Financing vs. buying older model?

[Lady_Katie]

In your opinion, is it better to finance a newer motorhome, or to pay cash for an older one (10 - 15 years old.) - or maybe something in between - like a heafty down payment on 6ish year old model. We have never owned a motorhome before. I am estimating that our yearly use would be approximately 4 - 6 weekend trips within a 300 mile radius (or less) and one or two longer trips within a 700 mile radius. I have no idea if this is accurate or not (since we've never done this), or if this is considered average use, or what. I'm just taking my best guess. I would be surprised if we used it less than that.

I could see my husband handling most of the repairs and maintenance that the actual house part (is there a word for this?) would need, but he is not a mechanic, so any repairs to the part that you drive (is there a word for THIS? The cockpit? lol) we would have to bring it in for - so that's a factor.

Obviously I don't know what I'm talking about here, so any advice is helpful! Thanks!

[duffy]

Buy a used Born Free Class C as new as your budget allows for cash. You'll have few repairs and a safe and sturdy RV. We love our 2003 Born Free.

[timmac]

Lady_Katie wrote:
In your opinion, is it better to finance a newer motorhome, or to pay cash for an older one

While most will say pay cash for a older is better, but is not always the best way, I was thinking the same thing 3 1/2 years ago when I bought my 08 Bounder, I had $40,000 cash to spend but just did not like what I was seeing for my money, just to old looking and not the right motorhome, so I went up in price and found what I like and put the $40,000 as a down and have been happy ever since, also a high down makes it so your never up side down.

[stargirl96]

I like the advice to rent first before you buy. As far as buying any RV, I will offer the contrarian view. It's better to buy what works best for your situation, and not just settle for a used unit because of the low price. Bottom line--if you're unhappy with your RV you won't use it, or you will end up trading it in at a significant loss in depreciation. All RVs, both old and new, depreciate in value.

[garyhaupt]

It is a total mind bender, trying to figure what to do, what to buy. I am with the buy with cash group. Bear in mind...you will want to have it properly inspected prior to purchase. Tires on a used unit...unless you are really really lucky, the one you are buying will have tires that are over 5/6 years old. There are YouTube vids galore on how to tell when they were manufactured. It's not how many miles..it's how old are they. They deteriorate. That's around $1,500.00.

You don't show where in the US you are..if you are in Texas or Az..maybe the weather is always dry and hot. If you are in eastern US or the west coast? Rain plays a huge role. Some RV's are built like a house..with wood. Some are built with aluminum framing. You want the metal framing. RV's leak...sooner or later, they spring a leak. Wood rots and there is nothing to do but repair it or get rid of it. Huge bux. Which is which? Google is your friend. You can contact the manufacturer of one you are considering and find out if that model has wood r aluminum framing.

Buying an RV is a very expensive proposition. New or used. If the thing drives like a wallowing beast...that means replacing some very $$ parts. Plus the tires..and this can apply to new and that is not a warranty issue.

Renting is 100% the way to go. Especially if you are going for two weeks a year. A person really needs to look at what they plan to do. Can you afford to drive it even? You can figure 100 bux to fill the tank. And you are going to get maybe 350 miles on that. Unless you are boondocking and most first timers don't..$50.00 a night in a campground is not uncommon and you will pay BIG bux in Florida or Ca.

If you have to fix it too? A lot of monsy. Renting and it's not working properly? That is a an issue for the owner..not you.


Gary Haupt

[toedtoes]

For me, I came to my decision by looking at the next 7-10 years of ownership and how my finances would handle it.

Financing - you will have a set payment every month for X number of years. Do you have enough "spare income" to afford those payments plus the fuel, campsite fees, and so on? If you finance used, do you have enough to cover unexpected repairs in addition to the other expenses?

Paying cash - do you have enough to pay for the RV plus pay for any required repairs needed at the outset? Do you have enough "spare income" to cover unexpected repairs in the future?

For me, buying used with cash was the better way. I put in a lot of money over the first 3 years getting it back in topnotch shape, but I was able to spread out the work as money was available. Without a monthly payment, I was able to go out much more often and still saved money in the long run.

For someone else, financing makes more sense because they have a lot of "spare income" to cover payments and use expenses while having a warranty to cover repairs.

[mlts22]

I might take the minority view here:

If you are planning to keep the rig until the wheels fall off, buy new, and finance it. However, make -sure- to pay enough down (I paid 20%) so you are nowhere near upside down, and if something happens, you can sell the rig, pay off the note and be out from under it.

I rarely buy vehicles. When I do, I tend to keep them forever. Since a RV is a big purchase, I like buying new, dealing with the teething pains, and having something just to my liking that I will wind up keeping for a while.

Where I live, almost every campground has a 10 year rule, so might as well get every year you can from a rig.

[winnietrey]

Problem with paying cash, is the tendency to try and go cheap. Unless of course you have a boatload of cash and can afford a nicer, newer rig.

Its a balancing act, new ones you get hit with big depreciation and big payments, go to old and to cheap, constant repairs and breakdowns.

I kind of think, the sweet spot is in the middle, maybe 4 to 6 year old rig with a healthy down payment. Ideally, from an older couple, who are getting out of rving.

A rig in good shape, something you can trust is worth a lot. Even if you have to finance a portion of it.

[ron_dittmer]

PghBob wrote:
Remember in most RVs that there is a maximum amount of weight each unit can carry. For people, food, water, toys, clothes, grills, skis, etc. the max each unit can carry is defined as the Occupant and Cargo Carrying Capacity (OCCC). Find out the OCCC of the RV under consideration. Remember that what you carry in the RV is determined by weight, not space.

