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Fast_Track123's avatar
Fast_Track123
Explorer
May 27, 2016

Newbie Purchasing A Motorhome

My wife and I are new to the RVing world, and are concidering buying a used Disel Pusher (We live in Nevada, the Las Vegas area so we will be driving in the Moutains so we have decided on the Disel) My question is on financing. We are looking into RVs between the years of 2005 and 2008, for budgeting purposes, but not sure if it would be a good Idea to finance for 20yrs. I have read that a disel engines can last longer, but don't want to end up with a dead Motor Home before it's paid for, or what it might be worth after owning it 5 years. I hope someone who has knowlege in this area can help. I know there are a lot of variables, you never can guess how long something is going to last, but if everything goes the way it supposed to go, and with proper maintenance what can we expect.
  • Janss's avatar
    Janss
    Explorer II
    May 28, 2016
    Welcome to the forum!

    Have you rented an RV before? Make sure you both know that you like the RV lifestyle before investing alot of money or going into alot of debt.

    I know nothing about diesels, but have read that they last longer...probably longer than I will be RVing, so I don't care about that so-called benefit. Also, just because they last longer than gas engines, does that mean they have any less problems over time? What I do care about is that I've read maintenance is more expensive on diesels.

    We've had our two class A gas motorhomes up and down many of the mountain passes in all the western States with no problems. Sure, it's slow going up, but we're in no rush.

    I would never finance a depreciating asset for 20 years. You could easily end up being upside down (owing more than the RV is worth). Life happens. You may end up having to sell it before you would have expected, due to illness, for example.

    Lots to think about. Enjoy the process!
  • Johno02's avatar
    Johno02
    Explorer
    May 27, 2016
    How many years do you expect to be using it?? Will you last that long?? If you buy one 10 years old, you have already used half of you 20 year loan. And will still owe most of it. With proper maintenance, how long do YOU expect to last and be able to use it?? Snowbird has the right and best idea.
  • Artum_Snowbird's avatar
    Artum_Snowbird
    Explorer
    May 27, 2016
    While it might seem reasonable to make payments over time, the reality of buying a motorhome near ten years old and having success with your first one ever is fairly remote.

    A better outlook would be to save up about half of the purchase price, tax, and insurance. Use 1/4 as a down payment, finance 3/4 for three years, and have the other quarter in a secure deposit to be used for maintenance and to supplement the very odd payment when things in life go awry.

    Do a few searches on this forum in the Class A section for annual costs of ownership and spend time learning a lot about reality before considering this purchase.
  • the_bear_II's avatar
    the_bear_II
    Explorer
    May 27, 2016
    Don't rule out gas MHs. I see a lot of gas MHs doing well in the mountains both up and down grades.

    If properly maintained and not hot rodded a diesel MH should provide over 20 years of service. Take a look you'll see a lot of 1970's and 80's era MHs still on the road.

    So your choice is to make larger payments and get a shorter loan, make smaller payments with a 20 year loan or save up a few years and pay cash.

    Or get a gas MH and pay cash....

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