Journey with Confidence RV GPS App RV Trip Planner RV LIFE Campground Reviews RV Maintenance Take a Speed Test Free 7 Day Trial ×
 


Reply
 
Thread Tools Search this Thread Display Modes
 
Old 07-01-2014, 01:47 PM   #1
Rivet Master
 
Foiled Again's Avatar
 
2012 25' FB Eddie Bauer
Vintage Kin Owner
Virginia Beach , Virginia
Join Date: Sep 2004
Posts: 7,801
Think you Cannot Afford a 'New(er)' Airstream?

Many years ago I worked in the banking industry. In my current business (telephone answering service) I have a lot of clients who are small entrepreneurs.

One of the fundamental things that I have learned is that many people get into big trouble because they don't understand the basics about money management.

I could easily exceed the max size limit for a single post just covering the basics - so instead I'll cover everything BUT getting an Airstream with a lick and a promise. Basically money is not magic, and comes in finite amounts. 50% of all lottery winners go bankrupt because their new spending habits exceed their new wealth - just like their old ones exceeded their former income. You can't have everything. No matter how much money you get you'll always need to know the difference between "WANT" and "NEED" and "REALLY NEED". You really need to have basic food, basic clothing and a safe place to sleep. Beyond that a way to pay for medical care and education is pretty darned important. Having a couple of thousand in the bank just for stuff that hits the fan, also vital.

It's very easy to get far too acquisitive. Do you have seven big screen TV's - thousands of dollars in sound systems, pay for Sirius when you could just plug in your Ipod in the car, have a $100,000 super kitchen and rarely cook in it, own more than 30 pairs of shoes, collect Rolexes and coins, and Japanese art, and and and and.... Uh. You've got too much stuff and an Airstream will add to the problem not cure it. (Unless of course you're selling off all but one of your collections to get the Airstream.)

IF you ARE financially responsible (not needing to be a raving miser, just not spending like the proverbial drunken sailor) you probably CAN afford an new(er) Airstream.

First, ask anyone who is waist deep in renovating one "how much do you spend every month on this project?" Have a box of Kleenex handy - the answer will bring tears to both your eyes. Next, while going into debt for something as "frivolous" as an Airstream seems borderline insane, third grade arithmetic could suggest that a $5000 downpayment for a new or newer Airstream, plus a monthly payment of $500 could... over at least the first two or three years.... be almost exactly what the out of pocket cost of getting into a renovation could cost. (Or if you're like Sergei and his famous Argosy cavalcade it could be far cheaper than doing a "Sistine Chapel" quality job.)

If you don't buy brand spanking new but get one that's a mere year old as I did, and you get bored, sick, over it, whatever... And you got something as popular as an Eddie Bauer, you should be able to unload it in a couple of years without taking a huge loss. And even with the down payment, monthly payments, loss upon sale... you'll still be likely to be at "break even" compared to doing a renovation yourself.

If you really can't afford a newish Airstream, could you get a job flipping burgers two nights a week and earn enough to pay for one? If you really don't LIKE to do renovation work or you aren't handy, this approach would actually be less work, however it would cut into your camping time too.

Of course, you'll be on the road from day one with a new(er) unit.
And if you DO count the cost of your labor into doing a reno... egad! Who really CAN afford to do a renovation. I personally think Colin does great work for reasonable prices, but I know having one done professionally is going to be like paying list for a new one at a dealer. The major benefit, custom work, high end finishes.

------------------------------
On the other hand - If renovating an Airstream is a fun family project, that brings you closer to your spouse and children and/or it just gives you a "high" and a priceless feeling of accomplishment, then Happy Renovating! No one should rain on that parade.

The only worthwhile caution is look around and ask yourself how many half finished projects you've had in the past. Or how many projects have you finished at the cost of being sick and tired of having them (like my old house - the money pit). Renovating another old house? OK, yes I would IF I won a $100 million lottery and had to do nothing more strenuous than point my dainty little finger at the construction manager and say "I want it done this way."

Paula
__________________
Today is a gift, that's why they call it the present.
Foiled Again is offline   Reply With Quote
Old 07-01-2014, 02:18 PM   #2
Rivet Master
 
Wayne&Sam's Avatar
 
2014 25' Flying Cloud
Cuddebackville , New York
Join Date: May 2007
Posts: 4,333
Images: 21
My first reaction is "What, they still have telephone answering services???"



