20 year loan for RV?
A friend of mine was telling me that I can get a 20 year loan on most new RVs. Is this true? Now I realize how people afford those Class A RVs.
Forum Discussion
Charlie D. wrote:Desert Captain wrote:
"You can deduct the mortgage interest as a second home."
Not necessarily... recent changes in the new tax laws have restricted if not eliminated this deduction entirely for most folks. Better check with your accountant/tax advisor.
:C
:) With the new tax laws it is getting harder to use deductions. Married filing jointly has a stand deduction of $27,000. You must have deductions greater than that to claim anything.
Even if the deduction does not apply to you, the rest of the math still applies. If I get 10% ROI from my cash and spend 5% financing, I net 5%. I can't do that if I don't have my cash to work for me. That's the moral of the story.
