Author Topic: Camper trailors, boats, side by sides, and other expensive toys  (Read 12673 times)

Cowardly Toaster

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Re: Camper trailors, boats, side by sides, and other expensive toys
« Reply #50 on: July 19, 2017, 10:07:26 AM »
I use a very different angle for my toys. I true mustache form, I fix anything that moves. I am on my 8th boat. Buy, fix, clean, detail use and sell... Repeat. I have flipped boat after boat. My current boat is amazing and would have cost $60k new. I am into it for basically $5k and a ton of work over the years on other boats to get here. If I sold it I would get a nice check for $25k. My camper? Bought it with a leak in the roof. Completely rebuilt it with about $1000 in materials. Total investment? $3k and more work. If I sold it I could easily get $5k. The magic of these super fast depreciating items is when they break, the people are so broke they can't fix them.

Hey well that's what Mustachianism is all about right? Living a better lifestyle for less money. If you can make that work, that's awesome.

That's what being frugal and opportunistic is all about. Mustachians has an environmental component as I mentioned above that would make boating on anything other than sail boat un mustachian.

Meh I don't see it. Even if he was boating 30 miles a day that would be less waste than the average consumer.

boarder42

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Re: Camper trailors, boats, side by sides, and other expensive toys
« Reply #51 on: July 19, 2017, 02:20:38 PM »
I use a very different angle for my toys. I true mustache form, I fix anything that moves. I am on my 8th boat. Buy, fix, clean, detail use and sell... Repeat. I have flipped boat after boat. My current boat is amazing and would have cost $60k new. I am into it for basically $5k and a ton of work over the years on other boats to get here. If I sold it I would get a nice check for $25k. My camper? Bought it with a leak in the roof. Completely rebuilt it with about $1000 in materials. Total investment? $3k and more work. If I sold it I could easily get $5k. The magic of these super fast depreciating items is when they break, the people are so broke they can't fix them.

Hey well that's what Mustachianism is all about right? Living a better lifestyle for less money. If you can make that work, that's awesome.

That's what being frugal and opportunistic is all about. Mustachians has an environmental component as I mentioned above that would make boating on anything other than sail boat un mustachian.

Meh I don't see it. Even if he was boating 30 miles a day that would be less waste than the average consumer.

i boat myself and you dont really gauge that by miles i'm going 10-11 mph plowing water to surf.  you cant make burning fuel for pleasure fit the environmental component of mustachianism it just doesnt work. but you can make ANYTHING frugal IMO.  I'm not mustachian from an envrionmental or spending stand point b/c i have a shit ton of things i like and do that arent close to fitting this model... but i live an upper class lifestyle from the outside looking in most people would probably write me up in the antimustachian wall of shame and comedy ... but its how you go about doing something that can make even the most non-frugal things frugal.  and we'll be done by 35 ... frugal does not equal mustachian ... frugal + environmental impact does. 

Capt j-rod

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Re: Camper trailors, boats, side by sides, and other expensive toys
« Reply #52 on: July 23, 2017, 06:27:52 AM »
well then I guess I'm more frugal than mustachian. I live on Lake Erie and I will always take advantage of out greatest resource. I just do it for pennies compared to the ass-hats that are making house payments on boats that they use 5x a year. I ride my bike and conserve energy on damn near everything else.

Fishindude

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Re: Camper trailors, boats, side by sides, and other expensive toys
« Reply #53 on: July 23, 2017, 03:33:22 PM »
Ive got a bunch of this kind of stuff.  It's all free and clear and paid for and we carry no debt on anything else.  Nothing wrong with having some toys if you can do it without going into debt or jeopardizing your long term financial health. 

Was at Cabelas yesterday and looking at their boats in the showroom.  They all had tags on them showing how much $$ per month based on XX$ down and 180 month payments.  Fifteen years to pay off a boat!    Crazy.

I usually buy this stuff a couple years old off of some slug that's tired of making payments. They usually have very little use or wear and you can get them for half or two thirds price.

TheGrimSqueaker

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Re: Camper trailors, boats, side by sides, and other expensive toys
« Reply #54 on: July 26, 2017, 08:19:02 AM »
My family owns an RV business and a campground and has for 30+ years. Around 85% of the RVs are purchased with a loan. Some people use them all the time others spend $35000+ plus have a seasonal spot that they spend $3000+ on rent a year and they are there a couple weekends a year. I live in northern Minnesota so buying a camper and renting a spot on a lake is still much cheaper than buying a lake home. However, if you don't use it whats the point!

We have been into RVing for almost two decades now. I never borrowed a dime for one and never will. Our latest rig is eleven years old. we bought it at seven, and paid about 30% of the cost of a similar new one. Since then I flipped the interior for about $2K and had the exterior repainted. All in, still a tiny fraction of new, and it's looks and runs new. The most mind blowing part of the whole game are the fools who borrow big bucks for RVs and a take a TWENTY year mortgage on a vehicle that is essentially worthless in twenty years, and end up with a loan that is upside down for a significant portion of the payment cycle. While shopping for a well priced, nice used motorhome, I continually had conversations with owners that went like this. "well, your motorhome is really nice, and just what we want, however, you are about ten grand over book value, so how much are you willing to come down?" The reply was typically, "Well that's what we owe at the moment, so I can't really take less". Now this is mind blowing for many reasons, like they have been paying for the stupid thing for 10-12 years and are STILL ten grand upside down! Next, they are on such shaky financial ground that they can't dig themselves out by filling the gap from savings. Third, they truly believe that a buyer will inexplicably pay 20-30% more than the thing is worth, since that's the loan balance. Many of these are older folks followed the whole mess down the rabbit hole. They couldn't or wouldn't sell for lower that the loan balance. They are paying $5-8K a year in payments, and once a year the "book value " drops by another $4-6K.  At that point it is often a big hulk of money sucking waste, sitting in the yard, until something happens. Maybe a small inheritance arrives, your kids bail you out, you die, who knows? Totally a  bizarre, but common situation. Sadder than this, was the few widows we ran into who had a husband drop dead, and leave them with an upside down motorhome mortgage, a rig that the wife new nothing about, couldn't drive for a block, and still had a $6-800/ month payment. I had a neighbor who suffered this fate, but was smart enough to call the lender and tell then to come pick it up.

I believe that it's pretty easy to destroy your financial future with one loan on a medium to high priced RV, and that there are probably tens of thousands of Americans going down in flames, every year because the stupid RV mortgage finished them off.

You just described my mother. She still has her 2001ish RV and can't sell it for what she still owes on it. Luckily she has the money to make the payments on it but she made bad choices.

I have a very modest, but nice to us, travel trailer that our family uses several times a year and it's much less than going and renting every time we go. We go to the same lake most of the time where all our friends have houses and house boats. My one buddy has four boats and two jet skis so we don't need to own a boat.

I've got some relatives on my father's side-- older folks who were teens during the Great Depression, the man was kicked out of the house at age 13-14 to go earn a living because the family couldn't feed him. Anyway they did OK for themselves in the long run but decided to buy a brand-new six-figure (in 1998 dollars) motor home, stop renting an apartment, and go with the full-time RV lifestyle. I saw the RV, inside and out: very new, very upscale, and I had no idea you could put a home like that on wheels but they did. Unfortunately they couldn't afford the payments. That in turn led to some pretty egregious behavior in terms of hitting other relatives up for "loans". I'd say they were finished financially.