Posted 2009-03-04 12:06 PM (#100629) Subject: economy and trailers
Member
Posts: 42 Location: elkhart indiana
unfortananetly trailer and Rv are in the same boat as the housing industry right now. the banks are not lending the money to the dealers as easely as it once was, (their is alot more, but we will stick with that for know.) Even if some of our dealers have customers in hand with the big down payment they are getting turned away by the banks, in return their is less orders coming into these manufacures, Some have closed up shop but there is quit a few that are just weathering the storm and are trying to build up a backlog to be able to run production. In otherwords, they are not going to ramp up for only a couple of orders, that is a waist of money by the time you put in all your overhead. so they are taking orders but they might not open back up untill they get a full back log of orders. That does not determin who is the better manufacture it is just better buisness sence for right now. If only we could get obama to give $8,000.00 to new first trailer owners for now that would help!!!!! Agin their will be alot of people out of work for a while over this, some will return and some will not. It is to early to be putting the final gudgement down on any Manufacture.
Posted 2009-03-04 12:46 PM (#100634 - in reply to #100629) Subject: RE: economy and trailers
Expert
Posts: 1283 Location: Home of Wild Turkey Whiskey
As bad as I hate to admit it, I'm a salesman. Some of what you say is true about the credit markets but not all. If you have a 670 or above credit score and at least a 15-20% Down payment, plus a resonable income to debt ratio, you can get financed. I am getting people credit everyday in this range. I personally have bought a new boat and a used RV in the last 60 days, I also refinanced my house 60 days ago. Money is out there, banks are loaning. They are just being alot more responsable, "TO ME THAT IS A GOOD THING". It will take a little while for this to shake itself out, bottom line is, we where "living way above our means" for a very long time.
The strong businesses will survive, those with inflated books will not. It takes cash reserves if you don't have the orders flowing. We will find out who those folks are in the next 6-12 months.
Posted 2009-03-04 2:13 PM (#100641 - in reply to #100629) Subject: RE: economy and trailers
Expert
Posts: 1723 Location: michigan
The last thing we need is for the governement to give out TAXPAYERS money( its not Obamas money) to someone who can't afford a HORSE trailer in the first place.
The fastest way to resolve the current ecomonic problems is to let it play out. Allow those who bought more than they could afford to lose it. Its sounds harsh but when you allow the market to operate, it will resolve itself faster than if you pump in taxpayers money to save some people. The result will be the same- those who cannot afford somethine will lose it eventually.
The trailer companies that have operated in a fiscally responisble manner will likely survive the down turn and remember - there is nothing new here. Ecomonies have their own cylce of boom and bust the difference here is we have a government that is being rub by people who do not like capitalism- rather they are replacing it with socialism and socialism fails everywhere its tried.
Obama has repalced the wealth and freedom of capitalism with the long term doom of socialism. Hope and change- you asked for it.
Posted 2009-03-04 2:41 PM (#100646 - in reply to #100629) Subject: RE: economy and trailers
Member
Posts: 42 Location: elkhart indiana
The obama thing was just a joke! agree with you totaly!!! that 8,000.00 aint gona help me a bit! I'm sorry if you took it the wrong way I kind of have a sarcastic way of looking at things. most of us came by bying our homes the hard way. Din't get any help their. And when he came hear to speek, All he talked about was going to build new roads to help get our workers back to work?!?! I'm still trying to figure how roads and trailer workers some how conect into getting our jobs back. I just got my taxes done and thought wow what a good chunk I get back, untill I actualy seen what I paid in, makes me sick. but it will all wash out agin and in a few years the main taxpayers will not even relize that we have just paid for the 2009 new homebuyers down payment on their new homes.
Posted 2009-03-04 3:54 PM (#100651 - in reply to #100629) Subject: RE: economy and trailers
Member
Posts: 40
I would have said the same thing 25 years ago. Not popular but here goes.
Horse trailers (and boats, and RVs) are luxuries, not necessities. You should save up and pay cash. Maybe you have to buy used, or smaller than you like. Maybe you have to build your LQ into your trailer. Maybe you have to "make do" while you save your money. But once you buy your trailer for cash, it is YOURS and you don't have to pay half again or more to a bank.
I don't think it was EVER a good idea to loan money for luxury items, and it is an even worse idea today.
