Recently, we received a call from an RVer in a bad situation. He’d put a deposit down on a new motor home, and the manufacturer had ordered (but not paid for) the chassis. Then, silence. After repeated unsuccessful attempts to contact the manufacturer, he paid a visit to the factory. The place was empty, and the bank had padlocked the door. The manufacturer had defaulted on its bank loan, leaving the client with no deposit and no motor home.
This is a terrible set of circumstances—a poignant reminder of the risks involved with purchasing a motor home. Buying a motor home is a serious investment. Before putting down a deposit, you want to know you’re working with a vendor that rests on firm financial footing.
So, what does Advanced RV do to minimize client risk?
1. To support the build, Advanced RV clients make an initial deposit and one progress payment. We put these payments toward the costs of design and engineering, parts and components, and labor as we build the coach. We defer nearly half the payment until the motor home is ready to deliver.
2. Advanced RV has no bank debt. We have modest and realistic growth plans, financed through owner cash and profits.
3. We have good insurance coverage for facilities, their contents, and business interruption.
4. We have experienced financial leadership, we rely on solid accounting and financial systems, and we have no significant staff turnover.
If you have any questions about Advanced RV’s financial security, we’d be pleased to discuss.