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Drake Tax Software

Saturday, March 19, 2011

How Frugal do I want to be...........

New/Used

I keep going back and forth.........trying to decide.  I won't buy a 2011 or 2012, but if I can get a good price on a new 2010, I just may do that.

The difference between the used models I'm looking at and a new 2010 is about $30,000.  What could I do with that money???  Have you ever read any of Warren Buffet's financial advice - he never buys a new car. He talks about the value of the money saved in future value. If I take the $30k and put it away and forget about it, what will it be worth in 10 years? 20 years?

I've already checked into some Alaska workamping jobs, and I want to drive to Alaska in 2012, so I need a dependable RV to do this. If I buy something that is 6 or 8 or 10 years old, how will it do on the Alaska Highway? 

And, what if I buy a lemon, and have to replace the used RV sooner, and how much will I spend on unknown repairs to the used RV? So, maybe I won't be able to put away the entire $30k and forget about it.

So, do I make my decison on what I want/need now, or do I think about the future? I can buy cheap, and get on the road sooner, (would not have to finance a cheap RV, would not have to wait for my house to sell). Will I have more breakdowns, leaks, problems. I like the idea of having a warranty on anything that may go wrong in the first year or two.

No one can predict the future, but we can do some planning.

So far, of the used RV's I have been inside, I have not been impressed with the insides of any of them, and many of them have rust in the compartments for the water and propane, so this has me leaning towards the 2010.  But, the frugal side of me says.....don't spend that extra money.

What to do?  What to do?  Wait a week or two, if the 2010 is still around then it was meant to be, if it's gone.... keep looking.

8 comments:

  1. If you buy new, will you be chained to squeezing service out of a particular dealership or chain, even when their customer care is inferior? What is the consensus about the model you're considering?

    It's entirely possible you'll find some combination of lightly-used and lightly-priced that you haven't seen yet.

    Would you travel (for example, to PPL) to look at a range of used RVs?

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  2. I love your questions, because I'm thinking the same things. The comments are of interest to me, too. I can't imagine buying new, the depreciation is too much, but a recent model year sounds like a good idea to me. The bugs have been worked out, hopefully any warranty work has been found and taken care of. Maybe a few things have even been added, like solar panels, etc. That is what I'm hoping to find. :)

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  3. Lightly used with good service records!

    Beware of low milage slightly older rigs. They might have been neglected and have dried seals and hoses.

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  4. Ya can find folks that bought new, slightly used, and used that either got a great RV or all it was were a problem. It's gonna be the same fer you. If'n dependablity is yer prime concern, then newer is likely to be better.

    Personally I'd take all that thinkin' ya been doin' on resale value and all and chuck it in the dead letter box. There's to many folks spent to much time a plannin' for the what might happens, that they never got to the doin's. Me and Nilda been a fulltimin' a long time now, and we knows people that were a gonna do it when we started that are still a gonna do it someday, which I figures ain't never gonna come.

    All the folks we meet that is still a fulltiming after four or five years has gots lots of things they'd a done different. Tell me you wouldn't have done some things different in the life yer a livin' now. Back to them long time fulltime folks, there is hardly a one of them that wouldn't done it earlier if they could, they says that were there biggest mistake, and all the rest were miner in comparison. Sorry fer the wordy long first post, but with you a askin' questions, I.M. just comes natural like to answer.
    Me and Nilda's blog

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  5. You Don't invest in an RV. They depreciate rapidly. It's a great buyers market right now. Get the lead out and think about current needs. Who knows about the future? There's never a guarantee something won't break, just like your house and current car. Buy Good Sam road care and carry a phone. After 14 years of full-timing I've lived in 7 different RVs, from cabover to current 5er, and every other kind in between. Ain't none of them perfect. But don't get me wrong, I like that you're asking questions and think your getting some good advice here.

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  6. so many decisions..we are in the same 'boat as you'!..new or used ..or lightly used!..too many decisions!!

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  7. I'll cast my vote for, 'slightly used.'

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  8. we bought a used 2007 and have no regrets (so far)

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Hi, I welcome your thoughts and comments.

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