Good Sam Club Open Roads Forum: General RVing Issues: our current FINANCIAL situation
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 > our current FINANCIAL situation

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trx680

VA

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Posted: 05/07/20 07:16pm Link  |  Print  |  Notify Moderator

So I read the post here where it's claimed that RV sales are up.
I heard that Class B van types campers are up slightly and everything else is down.
My thinking is... I'm not going in debt right now until things calm down and get more back to normal. And I have been out of work for 7 weeks.
Unemployment is through the roof right now. I really don't see how RV sales could be up since this crisis. Unless theres something I'm missing.
When you are out of work or on a reduced schedule why go into debt for something like an RV. Even if you are still working isnt it in the back of your mind "what does the future hold"??

I would expect to see alot of RVs, boats, motorcycles, etc up FOR SALE and an increase of repossessions.

Me personally, well, I was at the RV show earlier this year...just looking. Glad I didnt buy anything.

Dutch_12078

Winters south, summers north

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Posted: 05/07/20 07:36pm Link  |  Print  |  Notify Moderator

I suspect a number of RV's are being bought as "isolation chambers" for folks trying to avoid potentially infecting family members if their jobs place them in potential CV-19 exposure situations. Others are likely being bought as replacements for vacations normally done by air or cruise travel. And of course some are just long planned purchases that happen to come together now. Certainly some of the sales are being financed, but I'd bet not all of them...


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troubledwaters

Potomac

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Posted: 05/07/20 07:47pm Link  |  Print  |  Notify Moderator

So just reread your first sentence. You're post is tied to that sentence being true.

cptqueeg

Idaho

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Posted: 05/07/20 08:35pm Link  |  Print  |  Notify Moderator

I just retired and thought I'd planned perfectly. I had planned for the stock market to tank at the beginning of our retirement so I reduced my exposure to the stock market, sold our house, and moved to an area w much lower cost of living last year. My current income is based on sales of fresh potatoes and onions and only a pandemic could and did hurt that business. The business withstood the dot com bubble, 9/11, and the Great Recession with barely any reduction in sales at all, but so far the first 2 months of the pandemic have been very discouraging. People need to eat but w no restaurants and 35 million plus unemployed even something as basic as a potatoes and onions are not selling. I don't know of any business that is impervious to the current and forthcoming economic disaster.

I want a truck and truck camper, but I'm really having a hard time making the decisions required to go through with the purchase. I'd like to visit the plant were the camper's are made but the thought of spending 3 nights in a motel is horrifying right now.

I'm not sure what interest rates are being paid on rv's but they must be historically low and gas is very inexpensive. However, I wouldn't want to be mixing it up in campgrounds and rv parks(not my style anyway.) If I was younger and had kids to feed and educate I wouldn't be in the market for any major purchases (oil changes and new tires only)till there is a vaccine for cv19.

* This post was edited 05/07/20 10:06pm by an administrator/moderator *

time2roll

Southern California

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Posted: 05/07/20 08:38pm Link  |  Print  |  Notify Moderator

RV debt might be lower than the apartment rent. And more mobile for a job offer out of town.

Modest RV is actually a way of life for a growing number of people.


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DownTheAvenue

Sunny South

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Posted: 05/07/20 08:47pm Link  |  Print  |  Notify Moderator

RV sales are up and probably will continue to increase. People who would travel overseas or fly to expensive domestic destinations are diverting that money to a RV purchase so they can vacation more locally.

free radical

Canada

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Posted: 05/07/20 09:26pm Link  |  Print  |  Notify Moderator

trx680 wrote:

So I read the post here where it's claimed that RV sales are up.
I heard that Class B van types campers are up slightly and everything else is down.
My thinking is... I'm not going in debt right now until things calm down and get more back to normal. And I have been out of work for 7 weeks.
Unemployment is through the roof right now. I really don't see how RV sales could be up since this crisis. Unless theres something I'm missing.
When you are out of work or on a reduced schedule why go into debt for something like an RV. Even if you are still working isnt it in the back of your mind "what does the future hold"??

I would expect to see alot of RVs, boats, motorcycles, etc up FOR SALE and an increase of repossessions.

Me personally, well, I was at the RV show earlier this year...just looking. Glad I didnt buy anything.

