, a load of King Airs, 200’s and 350’s, all manner of small and medium jets and a bunch of high-end single’s. Mind you, these were the active aircraft NOT held in hangars. Loads more inside.
I’m happy these folk have their aircraft and share their wealth with my community.
RV’s and Boats are the biggest fools gold out there for folks.
I know people who own both and regret buying both.
Some of them rent their homes while they vacation in their RVs.
Check out < https://freecampsites.net/ >.
Also, before you buy, join < https://rv.org/ > and get access to their RV Ratings data. Will save You a lot of $$ and avoid buying mistakes.
Hope Your retirement dreams all come true.
I think it would be fun though.
Thanks for the link
IMHO a huge waste of money. RVs require constant upkeep, and when you factor in the high costs of sites these days, one is better off just staying in a hotel.
Maybe a boat could be a bigger waste of money, but at least boating is enjoyable.
I agree. We have fallen for the cult of consumerism as a society.
There is coveting and there is cheap consumerism. Watch you tube with my boys and it is unbelievable how spoiled some kids are. They watch Hobby Kids where every day the kids open up oodles of new toys.
If it has a toilet and a sink it qualifies as a second home and you can get a low interest home loan for it.
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