Grit dog wrote:
tommyznr wrote:
APT wrote:
RVs depreciate around the same rate as automobiles. ....
I don't think this is true. I was told that RVs depreciate some amount the first three years and then drop in value slowly from there. I don't remember the percentages.
Antidotal point: We bought a 2004 Suburban for around $35 - $40k and 2004 Keystone Hornet for around $12k brand new. In 2018 we got about $1k for the Suburban and about $8k for the Hornet. The Suburban with 250,000+ miles needed about $5k worth of work, the Hornet needed about $1k worth of work.
Well looks like the ole Shawnster split, but what you posted above is wholly an incorrect and far oversimplified example.
Depreciation is what it is and yes RVs, cars, other motorized toys DO depreciate similarly.
However there are many more factors to that equation.
Like your example, your rusted out or gonna be rusted out (no way it wasn’t a year round driver in the rust belt with those miles), clapped out, quarter million miles, prolly a destroyed drivers seat also on top of “$5k in (deferred or neglected) repairs needed” Burb is likely no way comparable to your camper unless it too was left out in the back yard for 14 summers and winters and crossed the country 22times while being lived in…in which case it would t have sold for much either.
The reality is your camper was probably used FAR less and not left to rot, not towed through road salt for 14 winters, etc.
Your burb was a used up old bomber. Heck I just got $4k (coulda got $4500 but I didn’t want to rip the buyer off I knew what needed work and he overlooked it…) 140k miles, needed “some” work. More like $1k, dented to shite about a 5 out of 10 in condition. No rust here.
The one before it bout same miles but no work needed and an 8-9 out of 10, sold for $8500 in 2 days 2 years ago.
And not the least of which is how desireable the “thing” is. You can buy NICE older Maseratis for dirt cheap when a comparable Porsche or Audi is FAR more expensive. They were both equally expensive new, but the Maseratis are steaming piles of poo and even more expensive to repair than the German cars. Like everyone will pay to dollar these dates for used Ford Fkin Rangers. Why? Because they’re more desirable than a same era S10.
You have to compare apples to apples although maybe don’t understand that. Hence my post.
Naw, but I realize it was just an example and the devil is in the details. But you give examples of used items sold within the last three years. I could have sold my 2017 pick up for more than I paid for it in the last three years.
The Suburban was in great shape body wise. I just remember saying that I had a choice between putting about $5000 into it and hoping nothing major went wrong right after that vs. going with a pick up and 5th wheel. It needed things like tires, shocks/struts, rear wiper and some other minor stuff I don't much remember.......it was 14 years old in 2018 after all. The camper needed an awning, tires and some minor TLC. Hail dents were barely noticeable.
Now I will admit the camper value was a hail damage insurance claim plus a "trade in" with a dealer that "does not negotiate" price on new equipment. Obviously the out the door price included over paying for my trade in.
Anyway, I am not convinced that (non-motorized) RVs and Automobiles depreciate at the same rate based on my experiences and what I had learned in the past.