Ive only been in debt once when I bought my first house,,
fliped it 6 month later and bought another for cash.

Never been in debt since and never plan to,especialy for such depreciating aset like RV.

Paid cash for my new truck too.

If everyone thought like me,you wouldnt ever need to worry about future or economy.

DallasSteve

Texas

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Posted: 05/07/20 09:27pm Link  |  Print  |  Notify Moderator

I had planned several years to buy an RV and try full time living in it. I compared my savings to my years left before I want to take Social Security and it works. So I bought in March. The bad part is a lot of public parks are closed now and a lot of the tourist things I want to do are closed.

The good part is I saved money the last 30 days by staying in an RV park for $375 plus $30 electric and I didn't have to fill up my motorhome tank until today which I did at $1.46 per gallon. Then when I drove into Dallas today I say a couple of stations at $1.22 per gallon. Is it possible we will be seeing 99 cent gas again? That will help my budget even more.

But the bottom line is, since I've been retired for 2 years the economic crash doesn't hurt me, but this first time ever, hide under your bed shutdown makes it not so much fun. But the Texas Supreme Court ordered the dangerous Dallas hairdresser released from jail today, so things may be getting better after all.

Oh, and I think the list price on my new motorhome was $126K and I paid a little under $81K plus tax. My math says that's a 35% discount, which sounds good. Anyway, it was the best price I could find in the country and I liked the floorplan. I still think it's a great buy if the plumbing would stop leaking or if I could get warranty service in a timely fashion.

* This post was edited 05/07/20 09:34pm by DallasSteve *





pnichols

The Other California

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Posted: 05/07/20 10:00pm Link  |  Print  |  Notify Moderator

free radical wrote:

trx680 wrote:

So I read the post here where it's claimed that RV sales are up.
I heard that Class B van types campers are up slightly and everything else is down.
My thinking is... I'm not going in debt right now until things calm down and get more back to normal. And I have been out of work for 7 weeks.
Unemployment is through the roof right now. I really don't see how RV sales could be up since this crisis. Unless theres something I'm missing.
When you are out of work or on a reduced schedule why go into debt for something like an RV. Even if you are still working isnt it in the back of your mind "what does the future hold"??

I would expect to see alot of RVs, boats, motorcycles, etc up FOR SALE and an increase of repossessions.

Me personally, well, I was at the RV show earlier this year...just looking. Glad I didnt buy anything.

Ive only been in debt once when I bought my first house,,
fliped it 6 month later and bought another for cash.

Never been in debt since and never plan to,especialy for such depreciating aset like RV.

Paid cash for my new truck too.

If everyone thought like me,you wouldnt ever need to worry about future or economy.


Hmmm ... why pay cash for a new truck during certain times - such as now ... when instead you can finance that truck at zero/near zero interest and instead wisely buy certain securities that are going to go through the roof when this temporary situation is over??


Phil, 2005 E450 Itasca Spirit 24V

Guy Roan

Florida

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Posted: 05/08/20 04:37am Link  |  Print  |  Notify Moderator

pnichols wrote:

free radical wrote:

trx680 wrote:

So I read the post here where it's claimed that RV sales are up.
I heard that Class B van types campers are up slightly and everything else is down.
My thinking is... I'm not going in debt right now until things calm down and get more back to normal. And I have been out of work for 7 weeks.
Unemployment is through the roof right now. I really don't see how RV sales could be up since this crisis. Unless theres something I'm missing.
When you are out of work or on a reduced schedule why go into debt for something like an RV. Even if you are still working isnt it in the back of your mind "what does the future hold"??

I would expect to see alot of RVs, boats, motorcycles, etc up FOR SALE and an increase of repossessions.

Me personally, well, I was at the RV show earlier this year...just looking. Glad I didnt buy anything.

Ive only been in debt once when I bought my first house,,
fliped it 6 month later and bought another for cash.

Never been in debt since and never plan to,especialy for such depreciating aset like RV.

Paid cash for my new truck too.

If everyone thought like me,you wouldnt ever need to worry about future or economy.


Hmmm ... why pay cash for a new truck during certain times - such as now ... when instead you can finance that truck at zero/near zero interest and instead wisely buy certain securities that are going to go through the roof when this temporary situation is over??


I completely agree with you and think like you,except it took me a little longer to get to this point.

Guy

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