Motorhome Purchase - New or Used? - Well Maintained or Not So Much?

Moving onto to the next phase prior to purchase

As we go forward with finding and purchasing an RV you should by now have identified the type and class RV that best fits your requirements. To get to this point you should have been searching dealers lots, dealer websites, manufacturers websites, RV Trader, Craigslist and others.

Assuming you have done your homework you should now know which class, make, model, year, mileage, and years that will fall within your target budget and specific needs.

For instance if you are buying a used unit and have $50,000 budgeted, you should know now that you are looking at motorhomes in the following categories (based on 2016 prices):

2001-2006  - Model Years
Diesel - 50K-150 miles (mileage won't as much of a deterrent on a diesel)
Gas - 50K to 65K miles (fewer miles will be a fresher engine)
Slides - 2-3
Older - tires
Older - batteries
Worn carpet
Dinette instead of table and chairs (not always)
Front TV, Bedroom TV (both likely older and clunky)
Coach equipment getting older - think pumps, faucets, microwave, refrigerator and movable parts

Should I consider paying more or less up front to insure I get what I want?

After deciding on a budget and knowing what you can expect to see in an older coach you need to make a final decision. Do I want to just load and go?  Or, do I mind renovating the inside of the coach?

Which is right for me?

The first consideration here is how handy are you? Can you rip out stuff without damaging the coaches wiring, plumbing, heating or sewage systems? Are you a Klutz?  Because if you are you might want to buy a coach that is ready to roll.

Should I Purchase a "read to roll" RV?

There are dealers like Johnson RV  (no I am not affiliated) that completely recondition coaches and replace things that need replacing prior to even listing them on their websites. You will of course pay for this convenience and reliability.

Should I Purchase an RV that potentially requires some systems updated?

If you have done your homework you should be able to inspect your prospective coach (less the engine mechanical systems) by visiting RV dealers and private sellers in your city, town or surrounding area and be confident with the condition of the coach.

Should I Purchase an RV that has a good body, chassis, engine and transmission but lacks TLC otherwise?

You found a 2005 coach that was lived in. It wasn't moved for several years and lived in an RV park. It hasn't been maintained properly because the owners were older and unable to do the work. You inspect it and find that the batteries are shot, the tires are dry rotted and way past their build date. The engine runs but could use filters, oil change, perhaps the manifold or another part of the engine has developed an oil or water leak due to age and lack of exercising the engine.

Should you buy it?  Well that depends. Can you buy it cheap? Will the outside clean up by removing oxidation and waxing?  How many tires need replacing? How about belts and hoses? You will need to find our how much the tires cost per unit.  You need to replace the batteries, how much will that cost? Maybe an A/C unit is on the fritz, how much will it cost to service or replace?

Again, if you are handy, resourceful, don't have a hard departure date and are determined to "make a silk purse out of a sows ear" for the price of a song, then this may be the route you want to go.

Before even making an offer on these type rigs run the amenities through NADA. Be careful to read the notes in NADA on that coach. In general you will learn what was standard equipment and that will give you a base price. Then add in the options that the coach had installed at the time of sale.

Now add in tires, engine work, replacement of flooring, repair of systems, and the total estimated cost of getting the coach back into the type of condition that will make it reliable on the road or in the RV park.

All of this should be done PRIOR to making an offer. If the coach is too valuable to the owner and they will not negotiate walk away and don't look back.

Should I purchase an RV that is ready to roll and go?

For me I want to load and go. Why? I am retired and don't want spend six months, gutting, upgrading and getting the coach ready to roll. I want to get on the road. Besides, I am older and some of the work I can no longer do.

Is there a universal answer to these questions?

You're kidding right?  No, absolute answer is available. Do your homework, figure out the cost of replacing and renovating as opposed to a well maintained coach at the time of purchase.

Good luck

Sorting Out Puzzle Pieces

Purchasing a Class A RV is an expensive proposition. Make sure that your credit is ready for the hit

As you have read in our other posts, there are many pieces to this puzzle. The biggest obstacles for most people is reducing debt load.  For instance paying off car loans or selling a car will reduce your debt load. Additionally paying down or paying off credit cards will also result in a reduced debt load.

For us we sort of get a "two for," because we just paid off my wife's car which will become our "toad" and my car is now up for sale because we simply won't need two cars when we hit the road.

Other potential problem areas for credit score problems is too many inquiries into your credit. Each inquiry can reduce your total credit score by as much as 100 pts. The moral of the story here is to not ask a potential debtor to run your credit until you are sure you are going to buy whatever it is you're interested in purchasing.

There are many resources online to help you figure out how best to reduce your debt load and raise your credit score. Find one that makes sense to you, read it, follow it and enjoy the results.

Charlie

Selling Your Stuff - Part 2

Please feel free to post comments and questions at the bottom of this post. 

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Where the heck to I begin?

As you begin to categorize the things you no long need you will have to make some decisions on how to get rid of them.  For us it's easier because for the last five years we have been paring down for the final purge.  However, when you think you are ready you may still have too much stuff. What to do with it?

Identify items that will be incorporated into your RV

The first step is to identify what you need for use in your RV. Do you need an electric frying pan, blender, toaster, specific electronics, warm weather clothing, rain gear, etc.? Keep the list for when you sort things for sale.

Identify items that you want to sell that are the more valuable items 

Make a list of what you know is good enough and valuable enough to sell and bring top dollar. Our list includes the following items.

