Motorhome Values post Lockdown

[Ivory55]

Also when time is good and the overtime is plentiful it’s easy to overstretch. We all think it would be good to have something now especially if we know people who have died early etc, and salesmen are good at their jobs. That’s why they do it.

 

[pelican]

Also when time is good and the overtime is plentiful it’s easy to overstretch. We all think it would be good to have something now especially if we know people who have died early etc, and salesmen are good at their jobs. That’s why they do it.

Oh well each to their own.
Sad to think what happens if you cannot make the payments suppose you could just give the keys back.

 

[Boy]

Where was the information posted about France not accepting tourists till late in the year .

 

[Ivory55]

Where was the information posted about France not accepting tourists till late in the year .

To travel in France at the moment you have to have proof it’s an essential journey, including hgv drivers. The date it runs to I don’t know, but maybe it had a date on it.

 

[chaser]

Say £2k per month, that's £24k per year capital repayment, 3 years term a van worth £72k plus whatever deposit you put down. I have no idea what finance companies loan on motor homes in terms of value percentage nor what term of repayment or interest rates, but it is easy to see how someone could easily get to thousands per month.

Also when time is good and the overtime is plentiful it’s easy to overstretch. We all think it would be good to have something now especially if we know people who have died early etc, and salesmen are good at their jobs. That’s why they do it.

Oh well each to their own.
Sad to think what happens if you cannot make the payments suppose you could just give the keys back.

The mind boggles stupid amount of money if you havnt got any, why spend that much on a van that you , if you are lucky but still having to go to work, are only going to use at most a month a year, you could have a bloody good months holiday for 12 grand.

^{_{Subscribers  do not see these advertisements}}

 

[Boy]

I have the forms you needed to have when we left Spain they were handed out to us when we left the camp site in Spain only gave us one . Needed one for each day I was the only camper on site who had a printer or it seemed that way .
I was copying them for other people on the site . What was funny never asked to produce it all the way back from the Spanish border . That’s the French for you
happy days

 

[funflair]

The mind boggles stupid amount of money if you havnt got any, why spend that much on a van that you , if you are lucky but still having to go to work, are only going to use at most a month a year, you could have a bloody good months holiday for 12 grand.

I imagine that when people take out these agreements they can afford the payments but then something changes that was not foreseen and it all goes wrong, never been a fan of this type of purchase but some people are not prepared to wait till they have cash for what they want.

Martin

 

[chaser]

I imagine that when people take out these agreements they can afford the payments but then something changes that was not foreseen and it all goes wrong, never been a fan of this type of purchase but some people are not prepared to wait till they have cash for what they want.

Martin

Yeah but this Corona job has really shown up that lots of people are just living on the edge all the time, no back up, two weeks no wages and they are done for.
Real bad times, but as soon as it's lifted they will be off again.
Always pushing for more money bringing firms down, but as soon as they get it they just chuck it away.

 

[funflair]

I blame the banks and credit cards, too easy to spend money you don't have, when you had to count the pound notes for something you wanted it made you question how much you really wanted it.

Martin

 

[Arzedby]

I would expect smaller 'simple field' sites will be permitted to open, at some point, but probably with a blanket halving in the number of pitches

I don't really understand why that would be. A certified site has to maintain a spacing of at least 6m anyway. I can understand extra precautions/restrictions around communal areas and toilet/shower facilities, but not the pitches.

^{_{Subscribers  do not see these advertisements}}

 

[gus-lopez]

U.K. is not in the Schengen area

No but it is still classed as in the EU until end of transition period 31st December 2020. & think yourself lucky it still as otherwise you'd be even hungrier during this nightmare..

The mind boggles stupid amount of money if you havnt got any, why spend that much on a van that you , if you are lucky but still having to go to work, are only going to use at most a month a year, you could have a bloody good months holiday for 12 grand.

& they have always said that the next big crash , after the " triple A mortgage scandal the yanks foisted on us" would be pcp vehicle purchases .

 

[Ivory55]

The mind boggles stupid amount of money if you havnt got any, why spend that much on a van that you , if you are lucky but still having to go to work, are only going to use at most a month a year, you could have a bloody good months holiday for 12 grand.

Everyone is different, we are in the if you cannot afford it we don’t have it, but there are others who are not. There will be all sorts of people tied up in finance on stuff that they cannot pay for at the moment, be it luxury items or an owner driver on a new black cab or new tipper on a tarmac Contract. They all thought that they would be able to cover it.

 

[Bluemanc100]

They could increase from the abysmal value which they are at present but it will be nowhere near to the value they once held. The entire leisure market will take decade's to recovery if it ever does.

