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Old 10-26-2015, 02:26 PM   #11
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I see a lot of people around here advertising Motorhomes for a long time trying to sell. If you sell yourself I would plan on holding it for a long time. IMHO. Good Luck!
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Old 10-26-2015, 07:08 PM   #12
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Try this

Take 20% off what you paid for your coach as your trade in value. Look online for the sales price of the new Berkshire from one of the big discounters and add $10,000. The difference between the two should get you into your new coach. This should be a worst case deal. You may get even better if the dealer is getting factory incentive money from GT. Listen to their first offer and compare to what I just suggested. Be prepared to walk out and say you will look around elsewhere. Don't be surprised if the dealer calls you in a couple days with a better deal. This approach has worked for me several times. Good luck. They should be eager to make a sale on the Berkshire! Bigger price means more profit for them. And a low mileage trade in should be an easy sale for them at a 10 to 15% discount from new.
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Old 10-26-2015, 08:50 PM   #13
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It's going to hurt

Don't forget to check your states taxes. You will have to pay tax on the entire purchase price of the new motorhome if you sell your current one on your own. If you trade, you might only have to pay tax on the difference. That $90,000 trade-in value might actually be closer to $94,000+ when you factor in tax.


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Old 10-27-2015, 01:52 AM   #14
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Thank you all for the great and well thought advice.

Here is the breakdown from the pending deal.

I didn't mention the trade until later. They are offering the Berkshire 40xl with upgraded 380h motor for $201000 after some serious back and forth. After the trade, they have offered $85k for the trade. Now, they will take the difference and roll it into my loan at 3.99% which will let me keep more cash in the bank.

What do you all think about the price of the Berkshire? What about the trade which I think they are making up for on the deep discount I got them down to?

Would love the feedback? We are about 80% go!!!!


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Old 10-31-2015, 09:20 PM   #15
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Another questions to ask is how much are you having to put down on the new Berk? If they are just taking the difference and rolling it into the loan with no money down then sounds like a win, if that's what your happy with..
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Old 11-01-2015, 10:34 AM   #16
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Quote:
Originally Posted by ramair View Post
Another questions to ask is how much are you having to put down on the new Berk? If they are just taking the difference and rolling it into the loan with no money down then sounds like a win, if that's what your happy with..

Yes they are not asking to cover any of the loss in cash and rolling it into the loan, which another dealer told me is illegal? By the way this dealer did not offer this program or MH.


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Old 11-02-2015, 04:56 PM   #17
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Sounds like you need to discuss numbers with a CPA .The reason I suggest that is 2 fold:
Added sales tax differences based upon reported sales price and potential negative equity.
Sounds like confusion on just what the real monetary breakdown is. IF you ROLL that tax or any present negative equity into your NEW loan,
you need to get a grasp on just how much you can deduct from state and federal income taxes each year. Also that CPA can project on a linear equation, based upon all factors; loan interest by term, applied net payment to the loan balance monthly and how long it will be before you reach the axis of having and gaining EQUITY in the new Berkshire.
Better to spend $100 now and understand your loan versus having to divest savings later to pay the unit off ( balance versus market value) when the desire or need to sell or trade again arises.
This is a major purchase snd deserves a step back look. Remember these are DEPRECIATING ASSETS.
A new purchase today is not as exciting 8 years down the road.
Negative equity is not illegal. Usurious interest rates would be, however, we are in a favorable rate environment so all should be good there.
My comments are NOT to discourage you but to implore you to understand the numbers. Make an INFORMED decision.
Just FYI; I am a retired sales finance banking exec who specialized in auto; rv and boat financing for 37 years. If you need DIRECTION, NOT A SOLUTION, PM me. I am OUT OF THE GAME except for my own purchases. Retired 8 years!
Finally bear in mind; NEVER sign as an uninformed buyer. The bite to your wallet will feel like a shark attack!!
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Old 11-05-2015, 10:06 PM   #18
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Update: We decided not to move forward with the trade and send the college instead😁. We have decided to spend only about $3k and improve or Georgetown. We take out mh in tomorrow to the dealer for the following upgrades.

- Front and rear sway bars by road master
- steering wheel stabilizer

My wife and I really hope it helps with the overall ride of the coach. She says it rocks way too much in the back when I'm driving.




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Old 11-06-2015, 06:36 AM   #19
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Thanks for the update. Sorry to hear things didn't work out, but to be honest, it sounds like you did your homework and made an informed decision. So, in that regards, congrats.
Enjoy your GT... I'm sure in a few months you'll realize you already have everything you need. 😀


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Old 11-06-2015, 06:54 AM   #20
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There are only two or three antidotes to "2-foot-itis"
- a depleted bank account,
- buying the biggest rig first, and
- finding contentment in what you have.

There's something to be said for the often lost art of being content. Something I struggle with too. Congrats for exercising your contentment "muscle".

As said above, congratulations on your decision and safe travels.

Brian
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