Re: Question about financing older coaches
Reply #23 –
I am sure you realize that there is more to owning a motorhome than just the monthly P&I payment on your loan.
I assume you have located a safe, secure place to park the coach, hopefully with full hookups. Unless you are very fortunate, you will need to pay someone to provide you a space This rental will probably not be cheap in the LA area.
And then there is liability, collision & comprehensive insurance. Even if you just carry the minimum required policy, I'm thinking it might be rather costly in Los Angeles, especially for a $100K, 42,000 lb., FBP (full body paint) coach. If you leave the coach unattended all day while you are at work, you will also have to worry about theft and vandalism.
With these big diesel pushers it is advisable to carry roadside breakdown insurance to cover the tow costs if you get stuck on the shoulder.
How about taxes? Is there a personal property tax on RVs where you live? In some states, this can be a heavy annual monetary burden.
You may have considered all these factors - if so, I apologize for questioning your planning prowness.