RV Partnerships?

[SteveV]

Has anyone ever purchased an RV as a partnership? Thinking if you have a few couples you could pool the money for purchase price, divvy up "shares", select weeks of use, and all get the opportunity to have access to an RV for vacations.

Feedback?

Steve

[MsNomer]

Sounds like an excellent way to lose friends.

[mikes47]

I agree that it does sound like a recipe for loss of friends. On the other hand, the arrangement does work for things like airplanes. So, I guess it depends on the nature of the friendship.

[SteveV]

4 couples, 13 weeks a year each couple, pull names out of hat for first choice of sets of weeks, rotate choices in subsequent years.

Have a Money Market account with a reserve fund to cover repairs.

Conceptually I think it could work, just wondering if anyone has tried this.

Hard to justify $130K on a Class B RV if you are still working and cannot use it as much as it deserves, thought this idea had some merit.

Steve

[avanti]

Sounds like a fine idea to me. Just agree on a stringent set of guidelines and rules before the fact, and stick to them. The pitfalls are obvious.

I would also consider appointing a "managing partner" with significant authority to enforce the rules and authorize needed expenditures.

[InterBlog]

I wouldn't even consider it. Having been previously associated with a shared family vacation property, guess who got stuck with a disproportionately large share of the cleaning and maintenance work? Even if they appear to be fair and considerate on the surface, people have a funny way of declaring imminent disasters to represent "not a necessary expenditure". So they act sly and misdirect attention away from their own refusal to participate rather than being honest and saying "we are not paying - YOU have to pay for that on behalf of all of us, just because we said so".

Maybe there are folks out there with better family or friends' groups than what my husband and I have experienced. But as for us, we walked away from our situation.

[jrobe]

Most people that couldn't yet afford or justify an expensive toy, would save and invest the money wisely and plan for the day when it is possible.

[Phoebe3]

I have to agree with InterBlog. No experience with vacation homes, but my experience with mechanical devices is that the user(s) before you will limp along with something they know should be repaired, but they don't want the down-time to be on their watch so you end up taking care of it for people who are not as responsible.

If there is only one other person/couple, you might be able to work it out, but if there are more, there will be endless finger-pointing and denial as to who broke what and who is responsible for repairs.

I would only enter a relationship like that if I knew I was going to be the weakest link.

[Davydd]

This is popular with boating in Minnesota but I don't know how it works. Also there are about 120,000 lake second homes in Minnesota and many families share their use. The boat clubs are for short term outings mostly on one lake but some clubs have a variety of boats on different lakes. Cabins of course are fixed locations as well.

With a Class B RV you can't simply divvy up weekends. Class Bs are designed for long distance touring mostly in prime weather. How would you arrange a trip that takes several weeks in the prime summer for instance and have a equitable partnership? If you are only using it for local weekend camping trips perhaps a Class B van is not the most optimal type of RV.

In stead of ownership there are rental RV companies. That is more flexible for an individual and in the long run cheaper if it turns out Class B RVing is not what you think it is.

[SteveV]

All excellent points.

I agree everyone involved have to responsible adults.

I would envision at least a $10K money market account earmarked for repairs and maintenance funded by all couples and replenished as necessary.

I have several friends that do something similar for light aircraft, for the same reasons. Everyone works, and there is no way to justify an expensive aircraft that cannot possibly be used continuously for people still working. Plane is hangared and maintained professionally, and divvied up equitably for use.

It is not a question of affordability per se, it is a question of using a resource efficiently. David suggestion of rental is a good one that we have also explored, but that is a sunk cost with zero ROI in the long run. And I obviously realize RV's depreciate like crazy, but at least you can recoup some of the purchase price down the road, so to speak.

In any event, it does not sound like anyone has done this for RV's, which is what I was exploring.

Thanks to all.

Steve

[Davydd]

I doubt you can recoup your investment in Class B. They are not an investment like a house that usually appreciates in value over the years (or not like in 2008 ). Your depreciation, storage and maintenance costs may outstrip any assumed loss of renting. Consider, you also will be obligated to use the Class B in your allotted time whether you desire to or not. Over time, as I mentioned, some members will decide its not for them and other members may take to Class B RVing like a duck to water and get frustrated with sharing.

[mumkin]

I wonder how it would be insured...

[Porsche911]

We are still working and could not justify the $'s for a new rig so we found a nice used one which will not depreciate as much as a new one. We already have had friends that have offered to rent it, sorry but no way this will happen.
Maybe another option for the OP is to look for a nice used rig like we did (just a thought)

[Ron J. Moore]

I ascribe to the theory of never doing business with neighbors, family nor friends...if you do - you lose! Ron

[peteco]

Originally Posted by Ron J. Moore

I ascribe to the theory of never doing business with neighbors, family nor friends...if you do - you lose! Ron

Yep. Been burned by family and friends. They seem to suffer major amnesia, or know what they have done and avoid you.

[Bruceper]

If you can't afford it, buy used or rent one. You do not want the nightmare that would come with sharing.