Sent from my iPhone using Airstream Forums
__________________
2014 25' Flying Cloud Rear Twin
2019 Ford Expedition Platinum
Wayne&Sam is offline   Reply With Quote
Old 07-01-2014, 02:21 PM   #3
Rivet Master
 
DanB's Avatar
 
1970 23' Safari
2005 30' Classic
1986 31' Sovereign
Lorain , Ohio
Join Date: Dec 2005
Posts: 1,645
Images: 9
A valuable post! Thanks Paula.

Just be sure to set aside $65 for WBCCI membership.
__________________
DanB
________________________________
Proud Member of the Wally Byam Airstream Club #24260

www.campnova.com

The “Ohio Airstreamer -- Informal forum for weekend camping” thread.
DanB is offline   Reply With Quote
Old 07-01-2014, 02:23 PM   #4
2 Rivet Member
 
1974 31' Sovereign
1978 28' Argosy 28
Edmonds , Washington
Join Date: Jun 2011
Posts: 38
Images: 2
OR - you could buy an older Airstream, use it while you renovate it and sell it for more money than you paid. Put the profit into a savings account and use the original invetment to buy and restore another older one - rinse, repeat, etc. until you have cash to negotiate with. And I am not talking about spending $500 on a comlete overhaul, but more like $5000 -$6500 for a unit that is solid and doable to update and renovate/ repair, while fully functional. That's what we have been doing. Started with a $700 tenit trailer and worked up to a '78 Argosy motorhome. Dave Ramsey says that your total investment in transportation should never be more than 1/2 your annual income...that includes cars, trailers, motorcycles and boats. I'm afraid that the lottery is the only way we will ever be able to afford a new(er) Airstream. But we do welcome others' cast offs. ;-)
loriinwa is offline   Reply With Quote
Old 07-01-2014, 02:47 PM   #5
Rivet Master
 
DanB's Avatar
 
1970 23' Safari
2005 30' Classic
1986 31' Sovereign
Lorain , Ohio
Join Date: Dec 2005
Posts: 1,645
Images: 9
Airstreams are not "trailers", they are lifestyles!

The best investment I ever made was dropping a buttload on a newer trailer. I work hard, so I an choose not to spend my free time flipping trailers.

I do like your concept and congratulate you on your success. It's just not for me, I'd rather spend all my free time camping.
__________________
DanB
________________________________
Proud Member of the Wally Byam Airstream Club #24260

www.campnova.com

The “Ohio Airstreamer -- Informal forum for weekend camping” thread.
DanB is offline   Reply With Quote
Old 07-01-2014, 02:58 PM   #6
Moderator
 
Stefrobrts's Avatar

 
1968 17' Caravel
Battle Ground , Washington
Join Date: Dec 2002
Posts: 12,253
Images: 50
Blog Entries: 1
I bought an old trailer, used it while I renovated it, and I'm still using it ten years later. I've never found a layout I like as well as the one I've got. And I never went into debt for it - sold my pinball machine collection to pay for the initial investment I don't really have the yearning for a shiny new trailer at all.
__________________
Stephanie




Stefrobrts is offline   Reply With Quote
Old 07-01-2014, 03:32 PM   #7
Full Time Adventurer
 
BoldAdventure's Avatar
 
2007 27' International CCD FB
Nomadic , USA
Join Date: Jul 2013
Posts: 2,748
Spend less than you earn. If you can't live on what you have now, you'll have the same problems at all income levels. Solid advice.

However, there is a difference between a guy with 250K in a brokerage account financing 80K and a guy with 0 dollars in savings financing 80K.

Just like there is a difference between someone who earns 150K a year buying a 40K new car and a guy who makes 50K buying a new pickup truck because he can "afford" the monthly payments.

I have a classic Corvette, (it's for sale ;P ) and have spent plenty of time discussing restorations on the Corvette forums. Folks have a tendency to romanticize their projects. Under estimate true costs, ignore hidden costs, and basically all around lie to themselves about how much time and money they're spending. A few folks will eventually admit they've stop counting how much money they've spent. I can't see it being any different here.

Unless you're keeping a spreadsheet of everything you spend you might be romanticizing your savings.

Also, time is money in my book.

But then again, to some folks cars, and maybe airstreams are tools. To those of us who love them, it's no different then spending money on your kids.

Cheers
Attached Thumbnails
Click image for larger version

Name:	2012-05-03 16.28.07.jpg
Views:	353
Size:	457.0 KB
ID:	215405  
__________________
Family of 5 exploring the USA with a Ram Power Wagon & Airstream in tow.
OUR BLOG | INSTAGRAM
BoldAdventure is offline   Reply With Quote
Old 07-01-2014, 05:56 PM   #8
Rivet Master
 
mutcth's Avatar
 
2007 23' Safari SE
Central , Connecticut
Join Date: Jul 2008
Posts: 1,652
Good post Paula. Just to add a data point to this: it would have been FAR cheaper if I had just started out with an almost-new 16' CCD or Safari 20', the trailers that first attracted us to Airstream.

