The Best Way to Buy an RV

[oscarp77]

2% is not even beating inflation. Your basically paying the banks to store your money. to answer the original thread, buy used and cash if possible or get a low interest loan and still buy used. There are a ton of used rigs out there from families that thought they were going to use them a lot and only took them out a few times. I would only go for a few years old unless your really handy.

[andrewat]

Depending on any fees to originate the loan, I promise you will get a better price if you finance the deal through the dealer. They get paid by the finance company to originate the loan and will almost always be willing to give a better price if you finance with them (just like a car dealer).

Cash is always easiest for sure. But, if you're up for it, I would get the best price possible with financing and then immediately pay the camper off with cash. Best of both worlds.

[wags999]

Originally Posted by andrewat

Depending on any fees to originate the loan, I promise you will get a better price if you finance the deal through the dealer. They get paid by the finance company to originate the loan and will almost always be willing to give a better price if you finance with them (just like a car dealer).

Cash is always easiest for sure. But, if you're up for it, I would get the best price possible with financing and then immediately pay the camper off with cash. Best of both worlds.

Read the fine print so your not charged an early termination fee.

[Crabman]

Buying used is great IF you can find the brand, floorplan, colors, furnishings, equipment, CCC, etc that you need and want. And IF it was properly cared for by the PO. And IF they are not so underwater on their loan that they may have to get near new price to pay their loan. So price is important. For me when shopping used it was near impossible to meet all the above requirements.

[oscarp77]

Originally Posted by Crabman

Buying used is great IF you can find the brand, floorplan, colors, furnishings, equipment, CCC, etc that you need and want. And IF it was properly cared for by the PO. And IF they are not so I underwater on their loan that they may have to get near new price to pay their loan. So price is important. For me when shopping used it was near impossible to meet all the above requirements when shopping used.

True. The way to circumvent that is to not be so picky and have a long time frame to purchase as well as be willing to travel a bit to purchase. Used is still the way to go, unless you have exact requirements and know you are going to own for a while.

[clubhouse]

2-4 years used, private party and cash.

When looking at the RV, check out the owners car, house, yard anything else that requires “care”. It’s a strong indication of how they cared for the RV.

[hboy]

Originally Posted by FeatherFam

Given the rapid and severe depreciation of all RVs, what are your thoughts on the best way to buy an RV?

If you have the Money to pay cash, should it be paid for in full at delivery?

Is it better to keep your money in savings earning interest and put a large amount down (50%?) and finance part of it at a low interest rate and then sell it a few years later while you can still get a decent rate of return on it? Or is it best to keep it until it is paid off?

Are your thoughts different for different types of RVs (TT, Fiver, MH . . .)?

In my opinion, pay the cash. I believe RV's are a lousy money investment. In my experience the best way to loose your money is to buy a new RV. The next best way is to make payments on a new RV. If you have the means, do whatever fits your budget and can still sleep well at night.

I think the best way to own an RV for the least damage to the savings account is to buy used. I don't try to benefit from someone else bad situation, but folks buy RV's all the time who end up over their head or have a change in lifestyle and they must sell. Often times at a huge discount from what they paid new.

If you have a business use for the RV, then you can take some depreciation; however, but there are some tax liabilities when you sell it.

If I was in it for the short term I would rent and RV, not buy one. Taxes, insurance, storage (if applicable), maintenance....

[koko]

If you're buying new, buy at the end of the model year. Be sure you have a couple of choices of dealers so that you can negotiate price between them (kind of a bidding-down war). With new, it's nice to have a 2-year warranty.

[wags999]

We touched on this before, but today the interest rates on a 6 month T bill is over 2% and 2 year is at 2.5% . Rates are getting back to "normal" after a decade of the government mandating zero or almost interest rates. Good News for savers.