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Thread: economic decline
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07-19-2019, 03:39 PM #21
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2022 Imagine XLS 22MLE
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07-19-2019, 03:51 PM #22
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I don't think they'll say anything, BOA gets their commision back it's water over the bridge at that point for the dealer. I've never had to sign anything it's just a verbal "keep it for 6 months". It happened to me when I could buy a Ford truck $2000 cheaper financing than paying cash. So I did the 3 month deal "for the dealer" and paid it off.
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07-20-2019, 04:58 AM #23
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Minnow,
Yeah, when they’re playing with my money, that word “must” raises my hackles. Last car I bought, finance bank wrote me a nasty letter telling me that I MUST lower my deductible on my insurance. Wrote a letter back, after reading the agreement (a clause stated they were allowed to dictate the extent and scope of coverage, but nothing on how much I’d be willing to pay out of pocket). They replied with pretty much the same words as in the first letter, but included a new threat: we’ll cancel the loan. Within two hours, I struck a new (much lower interest deal) with my credit union over the phone (direct deposit of your paycheck seems to produce wonderful things-especially if you’ve been doing it for 20+ years). Within another day I cancelled the loan FOR them-to my benefit. Paid that loan off in half the time.
NLast edited by Houndbb; 07-20-2019 at 05:05 AM.
Bruce and Nancy
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07-20-2019, 08:04 AM #24
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But one thing that cannot be overlooked is the number of BabyBoomers that are retiring, and they're looking for something to do in their spare time.
Hotel prices are also going out of sight as my Visa bill shows with a $988 entry for 4 nights in Paris last month. I'm sorry, but $250-350 per night rooms in Nashville, Tennessee is not sustainable for those wanting to travel--even if just for weekends. We have got to the point that our only domestic travel is 300 miles to where our Reflection fifth wheel is stored in the mountains.
We'll just pray the politics of the world will settle down, and tariffs don't continue to push RV manufacturers to increase wholesale prices to dealers. I was reading Thor is down about 24% in total sales earlier this year.
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07-20-2019, 08:10 AM #25
We took a trip this year for the first time without an RV. California and Disney for 4 nights
Food, flights for 5, rental and shuttles, lodging
It was insanity.
1 trip cost as much as 3 decent ones in an RV.
Yes prices are going up and things are expensive. That said I would rather pay for an RV and the commitment and depreciation for the experience and have 2-3 trips a year vs 1 every other.
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2020 Grand Design Reflection 311BHS
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07-20-2019, 08:14 AM #26
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I was in the automobile business during the Jimmy Carter Voodoo Economic Years (late 70's, early 80's), and the most successful car dealerships were those that had the foresight to make quick changes in operations in order to scale up or scale down--according to future sales. Unfortunately the biggest expense in any business is in salaries and fringe benefits, which makes employee layoffs the first step.
2008 was unkind to the RV industry and many of the RV manufacturers we now see were built from the assets of out of business RV builders bought at 10% on the dollar out of bankruptcy. Hopefully the survivors of most retail RV stores (excluding Camping World) are well run operations and can make needed changes to weather a couple of down years in retail sales. I'm optimistic sales will recover, even if BabyBoomers have to resort to buying lower priced RV's.
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07-20-2019, 08:19 AM #27
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While I am hopeful for the economy in whole, I wonder if the RV market is saturated or is it over-sold?
New RVers are often disappointed when they are faced with the inevitable: gas prices, maintenance, storage, depreciation, and overcrowded campgrounds.
Booking campsites 6-12 months in advance is the new normal. It would not hurt my feelings to have less competition for camping.Jeff and Mary
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07-20-2019, 08:30 AM #28
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Yes, I actually started in this industry during the last economic downturn.
I had worked for Kellogg's in the Keebler division as a Territory Manager for 10 years, and then got the heave ho when things went downhill.
I've really only seen the RV industry come back, but I do know it is up and down all the time. Luckily, our dealership has weathered all of the ups and downs in the last 64 years of being in business.Steve- Inventory Manager at Tom Schaeffer's RV, Shoemakersville, PA www.tomschaeffers.com
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2021 Reflection 310RLS
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07-20-2019, 10:10 AM #29
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After 2008, the marginal quality RV dealerships went out of business as they couldn't cash flow the down times. The dealers that were left often were the older, well capitalized businesses that with great employees and experience.
We have seen some consolidation recently, especially with Camping World going around buying those old, good dealerships for prices the owners couldn't refuse. Now we see Camping World dealerships not performing as well as expected, and such operations quickly roll the heads of management and sales people when they don't meet their lofty sales/profit objectives. It would be safe to say that the old experienced salesmen are working elsewhere.
It's difficult enough shopping for a recreational vehicle without having to shop for a dealership at the same time. And I want to buy from one of the "good guys'--if I can find one. Be glad that you're working for one of the established dealerships. My good dealership in Knoxville, TN was recently sold to LazyDays, and hopefully there will be minimal changes.Last edited by Bamaman; 07-20-2019 at 10:14 AM.
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07-20-2019, 02:30 PM #30
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There is a reason why GD will not allow camping world have a GD dealership. GD is good at paying for mobile mechanics for warranty work but will not pay if you take it to camping world.
Marcy & Gary
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