Cash Vs. Finance
I'm planning to buy a new RV in March. Yes, I know they depreciate like crazy, but I've window shopped the used market and I don't see any that's what I want at a reasonable price and I don't want to...
Forum Discussion
Been a long time since I took that class and times have changed but....
A lot depends on the interest rate. v/s infation rate v/s return on investment ratre.
money in the bank back when I took the class paid 5%. and inflation was about 7 so it was a loosing deal your money SHRANK. today the interest rate paid for savings is closer to 0.5 percent (1/2 or less) and inflation higher.
Back then loans made sense
Today loans.. well the interest rate is all over the map..
One thing I will recommend AGAINST is the 30 year loan. Camping world likes to do the 30 year loan.. Most RV's don't last that long. So go with a shorter term if you get a loan. .
Beyond that I have not done the math in the last decade and as I said times change.
A lot depends on the interest rate. v/s infation rate v/s return on investment ratre.
money in the bank back when I took the class paid 5%. and inflation was about 7 so it was a loosing deal your money SHRANK. today the interest rate paid for savings is closer to 0.5 percent (1/2 or less) and inflation higher.
Back then loans made sense
Today loans.. well the interest rate is all over the map..
One thing I will recommend AGAINST is the 30 year loan. Camping world likes to do the 30 year loan.. Most RV's don't last that long. So go with a shorter term if you get a loan. .
Beyond that I have not done the math in the last decade and as I said times change.
