How do folks afford motorhomes

[Spriddler]

Hi Chaser, I have dealt in property all my life, the only time they are of any real value is if you buy at 20% under market value , improve, & sell on or let.

As U.K. sales manager for Duracell Batteries back in the 70's I frequently chatted with a young Stanley Kalms who took over running his father's couple of photographic shops (later Sir Stanley Kalms of Dixons Photographic, DSG International plc, Dixons Group, Dixons Carphone, Currys, P.C. World) at his couple of small Dixons Photo retail shops in London. On one occasion over a coffee after giving me and my salesman a very hard time he said to me: "I buy pound notes for seventeen shillings and sixpence sell them for eighteen and six", and "I make my profit when I buy, not when I sell". Some years later he also said that a large proportion of his profit came from selling extended warranties.
It's an approach that has stayed with me for over 50 years.

 

[steve69]

In America, a lot of pensioners buy their huge motorhomes on a type of hire purchase agreement. They work out what they can afford to pay per month and choose the RV accordingly. If they die during the agreement time, the RV just goes back to the dealer. Does the UK operate a similar system?

 

[Margo-Jen]

Years of hard work and saving every penny for a rainy day. Used it all on a cheep secondhand motorhome and haven't looked back.

 

[Ginster]

Had to work to 66 to get by. Cashed in private pension, bought a mid range Moho, live in it permanently and use state pension to fund it. Loving every minute!

 

[Rob Turner]

We always buy in Germany, couldn’t afford the prices here. Exchange rates have pretty much been in our favour though on all our vans.
We don’t have a massive house or a 50k BMW on the drive but we own everything.
It’s all personal choice.

If we can’t pay for it we don’t have it.
That was the best bit of advice my Dad ever gave me.

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[Stingamells]

Surely median means exactly half earn less.

No.... Median is not the same as mean or average

 

[Richard n Ann]

Our car is a Kia Venga bought it new but its 10 years old now, we could afford to buy a new car but would rather spend the money on a Motorhome & using it.

Same here, cars do absolutely nothing for me. A little reliable economical thing that nobody will look twice at. (8 year old 1.0L 60bhp VW UP )

Still each to their own, my ex workmate spends 40k on the top of the range transit vans it's his money

 

[Scottyboy]

One thing I always say to myself, if I drive the Moho to Switzerland the beautiful scenery and mountains look exactely the same sat in a 20k van as it does sat in a 200k van.

 

[kingy58]

I made all my money off other Motorhomers (I'm in the wine trade !)

 

[jako999]

Very true if you can’t buy it out right never get in debt, once you pay in full the moneys gone and you don’t think about it but if you pay monthly it the total purchase price is always in your head. I had a tv on interest free a few years ago it cost the same as buying it outright but the payments every month really got to me never again.

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[Bailey58]

No.... Median is not the same as mean or average

It was answered earlier.

 

[Jamesh]

Same here, cars do absolutely nothing for me. A little reliable economical thing that nobody will look twice at. (8 year old 1.0L 60bhp VW UP )

Still each to their own, my ex workmate spends 40k on the top of the range transit vans it's his money

That's nothing we own a 2004 VW polo 1.2 lovely little car elderly couple giving up motoring, only think wrong at mot was cracked tyres!

 

[MillyMoHo]

I think I must be in a different world than some on here, we have had various threads recently of people buying motorhomes for over a hundred grand and having all sorts of problems, and recently in a current thread someone breaking down in France and it's going to cost 11 grand to put it right, these figures are totally alien to me, I couldn't afford more than £5000 to either buy or repair a van , where do these amounts of money come from.

Many years hard work. Two of us working full time and part time for nearly 50 years each. We caravanned for many years, gradually affording slightly better caravans over the years. Then in lockdown trading the caravan in for a Motorhome, but not a hundred grands worth. It meant we could get away either out for the day with a picnic or short break, and we had our own facilities.

 

[Richard n Ann]

That's nothing we own a 2004 VW polo 1.2 lovely little car elderly couple giving up motoring, only think wrong at mot was cracked tyres!

Got a 53 reg Lupo at mum's house, had it from 6 months old 42k miles, it's off the road since lockdown but I can always recommission it problem is the road tax is extortionate, whereas UPsie is 20 quid

 

[Bailey58]

FTL? It’s not being recognised by Jims acronym buster.

Ian

Talking of acronyms I noticed when an earlier post by phillipsheila was quoted the "ass" was not picked up and the real word printed. Does it need a tweak Jim?

