Motorhome financing
As newbies to the RV lifestyle dream we are researching and preparing to buy our first RV. We know we want a large Class A built with high quality which with our budget means older high quality versus...
Forum Discussion
rr2254545 wrote:
If you finance you can claim the MH as a second home on your tax return - totally legal - this why I did not pay cash for mine
Not familiar with the lender but terms are excellent I got 4.5% in November of 2011
So on a $100k loan you paid $4.5k in interest to save...around $1.5k?
And that assumes you already have enough to cover the standard deduction. If it's just canceling out the standard deduction, you effectively get nothing.
To the OP: When you add in the guaranteed loss from the loan, it looks a lot less enticing as your investment has to make 5% just to break even...it's unlikely you are going to make a killing by taking out a loan.
