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Topic: Need Advice to Sell or Keep Lazy Daze (Read 7 times) previous topic - next topic
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Need Advice to Sell or Keep Lazy Daze
Yahoo Message Number: 136016
When I purchased my 2003 Twin-King almost ten years ago, I had planned on full timing.  I was unable to do so due to family events.  I have put on about 66,000 miles and have thoroughly enjoyed my Lazy Daze.  I moved and no longer can park the LD at home and am now paying for monthly storage.  For the next five years or so I probably will not be able to use the LD that much--just short trips.  If I am still healthy enough and able to drive in five years, I would like to RV extensively.  Now, my dilemma:  I still owe about $26,000 on the LD, and am paying interest on the loan.  It will be paid off in five years.  NADA suggested selling prices are $26,156 as low retail price and $31,508 as average retail.  I think LDs usually sell higher than NADA's pricing.  Will my LD be worth anything in five years?  Will I need to start pouring money into the LD?  What condition will it be in five years?   If I wait five years, will a new LD be out of reach financially?  I would hate to give up RVing these years, but wonder if it would make more sense to sell the RV now and hopefully buy a new LD in a few years.   Any thoughts or suggestions on my dilemma would be most welcome.  Thank you in advance.
Monica
2017 MB
Re: Need Advice to Sell or Keep Lazy Daze
Reply #1 –
Yahoo Message Number: 136017
RVHiker(?),
 Based on the ' LD Asking Prices 2012 ' file the current asking price for a 2003 24' should be around $34,000: http://f1.grp.yahoofs.com/v1/kK3pUMkRi-fdCgdR0SusLNT2ZPPPcGGT0CXGnKi5f0uk3vbxjaKa3hN5iXAs68qOzggBZbVcCOuadJ-VmcxfjbsjcIGdixvXm0k/Buying%20%26%20Selling/LD%20Asking%20Prices%202012

Based on earlier asking price files, for the last 4 years LD has increased the price of their models by $2000 per year.  Based on this, in five years, I would expect the cost of a new 24' to be about $90,000 in 5 years.  Your LD would be 14 years old  at that time, and 14 year-old LDs have an asking price of about 26.5% of the new price of the same model, so I would expect an asking price of about $24,000 at that time for your 2003.
 You don't say how much you are paying for storage and if it is indoor or outdoor.  If it is indoor and you exercise it or use it periodically (every 2-3 months), I would not expect any serious problems with storing it.
 You have to balance the cost of storage, the loss of about $10,000 in value and the cost of payments on the loan against the $90,000 (estimated) for a new model in 5 years.  There is also inflation of the $ to consider as it may go up if the US keeps spending bail-out money.
 My personal feeling is that if it is in inside storage that is not too expensive I would probably keep it, but others may have other opinions to offer.

HTH

Barry
Re: Need Advice to Sell or Keep Lazy Daze
Reply #2 –
Yahoo Message Number: 136022
Hi RV Hiker, Wow!  A big decision.
 My immediate hit was sell it!  No matter what, the LD will depreciate over time and then it will be 14 years old.  Motorhomes are really designed for driving not storage. And...lots of things can happen over the next five years where you wish you had the money and no debt.
 The nice thing about LDs is that there will be other used ones on the market to purchase when you are ready. Most likely a newer year at a lower price.  When I think about our small storage center at $66 a month for what we thought were personal trreasures five years ago, we are now ready to give everything to our kids or sell what's remaining...or just get rid of it.  Hard to believe that we've spent nearly $4000 just storing stuff.  Gads!  Could have puchased all new stuff in a few more years for much less.

So, in summary, if I was in your position, I would sell it.  And, I'll add one more suggestion (for anyone near retirement), get rid of any debt before leaving your work.  Dave Ramsey's programs have got it right.  Retirement without debt is a blessing.

Happy Travels now and in the future, David (1998 LD MB)

__ From: rvhiker22 monbri22@...>
 To: lifewithalazydazerv@yahoogroups.com
 Sent: Sunday, January 6, 2013 8:53 AM
 Subject: [LD] Need Advice to Sell or Keep Lazy Daze

When I purchased my 2003 Twin-King almost ten years ago, I had planned on full timing.  I was unable to do so due to family events.  I have put on about 66,000 miles and have thoroughly enjoyed my Lazy Daze.  I moved and no longer can park the LD at home and am now paying for monthly storage.  For the next five years or so I probably will not be able to use the LD that much--just short trips.  If I am still healthy enough and able to drive in five years, I would like to RV extensively.  Now, my dilemma:  I still owe about $26,000 on the LD, and am paying interest on the loan.  It will be paid off in five years.  NADA suggested selling prices are $26,156 as low retail price and $31,508 as average retail.  I think LDs usually sell higher than NADA's pricing.  Will my LD be worth anything in five years?  Will I need to start pouring money into the LD?  What condition will it be in five years?   If I wait five years, will a new LD be out of reach financially?  I would hate to give up RVing these years, but wonder if it would make more sense to sell the RV now and hopefully buy a new LD in a few years.   Any thoughts or suggestions on my dilemma would be most welcome.  Thank you in advance.

[Non-text portions of this message have been removed]
Re: Need Advice to Sell or Keep Lazy Daze
Reply #3 –
Yahoo Message Number: 136049
I would suggest assessing your overall financial status and depending on how that goes, make your decision using the outcome of that process as a guide. I am borderline able to afford the LD I bought in Oct but went ahead with the decision to do it because I am in pretty good shape financially, although my income is down from what it used to be.
Todd (and Steve)
'17 Winnebago Minnie Winnie and '13 Honda CRV
(Former '99 RB owners from 2012-2016)
Re: Need Advice to Sell or Keep Lazy Daze
Reply #4 –
Yahoo Message Number: 136057
Not only will the value of your LD decrease over time, but you will likely need to replace or repair some items, and spend a considerable amount in storage fees over that five years.
 I think the prudent thing would be to sell it now, and then purchase a slightly used one when you are able to RV again. Save your costs and put away an amount for those years in anticipation of a getting another LD.
 It so happens I am retiring this year, and would like to buy an 03 Twin-King like yours at a fair price. If you think you might sell please contact me pleinguy (at) gmail.com

Good luck with you decision, David
Pleinguy : Full-Timer
2004 Twin-King "Tardis"
PleinAirJourney.com