I'm still convinced these people are crazy.

Years ago, pre-2008 in fact, I posted something that lighted a firestorm of indignation - I questioned the sanity of people who buy new RVs and amortize the purchase over 20-25 years. I had been to an RV show where I saw lots of people happily signing purchase contracts and wondered how these young families were able to pay $20-25K for a new trailer. Then I read the small print which stated that yes, it's only $120 per month but that's because it's amortized over 20 years! Lets do the math folks - $120 per month at 6% for 240 months means your actually paying nearly $15K in interest, or 75% of the original purchase price of the trailer. In 20 years I imagine most of these trailers would be worthless for consideration of resale or trade.

So it turned out that lots of these hard working young folks were borrowing against the equity in their homes. Some were outraged that I would suggest that it might not be a wise decision, suggesting that the time they spent and the memories created were worth far more than money. Then came 2008 and look what happened to so many hard working, honest people - they became upside-down on their mortgages, defaulted and lost everything.

I'm still convinced - young families with tight budgets should buy used, rent, borrow or maybe just save for that new(er) RV. It may be only $120 a month but in the long run, it's a heck of a lot of money!

I know my signature might be whywait? But we're older, have no kids, own a 1991 trailer and a 2004 truck and owe not a cent to ANYONE!