Posted 2009-03-04 4:54 PM (#100662 - in reply to #100651) Subject: RE: economy and trailers
Veteran
Posts: 241
But we are Americans.... we want it now! I agree with you. I bought a boat once on credit but every other "toy" I have bought was paid for with cash, including the trailer I will pick up from the dealer in a few weeks. I have a hard time feeling much sympathy for folks who take financial dives because of their inability to manage their personal finances. I'm not talking about businesses that are going under, Im talking about the guy who willingly spreads himself to thin financially. All people do not deserve to own boats and trailers and trucks and horses and nice homes, we only get these things if we are willing to work for them.
Posted 2009-03-04 5:34 PM (#100668 - in reply to #100629) Subject: RE: economy and trailers
Regular
Posts: 80 Location: Tracy, CA
eclipse, proably 95 % of the people, including my self cannot afford to pay cash for thier toys, thats why we have credit unions and banks. If the banks were more responsible in thier lending practices and only lent to qualified buyers we wouldn't be in the mess were in. This country runs on credit......
Posted 2009-03-04 7:41 PM (#100680 - in reply to #100629) Subject: RE: economy and trailers
Expert
Posts: 1989 Location: South Central OK
I agree about paying cash, problem is we've trained a generation that saving is for old people and if you have plastic (credit) you can have it today.
I used to teach high school and I can't tell you the looks I got when I talked about saving for something, example their first car. I'd say over 90% of my students would have said, "if you can make the payments you can afford it." How's that for scary!
Save your money and the bank pays you, spend the bank's money and you pay them.
Posted 2009-03-04 8:30 PM (#100682 - in reply to #100629) Subject: RE: economy and trailers
Elite Veteran
Posts: 714 Location: Minnesota
The saddest part right now is that the banks aren't paying you to keep your cash. Times are a little tight right now but luckily I am debt free except for my home, which even with lowered property values is still at better than 50% equity.Obama has spent more money in his first five weeks than Bush did last year in Iraq. Of course the stimulus will help me. I can't wait until my $13 per week shows up so I can spend it somewhere that will surely go over seas. Or maybe I would be better off buying a cup of coffee twice a day at the local C-Store.
Posted 2009-03-04 8:47 PM (#100684 - in reply to #100682) Subject: RE: economy and trailers
Veteran
Posts: 188 Location: Kinston, NC
Just for fun, I have my eye on a boat worth $10,000. If I save my extra $13 per week, assuming a good 8% return (compounded weekly) and 3% inflation, I will have enough money for a boat in approximately 12.5 years. Of course my fantasy world does not include taxes. haha, bring on the $13!!!
Posted 2009-03-05 3:06 AM (#100694 - in reply to #100684) Subject: RE: economy and trailers
Expert
Posts: 3802 Location: Rocky Mount N.C.
Originally written by DD_TrailerMan on 2009-03-04 9:47 PM
Just for fun, I have my eye on a boat worth $10,000. If I save my extra $13 per week, assuming a good 8% return (compounded weekly) and 3% inflation, I will have enough money for a boat in approximately 12.5 years. Of course my fantasy world does not include taxes. haha, bring on the $13!!!
Bartly.... With all this global warming, by the time you get all of those $13's saved up, all the icebergs will have melted and the Atlantic ocean will have moved inland as far west as the intersection of hwy 11 and 241, "PINK HILL". You'll need that all that saved money to pay the taxes on your new beach front property.
Posted 2009-03-05 5:06 AM (#100696 - in reply to #100684) Subject: RE: economy and trailers
Expert
Posts: 1283 Location: Home of Wild Turkey Whiskey
Originally written by DD_TrailerMan on 2009-03-04 8:47 PM
Just for fun, I have my eye on a boat worth $10,000. If I save my extra $13 per week, assuming a good 8% return (compounded weekly) and 3% inflation, I will have enough money for a boat in approximately 12.5 years. Of course my fantasy world does not include taxes. haha, bring on the $13!!!
Hold on, you haven't accounted for the tax increase you will get when the Obamanomic machine lets the Bush tax cuts expire, in my case that will be about $90 a month- the $13 a week from Obamanomics looks to be a $38 a month loss. Now my question is if Obama giveth, but then Obama taketh, did I get a tax break?
economy and trailers
I agree with you. I bought a boat once on credit but every other "toy" I have bought was paid for with cash, including the trailer I will pick up from the dealer in a few weeks. I have a hard time feeling much sympathy for folks who take financial dives because of their inability to manage their personal finances. I'm not talking about businesses that are going under, Im talking about the guy who willingly spreads himself to thin financially. All people do not deserve to own boats and trailers and trucks and horses and nice homes, we only get these things if we are willing to work for them. 
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