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[iandsm]

Gosh I feel poor I only paid 47k for my 5 yrs old van. On the other hand it’s done 9k miles and is immaculate. Probably a better buy than the last one I bought new for a good deal more money but needed remedial work.

 

[Jamesh]

Got a 53 reg Lupo at mum's house, had it from 6 months old 42k miles, it's off the road since lockdown but I can always recommission it problem is the road tax is extortionate, whereas UPsie is 20 quid

Ok you win!!

 

[bobnick]

We have what we want and some left.

 

[Gents]

I love the quote, (Can’t remember who said it, perhaps someone will enlighten me).

“IT SEAMS, THE HARDER I WORK, THE LUCKIER I GET”

 

[Spriddler]

I love the quote, (Can’t remember who said it, perhaps someone will enlighten me).

“IT SEAMS, THE HARDER I WORK, THE LUCKIER I GET”

Golfer, Gary Player:

"The harder I practise, the luckier I get."

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[Spriddler]

We have what we want and some left.

 

[Gents]

Thank you For that!
Couldn’t remember for the life of me.

 

[monzer]

 

[PrettyandFluffy]

I think I must be in a different world than some on here, we have had various threads recently of people buying motorhomes for over a hundred grand and having all sorts of problems, and recently in a current thread someone breaking down in France and it's going to cost 11 grand to put it right, these figures are totally alien to me, I couldn't afford more than £5000 to either buy or repair a van , where do these amounts of money come from.

Buy what you can afford and enjoy it. There's a lot to be said for having something that isn't new; our is an older A Class that we are happy to do bits and pieces to and we have the benefit of what previous owners have done, too - like a decent sound system right through including in the bathroom, and a built-in electric toothbrush charger! Not things we would have done or paid extra for but they're nice to have. Plus you don't have the high stress level of when something goes wrong or you accidentally damage something.

Don't assume that what everyone else has is actually bought and paid for, either! They might be juggling money but like to give the appearance of having more than they actually do.

 

[Gents]

“Loads a money” What a great show that was.

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[Gents]

‘One things for sure, we all have the same when we leave’ hee hee !

 

[drmartinwhite]

I think I must be in a different world than some on here, we have had various threads recently of people buying motorhomes for over a hundred grand and having all sorts of problems, and recently in a current thread someone breaking down in France and it's going to cost 11 grand to put it right, these figures are totally alien to me, I couldn't afford more than £5000 to either buy or repair a van , where do these amounts of money come from.

I thought a common way was for people to finance them over 10 years. Probably loads of ways people finance them tough based on their own circumstances. We just bought ours last October in the range you mentioned but we financed it on our drawdown mortgage, which is only 0.75% interest with five years to go, so way cheaper that the standard finance arrangements. We were going to finance for our investments but they return far more that the drawdown mortgage interest rate. Everyone is different. also, some not everyone, might be getting a return on their Motorhomes by renting them out this offsetting costs.

 

[Garry - June]

35 yrs service for Queen and Country...working with the dregs of society nobody wants to think or talk about...being regularly verbally abused.. spat at..buckets of excrement and urine thrown at me...hours upon hours of sitting around in helmet and body armour waiting to go and deal with someone high on drugs who has been slashing their own wrists and getting covered in their blood...the forgotten service as they call it...retired in my 50's with a generous pension..but regularly told by folk how lucky I am...

 

[Spriddler]

Don't assume that what everyone else has is actually bought and paid for, either! They might be juggling money but like to give the appearance of having more than they actually do.

That reminded me of a radio debate a year or two ago between politicians arguing about a proposed increase on the inheritance tax. One said that it would have little benefit since after the deceased's debts have been cleared only around 4% of estates attract any inheritance tax.

• In the tax year 2018 to 2019, 3.7% of UK deaths resulted in an Inheritance Tax (IHT) charge, decreasing by 0.2 percentage points since the tax year 2017 to 2018.

Inheritance Tax liabilities statistics

Statistics and statistical tables relating to Inheritance Tax. These data are provided for the year in which the wealth transfer took place.

www.gov.uk

(I did think that maybe care homes fees would have absorbed a lot of a deceased's capital and assets value).

 

[Coolcats]

What a ridiculous and insulting initial comment. Nobody should have to justify how they can afford their Motorhome.
This thread should be removed by admin please

I’m not insulted, gob smacked by some of the prices of MoHo’s and if someone can afford them good for them ours was in the £50k mark but understand if someone had a higher income better pension strewed investment or even have sold thier home to go full time happy days. Would I spend £200k on a MoHo I may well have….just around £150k short !

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