RV Industry Update: RV factories might be in HUGE TROUBLE! Plus more

We will be talking about RV loans and financing updates. This will include downpayment trends and interest rate updates. We also will be covering the used RV market, Non-disclosure agreements, a court case that may be bad for RV factories, and misc. subjects for the month of May 2024
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[@BroJerHWG]

The garbage peddlers, gaslighters and scam artists will soon be NO MORE. The consumers are fed up..❤

[@tech-test-break-fix]

I am enjoying the come to jesus that is happening right now with the RV industries. Every safety issue needs to be reported to NHTSA and documented. Screw through a wire, gas leak, cracked frame,,,,,report it. Rv Customers have been too nice for too long.

[@superstraightflyer]

The DOT needs to regulate RV manufacturers , they do not give a crap about their customers or their safety.

[@HBRVLifestyle]

The majority of RV manufacturers do care about their customers

[@plainandsimple2576]

Yes, more Government involvement, They are doing so well in everything else they run!😂

[@kodsaquadude]

@@plainandsimple2576😂

[@iggychloe]

It's been the same story about the RV industry being in big trouble for years and yet they still thriving and actually growing.

[@keithburton3713]

Exactly, that’s why I have no sympathy for these people who keep buying these RVs that fall apart. Ignorance or stupidity ??????????

[@lynnettep9517]

@@keithburton3713necessity. I see my future and it’s in an rv, but the one I live ft in is over 10 yrs old. So glad it’s still roadworthy.

[@user-uc9wv8hy5p]

Concerning manufacturers delivering too much RV product to dealerships to artificially inflate the manufacturer's financial performance. There is a well-known legal concept and term of art that has repeatedly been recognized in court cases throughout the United States: "channel stuffing." Even googling the term should provide plenty of well-known examples of this doctrine in action.

[@tutttutt9558]

I’ve been shopping for a used TT. ALL of the private sale listings are DOUBLE the JD Power values. And they won’t negotiate. I’m betting they owe that much on their rigs.

[@HBRVLifestyle]

Absolutely spot on

[@steverobinson1598]

Heard about you from Greg Carlson. You need to replace the battery in the clock behind you.

[@HBRVLifestyle]

I’m replacing the clock

[@lyfandeth]

I like your stopped wall clock. Or is that a secret message?

[@HBRVLifestyle]

It’s just loud so I removed the battery

[@Kevin-midmichigan]

Awesome information. 👌 keep it coming

[@CaptainFantastic79]

Also, I agree 100% with the stupid move of Moix and Brinkley...its the new kid on the block but its not that inovastive - I'm not sure how so many people are cult like about them. They are having issues just like all the other manufactures, they just have a great social media and marketing presense. Remember, this is from the guys that gave us Grand Design!

[@mcgilm69]

No one is saying that Brinkley RVs haven't needed to be serviced. The difference is that they own it and their customer service has been top notch in getting customers rigs repaired.

[@CaptainFantastic79]

@@mcgilm69I know several owners and they feel let down that the attention was immediate but now that rigs are in service and held up at the stores, mixed with slow responses to getting things fixed is the frustration. There’s no excuse for still having an archaic way of dealing with warranty work. Broken system that manufacturers have no incentive to fix.

[@davidmahoney7960]

I totally agree with you. Great video

[@HBRVLifestyle]

Thanks for watching!

[@user-nr7jm1so5j]

Build expensive, rotting junk ... you get ... welll bupkiss. Nada, zip, zero.

[@kristenmccreary8692]

@HBRV Lifestyle when you go to the Brinkley dealership please ask them whether they inspect and as a result of that inspection, have rejected any frames from Lippert for their Model G toy haulers. Please also ask them if they put a) the correct lag screws for the holes when they are attaching the body to the frame and b) do they ensure that EVERY lag screw hole, in fact has a lag screw. 🙏🏼 Want to purchase a toy hauler and had thought I was going to settle on Brinkley. Can you expound on some of the things you’ve heard from Brinkley owners who have not posted anything on social media? Thanks for the information you bring to the community.

[@HBRVLifestyle]

You are welcome. Anything negative with Brinkley is kept quite for the most part. Sounds to perfect in my opinion. They will never let me near one on the lot or the factory. So I cannot give you an accurate assessment. Some Brinkley owners have offered, but they live on the east coast and I have not had the time to book the ticket and go. I will say from what I understand is they have a thicker frame just like Redwood, Mobile Suites, Riverstone, etc. Seems like the bigger frames are not being as effected by the frame failure as those used by Grand Design. I would say though go look at the history of the owners of Brinkley. How long until they are not longer privately owned. If you look at past history of the majority of the owners.....you will get a sense of where I am going. Do not look at the "lipstick" take another look at Riverstone 5th wheel toyhaulers, Mobile Suites, Genesis Supreme RV, Keystone Fuzion, etc... before you pull the trigger on Brinkley

[@birdlady2725]

Seeing how the costs for rv's and motorhomes are now costing more than what I paid for my home, I am not surprised the banks want some skin in the game (plus, these homes can travel, so....). Add that they lose value as soon as you drive off the lot. They don't want to lose their shirts.

