Looking at purchasing an RV

donn0128 wrote:

Okichewy1 wrote:
thanks for the information. It helps a lot with search process. Yeah, plan is to purchase with a 20 year loan and payoff within 12 years.

Big, BIG mistake. With a DEPRECIATING asset it will mean you will absolutely up side down for at least 12 years. Maybe more. At the end of 5 years you could still owe almost what you paid for it, and it could only be worth maybe 50%.
Unless you like throwing your money away,or have a lot of disposable cash look again at value. You pay 200K for a new MH, 5 years down the road you sell it for a hundred K. Can you absorb that much of a loss?

This is one of the big reasons I came on this forum, to gather information about MH's. I at least have 3 more years before we even purchase, but want to make sure we are doing the right thing. Me personally, I wanted to purchase a 2nd home on The Big Island, HI since I have found some for less than 200k. But the wife wants an RV.

So looking at RV dealer sites, they show the MSRP as say 200k, but sale price is 150k, then I emailed them and they say their online deal is 129k for a new 2018 model. If RV depreciation from the MSRP or the sale price? I am a pretty good negotiator when it comes to auto's and my boat. Didn't really need to negotiate when I bought my TT except the dealer dropping 1000 off the price to drive 6 hours to pick it up. There is so much to research in purchasing a MH I have found out.