New to RV world, I have a few questions
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Feb-16-2017 11:43 AM
First of all I am very new to the RV world. I am planning to live in a RV for a few years as I am moving from Boston to L.A.
I am very much between a TT and Motorhome.
I currently own a car.
My budget: ~40K loan (will finance everything)
Option 1:
Sell my car and pay off my car load (I will probably be even on it), buy a truck and a TT (both used)
I have found decent TT for around 20K and also either a newer 1/2 truck (2012, 2013) for around 20K or a 3/4 truck (2009, 2010) for about 20K also
On this option 1 I am looking to get at least 33 foot Trailer and, I was wondering if any 1/2 ton will be able to tow it or I need a 3/4 ton truck after all? I would definitely prefer a 1/2 ton truck because once I get to my destination, I will be using that same truck to drive around, go to work, etc. I think the MPG difference and price difference is quite big between 1/2 and 3/4 truck.
Option 2:
Buy a used Motor Home class A and tow my current car.
On this option 2, I would preferred a diesel engine 35-37 footer (like a bus) kind of motor home. I have found one or two 2001, 2002 for 30K.
I believe option 2 is a easier transaction because I only need to buy one thing and a relatively simple hitch to pull my car and I am good to go. However, is it a good option if I am planning to live in it and perhaps not drive the motor home at all for 1-2 years ?
Too many question to ask but that is pretty much what in my mind at the moment.
I hope I made it clear.
Thanks for the help in advance and please I want to hear what you think!
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Feb-21-2017 01:18 PM
masdrobeda wrote:toedtoes wrote:
Seems to me if you're going to finance the entire thing, you're better off spending those monthly payments on rent for an apartment.
You have a good point. However, first of all, I am not sure where I am going to be landing a job so If I am mobile I am in a little better shape.
Second, I have been looking and its hard to find anything under $1500 a month not including that I have to find a place to accept 3 cats.
Third, rent is just money flushing away every month. With a RV, I am actually paying "rent" on something that I ended up owning in a few years (5-10 years). Also, I dont plan to live in the RV for longer than maybe 2-3 years.
Thanks for the feedback
The whole buying vs renting is valid IF you were not flushing an astronomical amount of money away paying INTEREST!
You may also want to consider the cost of insurance on each option. As well as the cost of licencing each option. How about upkeep? The cost of motorhome repair vs truck repair.
TV: 2010 Nissan Titan Pro4X Crew Cab
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Feb-21-2017 12:50 PM
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Feb-18-2017 01:27 PM
However, and i'll be nice as possible. the way you're thinking, the way you're going to be getting these loans, you sound younger(ish), and again, sorry, but your mindset shows you're really not all that educated, meaning you probably don't have a job where you should be able to even afford these things. Again, don't take this as rude, that's not my intention. A motorhome / travel trailer, those are luxury items, getting loans for these are a bit harder, you should never ever for any reason purchase something like this on credit.
If you have the cash on hand, take it to a credit union, then turn around and borrow against it. I have over 540k being financed right now, I own it all, i even own the money i'm using to finance the toys ( boat, bike, TT, buggy, etc ). This, in a perfect world is the best way to finance something that's not a primary item. By primary, I mean, home, and transportation. Just because you decide to live out of your TT, does not make it a primary item, at least, not to a bank.
Good luck, I hope you find a job that pays well, and I hope you find a job you enjoy. As of what you've stated though, good luck. You've already told us you plan to break the law, which means you're already starting off on the wrong foot.
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Feb-18-2017 08:03 AM
masdrobeda wrote:
You have a good point. However, first of all, I am not sure where I am going to be landing a job so If I am mobile I am in a little better shape.
Second, I have been looking and its hard to find anything under $1500 a month not including that I have to find a place to accept 3 cats.
Third, rent is just money flushing away every month. With a RV, I am actually paying "rent" on something that I ended up owning in a few years (5-10 years). Also, I dont plan to live in the RV for longer than maybe 2-3 years.
Thanks for the feedback
So, how are you going to find a place in 2-3 years that is affordable and will allow your 3 cats if you can't find it now?
1998 American Clipper Fold n Roll Folding Trailer
Both born in Morgan Hill, CA to Irv Perch (Daddy of the Aristocrat trailers)
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Feb-18-2017 07:59 AM
$40,000 for a truck & trailer OR motorhome fully financed for 5 years will run you about $700 per month*. Then add in the lot rent of say $400 (inbetween your examples). That's already $1100 per month.