[@allandam7032]

Are the frame flex and frame fail problems for the Grand Design fifth wheel only? or any other as well?

[@HBRVLifestyle]

There are some brands that’s have a very small percentage. But it is way more predominant in Grand Design by Far

[@shakew8]

Rates have actually started going down the last several weeks with some of the bigger lenders. Also, while you're correct that banks don't like $0 down deals, this isn't a new trend. It's been that way for a couple of years now. There still are banks that will easily approve you with $0 down, especially in amounts under $50k, but you will always get a better approval the more equity you put in initially...and that doesn't always have to be cash, it can be trade equity. Some lenders have also improved their programs to where they will finance longer terms at smaller amounts. For example, there is a lender that will finance 216 months for loans over $12k. Overall, the industry is healing and the market is improving.

[@HBRVLifestyle]

You must be a dealership. Rates are not going down yet. Lets give some context to what you are saying. 1 bank does 216 months and they are a "subprime" lender called Aqua Finance. Rates will go up. I already have talked with several folks at the bigger banks. They are anticipating a rate increase either here in June or beginning of July. For your sales guys this would be a great motivator for getting people to purchase sooner, since it is possible that they will save money on the interest rate. Next $0 down loans are getting harder. I have had five 800+ fico scores that are what we call "Balls" credit. Can buy a $150,000+ coach if they so choose. Major Banks and credit unions are sending counter offers for 10% down on the majority of those applications. As always I like to add context.

[@jeffreyedwards5808]

I found a 2024 jayco 27rks out the door for 39,946 do you think this is a good buy, jayco seems to be dropping there prices , is this a sign of things that are on the horizon! Love your content !

[@HBRVLifestyle]

depends on where you live. thanks for the support. transportation costs vary depending on states

[@jarrsong]

You’re the best honey badger. Trust buddy.

[@donaldally7314]

Dude! It’s still 3:42.😂

[@HBRVLifestyle]

Lol

[@davidmahoney7960]

Looks more like 8:15

[@steverobinson1598]

You used ok 67 times in this video. FYI.

[@Chicago_Clout]

It is OK.

[@timjarrett3596]

When he was talking about used rvs the interpretation is= we are selling it for more than it's worth so you have to have a big down payment because the bank want finance it

[@HBRVLifestyle]

That is not true at all. There is a retail version and there is a wholesale version. let’s say the real retail version without putting a bunch of extra adds in the book is $20,000. Lenders right now are not lending based on retail. They are basing it on lending back of wholesale. So let’s say the wholesale book is $16,000. That doesn’t mean the trailer or motorhome should sell for $16,000 that’s the lending value. a private or a deal if it’s in good condition should still get $20,000 for it.

[@timjarrett3596]

So your saying banks have access to the wholesale value instead of going by nada ? Hmmmm things have changed a lot in the industry. Wholesale is usually around 20% less than low retail value​@HBRVLifestyle

[@timjarrett3596]

@HBRVLifestyle I think your getting low retail and the wholesale value confused. I don't think I ever seen a bank finance full retail on a used unit. If your trying to sell it for full retail you should be ashamed of yourself

[@HBRVLifestyle]

@@timjarrett3596 Tell private sellers that take good care of their stuff that lol.

[@HBRVLifestyle]

@@timjarrett3596 That is false information unfortunately. Wholesale book is through JD Power/Nada. It is not a percentage of low retail. It is different for every year make and model. There are 2 KBB bookouts for cars, and there is 2 for RV bookouts through JD Power/Nada

[@bassmonk2920]

Not the 200k class B vans

[@KeithR1250]

Didn't you already talk about Tommy's boats in another episode?

[@HBRVLifestyle]

On the podcast. Not here on the main channel

[@CaptainFantastic79]

I'm fine with 10% down but what I'm not fine with is the extra points the dealer adds on and the bank allowing it. Its a miricle that a recent offer went from 9.5% to 7.5% when I said pass - that's a big leap. Also, people need to wake up and stop thinking their "$350!" advertised payment is attainable - thats PERFECT credit and just a way to scam you into the door. You're credit score will not be what you think it is.

[@HBRVLifestyle]

In normal situations, Dealerships get paid flats. Sometimes they can mark up the rate, however even with a marked up rate....its still better then the credit union retail rates in this moment. Now...that being said....there are dealerships that do things differently than I do. Most dealerships right now because of the weirdness with interest rates....are telling sales and desk managers to pencil everything at 9.99%. Most of that is from the wackiness.

[@CaptainFantastic79]

@@HBRVLifestyle I hear ya but I'd rather do business with my credit union, but the only way to get the advertised sale price is financing with their bank. I dont need it that bad - so I walked. Since MSRP is a made up number, unlike automobiles, the dealer would rather play games then sell something that's been on their lot for 200+ days.

[@HBRVLifestyle]

@@wadecunningham1528 this is half true. Most dealerships use Credit unions thru CUDL and get a flat from the bank. Also there is Source One and other banks through App One and Dealertrack that pay flats. Anywhere from 1% all the way up to 5%

[@HBRVLifestyle]

@@CaptainFantastic79 so if your credit union is at 8.99% and the marked up rate and the dealer is 8.24%…you would rather use your credit union?

