Jim
Ringleader
therefore your MoHo has devalued by 50%
If he sells it for what he bought it for, how can it have been devalued by 50%. It hasn't.
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therefore your MoHo has devalued by 50%
Your Motorhome will have dropped in value against a new vehicle, so if you paid £50k five years ago a new model will probably be £90-£100k therefore your MoHo has devalued by 50%
Woah, I felt great before reading your post.Your Motorhome will have dropped in value against a new vehicle, so if you paid £50k five years ago a new model will probably be £90-£100k therefore your MoHo has devalued by 50%
Easy one Jim to buy the same MoHo which is say double the price you only have half the money for a new one therefor the asset has devalued. It has also devalued in inflation terms £39000 using inflation is £52,660If he sells it for what he bought it for, how can it have been devalued by 50%. It hasn't.
Absolutly and what a brilliant asset you have and may you enjoy it for a long timeWoah, I felt great before reading your post.
Oh well, I didn’t buy it to worry about the value I suppose.
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But then you’ve lost the whole lot?Bit like £100k in the bank earning 5% and saying I've made £5k this year no You've lost £5k if inflation has been 10%.
Best get it out now and spend it on a new van
Only if it hasn't diminished in true value as to be realistically valueless by the time rates improve (short medium term looks like rates only heading one way,but on the bright side same with inflation, although still likely to be a net loss especially if you're paying tax on interest)But then you’ve lost the whole lot?
Leave the £100k in there and wait for the rate to improve, as when rates do improve you’ve nothing to put in.
Grow up? That’s a bit strong. Are you the oracle where no one else’s opinions matter?So many of the figures quoted in this thread have been for 'Nominal Value' not 'Real Value', including inflation.
This makes much of the discussion meaningless.
Grow up Boys and Girls.
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Yes especially on a new one as for comfort it's new for old up to 3 years with mileage below 15k I think. For second hand then you would have to prove it's worth by looking at the market and finding same MH for sale for them to pay up.Also, you might want to consider what the insurance Company will give you if the MH is written off. Say you bought a £100,000 MH and just as you got it home it catches fire and is completely destroyed, do you think your friendly insurance co. is going to write a cheque for £100,000 ? I'd suspect not.
Gap insurance etc can be a good move for the first few years, I think you can get up to 4 years. When I had the break in I had this on my transporter, the insurance company gave me retail price and the Gap took it back to the price it was when new. If I recall correctly it was about £6k But don’t get it from your dealer go direct.Also, you might want to consider what the insurance Company will give you if the MH is written off. Say you bought a £100,000 MH and just as you got it home it catches fire and is completely destroyed, do you think your friendly insurance co. is going to write a cheque for £100,000 ? I'd suspect not.
Not nowGap insurance etc can be a good move for the first few years, I think you can get up to 4 years. When I had the break in I had this on my transporter, the insurance company gave me retail price and the Gap took it back to the price it was when new. If I recall correctly it was about £6k But don’t get it from your dealer go direct.
This is who I used no mess no fuss and the premium for the new transporter was much the same unlike insurance renewal!
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8 years and doubled. Ours is the same age.I've had mine 10 years and it's now 24 years old, gone up 25% in my ownership
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Our 2013 van is coming up to 5 years of being owned by us.
Out of interest, I put a search in to see how much they were now and managed to find an identical model for mileage and age.
I originally expected to lose about 3k a year in depreciation, which was acceptable based on the fact we use it so much and love having it.
So, how much have we actually lost?
The answer is nothing as it’s the same price as when we bought it.
That’s nuts!
I know Covid didn’t help, but how can a vehicle depreciate so little? The prices must drop soon surely?
Are you sure, our new van arrived in UK mid April and we had to wait till mid may to pick it up to get a slot when dealer had space. Certainly lots of vans on forecourt now but still people buying.Thinks are definitely changing as a my local dealers have huge stocks they can’t shift and are offering a piddly 2k off, it’s definitely a buyers market now, I just don’t think the dealers are ready to accept it just yet
The total number of motorhomes for sale on Autotrader is now over 12k. That’s a 25% increase in 3 months. I understand the typical average over previous years was more like 8k. There are also lots of discounts being openly offered on adverts which have not been about for the last few years. The next few months are usually when lots of sales are made so it will be interesting how it shakes out.Thinks are definitely changing as a my local dealers have huge stocks they can’t shift and are offering a piddly 2k off, it’s definitely a buyers market now, I just don’t think the dealers are ready to accept it just yet
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Easy one Jim to buy the same MoHo which is say double the price
Not sure it works like that £50k now is worth less in three years time, it’s still £50k with that I agreeNo, you are adding another transaction, why not include the next sale and the one after that before you calculate your devaluation
Simply If you buy for 50 and three years later can sell for 50. There has been no devaluation. What other things cost is irrelevant, how do you know what his plans are after a sale?
Grow up? That’s a bit strong. Are you the oracle where no one else’s opinions matter?
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What would have been the norm say in 2015 to buy a van for 50k keep it 3 years then trade in for the same new van? How much would it have cost to change?
I downsized. Effectively buying a smaller house in a better area so there was no large cash pot left over.Just a thought but with property prices where they are is older people downsizing and being left with large cash pots & also middle aged people who have about finished the mortgage & then inherited property ,going to sustain the market for new(er) MH's that will inturn sustain the older vehicle market ?
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