Instead, we bought the almost-new T@B (which had strong resale), restored an Argosy (great trailer, but money pit), and got the current Safari (which, according to the ads, hasn't depreciated in the 2 years we've owned it.)
__________________
Now: 2007 Safari SE 23' "Anne" towed by 2011 Dodge Durango "Herman"
Before: Argosy Minuet and T@B, towed by various Honda Odysseys
mutcth is offline   Reply With Quote
Old 07-01-2014, 06:27 PM   #9
Rivet Master
 
1999 30' Excella 1000
small town , Maryland
Join Date: Sep 2010
Posts: 802
Quote:
Originally Posted by DanB View Post
Airstreams are not "trailers", they are lifestyles!

The best investment I ever made was dropping a buttload on a newer trailer.
I thought you misspelled boat.
streaminwild is offline   Reply With Quote
Old 07-01-2014, 07:55 PM   #10
Rivet Master
 
PharmGeek's Avatar
 
2014 30' FB FC Bunk
Hoover , Alabama
Join Date: Dec 2012
Posts: 3,530
if you do not have a “fun budget”....or if this spending is simply stretching things to discomfort....severe heartburn and stress, buyers remorse, or financial problems will potentially ensue....

Since I became a working professional with money in my pocket (while years before I grew up with nothing)...I made sure all obligations both short, mid, and long term were taken care of, then I had a “care free fun budget”....its quite liberating...

Having 2 kids now makes budgeting freaking more complicated....seems like every month now is something totally different.
__________________
“The atoms of our bodies are traceable to stars that manufactured them...We are not figuratively, but literally stardust.”


PharmGeek is offline   Reply With Quote
Old 07-01-2014, 08:12 PM   #11
4 Rivet Member
 
withidl's Avatar
 
2002 31' Classic
Houston , Texas
Join Date: Oct 2004
Posts: 442
Images: 1
What is MONEY?

As I see it, the real problem is that most people don’t understand what “money” is. Over the years I have ask many to define “money”; and very few can really do it; it seems to be an intangible to most.

Definitions of money address what money does, but not what it is. Money quite simply = effort/energy over time. If you put out the physical or mental effort/energy over time you acquire money as a medium of exchange with others.

Once one realizes that money = effort/energy over time, they can more readily assess whether they have accumulated or can put out enough effort/energy over time to afford an Airstream or whatever standard of living.

I believe people get in money trouble because they feel like money will just eventually happen, not relating that it only happens through diligence on their part.

Now I’ll climb down off my soap box.
withidl is offline   Reply With Quote
Old 07-01-2014, 08:19 PM   #12
Rivet Master
 
Piggy Bank's Avatar
 
2019 27' Flying Cloud
Kansas City , Missouri
Join Date: Apr 2014
Posts: 1,962
PhamGeek,
I have seen lots of your posts, you seem to have good priorities.

Smiling kiddo on your back, and Happy Wife in a well-chosen lawn chair. Having 2 kids is an "it's always something" financial experience for sure. But I can tell you that having just squeezed through the other side (Got both out of school. One working and the other going to grad school), that somehow, you just figure it out as you go.

Paula, I think you are trying to say that if you are in the situation of evaluating the FULL COST of nearly new vs used-but-needs-some-updates, that it is easy to rationalize and fool yourself if you are not careful about how much things will cost on the project. Very similar to houses that need work. There are handy people who like to tinker around, and can enjoy a fixer upper. There are folks who know they are not handy, and will budget and save accordingly to get a house that doesn't need updating. And then there are the sorry folks who think that being handy is easy, cheap, and fun and they get into a hot mess.
__________________

Piggy Bank
Piggy Bank is offline   Reply With Quote
Old 07-02-2014, 07:09 AM   #13
Full Time Adventurer
 
BoldAdventure's Avatar
 
2007 27' International CCD FB
Nomadic , USA
Join Date: Jul 2013
Posts: 2,748
Quote:
Originally Posted by PharmGeek View Post
if you do not have a “fun budget”....or if this spending is simply stretching things to discomfort....severe heartburn and stress, buyers remorse, or financial problems will potentially ensue....

Since I became a working professional with money in my pocket (while years before I grew up with nothing)...I made sure all obligations both short, mid, and long term were taken care of, then I had a “care free fun budget”....its quite liberating...

