Buyers market?
Hello, First post here so I hope I didn't already make a mistake by misplacing the category. We have owned a double slide truck camper for about 7 years now. We are heading down the path of a ...
Forum Discussion
A big question is how long this goes on:
- If things open up in 3-4 weeks, there might be some deals but don't expect huge numbers of dirt cheap sales. Most people can wait out a month or two or at least they will try.
- If the economy is still shut down come July, expect super cheap deals aplenty. A large percentage of rigs have loans and those people likely have other bills that come before keeping a toy.
The other question is do you have cash outside of the market? If you have to liquidate investments that are 30% down, you really haven't made that great of a deal.
Dealers will likely react a bit different than private sales.
- A retired couple might be able to make it on SS alone if they liquidate leveraged assets, so even if they take a loss or even just get enough to clear the loan, it may be a good thing for them as it may avoid losing the house.
- Taking a big loss on a sale only helps a business with monthly cash flow but unless there is a light at the end of the tunnel, doesn't help keep the business alive long term.
Unless YOU are somehow forcing or tricking them into selling, there is no moral dilemma in getting a good deal. If there are better offers, they are free to take them. If not, it's better to have an offer than not have an offer.
- If things open up in 3-4 weeks, there might be some deals but don't expect huge numbers of dirt cheap sales. Most people can wait out a month or two or at least they will try.
- If the economy is still shut down come July, expect super cheap deals aplenty. A large percentage of rigs have loans and those people likely have other bills that come before keeping a toy.
The other question is do you have cash outside of the market? If you have to liquidate investments that are 30% down, you really haven't made that great of a deal.
Dealers will likely react a bit different than private sales.
- A retired couple might be able to make it on SS alone if they liquidate leveraged assets, so even if they take a loss or even just get enough to clear the loan, it may be a good thing for them as it may avoid losing the house.
- Taking a big loss on a sale only helps a business with monthly cash flow but unless there is a light at the end of the tunnel, doesn't help keep the business alive long term.
Unless YOU are somehow forcing or tricking them into selling, there is no moral dilemma in getting a good deal. If there are better offers, they are free to take them. If not, it's better to have an offer than not have an offer.
