Misery Loves Company

[Chance]

Originally Posted by The Gritz Carlton

RV finance companies should be required to disclose amortization schedules at delivery...just like a mortgage on a house as they are similar profiles. When you can finance something for 20 years that you know going in will depreciate by 50% in 5 years or less, the writing should be on the wall. The first half of your payments will be mostly interest only. This industry is in such need of regulation...and not by the government...by the manufacturers, suppliers and finance companies.

Excellent point. Anyone buying an RV financed for 20 years will be upside down for certain unless they put down a sizable initial payment. And if allowed to roll the depreciation into the next RV purchase, they will be upside down from the start.

I don’t generally like regulations, but sometimes it’s unavoidable. I agree the RV business needs some control, but I don’t think self regulation within the industry will work. In my opinion there are too many manufacturers competing with each other, and as long as one takes shortcuts to lower price and gain competitive advantage, it will drag every other manufacturer down to their level.

On the other hand, enforceable regulations with real teeth would kill the industry as we know it today. I’m not sure most consumers want that, so I expect present conditions will continue for the foreseeable future.

The only correction I’m noticing at all is coming from buyers, which is a great step in right direction, but will be a slow process.

[Bob Denman]

There's nothing wrong with being upside-down...
Just ask him!

http://www.thorforums.com/forums/att...1&d=1579290991

[The_Breeze]

Originally Posted by Bob Denman

I took out a twenty year loan because I hope to be dead LONG before I have to pay it all off...

Or just keep that crematory appt the wife made for you...

[The_Breeze]

Originally Posted by Chance

Excellent point. Anyone buying an RV financed for 20 years will be upside down for certain unless they put down a sizable initial payment. And if allowed to roll the depreciation into the next RV purchase, they will be upside down from the start.

I don’t generally like regulations, but sometimes it’s unavoidable. I agree the RV business needs some control, but I don’t think self regulation within the industry will work. In my opinion there are too many manufacturers competing with each other, and as long as one takes shortcuts to lower price and gain competitive advantage, it will drag every other manufacturer down to their level.

On the other hand, enforceable regulations with real teeth would kill the industry as we know it today. I’m not sure most consumers want that, so I expect present conditions will continue for the foreseeable future.

The only correction I’m noticing at all is coming from buyers, which is a great step in right direction, but will be a slow process.

I think regs could, and probably would, take the industry one of two ways.

An enforceable lemon law might: drive the price sky-high to cover reg resulting law suits, coupled with demand outstripping supply because proper QC has delayed manufacturing speeds

or

it could cripple the industry, leaving few survivors with no competition, per se.

Just a thought.

[Bob Denman]

Originally Posted by The_Breeze

Or just keep that crematory appt the wife made for you...

It's even worse... She found a crematorium for me that makes house calls!

http://www.thorforums.com/forums/att...1&d=1579306764

[The_Breeze]

Originally Posted by Bob Denman

It's even worse... She found a crematorium for me that makes house calls!

http://www.thorforums.com/forums/att...1&d=1579306764

Look on the bright side (pun intended), you won't have to dress for the occasion. Do you at least get breakfast in bed first?

[jannnda]

Originally Posted by The_Breeze

I think regs could, and probably would, take the industry one of two ways.

An enforceable lemon law might: drive the price sky-high to cover reg resulting law suits, coupled with demand outstripping supply because proper QC has delayed manufacturing speeds

or

it could cripple the industry, leaving few survivors with no competition, per se.

Just a thought.

Not sure I agree. The lemon law made the big 3 American car manufacturers better. If you look back, they did all kinds of things before all 50 states passed a lemon law. Texas doesn’t have a lemon law but I used it with the BBB and GM was told to buy my car back. This was back in the early 80’s

I do agree that if you buy a low cost MH you should expect the components will be low cost. But everything should work and warranties should be honored. Just my $.02.

[Popfla]

Originally Posted by Bob Denman

It's even worse... She found a crematorium for me that makes house calls!

http://www.thorforums.com/forums/att...1&d=1579306764

I've got plans.