The Beauty Of Having Better Options

Good morning!

I hope this finds you well.

Welcome to another edition of The Matt Viera Newsletter.

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I had an interesting weekend.

I went shopping this past weekend.

One big-ticket item I've been shopping for is an RV.

I've been shopping for this particular RV for the past couple of weeks.

The specific RV I’m interested in buying is small enough for my beast to tow comfortably and has complete off-grid capability, allowing me to go camping anywhere in any season.

I've checked it out in person and find that it will suit my weekend escape and cross-country road trip needs.

The popular advice when shopping for an RV is to go to an RV show for the best possible price.

I heard this advice from my mother (who, along with my father, purchased several RVs throughout her life), and this is commonly expressed in online forums.

So, I went to an RV show the past two weekends ready to make the purchase.

The first RV show I visited could have been better and didn't have the exact model I was looking for.

The RV show I visited this past weekend did have the exact model I was looking for.

But the shopping experience was different from what I expected it to be.

When I was ready, I approached a salesperson, asked a few questions, and told her I was ready to buy.

Now, here's where it gets interesting:

The salesperson takes us to a table between some RVs on the show floor, writes down some of my personal information on a sheet of paper, and then runs to get the "RV show discounted price.”

The problem was that she couldn't answer my specific pricing questions, especially regarding some specific add-ons I wanted, so she had to get a manager.

After a short wait, the manager arrived, sat at our table, and entertained all of my questions with specific answers and numbers.

The numbers were all written down on that initial sheet of paper.

When you think of a back room, "back-of-the-napkin" negotiation, this is precisely what it was.

However, the focus of the entire negotiation was on the final estimated monthly payment of the "RV show discounted price" quoted, as if I was basing my entire decision on what I'd spend monthly for the RV I wanted.

Unlike buying a car that has the price and specifications of the vehicle affixed to a window as required, there's nothing similar to speak of on an RV. 

So, I asked for a formal offer in writing with an itemized list of everything included in the sales price, i.e., a computerized printout, something similar to the sticker price of a car.

The manager informed me that for me to receive any formal offer (other than the "back-of-the-napkin" calculations), I'd have to fill out some paperwork, and the dealership would have to run a credit check, which, in essence, would officially start the buying process.

I told him we'd have to think about it, and he gave us a few moments to do so.

When he returned, I told him the “RV show discounted price” was too high and exceeded my expectations (which included ~$2,000 just in "fees").

He asked us, "What would it take for you to move forward? Please give me a number, any number, however outlandish. I've heard it all."

We told him we wanted the unit at $10,000 - 15,000 lower than the quoted "RV show discounted price.”

He didn't even entertain a counteroffer to our counteroffer.

So we walked.

I want to buy this RV as soon as possible, but I don't need it.

It's the end of the month, salespeople have to meet a sales quota, and not many people are willing to buy an RV in the winter months only to store it until they can use it.

As such, I wouldn't be surprised if I got a phone call from the manager in the coming days with a better offer.

If not, it's no skin off of my teeth.

So, the next day, I did three things:

1) I texted the manager and informed him I felt like I was negotiating blind.

2) I again requested an itemized list of everything included in the price quoted and asked for it to be emailed to me (he texted back the "back-of-the-napkin" numbers)

3) I conducted some research on the exact RV model I wanted.

My research revealed an RV dealership selling the same RV I want for about the same price as the "RV show discounted price!”

I emailed that particular dealership and may move forward with buying an RV through that dealership.

That's the beauty of shopping for big-ticket items: there are always better options.

Most people will buy a big-ticket item based on emotion and then justify the purchase with logic, i.e., justify their decision based on how much it may cost per month despite any additional costs a seller may add-on.

I went to the RV show ready to buy this RV. I’m ready to buy it today. I’m ready for the possible adventures I believe I’ll have in this RV.

But, I’m not going to buy anything without being fully informed of what I’m getting myself into.

One thing I always tell myself when shopping for a big-ticket item is “the salesperson/dealership needs to make the sale more than I need to buy.”

Always keep this in mind when shopping for a big-ticket item.

And be ready to walk away if the deal doesn't feel right.

I’m confident there are better options.

If it doesn't work out with either dealership in the coming days for the exact RV I want, I'll start exploring different, potentially better, options.

I'll keep you updated on my RV-buying adventure.

Interesting reads:

A friend of mine recently re-launced his financial newsletter. The first article he published was a summary of his interview of me and his key takeaways on my journey toward retirement. You can check out his newsletter (and subscribe to it) here.

You can find the collection of financial tools & resources that helped me grow from a 6-figure debt to a 6-figure net worth by clicking here.

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