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
Like Rusty, you need to live within your means. Starting out, use credit very cautiously and leave yourself dome room. Buy a smaller house, a used car, and a used RV . Save some money and in the later years you can afford to get something new and shiny with the savings if you choose.
The OP needs to just keep the RV he has, take care of it and accelerate the payments when he can to get the loan paid down to the point he is not upside-down.
Taking out a personal loan for the gap, is a loosing proposition. It will have a much higher interest rate. He would be better off taking that money that would go toward the personal loan and accelerating the payments on the current RV.
Ken
The OP needs to just keep the RV he has, take care of it and accelerate the payments when he can to get the loan paid down to the point he is not upside-down.
Taking out a personal loan for the gap, is a loosing proposition. It will have a much higher interest rate. He would be better off taking that money that would go toward the personal loan and accelerating the payments on the current RV.
Ken
