Potential White Elephant

[pconroy328]

For a couple of reasons, we're going to go through with a classic White Elephant Class C purchase.

It's a family friend, they really need to sell and we're ready to try our hand at a starter Class C.


It's a 2008 with 76,000 miles. Way more miles than I'd like but the price is about half of what a dealer would ask and it is our small way of helping a friend who needs the money.


Low and behold, when I went to secure financing I'm running into the problem that the miles are too high. Seems like most lenders won't lend anything after 60K.

We'll figure out the financing, but I'm thinking I'm buying a White Elephant. If/when I want to sell this thing in a couple of years, the next potential buyer will have the same trouble: they won't be able to secure a loan.

I guess I'm looking for some thoughts, as I like to think ahead. What's the general approach with unloading high-mileage motorhomes?

Do they inevitably end up as a Trade In? Will there probably be a dealer, somewhere, that's willing to take it as a trade in? Note I'm assuming we're going to like the Motorhome lifestyle and trade up.

Thanks!

[donrebyct]

Camping World claims to offer purchase loans for coaches up to 8 yrs old if I remember right, and re-fi for up to 10 yrs. Or is it 6 and 8 years. Whatever, it's worth checking out. Ditto for KOA info picked up at Little Rock RV show yesterday.

[IAMICHABOD]

I wouldn't worry too much about the mileage if it has been well maintained and documented. 76000 miles is just getting broke in.

My 2006 Chevy has more than 98000 on it and it was maintained very well as a rental I have had no problems at all with it.

There is a informative thread in my signature about a RV on a Chevy chassis that may be of help. Be sure that when you ask questions about anything chassis related that you say it is on a Chevy chassis or you will get mostly answers pertaining to the Fords. As you can see from some of the answers.

Welcome to the land of Class Cs and a minority of Chevy Based RV Owners.

[cgmartine]

Did I read correctly? 76 thousand? as in $76,000? If that is how much the OP is paying, that is more than twice what it is worth, regardless of its pristine condition. It is commendable to help a friend, but also not wise to burden your own family with such a purchase (sorry, just my own personable feeling). I agree that it is worth between $25,000 to $28,000, max.

[Artum_Snowbird]

After looking on RV Trader and seeing what is there, a likely asking price for this unit would be 25-28K. Certainly things like tires, front ends, batteries are all suspect, and you should know what is right and how old things really are and not just assume they are right.

While you're being noble in your mind, if you took the unit to a dealer and asked what they would give you for it, cash deal, no trade, that should be pretty close to the price you pay too.

If it really was that easy to get more at the dealer, then they should take it.

[pconroy328]

Mike Leslie wrote:
Just a thought, is the price too high? Can you tell us a little about the rig?
Mike Leslie

Sure it's a 2008 Coachmen 2130. Chevy 3500 chassis. 6L Vortec. 76K is higher than I wanted too but like I said the price, for us, was way under NADA and way, way, way under similar models (albeit with less miles) on dealer lots up here.

Since we know the history and that they were really good about maintenance, I'm OK with something with this many miles on "somone else's rig".

But like others have pointed out, the price might be moot for a lot of folks if financing options peter out over 60K miles.


I'll be candid and say I think that owning an RV is like owning a boat or a pool. It's a losing proposition. I think we just need to get comfortable with trying to minimize the loss. 😉

[Cobra21]

I don't mind having 80,000 miles on my RV, but not sure if I would want some one else's with 80,000.

[pnichols]

What kind of Class C is it?

A Class C built on a Ford chassis with the V10 engine is of no concern with respect to that (low) mileage. V10 powered Ford commercial vehicles often remain reliable into the hundreds of thousands of miles.

Much more important is the workability of the appliances and has it's roof or windows or vents or roof antennas caused leaking into the interior of the walls. If the appliances work and there's no evidence of leaks and it's on a Ford V10 chassis - and if you can find a way to come up with the money - I'd say "go for it".

P.S. We have around 49,000 miles on our 2005 Class C and it better-have/has years of life left in it. We still consider it as "our new motorhome". But it does take maintenance to keep a Class C going down through the years. A motorhome is not like a family vehicle to keep in pristine shape - it takes a lot more time and money with the motorhome, due almost entirely to the "home" part of it - not the "chassis" part of it.

[Mike_Leslie]

Just a thought, is the price too high? Can you tell us a little about the rig?
Mike Leslie

[dennyida]

I really can`t see where the miles are that bad for a seven year old RV and why the lender won`t go with anything over 60,000 miles. Then again ,some banks and credit unions have some funny rules. As far as the motor home goes if it`s in good shape and has had regular service I would go for it. If it has the ford V-10 the engine is just broken in. Just be aware as has been stated in the forums here check tires, brakes, front end alignment , batteries and anything else in the house . It`s nice that you are helping out a friend in need. GOOD LUCK

[Randu]

Rig is 7 years old so that mileage is only about 11,000 miles a year average. I average towing about 5k-6k a year and that is only spread out on long weekends and a few weeks that my 5 weeks of vacation allow. I look at that mileage and know the unit was used and not allowed to sit long periods of time. I would have much more confidence in a higher mileage coach than low miles and hardly used. Randu

[kalynzoo]

One persons White Elephant is another persons dream RV. Financing through an RV lending agreement is a problem, so it depends on how much needs to be financed and what other equity can be used. A line of credit as an example.
Helping a friend is noble, and I salute you.
What will the "while elephant be worth to the dealer in the future? I just traded in my 11 year old rig with 50k miles on it for a new coach. NADA was 60K, the dealer gave me 40K sight unseen. My lovely, well kept, well cared for RV was just inventory to them. I enjoy my new RV and I was content with the bottom line of the purchase.
Happy Trails.

[tatest]

Most RV dealers will take just about anything short of a rotting hulk as a trade-in, in order to make a profitable sale. They just may not pay much for it.

What happens with older RVs is that they depreciate to prices at which potential buyers are those who don't need loans, or can't get loans for anything, and save to buy things. This is a lot more common in the generations raised before the era of consumer credit, so this market will shrink as we die off.

[enblethen]

Welcome to RV.net and the wonderful world of RVing!
The mileage is about double what I would figure as average.
Yes, most are used as trade ins.