Why can we all afford trailers?

[blueline38]

I am 34 and my wife is 35. She has been at the same job for 13 years and I have been a police officer for almost ten. We purchased a house built in 1890 and have been slowly remodling it. Our truck, jeep and camper payments triple our mortgage and the value of all far exceed that of the house but we don't spend much time at home. We try to camp as much as possible, spend time volunteering for the local fire department or just spend time doing things with out ten year old daughter. I want my daughter to enjoy her childhood before it's gone. Luckily, my job is pretty stable, and pays decent!

[Taylorgso]

Who said we could afford them?
SWMBO and I financed every RV we bought (except the last one), from popups to towables, and 3 MHs. We did it by NOT eating out, NOT buying our children an automobile when they turned 16, by NOT buying clothes in swank clothing stores, by doing all our own yard work and laundry and home maintenance, by growing much of our own food in our own garden, etc., etc., etc.

Now in retirement, we're able to enjoy a lifestyle many others would envy (if they could understand it)... and debt free.

[campnqueen]

I am spending my step kids inheritance! No really... I worked for it... and its MY retirement money... so I am spending it and enjoying it.

My poor old dad for years talked about traveling and going to Alaska but was so afraid to spend the money. He wanted to make sure I had money. (nice thought, but my mother spent it on lottery tickets.)

NEWFLASH!! You cant take it with you!
So I am enjoying it. You should too!!
Life is ttoooooo short to have regrets.

[campnqueen]

I case I haven't told y'all.... I love you guys!!

[Rstrahan]

Worked hard, now disabled. Wife still runs her own small business, but no equity in it. We have the house and a rent house, that we are about to sell. Don't need renter headaches any more. Bought RV used, tow vehicle used. Don't drive a fancy car, save, save, save. Figure we can have everything paid off in 5 years, but are still traveling. Like others, my parents put off traveling till they could afford it. Never did. So we travel while we can. Time enough for sitting around when we can't travel anymore.

[Papicamper]

I've pissed away enough money to buy Miami...sorry JImmy...and am waiting for my first SS check to be deposited in about a week but you won't hear me use the "R" word for a long time. Hey, I might be working PT in your town soon while having sold the house...and mortgage...and living where we want when we want and loving it! Bless America where I'm a veteran...albeit short timer then...and l also worked my butt so I believe I earned my 5th wheel...and the payment for now! Amen...case closed!

[BigBaron]

Bill, that sounds like fun!

[Stg1]

Originally Posted by Wiscampsin

Actually the U.S. government has a secret entitlement program that pays for the campers so we don't have to.

Yea, we're like that. It's called Social Security and our pensions. Worked hard but couldn't save much. Retired about 5 yrs now. We live month to month and budget well. Just purchased our 3rd TT. Only did that because we have a great credit union and got a good deal on the TT. Drive a 7 yr old truck and home is about paid for (about 4 more yrs). We enjoy camping and go when we can

[Scratch]

We worked hard and saved, but can't take the credit.

God blessed us and we're thankful.

[BigBaron]

Originally Posted by Scratch

We worked hard and saved, but can't take the credit.

God blessed us and we're thankful.

Where's the "like" button when you need it?

[dj3spots]

Originally Posted by scratch

we worked hard and saved, but can't take the credit.

God blessed us and we're thankful.

amen!

[Millatime]

My take on the whole situation parallels the subprime mortgage debacle. Financiers have made it feasible for anyone and their dog to own an RV or anything for that matter.

The ridiculous interest rates and keeping up with the Joneses sentiment permeates the gen x'ers and y's. mom and pop couldn't do what we can do today to attain luxuries. Make a payment today... YOU can have it!

When interest rates rise and we make money on an investment again, the RV market (and many others) will suffer. Silver lining... Resale might improve?!

My 2 cents

[BigBaron]

I always joke that leased vehicles should have a BIG sticker or different license plate!
0% financing is a no-brainer if done right, and even minimal interest rates are o.k. at times, but it is too easy to buy stuff, so demand is artificially high.
McMansions and bigger trailers are a few examples. But housing is nuts! I can't even move back to the neighborhood we left in 2003! I couldn't qualify now because prices are so high.
Side note: the bank that really kicked off the sub-prime debacle in America (New Century Financial) was started by a friend of mine, Ed. I haven't seen him in years...
I am always amazed at those that get a popup trailer for $500 or less. One person got a trailer for $1.00!
It looks like mostly hard work and a little luck are the keys. Anyone else feel the same way, or do you have a different take on things?
I'd love to hear more stories from everyone. It restores my faith... (I live in S. Korea-this place jades ya' after a decade or so )

[Taylorgso]

Originally Posted by Millatime

The ridiculous interest rates and keeping up with the Joneses sentiment permeates the gen x'ers and y's. mom and pop couldn't do what we can do today to attain luxuries. Make a payment today... YOU can have it!

When interest rates rise and we make money on an investment again, the RV market (and many others) will suffer. Silver lining... Resale might improve?!