[@CaptainFantastic79]

@@HBRVLifestyle is the out the door price contingent on their bank financing? Then yes. .75 isn’t a big enough savings.

[@djdigital3806]

I just financed a 2024 Coleman 17b Bunkhouse for 13K. I only put $500 dollars down. The next week Camping World called me and told me to pick up the RV. They gave me V.I.P. discount of $1,000 because l’m a Las Vegas Dj who committed on their KZbin page. My credit is not good but they gave it to me anyway!

[@HBRVLifestyle]

Cool

[@mbrown1519]

20 year loan on an RV how many 2004 RVs are still on the road you're obviously looking at more trailer than you can afford.

[@HBRVLifestyle]

Trailers do not typically finance for 20 years.

[@j.l.salayao8055]

A Honey badger never backs down even if it causes his own life. A fake one is someone who claims to be one, but are scared to tell everything due to the reason of losing his pant and panty.

[@HBRVLifestyle]

Ok

[@j.l.salayao8055]

So, I think we can agree that you can call yourself honey baba and not a honey badger, ok.

[@HBRVLifestyle]

@@j.l.salayao8055 whatever you want to do. Thanks for sharing

[@williamsedlock3903]

I have owned many RVs when I retired I always planned on getting an RV and traveling abroad as they say I worked really hard and was very fortunate I had a good job and paid off everything I owed in retired with good pension at the age of 55 but the whole RV thing has just took a big crap for me when it comes down to the quality versus money you have to pay out the nose to get something good that still ultimately going to be a pit of money and second of all the RVs that are left around that are good RVs compared to the new ones that are just completely trash are just to beat up to purchase? So sadly my dream has been crushed lol but maybe one day this world will turn around doubt it in my lifetime now being 57 :-( I'll just sit around the farm and enjoy the wildlife😂

[@HBRVLifestyle]

This is the problem with these Armageddon RV KZbinrs. Not every RV built is a pile of crap. So your dream was ruined by information that is incomplete

[@jamesbecker3420]

Do you want cheese with that whine? So, you have owned "many" RVs, what have you learned about quality brands, apparently not much. I have owned a 1988 Airstream since new and it has been a great trailer, never missed a day of camping due to breakdowns and it is still on the road. Have upgraded systems over the years on a scheduled basis. Maybe you should rent a rig to do your journeys abroad versus purchasing and walk away when you're done. I retired at 46 and life goes by too fast to sit around waiting for the perfect RV...

[@Livefreewhileucan]

I had a chick down at the local saloon call me a honey badger a week ago. Ewwwwww……

[@larrysilverthorn9353]

NDA= No Deception Associated

[@HBRVLifestyle]

Ok

[@donniecole3472]

If you don’t have 20-30% down payment for a toy you don’t need it.

[@HBRVLifestyle]

Depends on the situation. In most cases I would say it would behoove someone to put that kind of money down

[@Trufit99]

I put down 25% on my truck. A year later I was curious about trading it, no credit check just estimate, they only offered to pay it off :( walked away

[@HBRVLifestyle]

@@Trufit99 Trucks depreciate quickly! Also if you paid for anything including houses from 2020-2022 you really over paid compared to today's market value unfortunatly

[@Trufit99]

@@HBRVLifestyle During the time I got my truck I was lucky to find a dealership that would only charge MSRP which was still cheaper then used truck, crazy Covid times lol I was able to profit selling my Tacoma during that time, can’t win them all

[@SlavGuns]

I would say if you can’t post it off within a year, you can’t afford it! These trailers won’t last 10 years if you really use them. lol

[@keithburton3713]

Why would I take any economical or financial advice from someone who washes RVs? Some KZbinrs are giving advice out of their field of expertise, just to create content for their channel which they get paid for . Whether the information is good or bad or correct or incorrect.

[@HBRVLifestyle]

I have worn every hat a dealership including washing them , fixing, selling, financing them.

[@terrywaters6186]

Elon Musk didn't start out building spaceships.

[@terrywaters6186]

Well, Greg's channel is gone. Did he have problems and take a pay-off for a NDA.

[@HBRVLifestyle]

His channel is still up

[@terrywaters6186]

@@HBRVLifestyle Still says it's unavailible on my end.

[@HBRVLifestyle]

@@terrywaters6186 kzbin.info/www/bejne/gZu1mJmkbLmZgaMsi=jr-lGaQwe2e1tnfM

[@casskit9502]

You’re part of the problem.

[@HBRVLifestyle]

You are entitled to your opinion. Have a great summer

[@jimm2442]

Exactly! This guy is just another salesman that will lead the ignorant down a path that will cause nothing but financial pain and a dismal future.

[@HBRVLifestyle]

@@jimm2442 Everyone is entitled to their opinion. Have a great summer camping season. God Bless

[@steverobinson1598]

You're a part of the problem for the RV crap builder's 💩 🙄. Keep on being a major problem for them. Why hasn't a lawyer started a class action lawsuit beats me?