Having 2 kids now makes budgeting freaking more complicated....seems like every month now is something totally different.
We have one. I did a Dave Ramsey thing way back when I was 22. Good advice, but his advice will only ever take you so far.

I developed my own 30/20/50 plan around 24yrs of age, and I've been sticking to it ever since.

30% is our income is our living expenses. 20% is what we use for whatever. 50% is savings and investments.

As my income grew so did my living, but it never grew more than 30%. This formula pretty much is what is allowing us to go full-time with newer vehicle and trailer.

__________________
Family of 5 exploring the USA with a Ram Power Wagon & Airstream in tow.
OUR BLOG | INSTAGRAM
BoldAdventure is offline   Reply With Quote
Old 07-02-2014, 09:32 AM   #14
"Tinbad ... the Trailer"
 
Del Gurney's Avatar
 
1971 25' Tradewind
1965 26' Overlander
Ferndale , Washington
Join Date: Mar 2011
Posts: 356
Great Post.
To me, my AS is a tool = home (30 months full timing)

I put a lot of time/energy = money to afford it.

If I don't use or see something on a daily basis
I get rid of it.

"Institutional lending is a form of slavery" especially
if the borrower is not money savvy. Back in the day
our schools had classes called "Home Economics".

There should be as part of our educational system
a rigorous means of understanding credit/borrowing
from an early age and subsequent follow up through g12.



.
Del Gurney is offline   Reply With Quote
Old 07-02-2014, 10:44 AM   #15
Rivet Master
 
rodsterinfl's Avatar

 
2006 25' Safari
St. Augustine , Florida
Join Date: Oct 2011
Posts: 2,670
Images: 10
This forum never ceases to amaze me. Everything is covered. I was raised to avoid borrowing at any cost. I have stuck to that- mostly. I have borrowed for short periods of time. As for Airstream:

I wanted new and, could have purchased one on time easily. As I shopped two used Airstreams were traded in- an 06' Safari 25 rear twin and an '07 Safari 25 SE front queen. The '06 price was less than half (52% less) of the new 2011 FC 25 rear twin model ($54K negotiated) and the '07 was (32% less) but had a huge dent in the rear corner. There was a $12K difference in the two used trailers- $14K once the panel was replaced. The five-year-old Safari twin trailer was different- vinyl ceiling and covered walls along with no pano windows; but, when I looked at it the important things were there- floor plan, condition, etc. To date, I have added $14K of updates, replacements and upgrades to it but it is top notch stuff. (also includes hitch, gen, etc). I am still way below the new one and I was able to do this with "freed" money. The thing is, I would have wanted to do some of this to a 2011 as well but would have been limited in my discretional funds.

I am somewhat concerned that I may have purchased too soon on my timeline. I am not retired and my time off is greatly limited. I have not camped much at all in it thus, violating Del Gurney's use or see principle. The redeeming factor is that I have free storage in a warehouse since I purchased it- this may soon end but at least the past two years have been inexpensive to say the least and offered a great place to work on it. A renovation would have been overwhelming to me, a new first RV owner and totally unaware of what such an undertaking would cost. So, I bought a newer model.

The use issue is more a concern for a single person as everything is more limited including budget- in most cases. Most often families camp so it is somewhat more justified. People do camp with me but in the end, it is my wallet. Hopefully I will be able to fulfill my goal of summer Airstreaming and working in a few years.
__________________
WBCCI 8653/AIR 60240
2022 Ford F150 PowerBoost Platinum w/7.2KW
rodsterinfl is offline   Reply With Quote
Old 07-02-2014, 06:30 PM   #16
Rivet Master
 
Currently Looking...
asbury park , New Jersey
Join Date: Nov 2009
Posts: 905
While a bank might say I can afford a loan for an $80k airstream, I say I cannot afford a new airstream. I *used* to think I could if I wanted to, but I live more modestly now. Our mortgage (30yr) used to be 50% of our income. Now we make much much less, BUT our mortgage is 20% or less (13 yrs left on a 15 yr mortgage). Our only other debt is one car payment.

Our last trailer , we spent about $13k on and it appraised at more than triple that. Being financially conservative now, I'd rather invest my time rather than cash. Our current reno budget is $10k.

Also, I don't have to take out a loan to finance an initial purchase of a vintage trailer and to invest a few hundred extra every month when i have it.

If work slows down, the project gets paused. You can't pause a loan.

