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Buy now or wait?
#14392865
06/13/22 08:46 PM
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Joined: Nov 2003
Posts: 6,774
Holzer
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OP
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All this talk about the market, recession, interest rates, etc. I'm not sure how what to anticipate how that will affect cost of things in the near future.
I'm looking to buy a 5th wheel RV. Am I better off buying as soon as I can because things are about to hit the fan and prices will soar or wait because when this economy takes a dump, prices will plunge? I need some economics 101 thrown at me.
I don't mind buying used but I probably will not go older than a 2018 - 2019. For what I want, I could pay cash in full, but if interest rates are really low, I don't mind financing some of the cost just to keep some money free.
Holzer My pic is gone
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Re: Buy now or wait?
[Re: Holzer]
#14392869
06/13/22 08:49 PM
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Joined: Jan 2010
Posts: 632
OkAce
Pro Angler
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Pro Angler
Joined: Jan 2010
Posts: 632 |
I'd probably wait if I had cash. Gonna be a bunch for sale before long. Already several popping up for sale around here.
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Re: Buy now or wait?
[Re: Holzer]
#14392870
06/13/22 08:50 PM
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Joined: Jul 2006
Posts: 49,425
RATZ
Activity Coordinator
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Activity Coordinator
Joined: Jul 2006
Posts: 49,425 |
well, interest rates are going to go up maybe next week. Some folks are saying the FED might raise it a full 1%. If you can pay cash then go for it. Do you think you'll use it enough to be worth the $40,000+ it will cost or would you be better off just renting one when you need it? I like to camp and all, but don't go anywhere close enough to buy a RV. You can rent one for like $200 a day.
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Re: Buy now or wait?
[Re: Holzer]
#14392876
06/13/22 08:54 PM
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Joined: Mar 2003
Posts: 10,733
Fishin' Nut
TFF Guru
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TFF Guru
Joined: Mar 2003
Posts: 10,733 |
With gas prices going up, I would definitely wait. I remember when the auto makers couldn't give their gas guzzlers away when gas prices soared after Katrina.
He is truly a sick individual.
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Re: Buy now or wait?
[Re: RATZ]
#14392877
06/13/22 08:57 PM
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Joined: Nov 2003
Posts: 6,774
Holzer
OP
TFF Celebrity
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OP
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Joined: Nov 2003
Posts: 6,774 |
well, interest rates are going to go up maybe next week. Some folks are saying the FED might raise it a full 1%. If you can pay cash then go for it. Do you think you'll use it enough to be worth the $40,000+ it will cost or would you be better off just renting one when you need it? I like to camp and all, but don't go anywhere close enough to buy a RV. You can rent one for like $200 a day. I got 2 kids and both play travel baseball and softball. I was looking at my calendar today and the last weekend we didn't have a tournament somewhere was Easter weekend. When we travel, hotels are averaging $200 a night and that's not including the tax. Then food, etc. So I do think we would use the trailer. I anticipate some slow months with this ball travel. But maybe then we could actually do a camping trip of some sort. So if interest rates increase, do you think sellers will decrease the price? This is the kind of stuff that I'm just not strong at. I need some savvy thrown my way to help me understand when what goes up it will help to make what go down.
Holzer My pic is gone
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Re: Buy now or wait?
[Re: Fishin' Nut]
#14392878
06/13/22 08:59 PM
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Joined: Nov 2003
Posts: 6,774
Holzer
OP
TFF Celebrity
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OP
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Joined: Nov 2003
Posts: 6,774 |
With gas prices going up, I would definitely wait. I remember when the auto makers couldn't give their gas guzzlers away when gas prices soared after Katrina. But if people are going to have a tougher time affording a house due to interest rates, do you think the trailer industry is going to have a bigger boom than it already has? I don't know if the travel trailer industry will use that as an excuse to increase price.
Holzer My pic is gone
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Re: Buy now or wait?
[Re: Holzer]
#14392880
06/13/22 09:00 PM
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Joined: Jul 2006
Posts: 49,425
RATZ
Activity Coordinator
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Activity Coordinator
Joined: Jul 2006
Posts: 49,425 |
well, interest rates are going to go up maybe next week. Some folks are saying the FED might raise it a full 1%. If you can pay cash then go for it. Do you think you'll use it enough to be worth the $40,000+ it will cost or would you be better off just renting one when you need it? I like to camp and all, but don't go anywhere close enough to buy a RV. You can rent one for like $200 a day. I got 2 kids and both play travel baseball and softball. I was looking at my calendar today and the last weekend we didn't have a tournament somewhere was Easter weekend. When we travel, hotels are averaging $200 a night and that's not including the tax. Then food, etc. So I do think we would use the trailer. I anticipate some slow months with this ball travel. But maybe then we could actually do a camping trip of some sort. So if interest rates increase, do you think sellers will decrease the price? This is the kind of stuff that I'm just not strong at. I need some savvy thrown my way to help me understand when what goes up it will help to make what go down. Have you ever used Priceline or hotels.com? You can get hotels for way under $200/nt, unless you have to stay at the hilton or Marriott. Can you stay in a dump like a courtyard or fairfield? Seriously those are fine places to stay a night.
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Re: Buy now or wait?
[Re: Holzer]
#14392881
06/13/22 09:01 PM
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Joined: Nov 2003
Posts: 6,774
Holzer
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TFF Celebrity
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OP
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Joined: Nov 2003
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Trailers I've been looking at are I'd say 50k +. I just really want to be sure I'm making the most of it and a good decision before I drop that kind of coin.
