Looking at purchasing an RV
Little about myself. Married with 2 young adult children in college and 2 large dogs (75 and 90lbs). Live in southern Idaho but have family in Michigan, Georgia, Alabama and Florida. I am 46 y/o an...
Forum Discussion
Okichewy1 wrote:
thanks for the information. It helps a lot with search process. Yeah, plan is to purchase with a 20 year loan and payoff within 12 years.
Big, BIG mistake. With a DEPRECIATING asset it will mean you will absolutely up side down for at least 12 years. Maybe more. At the end of 5 years you could still owe almost what you paid for it, and it could only be worth maybe 50%.
Unless you like throwing your money away,or have a lot of disposable cash look again at value. You pay 200K for a new MH, 5 years down the road you sell it for a hundred K. Can you absorb that much of a loss?
