#14 Casita Update
What is a used Casita worth?
It’s 121 degrees at 4:30 in the afternoon on Monday the 19th of June. It’s been an interesting day of high expectations and a dose of cold financial reality. And that happened in the morning.
The first phone call of the morning was at seven-thirty when I called Katie. We chatted a bit and exchanged financial data for Plan A. I agreed to buy her Casita Freedom, and the short version was we would let our banks take care of the financial transaction.
High with excitement, I called my bank.
Plan A was for me to take out a loan. First, I had to fill out a loan application. I was able to do that over the phone and was approved for $12,500.
That was when Plan A fell apart. My credit was fine. The value of a 2010 Casita was only $5,700.
To the bank, and anyone just looking at the numbers, it was a dumb deal to pay $12,500 for a used recreation vehicle that was ‘book value’ worth only $5,700.
This is where the phrase ‘cold-hearted banker’ applies. It means a person (or institution) who is detached and unfeeling when faced with my situation.
The person at the bank was sorry, but the bank would only lend me $5,700. I would have to find some other way for the remaining $6,800.
This is the point where common sense and cold logic meet passion and intense desire. (like when you are in love)
Now, I’m not exactly in love with the Casita. However, if you can relate to that intense, emotional feeling… then you understand why I didn’t just accept the news and call it a deal-breaker.
Here’s some secret information. A secret from lending institutions and people who only rely on a single data source.
Casitas are manufactured by a single facility in Texas. There is no retail dealership. There is a minimum six-month waiting list to purchase one.
Casita owners keep their unit for several years. When they do advertise it for sale, it is usually sold within 72 hours. Casitas are highly sought by a specific niche market.
A basic Casita lists for about $16,000. Owners always personalize their unit with additional features. The retail price of these extra features averages five to seven thousand dollars. Also, each owner personalizes even further. It is like a professional mechanic tweaking a fine engine to achieve maximum performance.
There is no retail price for this professional ‘tweaking.’ The result is a customized Casita that gives years of pleasure.
I will spend at least $1000 upgrading my Casita. I will invest about half that amount to install solar panels. I intend to spend most of my time boondocking.
Here is another secret, and this applies to all people who have a passionate hobby. They love to tinker to make it better. They spend a lot of money on their hobby.
When it comes to Casita owners, they love to share their own creative ways to ‘make it better.’ I look forward to learning their personal secrets to make my Casita better.
Do I love my Casita? No. But I love my future enjoying it with my dogs. It will be a wonderful, adventuresome journey.
But how will I pay for it? The bank won’t give me the money.
I have saved a little money for that ‘rainy day.’ Thankfully, it doesn’t rain that much in Arizona.