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
way2roll wrote:
Love this answer. I was taught never to risk your own money. Borrowing with the interest deduction despite still paying some interest will still allow your money to earn more via investments and thus a net in your wallet. Paying cash means you are pulling your own money, putting it at risk and losing the money you would have gained in those investments. it's a lose lose. And I'm risk inhibitive, meaning if the bottom fell out and a worst case scenario happened ( a million things), the bank loses the money on the RV - not you - and you still have your cash but may suffer some temporary credit worthiness loss. Plan for the best but be prepared for the worst.
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Unless you are planning to go bankrupt and not pay off the loan...you aren't using someone elses money.
If you invest $100k and it loses $50k, you are still out $50k whether you used "your own" money or "someone else's" money. With someone else's money, you still have a $100k loan you have to pay off.
Reality is using leverage allows you to make bigger mistakes.
