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Old 06-22-2017, 05:14 PM   #1
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Default Year vs mileage

Im looking to purchase a used Class B rv. I noticed that most banks want the year of the RV to be less than 10 years old, and the mileage to be less than 75k to finance. Ive seen plenty of RVs from 2000 - 2005 in my budget ($25k) with 50k miles or less on them. If the banks dont want to finance a vehicle greater than 10 years old, does that mean that a 10 yr old RV with 75k miles on it has more life left in it than an RV with 40k miles that is 15 years old? Which would require more major repairs (engine transmission, etc) sooner, a 10 year old RV with 75k miles or a 15 year RV with 40k? Ford, Chevy, Dodge engines and transmissions... how long do they typically go for if they have been maintained regularly?
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Old 06-22-2017, 05:26 PM   #2
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Quote:
Originally Posted by lfrese View Post
Im looking to purchase a used Class B rv. I noticed that most banks want the year of the RV to be less than 10 years old, and the mileage to be less than 75k to finance. Ive seen plenty of RVs from 2000 - 2005 in my budget ($25k) with 50k miles or less on them. If the banks dont want to finance a vehicle greater than 10 years old, does that mean that a 10 yr old RV with 75k miles on it has more life left in it than an RV with 40k miles that is 15 years old? Which would require more major repairs (engine transmission, etc) sooner, a 10 year old RV with 75k miles or a 15 year RV with 40k? Ford, Chevy, Dodge engines and transmissions... how long do they typically go for if they have been maintained regularly?

The bank wants you to take out a personal loan... which carries a higher interest rate.


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Old 06-22-2017, 08:33 PM   #3
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I'd look at your finance situation- it is usually not a good idea to take out a loan on a "toy".
a couple of missed paychecks or a medical emergency can put you on a downward spiral if you are overly exposed.
I tell this to guys who wanna buy Harleys all the time- save up and then buy what you want.

A class B van is about the highest cost per square foot you will find- our advantages are ease of driving, parking and MPG- but a class C is alot bigger for less money and for many a better choice



in terms of service life- there are members here and campers on the road in vans from the 80's- happily.
of course an older van might need more care.

I consider 2000 to be the leap forward in reliable powerful efficient ( mpg) motors and EFI- aluminum motors designed for synthetic oils ( cleaner internals) and better cooling systems
trickle down from passenger cars to trucks and vans
Since most campervans are built on a commercial chassis, there are not alot of changes model year to model year.

the van I bought a few years ago was 8 years old with 80k on it.
25k later just some oil changes, filters gas and new shocks

As a cash purchase I probably saved close to 10% in negotiating
Sellers don;t want to deal with someone who says I want to buy and hold it for me while I go talk to a bank and create a papertrail

- I saved another 10% as AZ doesn;t tax private party sales...buy used from a dealer and you add almost 10%

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Old 06-23-2017, 12:15 PM   #4
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The 10 year old RV cut off for financing would just be a rule or guideline for finance companies.

It may explain why NADA prices for 10 yr old RV's seem to drop a lot. A lot of people probably can't buy without financing so there are more buyers/more competition for vehicles that are eligible for financing.

Some RV Resorts have a 10 yr or newer RV rule for admission. Typically that doesn't affect the type of parks where Class B's stay. They're more meant for larger coaches.

I'd generally choose low mileage over younger vehicle when buying used.

10 to 15 year old vans are still what I'd call modern vehicles. My 20 year old GM van (approx 60,000 miles) has driver and front passenger air bags, power steering, air conditioning, cruise control, power windows, 4-wheel anti-lock brakes, 4-speed heavy-duty electronic automatic transmission with overdrive for example.
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Old 06-24-2017, 02:01 AM   #5
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Mike's comments relative financial risk is really a word of wisdom. Not only if you get laid off, or something of that nature, the possibility of a major repair should be considered. I have a young friend who had to have a Lexus, 10 years old - yep, the motor went after about 5900 miles. He was really hurting, the Lexus payment and another engine, plus installation. Please think hard before you sign. Ron
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Old 06-24-2017, 02:38 AM   #6
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If i was a lender, I would never borrow money to someone for an RV over 10 years old or mileage over 75K. A lender could easily get stuck with that vehicle if the borrower defaulted on that higher risk loan.
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Old 06-24-2017, 12:24 PM   #7
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Getting back to the OP's original question: I can't speak for all makes and models of Class B's, but we have a 21-year-old Ford F-series truck with a diesel. After 200K miles, the diesel runs like new, but other things have failed - and the transmission was expensive. Also, little items like the window motors have needed replacing. Not big ticket items, but Ford doesn't make parts after twenty years so you are dependent on after-market suppliers or junk-yards.

Ford trucks are probably the most common trucks on the road, but some parts are still impossible to source at this point, so getting an older vehicle that is even less common might make it difficult to maintain. Vehicles that aren't maintained become worthless pretty fast and Class-B's have even more things that can go wrong. I expect banks are unwilling to lend on old or high-mileage versions because if it becomes unusable, the borrower is likely to default, but repossessing the van won't recoup the bank's loss.

I have seen several blogs about people who live in their Class-B's for a time. Payments can be cheaper than rent in some places with the added bonus of not having to pay for a separate car.
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Old 06-24-2017, 01:13 PM   #8
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The parts availability issue is a concern of mine but so far it has not been a problem.

It's useful to know the model year range of any used vehicle you are considering. Some parts will fit all the model years within the range.

Examples:

Current GM van are from 2003 to present day.
The previous range was 1997 to 2002.

1998 to 2003 Ram Vans should be similar.
The previous range was 1994 to 1997 (I think).

2008 to present Ford Vans should be similar.

The years posted might not be 100% accurate - if anyone knows for certain post the info.
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Old 06-24-2017, 02:01 PM   #9
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I think this is an interesting discussion and would like to take a run at the question: is it better to have a newer, high-mileage vehicle or an older, low mileage one.

I think the answer is, it depends.

Some things fail from age regardless of the miles. For example, rubber parts like belts, tires, hoses, weatherstripping, etc, can rot from age even if the van hasn't been driven. Furthermore, if it was in a wet climate, there may be leaks, mold and rust; if it was in a hot and dry climate, the wiring harness may be cracked and brittle. So for an older van, being stored inside is a huge bonus and would add value.

"Regularly maintained" is kind of a loose term. The engine oil may have been changed regularly, but the owner probably didn't take the door panels off and re-lubricate the window motors so there may be some age-related issues with non-drive train parts.

On the other hand, a newer, high-mileage vehicle is more likely to have worn ball-joints, bearings, etc. It may look newer, but perhaps require more expensive repairs. Furthermore, being driven between Florida and South Carolina will have put far less stress on the mechanicals than being driven around the Sierras or Rockies. So knowing where and how it was used would be helpful.

It also matters "when" it was driven. If you find an older, low mileage vehicle, but the miles were all put on in the first two years and then it sat idle for 10 years, there could be issues. Mechanical items need to be worked periodically.

I think the repairs you will need to make based on age will be less expensive than the repairs that would be required from use so speaking purely from a chassis view, in an ideal world, I would look for an older, low mileage vehicle that was stored inside and check the Carfax to see if it was driven at least a few hundred miles each year.

The above is just my opinion so YMMV, as they say.

I can't speak about the RV "innards" but there are a lot of people on this forum who know more than I do about these things.
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