Lastly, not only do I love and prefer vintage (I know not the point), but I think a $15k airstream is much more "affordable" for us than a $50, $80, or $120k airstream is.
NJtoNC is offline   Reply With Quote
Old 07-02-2014, 06:54 PM   #17
Moderator
 
blmitch5's Avatar

 
2006 19' International CCD
Olathe , Kansas
Join Date: Oct 2009
Posts: 4,224
Images: 1
We love our 06 Bambi! Bought it used over 4 years ago and we could have bought a nice car for the $$ we spent but all of the friends and experiences we have had! Owning an Airstream is one of the best decisions we have ever made! It's a life changer!
__________________
Get involved and sign up for a Rally!
https://www.airforums.com/forums/calendar.php
WBCCI 4973
blmitch5 is offline   Reply With Quote
Old 07-02-2014, 07:12 PM   #18
Moderator
 
Stefrobrts's Avatar

 
1968 17' Caravel
Battle Ground , Washington
Join Date: Dec 2002
Posts: 12,253
Images: 50
Blog Entries: 1
Quote:
Originally Posted by rodsterinfl View Post
I am somewhat concerned that I may have purchased too soon on my timeline. I am not retired and my time off is greatly limited. I have not camped much at all in it thus, violating Del Gurney's use or see principle.
What is the use or see principal?

We also do not use the trailer as much as I wish we did, but we have free storage, and it's paid for. Our only ongoing expense is insurance.
__________________
Stephanie




Stefrobrts is offline   Reply With Quote
Old 07-03-2014, 08:01 AM   #19
Rivet Master
 
rodsterinfl's Avatar

 
2006 25' Safari
St. Augustine , Florida
Join Date: Oct 2011
Posts: 2,670
Images: 10
Think you Cannot Afford a 'New(er)' Airstream?

I believe he said use or see it on a daily basis.

It is a good discussion as others consider these things too. So, some like vintage and are willing to pay as they go. Others buy near used, to save and add options they want. Buyers of new units want the warranty and latest additions. It is a good point to make about the cost factor. There is so much at play, discount off msrp, depreciation, age, condition, warranty- for me, if I would've purchased new my warranty would be expired already with only about a month's worth of camping done.

This is one thing that is special to this brand- a swath of genres to choose from- 40's, 50's, 60's all the way through to new. Not many products offer such an option in the RV world on a larger more affordable scale- almost like a VW bug! Yes, there are the special campers, ten left in the world type thing, but they have to recreate and machine everything as there are no parts and the company long gone- more expensive and those cool old buses but again at a smaller scale.
__________________
WBCCI 8653/AIR 60240
2022 Ford F150 PowerBoost Platinum w/7.2KW
rodsterinfl is offline   Reply With Quote
Old 10-17-2014, 10:14 AM   #20
1 Rivet Member
 
Currently Looking...
Minooka , Illinois
Join Date: Oct 2014
Posts: 13
Quote:
Originally Posted by rodsterinfl View Post
I believe he said use or see it on a daily basis.

It is a good discussion as others consider these things too. So, some like vintage and are willing to pay as they go. Others buy near used, to save and add options they want. Buyers of new units want the warranty and latest additions. It is a good point to make about the cost factor. There is so much at play, discount off msrp, depreciation, age, condition, warranty- for me, if I would've purchased new my warranty would be expired already with only about a month's worth of camping done.

This is one thing that is special to this brand- a swath of genres to choose from- 40's, 50's, 60's all the way through to new. Not many products offer such an option in the RV world on a larger more affordable scale- almost like a VW bug! Yes, there are the special campers, ten left in the world type thing, but they have to recreate and machine everything as there are no parts and the company long gone- more expensive and those cool old buses but again at a smaller scale.
We currently own a 2014 Minnie Winnie travel trailer, I would love to buy an airstream, but the wife doesn't think we can afford it. I really believe they are built to last. I am tire of this fake wood and fiberglass materials, it seem that everything is so cheap. Are you really happy with your airstream?

Thank you,
Kennedy>>
Deerhunter1 is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Can't afford the Airstream? tmarquis On The Road... 53 06-18-2013 08:37 PM
"I think I can, I think I can, I think I can".... 2Rhinos Repairing/Replacing Floor &/or Frame 14 08-17-2011 01:39 PM
Can't Afford The Rally, IL TinLoaf Forum Rallies & Meet Ups 25 07-04-2011 04:37 PM
THANK YOU - Cannot believe we're finally "official" members of the club scotttho Member Introductions 3 06-13-2009 02:42 PM


Featured Campgrounds

Reviews provided by

Disclaimer:

This website is not affiliated with or endorsed by the Airstream, Inc. or any of its affiliates. Airstream is a registered trademark of Airstream Inc. All rights reserved. Airstream trademark used under license to Social Knowledge LLC.



All times are GMT -6. The time now is 12:41 AM.


Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.