How do you decide how much to spend on an RV

[wowens79]

We've been RVing for 16-17 years now, and are looking for a new RV, but are struggling on how much we are willing to spend. We are pretty conservative when it comes to spending money.

We really want a Brinkley Z3100, which will end up probably a little over $80k, but it puts a knot in our stomachs thinking about spending that much money on something that is going to depreciate. Should we settle and spend like $40k on another TT?

We bought an new F-350 last year not knowing what kind of camper we wanted, so we bought a truck to pull what ever we decided on, so we don't have to worry about a new truck.

We could sell some non retirement stock, and pay cash for it, and we would still have an emergency fund of a years expenses. We have no debt other than our mortgage, and it is about a third of our homes value, and financed at 2.4%. It would take us about 2 years to replace the funds if we went with the Brinkley. We are in out mid 50's, and have put 12-15% in our 401k since our early 20's so we should be fine for retirement if the market performs like it has historically.

Should we bite the bullet??

[4x4ord]

I don’t think I’ve ever regretted spending more to get what I wanted. When I make do with something less than what I want I end up regretting it. So we don’t buy much compared to what we could afford but when we decide to buy something we buy what we want.

[goducks10]

Lantley wrote:

wowens79 wrote:

Durb wrote:
I think you answered your own question when you stated the thought of spending $80k puts a knot in your stomach. That knot may not go away once the warm glow of newness wears off. Nice trailer though.

Personal rule for me - pay cash for toys.

We have not financed anything other than the house for almost 20 years. If we bought it, it would use about 1/3rd of our cash, and would be replaced in less than 2 years. But it’s a chunk of money.

Which begs the question, Why have the cash if you are not willing to spend it on something you want? Is it all to be saved/cherished for some rainy day in the future?.
Does your crystal ball tell you your future is guaranteed?

x2. Life too short.

[Latner]

stripit wrote:
I also go with the if we can't pay cash, we don't buy. But we also take the time to look at what spending less would get you and if it isn't giving you the same good feeling, why settle for what isn't your first choice. We also say, well we are not getting any younger, and have no kids. So anything we have left when the time comes goes to charities. Why let them go first class and not us? We/you are the ones who worked and saved for the ability to buy what will make you happy. I say go for it...

X2

[Lantley]

wowens79 wrote:

Durb wrote:
I think you answered your own question when you stated the thought of spending $80k puts a knot in your stomach. That knot may not go away once the warm glow of newness wears off. Nice trailer though.

Personal rule for me - pay cash for toys.

We have not financed anything other than the house for almost 20 years. If we bought it, it would use about 1/3rd of our cash, and would be replaced in less than 2 years. But it’s a chunk of money.

Which begs the question, Why have the cash if you are not willing to spend it on something you want? Is it all to be saved/cherished for some rainy day in the future?.
Does your crystal ball tell you your future is guaranteed?

[stripit]

I also go with the if we can't pay cash, we don't buy. But we also take the time to look at what spending less would get you and if it isn't giving you the same good feeling, why settle for what isn't your first choice. We also say, well we are not getting any younger, and have no kids. So anything we have left when the time comes goes to charities. Why let them go first class and not us? We/you are the ones who worked and saved for the ability to buy what will make you happy. I say go for it...

[laknox]

wowens79 wrote:
We've been RVing for 16-17 years now, and are looking for a new RV, but are struggling on how much we are willing to spend. We are pretty conservative when it comes to spending money.

We really want a Brinkley Z3100, which will end up probably a little over $80k, but it puts a knot in our stomachs thinking about spending that much money on something that is going to depreciate. Should we settle and spend like $40k on another TT?

We bought an new F-350 last year not knowing what kind of camper we wanted, so we bought a truck to pull what ever we decided on, so we don't have to worry about a new truck.

We could sell some non retirement stock, and pay cash for it, and we would still have an emergency fund of a years expenses. We have no debt other than our mortgage, and it is about a third of our homes value, and financed at 2.4%. It would take us about 2 years to replace the funds if we went with the Brinkley. We are in out mid 50's, and have put 12-15% in our 401k since our early 20's so we should be fine for retirement if the market performs like it has historically.

Should we bite the bullet??

I was in the same boat when I replaced my '02 Duramax. I fell into a used '22 3500 Denali that was about $20,000 less than a new Denali and $17,000 less than a new High Country. Still, dropping nearly $78k on the truck, new FW hitch, tool box and some other doo-dads, was a bit puckering...but not nearly as much as $90-95k would have been. 🙂 I'm also considering replacing my '17 KZ Durango 1500, but I got it for such a good price that I'll make money on it. I'm lucky enough to have the cash to buy a new FW, then put the cash from selling the '17 back in the bank.

Lyle

[bucky]

Brinkley factory

[JKJavelin]

It sounds like you can afford it and I know this: If I don't buy the one I really want, I won't be happy. Buy the one you want the first time!
JK

[wowens79]

Durb wrote:
I think you answered your own question when you stated the thought of spending $80k puts a knot in your stomach. That knot may not go away once the warm glow of newness wears off. Nice trailer though.

Personal rule for me - pay cash for toys.

We have not financed anything other than the house for almost 20 years. If we bought it, it would use about 1/3rd of our cash, and would be replaced in less than 2 years. But it’s a chunk of money.

[Durb]

I think you answered your own question when you stated the thought of spending $80k puts a knot in your stomach. That knot may not go away once the warm glow of newness wears off. Nice trailer though.

Personal rule for me - pay cash for toys.

[Lantley]

I'm not suggesting you spend money foolishly. But every purchase you make in life does not have to be about payback.
It's OK to spend money on per enjoyment. That doesn't mean you buy something you can't afford but it does mean you can buy something that depreciates without feeling guilty. It's OK to enjoy life and spend money on something that makes you happy.
Some think happiness is a large bank account vs. a large RV.
However it's OK to have a decent bank account and a large RV.

[time2roll]

Go look. Find the price point you are comfortable with along with the value and conveniences you expect. RV show might be a good start to see many RVs to determine what you are interested in. Never buy on the spot. Look at your finances and see if you are comfortable if 150% of the purchase price disappeared from your bank account.

If 80k seems like a lot.. look at used RVs

[Sandia_Man]

Your money your choice, the first 2 of the RVs we purchased of the 4 we have had over 3 decades of RVing were new, the drop in value was significant not to mention the hassle of dealing with getting the bugs worked out under warranty. Last couple of RVs including our current class A were well cared for, lightly and gently used rigs that felt like new without taking such a drastic depreciation hit. We are also near retirement age and feel going used made for a remorse free buying experience, several years later our rig can still be sold for what we have invested in it although we have no intention of selling. Have fun shopping, hope you get the RV you want at a price you can live with.

[BB_TX]

Only you can decide. If you don’t feel comfortable spending $xxx amount then don’t do it. Lots of unexpected things can happen. And too often do. Spending the next few years worrying about whether you overspent will only add stress to your life. Buy what you are comfortable buying and go have fun.

[MFL]

First rule...never buy something you can't afford!

You say you can afford this, so why not? If it is what you want, why settle for less? You bought a new truck, capable of towing that fifth wheel. You will enjoy the tow, more than a TT (I've had several of each).

Most rec vehicles are going to depreciate, nothing new there. I've purchased many new motorcycles and snowmobiles, that were for enjoyment, but lost value quickly. No big deal, as I never was sorry about the purchases. Life is short, with lots of uncertainty as we reach retirement. Enjoy what you want NOW!

Yes, absolutely, "bite the bullet"!

Jerry