42" Flat screen TV
Pots and pans
Glassware
Flatware
Dishes
Lots of storage type shelving
Work Bench
Weed eater
Unused tools
Art and portraits
Home style Propane Grill
Kitchen table and chairs
Water cooler
Extra Appliances

Items for storage, or not?

Consider your upcoming RV life. Will you be gone for six months, a year or forever.  Do you want to try the lifestyle and then make a decision whether it fits you permanently?  Do you want to eventually get off the road and go back to sticks and bricks?

The following are items that you will want to store if you aren't sure what your RV life will be like.

Bedroom and living room furniture
Keepsakes
Important papers that do not need to be on your RV
Garage items that could be useful if you go back to living in a house or condo
Organizing shelving
Book shelving
Office furniture
Important memorabilia
Extra clothing

How to sell these items

Consider the following ways of selling items

Ebay - Sell more valuable things here. Either use "Buy it Now" or place a reserve on the item (if it is valuable enough) and then auction it. Protect yourself and open a PayPal account.

What do you do about all of that extra clothing? 

Sell them or give them away

Craigslist - You can sell all sorts of stuff here. Beware of scammers, don't take checks, money orders or promises. Cash only and make the buyer pay the postage on large, heavy or bulky items.

Garage Sale - Sell your knick knacky stuff, outdated or ill fitting clothing, extra glassware, flatware and dishes. If you advertise it right you may do quite well. Expect to be bargained with. Expect the people that visit to be quite cheap and wanting things for pennies.

Give them away - Offer them to friends and family first.  If that isn't fruitful there are all kinds of community venues such as Good Will etc. This is a worthy cause and if you have a LOT of stuff you can ask them for a receipt so you can use it at tax time.

If you know of other venues to get rid of your stuff please leave a comment.

Plans To Sell Your Stuff -Part 1 - Radical Downsizing - The Conundrum

Please feel free to post comments and questions at the bottom of this post. 
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How do I make a plan to downsize when I don't know where to begin?

How on earth do you figure out how to sort, use, sell or give away stuff you've been lugging around for 25 years. We are good at ridding ourselves of "stuff," We've moved multiple times during our time together and as we move we tend to pare down more and more each time. However the task of finally purging our stuff seems overwhelming right now.

We've decided that now is the time to organize and categorize the stuff in our life for stowage and use on the Class A.

I never realized how attached I've become to some of the material things I own. So, starting early is a must for me. Not so much for Martha.

Our grand scheme to go on the road will be started as a sort of "sabbatical." We plan to give ourselves a year on the road and reevaluate whether the lifestyle suits us at the end.  Initially we will be storing our good furniture and other items.  At the end of the year, we will either sell it or lease another home and reuse it. Time will tell.

We've sort of loosely categorized things into groups and are still identifying what goes into each category.

Keep it with us
Some dishes, Flatware, linens, some glassware, spices, pots and pans, certain appliances, clothing, certain electronics
Throw it away
Broken stuff, unwanted memorabilia, unneeded paperwork, half or non-used toiletries
Sell it
out of style or non-fitting clothes, unneeded appliances, left over or mismatching glassware, flatware and dishes
Give it away
out of style or non-fitting clothes, left over or mismatching glassware, flatware and dishes, some furniture
Store it
Furniture, electronics, refrigerator, washer dryer

RV Loans - Are you Impatient To Move The Process Along? - Stay On A Steady But Sure Path Forward Toward Paying down Debt

                                         Please feel free to post comments and questions at the bottom of this post. 

To subscribe, see our favorite RV Vlogs or add +1 see the right sidebar

What should I do prior and until my RV Purchase? 

Personal finances, loans and other stuff to consider.

If you are like us and have decided to full time RV then you have a lot on your plate to consider. Yes, I am impatient but my wife puts things into perspective ever time I express my displeasure in waiting for a bit.

Consider your personal finances. I maybe know one or two couples that could purchase an RV outright for cash. I am certainly not one of them.  To that end my wife and I are proceeding in a logical progression of knocking down dominoes one by one.

How do you create a better credit score to insure you will get that loan?

Sometimes this is something that can be very hard to do. But consider this, lenders will give you better rates and longer terms with a better credit rating. It isn't just as simple as that rating. First you want to have 100% on time payments to any account you currently have. Next your debt ratio needs to be in the average to excellent range.

If your Debt ratio (credit used) is in the 60% range you are below average. If you want an excellent rating you want to keep your debt in the 30%-35% range.

What does this mean to me when getting an RV loan?

Lenders look at the following things on your credit rating:

On time payments
Your oldest credit line
Your percentage of credit used
Recent inquiries about your credit
New accounts recently activated
Your total available credit

In order to have the best available chance at getting a loan and getting a loan with a good interest rate is of course to pay down your debt.

Paying down debt in preparation for full time RV'ing

Consider your loans and your debt. Which of the loans you currently have can be paid down quickly?

Think about what you will take with you in an RV. What do you really need?  You need clothing, household items, linens, tools and electronics. Your RV will have appliances, entertainment systems, beds, furniture and places to store the things you will be taking along.

That leaves a lot of things you don't need. Do you have a loan for furniture? Pay it off.  How about a second car? Sell it. A revolving charge such as Paypal. Pay it off.

The idea is pay down your debt.

I hope this helps anyone that read this, and I hope you meet your goals so you can get on the road.