Financing

wing_zealot wrote:
How can you compare credit card debt to a car or rv debt. Not at all the same, stupid comparison. My investments made over 7 percent interest (average annualized return) over the last 10 years. My rv note was 4.6 percent Over the same 10 years. I'm way ahead, end of stupid comparison.

I'm not comparing going into debt with managing money. If you are earning more on investments than what you're paying on an rv loan, then that's the latter.

However, some are of the mindset that as long as they can afford the monthly payment, even if it's just barely, then everything is good. That was my ex-wife's position. Unfortunately, unexpected expenses pop up and suddenly you can't make the minimum payment. Rv loan, credit card, car loan, mortgage you really can't afford....it doesn't matter if you're barely making payments during the good times.

Going into debt for an rv is more like credit card debt than you think. For MOST people, an rv is simply a toy, NOT a necessity. Therefore, you shouldn't get to the point where you're stretching out the loan term so far so you can barely make the payments. They depreciate so fast you're under water almost immediately. I've read several posts here where folks are in a financial bind and can't even get enough for their rv to cover the loan balance. That is going into debt, not managing money.