Interesting times to be shopping for my new truck camper

[restlessways]

Not sure if I should just quit looking for now, seeing how businesses are being shut down, state parks, entire states, etc. I may not even be able to use the thing in a few weeks.

It's also got me wondering - since we now seem to be headed for the 2nd coming of the great depression, might I be better served waiting to get a better price? I mean, as everybody's going broke, it seems to me that RVs and everything else are just about to crater in price.

Weird stuff going on right now. They're talking about a 25% contraction in GDP in the 2nd quarter!

[mountainkowboy]

I got my eye on the dropping price on an 08 S&S side entry, price has dropped 3K so far....another 3K and I might pull the trigger....LOL.

[Dennis58]

When there is blood in the streets it's time to take a walk. Going to be a buyers market in the coming months and cash will be king.

I'm looking.

[free_radical]

I buy when the price is right and pay cash always
that way I avoid payin interest and worries about repos.

Last time I bought new truck was in 08 when GM had the fire sale and got great deal on it,stil drive it bc it works fine.

[Veebyes]

JMO but if you are in the market now is a good time to keep looking. Select a few very strong possibilities & sit back awhile keeping an eye out for what you want & how much they are going for. When you think things have just about bottomed out grab your bag of money & go shopping.

[Kayteg1]

restlessways wrote:

Kayteg1 wrote:
You brought interesting point.
What is going to happen to campers who will be "upside down" on loan and buyer will stop paying?
Banks will have to lose more money by repossession, than it would cost them just forget the debt.
Back after 2008 banks would let the the people to live in the houses for years, before they would foreclosure. Las Vegas still have lot of vacant houses and abounded projects. .... 12 years after last recession. Legends say that it is government (taxpayers) who still pay for upkeep those houses as bank are not allowed to dump them and crash the RE market.

I don't think it's cheaper just to let the person keep the RV. Far from it. They would much rather repossess it and sell it to somebody else. Anything is better than nothing.

I heard about such procedure when it comes to houses.
Actually know personally a sample when at beginning of 2008 recession, with 3 missed payments BOA foreclosed on $230,000 loan to auction the house at $101,000.
But rumors say that banks are insured, meaning taxpayers cover the difference.
Don't think that will happen with repo on camper.
Bottom line, with so many variables nobody is going to tell what will happen in 2 or 5 years.
Meaning if you are on camper market and find 1 with good discount, don't hesitate to get it.

[adamis]

In the grand scheme of things I suppose it just depends on what you want to do. Assuming your own investments are secure and not being impacted by the meltdown of the economy, do you really want to put off traveling for 3 to 4 years while you wait for the economy to settle itself just to save a few thousand?

[deltabravo]

restlessways wrote:
Not sure if I should just quit looking for now, seeing how businesses are being shut down, state parks, entire states, etc.

Washington's governor closed the state effective tomorrow.

[restlessways]

Kayteg1 wrote:
You brought interesting point.
What is going to happen to campers who will be "upside down" on loan and buyer will stop paying?
Banks will have to lose more money by repossession, than it would cost them just forget the debt.
Back after 2008 banks would let the the people to live in the houses for years, before they would foreclosure. Las Vegas still have lot of vacant houses and abounded projects. .... 12 years after last recession. Legends say that it is government (taxpayers) who still pay for upkeep those houses as bank are not allowed to dump them and crash the RE market.

I don't think it's cheaper just to let the person keep the RV. Far from it. They would much rather repossess it and sell it to somebody else. Anything is better than nothing.

[Kayteg1]

restlessways wrote:
One thing lost in this equation is the incredible demand destruction and the need for many "owners" (debtors) to rid themselves of expensive monthly payments. After years of the highest production rates and sales in history, there are a whole lot of RVs out there. It could be like 2009-2010, where you literally had to cut your price to a fraction of NADA/KBB just to sell a car, truck or RV in a glutted market.

You brought interesting point.
What is going to happen to campers who will be "upside down" on loan and buyer will stop paying?
Banks will have to lose more money by repossession, than it would cost them just forget the debt.
Back after 2008 banks would let the the people to live in the houses for years, before they would foreclosure. Las Vegas still have lot of vacant houses and abounded projects. .... 12 years after last recession. Legends say that it is government (taxpayers) who still pay for upkeep those houses as bank are not allowed to dump them and crash the RE market.

[restlessways]

Kayteg1 wrote:
The way I see camper builds will develop:
-right now, with low demand dealers will unload the inventory at low prices
-with no demands for next year, selling dealers and manufacturers will close
-when economy recovers (who knows when that will happen?) there will be no camper manufacturer operating at speed, so the remaining inventory as well as new build will have pricing going toward the sky
That happen to some degree in 2008 and I don't see this time it going any better

One thing lost in this equation is the incredible demand destruction and the need for many "owners" (debtors) to rid themselves of expensive monthly payments. After years of the highest production rates and sales in history, there are a whole lot of RVs out there. It could be like 2009-2010, where you literally had to cut your price to a fraction of NADA/KBB just to sell a car, truck or RV in a glutted market.

[Kayteg1]

The way I see camper builds will develop:
-right now, with low demand dealers will unload the inventory at low prices
-with no demands for next year, selling dealers and manufacturers will close
-when economy recovers (who knows when that will happen?) there will be no camper manufacturer operating at speed, so the remaining inventory as well as new build will have pricing going toward the sky
That happen to some degree in 2008 and I don't see this time it going any better

[restlessways]

Dagwood_55 wrote:
I would also buy a new rig @ the 35% number, but I don't think my dealer is there, yet..

I don't necessarily want an RV dealer to actually lose money, I just want a better deal. We have had years upon years of inflated asset prices and, in my humble opinion, everybody got greedy. In turn, the "deals" pretty much went away.

[Dagwood_55]

"PS - The 35% number is what it would take for me to do it in this insane economic meltdown that has just started. Now the FED is saying unemployment could reach 30%! Good lord..."


I would also buy a new rig @ the 35% number, but I don't think my dealer is there, yet..

[restlessways]

Kayteg1 wrote:
You might find that life is always having lot of variables.
By now I would expect that you can find a dealer, who lacks cash for next mortgage payment and it will unload his inventory at dumping prices.
Waiting till after the recession is not showing good historically.
Before 2008 recessions TC were selling in $20k range.
Few years after the recession we are talking $50-70k.
Flip the coin if in doubt.

Seems a little bit soon, to me. I called around a bit yesterday and they are still holding the line on pricing. If I could get 35% off the truck camper of my choice, I'd buy immediately. I don't think we're there.

PS - The 35% number is what it would take for me to do it in this insane economic meltdown that has just started. Now the FED is saying unemployment could reach 30%! Good lord...