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Old 09-01-2010, 03:51 PM   #1
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Default money pit?

My financial planner says the campers are "money pits that you lose a lot of money on when you buy them". Any thoughts on the depreciation factor on a used Class B? Any thoughts on whether your camper is 'money pit'? I disagree with the financial planner, but could be wrong. Thanks so much for your input! Jen
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Old 09-01-2010, 04:56 PM   #2
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Default Re: money pit?

Every situation is different.

My wife looks at the cost as an expense. Just like a big TV or a cruise to far off lands. Money spent, money gone. Some people try to look at it as an "investment" but basically you end up selling it for less than you bought it for.

You'll probably take a big hit if you purchase a new $125,000 unit and end up selling it. Obviously, you'll take less of a hit on a used $10,000 unit.

A Class B can also be used as a primary or secondary vehicle so that can be valuable.

The vacations we remember the most are the ones we took in an RV - that's priceless!
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Old 09-01-2010, 07:36 PM   #3
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First off I hope you didn't need a planner to tell you that. I don't know your finances or if you can afford a Class B. Is it a good financial investment??? Heck no. Is a car? A meal at a restaurant? A vacation? The extra shoes you purchased? The list goes on. If you have a planner that thinks he/she needs to share this with you I would look for another planner. If you can afford a B it could be a great investment for your relationship, family time, sanity, and an improvement towards a healthy lifestyle. Hikes, sight seeing, relaxing, biking, swimming...what ever floats your boat. If you can afford a B the little you invest can also add a few years to your life so you can spend more of that money your planner is helping you with. The more you invest or hoard the more they make.
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Old 09-01-2010, 08:36 PM   #4
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Gotta agree wholeheartedly with Steve. If you have to ask a Financial Planner, then you probably don't really want one. While your Planner is for hoarding the bucks and foregoing any time of pleasure (I know a few personally), if you and yours want it, can afford it....in that it does not detract from your family lifestyle, then make your decision. We've never regretted one hour of hours, nor the boat we own; everything is long paid for! Safe travels.
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Old 09-01-2010, 10:47 PM   #5
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Default Re: money pit?

Steve, Lisa, and Ron are in line with my way of thinking
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Old 09-02-2010, 12:59 AM   #6
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Default Re: money pit?

Quote:
Originally Posted by gablesgal
My financial planner says the campers are "money pits that you lose a lot of money on when you buy them". Any thoughts on the depreciation factor on a used Class B? Any thoughts on whether your camper is 'money pit'? I disagree with the financial planner, but could be wrong. Thanks so much for your input! Jen
I would agree with my peers on this, with the caveat that everyone and every class B is
different. Some might consider a B that costs the owner $2000-3000/year a money pit.
Others might think it's good value and fun for the money. Depends on how your PFP/CFP
defines money pit. If he/she is making you scads of $$$, maybe you should listen, but if
you're making the same as everyone else, I might look for a better way to manage your money
and your recreational dollars. Just my opinion, no offense or financial advice intended.

My feeling is that a used B will depreciate at about the same rate as a used car. It's more
often the new vehicles that take the brunt of the depreciation hit when sold. Like new cars.
That said, there are many additional things on a B that can have problems and require repairs
over and above the basic mechanical issues with the underlying van.
So the unexpected stuff can add up, but so can the planned upgrades, and general maintenance.
The vehicle related stuff is generally about the same as a large van or truck in frequency and cost.
So, I wouldn't call my Roadtrek a money pit, but some might. Based on it's age, I think it's not bad.
The memories of the places we've been and the things we've seen in her, really is priceless!

Another way you might look at it is the money saved in the better gas mileage, and convenience
of taking your travel accommodations with you, and the lower price of buying used, really offsets
the higher costs of maintenance and the depreciation.
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Old 09-02-2010, 02:56 AM   #7
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Default Re: money pit?

I was a financial planner prior to retirement. The comment was made within a context. But please don't ask us to second guess your financial planner, with or without the comment. If you truly need a second opinion, approach another financial planner and make full disclosure. All the best.
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Old 09-02-2010, 03:12 AM   #8
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Default Re: money pit?

I've had Truck camper, Pop-Up, small self contained TT, large self contained TT. Yep, lost $ on all. Did I have fun with them........YES! One thing I can say about my newest type camper(a "B"). I drive it to work when I can't take the motorcycle. Couldn't do that with any of the others. One of the best investments(FOR FUN) I ever made..........Mike P.S. unless something crazy happens I doubt I ever sell this one..........
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Old 09-02-2010, 11:12 PM   #9
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Default Re: money pit?

Quote:
"money pits that you lose a lot of money on when you buy them".
Technically yes, but the same can be said of any auto you buy, restaurant meal you enjoy, movie you go to see, vacation you take or any other non-investment venture you spend on... You can almost say the same today for the house you buy or the stock you invest in. If you want to live an enjoyable life you have to part with your money because you can't take it with you. The real question you need to ask of your financial planner is if you bought the B you want, do you sacrifice anything else that you cannot deal with financially? Don't think of a B as a financial investment. It's not.
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Old 09-05-2010, 12:51 AM   #10
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Default Re: money pit?

Thanks so much to everyone who posted a reply on my money pit question. All of the replies were thoughtful and helpful. I, in no way, meant to ask anyone to respond as to 'financial advice' - just your personal thoughts on cost vs. enjoyment. I think I definitely have my answer. )) Now, any thoughts on generators vs. no generators and showers vs. no showers? Some people with these say they never use them. What about all of you out there who've been the miles?

And, thanks again for all your input. Can anyone tell I'm a 'researcher' by nature. ha!
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