Buy New or Restore? The Big Decision.

[DerekHammersley]

Sometime ago, I was in a quandary about whether to buy new, or spend some money on TLC.
I posted a question in the The Facebook group Frankia Motorhomes UK, if they knew of anyone who had had their van resprayed, and if they had been happy with the result, could they pass on the details?
I am extremely grateful to a member who replied, telling me about Jordans leisure vehicle repairs ltd. This short video is of my journey, and if anyone is thinking about a respray or small repair, I hope you find it useful. I don't have any other connections with Jordans other than being a customer

 

[LithiumConvert]

Buying new has so many advantages if only everything uses up-to-date technology.

Yes, there will be things to fix, but the end result is worth the learning curve.

 

[Whippet93]

Buying new has so many advantages if only everything uses up-to-date technology.

Yes, there will be things to fix, but the end result is worth the learning curve.

But up-to-date technology also has its drawbacks. You only have to see some of the problems looking for help on this forum, with modern touchscreen control panels, ECUs etc.

Looks like they did a good job on it anyway.

 

[LithiumConvert]

I think some of the "problems" are exagerated.

 

[Jev88]

I can't bring myself to buy new and kiss goodbye to 15+% the second I drive out the forecourt.

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[funflair]

Oops double post

 

[funflair]

But up-to-date technology also has its drawbacks. You only have to see some of the problems looking for help on this forum, with modern touchscreen control panels, ECUs etc.

Looks like they did a good job on it anyway.

So does out of date technology of course, we are now firmly in the "up to date" camp and wouldn't go back or would we ?, no I don't think so.

 

[whitebeach]

Well we just bought a 1999 Hymer! But new was 123,000!

 

[TheMobileWanderer]

There's a third option; new 'self'-build. Not, though, like all the youtubers who do a good DIY build.

I'm designing and specifying my build as well as sourcing components. I will project manage it, do the 'tech' stuff myself but employ specialists where necessary. I could delegate all of it but prefer not to.

So the panelling will be professionally sandwiched and each piece fitted at the appropriate stage. CNC will be dome professionally as will fitting of windows/skylights/hab door etc.

Provided I use the measuring tape properly and use CAD correctly, I should get a top end result for second-hand cost.

Some knowledge gaps to be filled but, I'll get there .

Advantages?
1. Higher spec insulation, solar, electrics, heating, plumbing and better layout than most brands. (imho).
2. Connection here with some pretty decent people who have given advice or cautionary warnings and others giving encouragement. All appreciated.
3. Potential satisfaction from taking on and completing another challenge in life.

 

[The Wino]

I can't bring myself to buy new and kiss goodbye to 15+% the second I drive out the forecourt.

It depends because if you spend quite a bit on doing up an old motorhome it's probably going to be worth quite a bit less than it costs. I think the lowest loss on resale would be one in good condition bought privately.

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[Geistguy]

If I was happy with the van I owned, everything worked well and I was happy to keep it for at least 5 years then I would certainly consider refurbishing. The cost of a refurb has got to be less than the depreciation on a new build, the latest gadgetry and gizmos are good but can come with problems.

 

[Odd-no-more]

As long as everything still suits my needs, I would always keep. I think the most important thing with an older van is never let anything that goes wrong stay wrong. I always fix everything before the next trip. The way to have an "old" van is to not fix the small things

 

[gus-lopez]

I think some of the "problems" are exagerated.

& plenty of new vehicles are not fit for purpose.

 

[TheMobileWanderer]

If I was happy with the van I owned, everything worked well and I was happy to keep it for at least 5 years then I would certainly consider refurbishing. The cost of a refurb has got to be less than the depreciation on a new build, the latest gadgetry and gizmos are good but can come with problems.

Agreeing about gadgets and gizmos.

I'm not sure about refurb costing less than depreciation from new. Sometimes but several variables affect that.

Because the cost of refurbished depends largely on the spec as well as what is to be refurbished, it can be surprising.

