20 year loan for RV?

way2roll wrote:
Not sure why the interest question even comes into play. You can deduct the mortgage interest as a second home. Personally I'd rather use the banks money, amortize the debt, take the interest deduction and have my cash work for me. Recent events aside - I can earn a conservative 8-10% in the market or a 401 and net 5% or more difference over what I financed. I don't consider RV's as toys especially the Class A's I've owned, but you guys paying cash for your "toys" might do well to take an economics class. Paying cash for a depreciating asset is far worse than keeping your cash and putting it to work, using the bank's money, get the interest deduction and earn profit on the cash you still have. I get tired of the same 4 crusty mattress stuffers and your condescending remarks about not only who does what with their money, but reducing peoples love for Rv's to toys and advocating that financing is stupid. You are the ones who are missing the boat and could actually net money by financing. But go ahead, spend your cash on a depreciating asset. Get out of the 30's and start understanding how financing can actually be to your benefit. You have less cash and a depreciating asset. I have all my cash, plus net profit from the market by having that cash, and the RV. But I guess I'm a fool. Been in the banking industry for 25 years, not about to take financial advice from someone who pays cash for a depreciating asset. I think that falls under the list of "what not to do".

So you pay $1000 in interest to get $250 off your tax bill?

Buying on margin works great when the market is red hot. When it takes a dump, it's really painful.