so the wife and I just can't seem to figure this out.
we have 3 kids (11, 8, and 5) and just got back from a trip and rented a trailer. loved it. didn't like the feeling of staying in a rental though.
last year we rented a class A. again, had the time of our life.
thinking about buying a trailer and trading in my jeep for a 2500HD. I think with the trade-in we could go all in for about $1200/mo after new vehicle, new TT, and storage.
Then we starting figure that's about 15K a year. The financials start looking ugly.
I know it's not a financially savvy investment. It's much like a boat. It's expensive and a lifestyle investment. Just having it will make us do more weekends away and I'm sure there will be times where we are sitting at a campsite, the kids are playing with new friends, we are grilling and we nod and think "yeah, this was an awesome idea". You only live once. The kids will be young once. But our weekends are fairly booked up with soccer games, and other commitments and the reality is different from the dream of getting away often.
Also, when renting, you tend to think about spending the money on other things. If we had an investment, we would feel obligated to take the extra steps to hit the road. When we are on the road, we adore it.
But the logical side of me has a hard time pulling the trigger.
Love to hear your thoughts...
I would spend time deciding how much you plan to use the trailer. That in itself is a huge consideration. Then there is maintenance, insurance, taxes, and depreciation. Figure about half value in five years. A $30,000 trailer will be losing about $250 in value each month for the first five years. Add that to your $1200/month investment budget.
As others have indicated I would purchase 'pre owned' and go from there. Same with the tow vehicle. For many $1200 is a house payment with taxes and insurance plus principal and interest. Do you really want to spend that amount each month for something you may not use all that much?
If you have the money go for it, you only live once!
