RV Depreciation - How To Minimize It And Save Money
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- เผยแพร่เมื่อ 11 ก.ย. 2024
- Every time that an RV is bought or sold, depreciation affects its value. And over time, it lowers the value of that RV a lot. But what is RV depreciation anyway? And is there any way that you can manage it so that you lose as little of your money as possible? This video answers those questions and explains how you can minimize the losses that occur every time you buy or sell an RV.
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Thanks for video Big D!
My pleasure Hondo. Glad you enjoyed it!
Another great video Duane. We have an 06 Wanderlodge. The unit was in excellent condition with major updates prior to our purchase. When purchased it was13 years old and fully depreciated out. Wanderlodges are undervalued due to the demise of the company. Thankfully we have access to several online resources that are invaluable in diagnosing and understanding the systems. We are also fortunate to have several local shops near our home base that know Bluebird house systems and have several bus and truck service centers that can do the chassis service. I doubt that we will trade it in on another unit at our age. We enjoy going to campgrounds and having the only Bluebird in the park. Thanks again for your channel. It's one of my favorite RV shows on the tube.
That's a great RV you have there. And it sounds like you have a really good support system handy to keep it running well for many years too. And isn't it nice to have all of the depreciation costs behind you at this point? Thanks for your support of this channel and enjoy the popularity that comes to Wanderlodge owners!
🇨🇦 great point Duane. Depreciation is a real cost of operation and must be equated into your operational costs. 👍
I couldn't have said it better myself Greg. Thanks for sharing that point with us!
Great info Duane! Perfect timing! Thanks so much!
Hi Robert. Yes, I thought this subject might be helpful for you. Thanks for watching and commenting!
Good advice. I chose to buy a fully depreciated RV, letting the previous owner suffer the high depreciation. I bought a 1999 National Tropical Class A MH with 28k miles on it in 2018 (19yrs old) for only $15k. It was a one owner MH in great shape for its age, with impeccable, detailed maintenance and upgrade records that I got it for less than 15% of what it sold for new. One advantage of buying used is it typically has had all the bugs worked out over the years. We went FT in it in 2019 and have been loving it ever since. My first major expense was this year, when we replaced its 8 tires that simply aged out (not counting the solar system and lithium battery upgrade that I did myself, as we're avid boondockers.) It has only been in the repair shop twice. Once for a missed recall that Ford fixed for free and the other for a routine engine and transmission oil and filter change and drive train inspection by an RV tech. I normally do all the minor maintenance and repairs myself. Buying his coach was the best decision I've ever made. It's so nice being debt free when you're retired and living off of social security and a small pension.
Thanks for watching the video Chip. I appreciate you sharing your experience on choosing an older motorhome as well. Hopefully that will be helpful for others who read through the comments here.
I Just cant justify buying a new RV for something I will be using part time. I have a 2004 32' bounder that has been updated. I am looking to purchased a 25'er. great info. Thanks Don
That's a great point Don. There are pros and cons to buying either new or used. And when you buy a coach from that time period, the good news is that depreciation is much less from year to year. And if it has been cared for well, it may even increase in value in the eyes of some buyers. I have a 2004 Newmar Kountry Star, and it's value has held pretty steady for the past 4 years of ownership. I love that!
Solid information as always. A possible issue that we face as sellers or buyers is whether or not an updated unit has greater value than those which aren't or does it just become more attractive to a buyer. I would argue the latter, just a thought. Bill
That's a good point Bill. That's why it's best to make sure that any updates are not just made with your own taste and preferences in mind. It's best to consider what might appeal to the vast majority of RV buyers before making the update. Then it truly does become an asset rather than a liability. Thanks for bringing that up!
All good points, Duane. Question: do you think the depreciation will be greater for those RVs manufactured during the Covid years as a result of quality concerns?
That's a great question Robert. I can't say for sure, but the reputation of new RVs made during Covid is pretty bad right now. So I wouldn't be surprised if that outlook isn't reflected to some degree in the resale price, at least in the minds of some buyers anyway. We'll see!
Thanks, Duane. Cajun
Glad you enjoyed it Cajun. Thanks for watching!
Duane you had me concerned in the beginning of your video. We are going to use our Super Star for seven to ten years so it will be new from the get go! Inspection and repair before delivery. Away we go! SAFE TRAVELS
Sounds like you have a great plan there Ron. I can't wait to see you in that shiny new Super Star! :-)
"Value" can be looked at strictly from a monetary perspective but value can present in other ways. Depreciation is most important only if you are looking to sell or trade. If you are acquiring legitimate use from an item then your benefit of use might be greater than it's 'sale-able' value.
Good point! Thanks for sharing that with us!
Better interest rates on a new rv!
That's a good point Hank. Another reason why many people choose buying a new RV. Thanks for commenting!
Off topic but my wife and I are looking at buying a used Newmar Dutch Star or Mountain Aire diesel pusher. They were built in the early 2000’s and have the TPO roofs. Would you stay away from those coaches? I would have an inspection done by a qualified inspector.
Just the opposite Chris. The years between 2000 - 2007 was a golden age for Class A diesel pushers in my opinion. And Newmar would be right at the top of the list. That's why I own a 2004 Newmar Kountry Star DP. We love it because it is so well built in every way. Much better than many of the newer offerings these days. But I would never buy an older rig like that without an inspection by a certified RV inspector. And I would highly encourage you to also get a fluid analysis done of the engine oil and coolant, the transmission fluid, and the generator oil and coolant to be sure that there aren't any lurking problems in those mechanical components too. I hope that helps.
Buy that new RV for "social status". Yea, I know people who do that, but they can afford it. No matter what you buy, have it inspected by a certified RV inspector.
Right on Roy! Thanks for watching and commenting!