My 2 cents

Mom and Pop lived a lifestyle of the past. Fathers worked, mothers stayed home. Now with a large percentage of households being dual wage earner homes, there is a lot more expendable income for many.

The healthiest days for RVs were back when interest rates were in the 7-9% range and above; with the recent extremely low rates, manufacturers have fallen by the wayside in droves. I financed most of my RVs simply because I could invest the same money and come out ahead. In the above scenario I think the same will hold true for many in the future.

RVing is more a lifstyle issue than a keeping up with the Jones issue. With the hectic pace of our lives in this era, I can only see that lifestyle increasingly appealing.

My 1 cents worth (and probably not worth that)!!!

[Stg1]

We didn't buy our new TT to keep up with the Jones. We bought the TT because the price was right and the Payment was only $80/mo more than we were paying on a 2006 model. At our age 68 and 82, this will probably be our last RV. You can't get a return on your $ for more than the int rate on the TT. If I could I'd probably found a different way. We enjoy using the TT now and in a few yrs, we probably won't be able to use it any longer. So, a newer RV will sell faster than an older one. Until then, as someone has said, " there is no hitch behnid a hearse".

[dj3spots]

You know what I hear every one saying. We can afford a TT because we want to. I like traveling/vacationing with my own things. My mother use to say, "everyone has their own dirt". My TT is way more comfy than a hotel. Not much for planes, trains or boat travel to foreign places. Like looking at the good ole US of A. So much here to see and do. Now if I could teleport foreign travel would appeal; but, since I can't, I'll stick to my TT. Hope to meet you all out there.

[Patches]

I worked hard for 35+ years, made good money, and also earned a decent retirement. Just before retirement, I spent almost a year looking for the "right equipment" for the "right price" to suit our needs. I found a private seller who needed to sell a (very) slightly used truck/trailer combo. After thoroughly checking the rig(s) out, I took a shot, and offered him about half of what he was asking. He agreed, and I paid him in full. He unloaded his rig on me because it scared him to tow it. A simple ball/tongue hitch adjustment cured the swaying problem that gave him permanent white knuckles. Saved about $11K. I went the private seller route to save money, and I did not want any rig payments after retirement. We went with this life style to get a way from the big city bad air, and other BS. After 5 years of full time traveling, some 45K+ miles, the only problem with the combo rig I bought has been a fuel pump failure, so I did myself well. Not old enough yet for SS, but a rental property, small pension, and seasonal work at various campgrounds across the country keep us in good shape. Heck, I even get to draw unemployment between some of the seasonal work I do.

Side Note; If you do decide to retire early like I did, don't forget to factor in health insurance premiums. This is our highest monthly expense right now.

[BigBaron]

That sounds like a neat life. I'm amazed the seller took 50%! Deals are everywhere...

[padoll49931]

My hubby and I are both 33, I am a Director of a school district, he is a Electrician at Chrysler. When I was in college I sold my car and bought property, used that as collateral for a mortgage loan, rented my extra rooms and lived for free while I finished college, then sold the house for a profit. I took that money and basically hoarded it until the market crashed and I talked the hubby into buying condos to rent. I bought a few that were cheaper than a new car, fixed them up and now rent them out. Three renters have been long term and even have us set up for direct deposit so we always give them a free month as a bonus to keep them happy. Since we bought cheap and paid cash we don't have mortgages on the rentals so our investment is minimal.
He was lucky and knew someone who knew someone. He took a test and scored high for Math so they made him an electrician apprentice at 21 and he has worked there ever since.
We just saved up and paid cash for our first used trailer and are putting it on a seasonal family-friendly site as a way to spend our summers. Since I work in a school setting the summer months are filled with state meetings and pencil pushing which I can take anywhere. It took me three years of looking to find "the deal", but I was in no hurry and knew it was there somewhere (driving my hubby nuts).
I worked my butt off in my 20s coming from a modest family. Paid for college by working 50 hours a week at night, 20+ credits a semester ( did you know you have to get Dean approval for more than 23?). I guess from the outside it looks like we are spoiled but I darn well earned some fun time with my kids and hubby

[Patches]

Originally Posted by BigBaron

That sounds like a neat life. I'm amazed the seller took 50%! Deals are everywhere...

He took less money for a couple of reasons. One he was scared to go anywhere with it since there was a terrible sway problem. Because of this sway problem, and the tow vehicle having poor gas mileage, they both sat pretty much unused for a few years. The truck had averaged only 6K miles per year from the time he purchased it. He told me about the sway problem before the sale. He could not drive over 40 mph while towing the TT. A quick trip to "my favorite" local RV repair lot, and $80 in labor solved that problem. The well known national company he originally purchased the TT from basically screwed him with the hitch assembly they put on. They had made several installation mistakes.

The second, (probably more important) reason was he and his wife adopted children. He needed some quick cash to finalize an adoption for their third child. It was a win/win situation for both of us.