Thursday, January 31, 2013

Ahhhhhhhh Well…..

Go figure, our current rig dropped 14k in just one year making this deal un-doable. Oh they can still sell it for $35,000 but they will only give 17k for it on trade, no way Jose and I refuse to bury negative equity on the new rig.

I’m upset that we can’t get out from under our current rig. Not because it’s a bad rig, but because it’s dropping value suddenly like a rock and we are buried underneath it unable to upgrade because we’re upside down. These new rigs selling for $79,000 are piles of crap and they are forcing rigs like ours to plummet in value…

I screwed up when we bought this rig, it’s haunting us now… nuts…

9 comments:

Anonymous said...

Same with us so we are just going to keep enjoying the rig we have.

Bruce (& Val)

JO said...

We all do it. I have lots of regrets on money I have spent on rigs and now I don't have one. I will have to wait until I can sell the the trailer up north. :(

Merikay said...

We really haven't used our enough to have any complaints or want to trade it in. We had to restrict our size to 36' if we wanted to park it at home. With storage costs what they are here in California we would be putting out $$$ every month for that.

we were lucky enough to be able to buy what we did when we did. It seems like yours is pretty nice. Better to spend the money on improvements and trips than on newer and fancier.

Sue and Doug said...

oh we have all made mistakes Erik! ..hang in there, at least you have a motorhome to get out and enjoy the great outdoors!

Sam&Donna Weibel said...

I think you will find this is true right now of whatever RV you own,MH, 5th Wheels,or pull behinds.Right now the RV dealers feel they have a market and are not giving you what the used to for trades, Hang in there that will change when they get hungry, The consumer controls the market and if nobody buys, the prices will come down.

Jackie said...

Kind of like the housing market right now, I suspect.
I pray that you continue to enjoy and love your RV; I'm sure that you do.
Sending you both hugs,
Jackie

Erik's RV Blog * said...

Thanks everybody and you're right, we do have a nice rig and it's finally where we want it. The problem is the interest rate we got when we bought, last year we would have been even and should have pulled the trigger instead of turning it down.

The payment isn't high, but the rate is higher than we should have agreed to....

TexCyn said...

Hi Erik, I'm catching up here. Don't let this get to you. It's life & well, resale on rigs & vehicles sucks & always will suck. I've decided to just keep mine & keep maintaining it to keep it in as good of shape as possible. I know you do that too. A friend bought a 5th wheel a few years back - brand new. Her husband recently passed away & she has no need for her rig now. She's contemplating in letting it "go back" as she's already upside down on the note. Bought it for 79, still owe 40, the RV place offered her 26. That sucks, especially in a time of mourning.

Erik's RV Blog * said...

TexCyn - I agree with you, it sure would have been nice to upgrade but we appreciate what we have.

Sorry to hear about your friend, I hope it works out for her.