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 > 5th Wheel values Dropping fast

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SpurHntr

Northeast PA

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Posted: 06/12/12 03:49pm Link  |  Print  |  Notify Moderator

I too am taking a great loss on the sale of my fifth wheel.
Craigslist, no bites.
Rvtrader, no bites.
eBay, twice, no bids.
Bought it 1.5 years ago...lost 10k.
Buyer IMO getting a great deal...
Crazy times...


'08 Newmar Kountry Star 3916, 400ISL Cummins
'11 Jeep Wrangler Unlimited Sahara
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bstark

Ontario, Canada

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Posted: 06/12/12 04:03pm Link  |  Print  |  Notify Moderator

Not going to be a popular post but what the hell did you all expect? Economy tanks, fuel prices skyrocket, numbers who can, or are even willing to, take gold plated equity from their house and "mortgage" an RV drop into the basement.

Everyone simply woke up to the reality that using solid-gold real estate equity to borrow against and buy a piece of depreciating******was reckless and idiotic.

The rest who can afford a decent down payment or an outright cash payment for entire RV simply decided there might be a better place to put that money with what's coming down the road ahead.

In short: if you have to finance one; I'd wait till the economy settles and you know where you stand. Necessities by definition excludes items of frivolity (RV)so hybernate for a couple of years until you know for sure what the crash of the European Union and the resultant dominoe effect means to you as an individual before signing any deal on a piece-of-crap toy.


Today is just the tomorrow you worried about yesterday!

Pete_k

Stantonville Tn

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Posted: 06/12/12 06:26pm Link  |  Print  |  Notify Moderator

But sure is a good time to buy, We bought a 2012 (used 2 trips) Heartland landmark Key largo loaded with Full Body paint at a price that made us wonder if it was 2 good to be true at first.

Plus sold our Truck camper easy for a good price. Plus had so many calling trying to buy the Truck camper it was unreal.


2005 Chevy Kodiak c5500 Cummins 5.9/Allison Trans
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2008 Lund 1825 Pro Guide Tiller, With a Evinrude 90 HP E-Tec
Live near Pickwick Dam and the Tn river

SpurHntr

Northeast PA

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Posted: 06/12/12 04:22pm Link  |  Print  |  Notify Moderator

bstark wrote:

Not going to be a popular post but what the hell did you all expect? Economy tanks, fuel prices skyrocket, numbers who can, or are even willing to, take gold plated equity from their house and "mortgage" an RV drop into the basement.

Everyone simply woke up to the reality that using solid-gold real estate equity to borrow against and buy a piece of depreciating******was reckless and idiotic.

The rest who can afford a decent down payment or an outright cash payment for entire RV simply decided there might be a better place to put that money with what's coming down the road ahead.

In short: if you have to finance one; I'd wait till the economy settles and you know where you stand. Necessities by definition excludes items of frivolity (RV)so hybernate for a couple of years until you know for sure what the crash of the European Union and the resultant dominoe effect means to you as an individual before signing any deal on a piece-of-crap toy.


Actually, I think you're spot on. I was just supporting the op's stance with my recent experience.
If dw & I can't cut a check for it we don't buy it.
Credit is our country's cancer IMHO.

Billieg2

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Posted: 06/12/12 06:56pm Link  |  Print  |  Notify Moderator

I think everything is going to drop. I have an employment testing system to hire good employees. After the fall of 2008 our average daily run reports went down 62%. Today they are down 84%. That means no one is hiring. No one believes the economy is getting better. That means a lot of people are out of work and companies are in dire straights.

I don't see it getting any better soon. I just bought a $53,000 5th toy hauler for $32,000 and probably paid too much. It's sad for those trying to sell. Until someone can create business incentives instead of taking them away we will continue to see cost of living go up and our personal property values go down. We are in sad times.


In my life I've spent my money on women, booze, Harleys, guitars and traveling, the rest I just wasted...

2007 Ford F-350 diesel/dually & Sunnybrook Titan KSRV 39-1 Toy hauler 5th wheel hauling my custom Harley


Artemus Gordon

Redding California

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Posted: 06/12/12 05:16pm Link  |  Print  |  Notify Moderator

Not sure where OP got his facts. I don't see the negative effects on equity, being much different now, from 8 or 9 years ago, before the worst recession in modern times. What I do see are are lots of people being "negative or unhappy" for no real reason and it fueling fears. I sold my 2010 TT for nearly what I paid for it. My new RV was purchased at a great price and plan to get out in two years with little or no steep depreciation. I conceed, several popular RV companies and makers of FW went out of business recently. Those brands that have not been obsorbed by bigger companies will sell used for substantially less. Orphans will always sell for less, and might appear to lower overall values. I frankly feel $1.00 or more a gallon is not grinding things to a stand still, I do think negative statements unsupported don't help at all. I think our kids will be fine, just like my generation was fine, when our parents had doubts.

Pete_k

Stantonville Tn

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Posted: 06/12/12 07:38pm Link  |  Print  |  Notify Moderator

Gas Hawg wrote:

Snow_King wrote:

Just a fact of the times we are in. The next generation will not have the income to purchase such items. We will have to start exporting them to china.


I too have thought we should start exporting the next generation to China!!!


X2000000000000000000000000000000000000

Gas Hawg

NW Ohio

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Posted: 06/12/12 07:37pm Link  |  Print  |  Notify Moderator

Snow_King wrote:

Just a fact of the times we are in. The next generation will not have the income to purchase such items. We will have to start exporting them to china.


I too have thought we should start exporting the next generation to China!!!


2003 GMC Sierra 2500HD CC/LB 2WD 8.1L
2006 Laredo 26BH



tomthyme

Flower Mound, TX

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Posted: 06/12/12 08:03pm Link  |  Print  |  Notify Moderator

I agree with the economic condition comments, but I think I missed the article that promised economic security in the rv lifestyle.....just sayin.....

Artemus Gordon

Redding California

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Posted: 06/12/12 07:02pm Link  |  Print  |  Notify Moderator

Pete_k wrote:

But sure is a good time to buy, We bought a 2012 (used 2 trips) Heartland landmark Key largo loaded with Full Body paint at a price that made us wonder if it was 2 good to be true at first.

Plus sold our Truck camper easy for a good price. Plus had so many calling trying to buy the Truck camper it was unreal.


X2

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