Should we Rent or Buy an RV?
Our family (my wife, 3 kids, 11, 8 and 3) is planning a month long vacation this summer. We're going to hit the midwest including the Dakotas, Yellowstone, Glacier NP, some of Utah, Colorado and as ma...
Forum Discussion
Bumpyroad wrote:toedtoes wrote:gbopp wrote:boulter wrote:
If we buy a $60-70k us $3k in depreciation plus some more for maintenance and registration.
3k in depreciation on a new RV isn't even close.
The OP indicated they'd be buying a USED RV for the $60-70k.
If the OP gets a great deal on a used one, (basically steals it) the depreciation hit might not be too bad (in fact he could even make money) but when somebody has one and is selling it after a year, questions as to problems arise.
bumpy
I think that's my personal hesitation with this plan. I see it as a big gamble - sure the OP might get "lucky" and find one for a great price and then be able to sell it quickly and break even or make a profit. But, it's just as likely, if not more likely, that it will be a loss.
Paying cash is a good start, but have you factored in the loss of interest on that $60-70K while you are trying to sell the RV? If you can sell it within a few months, not a big loss. But if it takes a year to sell it, that can add up.