You bring up a very good point. There are many posts about rigs with contents weighing more than the Ford/Chevy/Sprinter/Promaster can officially handle. Compounding the problem is the limitation of the E-rated tires. They get over-loaded followed by tire blow-outs. Some of the longest motor homes with multiple slide outs can get quite heavy rolling off the factory floor. By the time you add a full tank of fuel, fresh water, occupants and all their stuff, the rig is over-loaded.

Some of the shorter motor homes can have the same challenges because the RV manufacture will build them on the lower rated chassis.

There is a fine line between load-limit and comfort-ride. The ride of a near fully loaded chassis will be much smoother than one with 2000 pounds of surplus margin. That is why RV manufactures use the Ford E350 on the shorter models instead of the E450. If they use an E450 on a 22 footer, the rig would bounce hard down the highway. You'd have to use paper plates and cups because regular dishes and ceramic mugs would be breaking, and the house itself would be coming apart.....cabinets would be falling off the walls.

[PghBob]

Here is another recommendation for renting a unit before purchase. But, don't just rent it and park it in one spot. Practice driving, practice backing up, gain experience using mirrors, practice hooking up & dumping. Learn how to turn on and off the propane. Learn how to fill and drain the water tank.
Before purchasing, consider 3 important things. Check the rig for water intrusion. Check around the windows, especially if there is one up front, and any where there is a roof appliance (AC, vents, antenna). Push on the areas around windows and make sure the walls, ceiling don't feel "mushy". Smell for mildew. Look for stains.

Tires on RVs should be replaced about every 6 years no matter how good the tread looks or how many miles are on the tires. That's because UV radiation kills tires. Carefully examine the tire side walls for cracks. Check the tire date codes and replace if necessary.

Remember in most RVs that there is a maximum amount of weight each unit can carry. For people, food, water, toys, clothes, grills, skis, etc. the max each unit can carry is defined as the Occupant and Cargo Carrying Capacity (OCCC). Find out the OCCC of the RV under consideration. Remember that what you carry in the RV is determined by weight, not space.

Good Luck on your search.

[Campincarters]

When I purchased my 08 class c last year I anticipated new tires and brakes would be needed. I did have to put some more $$ into the rv in the last 18 months but I have also put on almost 14,000 miles on it. Get out and enjoy it. Sometimes we leave early Saturday and stay one night. Enjoy and have fun seeing America and meeting new friends. I sold rv' sin 07-09 so I was well aware of what I wanted for now. I hope to purchase another C in 2020 so I have been checking out new models now with a goal of purchasing a 2016 or 2017 then. I already have the model I want. Remember draw up a budget for the purchase, taxes if you have it, insurance, repairs, gas and camping costs and spread it out over the year.

[samven1]

One more to chime in for renting before buying. I had a small Travel trailer for years because it was an affordable way for me to go camping as I got to old to appreciate sleeping on the ground. I learned many things from that experience. We always kept it in good condition and when I finally sold it I only lost 4k on the trailer itself. The more painful loss was when my community HOA decided that trailers would no longer be allowed in driveways. I had to put it into a storage lot for $100/mo. I kept thinking I would find another place for it but after 18 mos I decided it was no longer worth it. After retirement I moved to the country with no HOA and started looking at Class C units and all the things that bothered me and that I loved about the trailer came flooding back. I dont regret buying my unit but I should have rented at least once because some things (corner bed) I would have changed.

[Bordercollie]

Wow, you took a drink out of a fire hose! Not mentioned, try to find a rig with a rear bedroom with an RV Queen size bed that has access on both sides. It's a pain to crawl over sleeping partner in the dark without waking them. Crawling up and down a ladder in the dark can be hazardous/painful in bare feet if one or both sleep in the overhead bed. Rear bedrooms are common in rigs over 26 feet long. Simulate using the restroom, dinette, and galley when deciding on length and floor plan. A 27 footer is only three feet longer than a 24 footer, but has much more cargo and cabinet space. Rent before buying to make sure that you both want to participate in preparing for camping/touring, cleanup afterward, basic maintenance and paying original cost, DMV and insurance, and repairs, replacement of tires every 4-5 years , and RV Park rental and on the road costs of using the RV . Owning and using an RV is an expensive hobby that can have rewards that are "worth it". If you can park in your driveway an RV makes a nice guest apartment. An RV is handy for a day at a local park, support vehicle for sports and hobby activities. Don't buy and extended warranty package, too many loopholes, put money aside for RV expenses. Good luck!!

[ron_dittmer]

I personally would be much more comfortable buying a used motor home from a senior private party than from anywhere else. Not just getting a better price, but also getting the real story on the rig's history.

As with any/every used vehicle to consider, run a Carfax on the VIN number before any final agreement. A tainted Carfax history is not necessarily a deal breaker. But you owe it to yourself to know what happened, and the resolve.

[Hank85713]

If you buy, look around to find best vlue, dont necessarily shop in your home area. Out here in AZ you can find a mix from all over. We looked at nice looking rig at a dealership, fram had surface rust, storage door locks were rusted turns out it was from up in canada someplace! BTW they still wanted big $$. But there are others just have to look. Another example was a very clean late model, AC didnt work right told guy to get checked out and call us. He called and said it was all good, then let slip he had gotten the unit from a bigger outfit so you know it woas going to take $$ to get right.

We ended up purchase froma private party. Had looked at same rig new and was looking at 6 figures, got this one 1 year old for 3/4 of price of new! SO look at big places in texas is one but also scan craigs list from different areas for price comparisons. Ask someone locally to check. There is a consignment place here, posted prices look OK not too expensive but depends on what ya want and want to pay.