Hello to all;
We are new to the Foretravel community having come from SOB. Let's just say we learned a LOT from SOB; things we know that we DON'T want and things that we DO want in a "new to us" motorhome. We have narrowed our choices down to Foretravel as it appears to be a well-made, high-quality coach; one that will serve us well for a long time.
We are beginning the process of looking for a 2016 or newer Foretravel, preferably an IH-45. My question is with regard to Foretravel pricing and I hope that it's okay to ask what could appear to be a nosey or sensitive question.
For example, on RVTrader, there are a few 2020 IH-45's for sale with asking prices in the $740K to $799K range. I suspect that the asking prices of $740K to $799K are close to the price that the owners originally paid when the coach was new.
I have no idea what depreciation would be for an IH-45 that is now two model years old. Can anyone help me with what I could reasonably expect to pay, in today's market, for an IH-45 that is two model years old?
Thanks in advance for any help you can offer!
ron
A.K.A. Maddog11capt
From watching Foretravel ads for the last three years, those that were initially priced and then reduced to the sell date, they lost about $50K a year after initial depreciation. With that said, NOW with the market the way it is, I would agree with a previous comment about pricing that was stated a while back. An acceptable price is the agreement between seller and buyer without regard to market. See reply #11
Used Coach Valuation and Insurance (https://www.foreforums.com/index.php?topic=37935.msg367069#msg367069)
Having no experience with the newer for travel I couldn't quite answer that question but I would agree that the price will be what the market will bear. I would suggest trying to buy private party first as there's always going to be a markup when you buy from some place like motorhomes of Texas or foretravel. I wouldn't even think of buying something that expensive from another type of dealer. Right now with the surge of RV buying I would think that you will pay more this year than you would have last year. Same goes right now at real estate it's going through the roof. In the last year my ex and I sold three homes. All sold for more than we asked and very quickly. There's a bubble building and I wouldn't want to get caught in it. Like anything else let the other person take the depreciation hit if you can. You're still going to take a hit but maybe not quite as much if you purchase something a little bit older. That's just what these things are like. Good luck on your search.
My thanks to Journey and Master for your help. Master, I see that you are retired Air Force. My thanks for your service!
Larry, you mentioned "they lost about $50K a year after initial depreciation."
Any idea what "initial depreciation" would be, i.e., when you drive it off the lot do you lose about 20-30 % right off the bat?
Reason I'm asking is because I'm trying to determine a fair offer price.
Thanks in advance!
ron
A.K.A. Maddog11capt
Prices are high and rentals expensive right now. It's a seller's market. Everyone has cabin fever so until that cools off, you are going to pay through the nose and then when the market does cool, your expensive coach will be worth $$$ less. If you have a big budget, no problem but it pays to know the market.
Pierce
And, an important corollary is to, at a minimum, put enough cash down that you will not be significantly upside down in 2-3 years.
BANKS, PLEASE, PLEASE LISTEN!
When I was purchasing I figured they lost about 15% of there value every year with miles being a additional loss, but varied. Definitely not a good investment but if used they offer a reasonable return. Unused there pure painful loss. More miles you use them every year reduces the cost per mile of ownership. Figure out what you want and budget what you can afford. Just because I may think it's too much someone else may not. Make your offer most they can do is block your number.
Scott
Google class a RV depreciation....
How Much Do Campers Depreciate? | NADAguides (https://www.nadaguides.com/RVs/shopping-guides/how-much-do-campers-depreciate)
RV Depreciation: Everything you need to know - Camper Report (https://camperreport.com/rv-depreciation-everything-possibly-want-know/)
Should I buy a new or used RV? (https://www.rversonline.org/ArtNewUsedRV.html)
When someone tells me they are going to INVEST in a motor home, I usually laugh and tell them they are buying a money pit
but they are investing in a LIFE STYLE. Yes it is always nice to get a good price for your MH when it is time to sell, but when we bought ours I wasn't looking at the price I would sell it for down the road, I was looking at the enjoyment we would get from being able to travel and not have to stay in a motel. If you look at what you pay for a MH that would cover a lot of motel stays but personally I don't like to sleep in a bed that 365 people have slept in over the last year!
Just Me
DWMYH
Chris
I agree 100% except you forgot to mention the best perk, people like you and yours!
Scott
ron A.K.A. Maddog11capt
Sent you a PM.
looking for that caliber of coach I believe I would shop aggressively and find an owner "NEEDING" to get out from under one and save myself 100k on the same coach. Trust me, he's out there.
You would need to balance if option, floorplan verses age to be aggressive. If floorplan most important, then age less of a factor.