Holzer My pic is gone
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Re: Buy now or wait?
[Re: RATZ]
#14392890
06/13/22 09:05 PM
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Joined: Nov 2003
Posts: 6,774
Holzer
OP
TFF Celebrity
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OP
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Joined: Nov 2003
Posts: 6,774 |
well, interest rates are going to go up maybe next week. Some folks are saying the FED might raise it a full 1%. If you can pay cash then go for it. Do you think you'll use it enough to be worth the $40,000+ it will cost or would you be better off just renting one when you need it? I like to camp and all, but don't go anywhere close enough to buy a RV. You can rent one for like $200 a day. I got 2 kids and both play travel baseball and softball. I was looking at my calendar today and the last weekend we didn't have a tournament somewhere was Easter weekend. When we travel, hotels are averaging $200 a night and that's not including the tax. Then food, etc. So I do think we would use the trailer. I anticipate some slow months with this ball travel. But maybe then we could actually do a camping trip of some sort. So if interest rates increase, do you think sellers will decrease the price? This is the kind of stuff that I'm just not strong at. I need some savvy thrown my way to help me understand when what goes up it will help to make what go down. Have you ever used Priceline or hotels.com? You can get hotels for way under $200/nt, unless you have to stay at the hilton or Marriott. Can you stay in a dump like a courtyard or fairfield? Seriously those are fine places to stay a night. The places we stay at are Holiday Inn, Fairfield Inn or Comfort Inn Suites. I think it was in Tomball a month or so ago that even the BestWestern was $200 a night. And yes, we've used some of those 3rd party websites to book.
Holzer My pic is gone
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Re: Buy now or wait?
[Re: Holzer]
#14392900
06/13/22 09:12 PM
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Joined: Apr 2004
Posts: 14,087
Stump jumper
TFF Guru
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TFF Guru
Joined: Apr 2004
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Plan on burning a lot of gas towing a big 5th wheeler. I think with these gas prices people will be selling their TTs.
2200 Bay Champ/200 Mercury Optimax 2017 Tundra TSS 4x4 Crewmax 5.7L
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Re: Buy now or wait?
[Re: Holzer]
#14392907
06/13/22 09:15 PM
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Joined: Dec 2012
Posts: 22,546
lconn4
TFF Guru
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TFF Guru
Joined: Dec 2012
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Good deals pop up in good times and bad times... keep looking and become familiar with pricing of what you're looking for.. then pounce when one comes up.
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Re: Buy now or wait?
[Re: Stump jumper]
#14392915
06/13/22 09:22 PM
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Joined: Nov 2003
Posts: 6,774
Holzer
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Plan on burning a lot of gas towing a big 5th wheeler. I think with these gas prices people will be selling their TTs. This is the same thing my dad says. Like I say to him, I'm going to bet that even though I use more fuel, there will still be some cost savings in the fact that I can swap $200/night for $40/night and swap $60 restaurant meals for grocery store cost and preparing my self. But I could be wrong....
Holzer My pic is gone
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Re: Buy now or wait?
[Re: Holzer]
#14392926
06/13/22 09:29 PM
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Joined: Nov 2003
Posts: 6,774
Holzer
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TFF Celebrity
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And for those of you who don't eat out much, that $60 restaurant bill isn't a steak dinner. Chicken Express 7 piece combo meal with the large upgrade to get a larger drink and side is just under $15. With a family of 4 and someone giving up a tender or two for the dog, it doesn't take much to drop almost $60 at a Chicken Express. The same goes for Wataburger. Subway is a little cheaper but I hate their bread. The kids love that place and I don't know why.
Holzer My pic is gone
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Re: Buy now or wait?
[Re: Holzer]
#14392935
06/13/22 09:33 PM
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Joined: Nov 2008
Posts: 2,986
bigrebar
Extreme Angler
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Extreme Angler
Joined: Nov 2008
Posts: 2,986 |
Are these one night trips?
Used to be able to pick up gas powered RV's fairly cheap, not sure anymore these days. But those types of RV's make great one night Boon Dock machines. Yes the gas mileage sucks, yes you'd have gas spent for the generator, but you would skip out on the RV site nightly rental rates, cause those will add up as well. Camp out at the local Walmart, completely sell contained.
I just looked around Tomball, where you said one tournament was held, the nightly rates on 4 of the nearest RV parks I found was $47 to $69 a night. Don't forget to calculate that in your budget.
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Re: Buy now or wait?
[Re: Holzer]
#14392936
06/13/22 09:35 PM
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Joined: Dec 2008
Posts: 16,190
grout-scout
TFF Guru
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TFF Guru
Joined: Dec 2008
Posts: 16,190 |
The CONS: Diesel cost pulling the trailer while getting 6-7mpg. Pulling the trailer across texas and having an extra 4 tires that can blow out. How much are RV spots per day and are they convenient to get too and from. Idiot drivers cutting you off and more risk of wrecks. Constant hooking and unhooking the trailer & setup, PITA…Tiny shower and toilet.
Pros: everything is with you and should not get left at home. Maybe save money on food, unless you eat out anyways. You have your own beds without the risk of bedbugs.
The prices will not go up, they will only come down with the prices being ridiculous right now. The economy will not be recovering soon. Realistically, after spending $60k on a trailer and fuel, you won’t be saving any money. But you’ll have the consistency of having a familiar place to stay. I was looking at them, my turn off was how much RV spots were to rent, it was almost ridiculous.
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