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
Bobbo wrote:
For all of those who think it is a good idea to carry debt that you don't need to carry, I hope you never live through a 5+ year recession. I have.
Huh? 5+ year recession? The great depression was only 4 years and the latest which was compared to it, although it wasn't even close by the numbers, was less than 2? Are you 91?.
Taking into account the last ended @ 10+ years ago and its the longest expansion in history, the next may be a doosey but what is the big deal? If it gets that bad and you financed an RV just dont make the payment and they'll come and get it, which is why it's called collateral. Any depreciation or difference will be written off as a profit and loss write off as you can not get blood from a turnip. At that point your FICO score won't mean much anyway, and as soon as it's over they'll be glad to finance another for you regardless.