I think Brexit will be good for UK motorhome values.. people will travel here and distribute their wealth in the UK I hope... we will still travel abroad but mix it up with travel around the British Isles

 

[Clickem]

No but it is still classed as in the EU until end of transition period 31st December 2020. & think yourself lucky it still as otherwise you'd be even hungrier during this nightmare..
snip...

Me hungry? I have gained 4lbs during lockdown, but did not think to blame/thank the EU for it

 

[sallylillian]

I imagine that when people take out these agreements they can afford the payments but then something changes that was not foreseen and it all goes wrong, never been a fan of this type of purchase but some people are not prepared to wait till they have cash for what they want.

Martin

My wifes son is a builder and he gets guys asking for a sub most weeks during the week!!! So they cannot even make it from one Friday to the next, and that was before CV.

^{_{Subscribers  do not see these advertisements}}

 

[TerryL]

I blame the banks and credit cards, too easy to spend money you don't have, when you had to count the pound notes for something you wanted it made you question how much you really wanted it.

Martin

With respect, it's easy to do that of course but, speaking from the other side of the counter, as I used to be, banks etc. are in business to make money for their shareholders not provide a social service and as such are in it to sell whatever they can at every opportunity. They do have a quite strict set of rules but generally accept that every now and then something goes wrong and you get the odd defaulter - surpringly it's only a tiny proportion of customers and it's factored in to the cost/benefit equation. But nobody can foresee something like the current situation and along with everyone else the banks are going to feel it too (although the cynics will say they can afford it of course).

Personally, Martin, I'm in agreement with you (I got into trouble several times for refusing credit that met the criteria, purely because I considered the customer couldn't afford it), but social pressures and the constant pushing that you must/can have it now leads too many folk into taking on something they really shouldn't. But that's human nature and us oldies, whilst we can see it happening, will never get society to change.

Or maybe, along with many other changes, coronavirus WILL start to change peoples attitudes?

 

[funflair]

TerryL

My comment was slightly tongue in cheek, my wife worked in the bank Midland/HSBC she was given a credit card and told to use it and then sell the benefit to customers, but we all need to be responsible for our own actions.

I should add that the majority of staff were quite rebellious and refused to abuse the trust that their majority farming community customers put in them.

 

[Chris51]

Think too many people are living above their means...on credit all the time.especially the young ones. Not thinking of the future/hard times and not having any "reserves " to fall back on. Personally I don't have stuff on credit/HP ..I make do with things until I can afford better. Learnt my lesson when I was 16 by having a m/c on HP that turned out a money pit ..lesson learnt - taught my kids the same and they agree.

 

[TerryL]

TerryL

My comment was slightly tongue in cheek, my wife worked in the bank Midland/HSBC she was given a credit card and told to use it and then sell the benefit to customers, but we all need to be responsible for our own actions.

I should add that the majority of staff were quite rebellious and refused to abuse the trust that their majority farming community customers put in them.

No worries Martin - it was Midland for me too and, yes, I got the new Access card to try out.
But getting authorisation initially was so bad that we turned the punch line round from "takes the waiting out of wanting" (yes, that's really what it said!) to "takes the wanting out of waiting"

It's all too easy now.

 

[busbuddy]

The mind boggles stupid amount of money if you havnt got any, why spend that much on a van that you , if you are lucky but still having to go to work, are only going to use at most a month a year, you could have a bloody good months holiday for 12 grand.

They are retired, it was explained to me how/why they have it on finance but the chat occured at a bbq and I was not 100% coherent anymore. From memory they tried the buy it outright way but switched to finance after the first couple, they change every 2 years. Must be better to keep their money where it is and payments covered by interest/return on it, don't know for sure.
If you look at the finance calculators on dealers websites it's truly scary what repayments can be even with big deposits.
I wouldn't be able to sleep at night

^{_{Subscribers  do not see these advertisements}}

 

[sedge]

I wanted a washing machine, cos I had my sister's old one and ditto spindrier, which were her mother-I-L's old ones when she'd been given them about 6 years previously, meanwhile sis bought her own twin tub, cos by this time they'd had a baby. Washer was OK but spinner I had to sit on to stop it crashing into anything else. Curry's were selling Indesit automatics for £119.99 AND 12 months interest free credit, went in and asked for monthly payment amount. I could afford it! So he left me with the form to complete which I did. He was very nice when he broke the news that I didn't qualify since being a married woman and therefore in Law at the time, merely another chattel of the bloke who was there waiting for me at the altar end of the centre aisle of out Church.

Funnily enough - that incensed me!

So - I made an appointment with my Bank Manager to apply for an Access Card and went into Curry's the next weekend, handed over the deposit and still have that card. Only difference is, for the last 20 ish years, it's been automatically settled in full every month and every penny we spend at Tesco - food etc and petrol - is made on it cos of course we have used the vouchers to pay for the vast bulk of our Tunnel crossings since 2009!

