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wanderingaimlessly

SOBOVA

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Joined: 08/23/2017

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Posted: 04/13/20 12:51pm Link  |  Quote  |  Print  |  Notify Moderator

This is basically for any who were active in purchasing units back in 08 and 09.
When the economy took the hit then, many folks incomes crashed, several manufacturers were lost to shutdowns or consolidation, and overall sales numbers dropped.
If we see a similar dropoff in new sales after this economic hit, can anyone remember anything as far as price drops in used units?
Did the bottom fall out on them, or did the used market bear up better?
I was camping then but didn't deal with any new purchases then.

Mr.Mark

Out West and Mid South

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Posted: 04/17/20 07:42am Link  |  Quote  |  Print  |  Notify Moderator

I remember the crash vividly. Strangely, when we ordered the '08 Dynasty in January of '07, I took the money out of an investment not realizing the bubble was about ready to pop.

In a sense, the Dynasty was almost free. I took the money out of the investment when it was high, then it fell 50%. So as an example, if there was $10 in the investment, I took out $4 which left me with $6.

If I had waited, the $10 investment would have fallen to $5 and the new RV would still be about the same to buy new at $4 leaving me $1 in the investment. The new unit may have been a little cheaper but the investment tanked as did most all investments. So, I'm glad we bought when the investments were high as we got the Dynasty almost free! LOL!

I don't think the used units had any advantage. The market was saturated with new and used as people wanted to get out from under the payments (if financed) or just wanted to get out as fuel was very expensive at that time.

I remember in '08 while we were traveling diesel fuel was $4.99 a gallon. We had taken a trip up around Lake Superior into Canada where fuel was $5.25 a gallon. We were able to enter Canada from Minnesota and then re-entering the USA in Michigan. We were able to make the whole trip without refueling in Canada and I refueled in Michigan at $4.99 a gallon. Our 150 gallon fuel tank sure came in handy then!

Safe Quarantine!
MM.


Mr.Mark

2015 Prevost Liberty Coach, 45 ft, 500 hp Volvo w/1,750 lb. ft. of torque, 1.5 baths, 4 slides.
2017 Lincoln MKX AWD V6 335 hp twin turbo.

cross21114

Baltimore, MD, USA

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Joined: 10/14/2003

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Posted: 04/17/20 08:56am Link  |  Quote  |  Print  |  Notify Moderator

Mr.Mark wrote:

I remember the crash vividly. Strangely, when we ordered the '08 Dynasty in January of '07, I took the money out of an investment not realizing the bubble was about ready to pop.

In a sense, the Dynasty was almost free. I took the money out of the investment when it was high, then it fell 50%. So as an example, if there was $10 in the investment, I took out $4 which left me with $6.

If I had waited, the $10 investment would have fallen to $5 and the new RV would still be about the same to buy new at $4 leaving me $1 in the investment. The new unit may have been a little cheaper but the investment tanked as did most all investments. So, I'm glad we bought when the investments were high as we got the Dynasty almost free! LOL!

I don't think the used units had any advantage. The market was saturated with new and used as people wanted to get out from under the payments (if financed) or just wanted to get out as fuel was very expensive at that time.

I remember in '08 while we were traveling diesel fuel was $4.99 a gallon. We had taken a trip up around Lake Superior into Canada where fuel was $5.25 a gallon. We were able to enter Canada from Minnesota and then re-entering the USA in Michigan. We were able to make the whole trip without refueling in Canada and I refueled in Michigan at $4.99 a gallon. Our 150 gallon fuel tank sure came in handy then!

Safe Quarantine!
MM.


I used the same thinking when I paid off a legacy pledge early in January. Had a stock with a lot of gains and it was at it's high so decided there were several investment reasons to do this before my estate would have to do it. Maybe this stock will make it back to the high but might be years. Saved a lot of shares.


Chris
2018 Nexus Ghost 36DS
360 Cummins, 3000 Allison
2016 Ford Expedition


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