So for $400 less, what do you gain?
You have to pay for all maintenance work yourself - no landlord responsible when something/anything goes wrong.
Your "home" will be less insulated so you will feel the cold/heat more.
You will be living in less than 190sq ft (which would be slightly bigger than the just bedroom in an apartment).
You'll be paying more in fuel costs to commute to and from work in the large truck you bought to move the trailer around (in a city notorious for its ridiculously slow commute).
If something goes wrong in the trailer and you have to take it in to a shop for repairs, you will not have a home for that time.
*That's assuming your loans will have an interest rate of 5 percent or less. And that you will be able to qualify for two loans fully financed at the same time.
1998 American Clipper Fold n Roll Folding Trailer
Both born in Morgan Hill, CA to Irv Perch (Daddy of the Aristocrat trailers)
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Feb-18-2017 07:13 AM
As recommended, renting makes more sense.
Just right for Grandpa, Grandma and the dog.
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Feb-18-2017 05:40 AM
Whether one buys new or used everyone one of us is potentially in for a world of hurt if we assume that just because the trailer may have a "warranty" or "guarantee" of one sort or another that all will be taken care of. Reality is, it just doesn't work that way and your first line of defense against unexpected issues with your trailer is your own personal effort in understanding as much as you can about how the various systems work and the willingness to do as much of the maintenance / repair yourself. You're kidding yourself if you believe otherwise so as a self declared newbie I'd agree with others who say your plan to fully finance this little adventure is a really BAD idea. RVs are called recreational vehicles for a reason and generally aren't intended as a year round substitute for sticks 'n bricks accommodation, be it a house, or apartment, or whatever. Obviously you can do what you want but your plan isn't something I would recommend to anybody I know. 😞
2014 Coachmen Freedom Express 192RBS
2003 Fleetwood Yuma * 2008 K-Z Spree 240BH-LX
2007 TrailCruiser C21RBH * 2000 Fleetwood Santa Fe
1998 Jayco 10UD * 1969 Coleman CT380
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Feb-18-2017 05:11 AM
2004 DODGE RAM 2WD 305/555 ISB, QC SRW LB NV-5600, 9k GVWR
Hensley Arrow; 11-cpm solo, 17-cpm towing fuel cost
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Feb-17-2017 05:13 PM
Here's my reasoning: One guy doesn't need 30' of trailer. A 24' model has a bath with shower and a queen sized bed. About the most difficult aspect will be storage. Depends on how much stuff you will be bringing along.
The 1/2 ton will be easier on gas and although not much, gas prices in the Inland Empire are high. A young working guy needs all the pennies he can save. A smaller trailer may also net you a parking spot that is cheaper (friend's driveway) where a bigger one won't fit. A smaller trailer is less in price.
I would definitely crunch the numbers on this and see if your loan payments on the vehicle and trailer/motorhome will be so high that driving your car out there and finding shelter is a better proposition. Calculate in repair/maintenance cost and the possible lot rents to see how the equations come out. Also, if you get the motorhome, will you have available funds for a new set of tires or other large repair bill?
Often, buying an RV for permanent lodging while working is not an efficient proposition. It works for those that need to be mobile but those that are working and permanently situated may do better by renting a place.
'71 Starcraft Wanderstar -- The Cowboy/Hilton
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Feb-17-2017 04:43 PM
Apply for a loan while planning to quit your job? Will you tell the loan company of your plan? Or is that their tuff luck?
You can find a job in LA but you won't find an RV space.
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Feb-17-2017 09:57 AM
A: A Stick....
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Feb-17-2017 09:29 AM
braindead0 wrote:masdrobeda wrote:How do you expect to get a loan, without a job???
You have a good point. However, first of all, I am not sure where I am going to be landing a job so If I am mobile I am in a little better shape...
I will get it a month prior to quit my current. I am also looking for a job in the LA area as right now so I could be going there with a job in place
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Feb-17-2017 09:01 AM
masdrobeda wrote:How do you expect to get a loan, without a job???
You have a good point. However, first of all, I am not sure where I am going to be landing a job so If I am mobile I am in a little better shape...
2013 Econ 16RB TT
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Feb-17-2017 08:29 AM
beemerphile1 wrote:
Where you planning on parking that RV? You're going to pay lot rent (campground fees).
I am indeed have to pay lot rent. I have found a few ranging from someone's driveway for almost no money to a really nice one with pools and everything for $800-$1000 a month. I think that there are enough options out there to fit my budget and needs.