 

[jongood]

No worries Martin - it was Midland for me too and, yes, I got the new Access card to try out.
But getting authorisation initially was so bad that we turned the punch line round from "takes the waiting out of wanting" (yes, that's really what it said!) to "takes the wanting out of waiting"

It's all too easy now.

Wow! Access cards, big news at the time but didnt seem to last long. It was right game to get one and businesses weren't over keen on accepting any of them.

 

[Gary217]

"France have blocked tourists until 31st October and and Germany have blocked tourists until 31 December, so that rules out most of Europe for 2020" - love to know where this is stated?

I think this is only a 'might be closed' but I saw this a week or so ago and as we're not in the Schengen group I guess it could apply to UK travellers. Don't think anything is 100% known as yet.

Macron Warns EU External Borders May Remain Closed Until September Due to COVID-19

The French President Emanuel Macron has warned that the external borders of the Schengen Area and the Schengen Associated States may remain shut until September, as a measure against another wave of Coronavirus infections in the territory that may be caused by an outer factor, travellers coming...

www.schengenvisainfo.com

As we only really like Camping in Europe and are not fans of UK campsites, ours probably will be going for up for sale as we can't see next year being back to normal.

 

[Nasher]

Wow! Access cards, big news at the time but didnt seem to last long. It was right game to get one and businesses weren't over keen on accepting any of them.

I got an Access card as soon as I was 18, it was great, no messing about with cash/cheques

A few years later when working in the USA, i was filling up the car and my company American Express card was refused - but my good old access card worked!

 

[Lenny HB]

I blame the banks and credit cards, too easy to spend money you don't have, when you had to count the pound notes for something you wanted it made you question how much you really wanted it.

Martin

I don't see how you can blame the banks. They didn't force anyone to borrow money they couldn't afford to pay back.
We have borrowed money in the past but would never borrow an amount we couldn't cover if circumstances changed.
Never liked the idea of buying Motorhomes or cars on credit makes no sense to borrow money on a depreciating asset.

^{_{Subscribers  do not see these advertisements}}

 

[Rimswell Wanderer]

There are good reasons to think m'hs will increase in value as we gradually come out of the crisis. There are also good reasons why they will decrease. Or even no changes.

The straight answer is, like everything else in this current "crisis", nobody has a clue. You might just as well read the tea leaves in the bottom of your cup. (I use teabags so can't even guess that either! )

But don't let me spoil the discussion!

i tend to agree it’s a case of what will be will be but I suspect UK sites will be busy once we are in the clear, in the meantime stay safe.

 

[Dave@ferncot]

If people can’t or won’t fly or take cruises but we have an economic depression... will Motorhomes be in greater demand and values increase ?

At the moment I have been searching the market to see what is on offer there are some real bargains out there maybe because of the lock down

 

[funflair]

I don't see how you can blame the banks. They didn't force anyone to borrow money they couldn't afford to pay back.
We have borrowed money in the past but would never borrow an amount we couldn't cover if circumstances changed.
Never liked the idea of buying Motorhomes or cars on credit makes no sense to borrow money on a depreciating asset.

I don't really Lenny as I believe that we should all be responsible for our own actions, I should have added a But after saying that they do bear some responsibility in that they used to be there to serve their customers but then the demand for more and more profit meant that they had to find more and more ways of making money from their customers, yes credit cards are convenient and easy to use but they are also an easy way to get into debt with the bank which is where they start to make money.

Martin

 

[sallylillian]

I think this is only a 'might be closed' but I saw this a week or so ago and as we're not in the Schengen group I guess it could apply to UK travellers. Don't think anything is 100% known as yet.

Macron Warns EU External Borders May Remain Closed Until September Due to COVID-19

The French President Emanuel Macron has warned that the external borders of the Schengen Area and the Schengen Associated States may remain shut until September, as a measure against another wave of Coronavirus infections in the territory that may be caused by an outer factor, travellers coming...

www.schengenvisainfo.com

As we only really like Camping in Europe and are not fans of UK campsites, ours probably will be going for up for sale as we can't see next year being back to normal.

The first paragraph says:-
The French President Emanuel Macron has warned that the external borders of the Schengen Area and the Schengen Associated States may remain shut until September, as a measure against another wave of Coronavirus infections in the territory that may be caused by an outer factor, travellers coming from the US and other countries.

I think the UK is an associated state until December 20? So we are inside the bubble. Perhaps?

 

[Ivory55]

It’s ok having a go at people for borrowing to buy motorhome etc and probably more than they can afford. But if it was not for the people doing this and paying high interest etc a lot of you would not have such good pensions etc.

^{_{Subscribers  do not see these advertisements}}