Selling a rig your upside down on
Like many people, we are over our heads. We have a really good 2012 Keystone Cougar Xlite 29RES, that we owe $30,000 on. However, it retails for closer to $25,000. Trade value is considerably less. S...
Forum Discussion
RustyJC wrote:
For what it's worth, since the early 1990s our modus operandi has been if we can't write a check for it, we don't buy it. Life for us is a lot less stressful living debt free. It's certainly something to consider working toward, IMHO.
Rusty
Amen to that, brother! With the exception of a mortgage and possibly a car to get to work, there's nothing worth getting into debt for, especially a toy.
That being said, the advice is too late in this situation. As much as I'd refrain going into debt more, the op should sell it as quickly as possible and take out an unsecured loan yo cover the rest. The issue with these "toys" is they're going to keep depreciating very rapidly. Best to take a little less than hold out for more and taking a real bath.