If updating insulation, for example, it's a huge job with considerable cost. That part of refurb may cause damage to hard-to-find or irreplaceable interior items which may push refurbished costs up further. It may shrink the internal space (accidentally or otherwise), which may mean the original interior won't fit.

My brothers under-restoration moho is 1994 square-front ducato (talbot-fronted anyway). 25mm polystyrene insulation, wooden frame, the rear of which needed to be replaced, and much of the interior is unobtanium. The skin is alloy.

His power and lighting are closer to Victorian than to Victron and much else needs brought up to date. I don't think he's got any solar. If he did it all, it would basically be a new hab box and interior.

The difference between his project and mine is that he has the base vehicle. I'm not sure his would be worth 35k after refurb. Also not sure which would be a comparable new moho, to measure his costs against depreciation of that new moho.

I'd love to see more being restored or refurbished but on my calculation it's often not economically viable if there's even just one major change needed.

 

[The Wino]

Agreeing about gadgets and gizmos.

I'm not sure about refurb costing less than depreciation from new. Sometimes but several variables affect that.

Because the cost of refurbished depends largely on the spec as well as what is to be refurbished, it can be surprising.

If updating insulation, for example, it's a huge job with considerable cost. That part of refurb may cause damage to hard-to-find or irreplaceable interior items which may push refurbished costs up further. It may shrink the internal space (accidentally or otherwise), which may mean the original interior won't fit.

My brothers under-restoration moho is 1994 square-front ducato (talbot-fronted anyway). 25mm polystyrene insulation, wooden frame, the rear of which needed to be replaced, and much of the interior is unobtanium. The skin is alloy.

His power and lighting are closer to Victorian than to Victron and much else needs brought up to date. I don't think he's got any solar. If he did it all, it would basically be a new hab box and interior.

The difference between his project and mine is that he has the base vehicle. I'm not sure his would be worth 35k after refurb. Also not sure which would be a comparable new moho, to measure his costs against depreciation of that new moho.

I'd love to see more being restored or refurbished but on my calculation it's often not economically viable if there's even just one major change needed.

I've had a few summer cars verging on classics a proper mini, a vitesse convertible and panther lima. In each case I bought the best I could find as getting a doer upper and spending would be way more expensive especially if you're going to get someone else to do some of the work. As you say if you already have a vehicle the necessary skill and especially if there's some emotional attachment it's a different matter . In the case of the op I suspect a complete respray by a professional firm is not going to add as much value as it costs but if you're going to keep it several years it could be worth it.
As I'm typing this I'm just thinking how it relates to boat maintenance. We have spent including mooring about 8k a yearon a £26k boat! Must be bonkers!

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[LithiumConvert]

It depends because if you spend quite a bit on doing up an old motorhome it's probably going to be worth quite a bit less than it costs. I think the lowest loss on resale would be one in good condition bought privately.

We don't buy them as an investment.

 

[Lenny HB]

I can't bring myself to buy new and kiss goodbye to 15+% the second I drive out the forecourt.

Last van I lost 7% in 7 years, happy with that.

 

[The Wino]

We don't buy them as an investment.

Certainly. But the discussion was about which loses least new or doing up an old one

 

[Barchetta47]

I think in the OPs case it’s a no brainer.

There is a 2009 Frankia 680, exactly the same as the OPs, for sale on Autotrader for £40k. Even if Frankia produced the same model it would be north of £140k new! A £100k invested still produces a tidy return annually. A quick respray for £4-5k (cheaper in Morocco!) and away you go. If there was a desire to upgrade some of the gizmos and interior it would be much, much cheaper than buying new. Obviously you could bridge the gap with a more recent secondhand model but that brings its issues.

We have a slightly older Burstner 681, same size and layout as the OPs Frankia, and despite looking we can’t bring ourselves to move on. We had a recent front end respray in Morocco for £150 and she looks a bit brighter. The only thing we might do is upgrade to Lithium as we would like to be in a position to charge our eBikes from the MH.