Iowa RV dealer blasts Camping World tactics

I watched the video over the course of a few sittings. I couldn't care less about the quality and production of the video, nor am I more or less inclined to purchase an RV at either of the places mentioned, but the point of the video is well understood and has value. Whether its predatory or fraud or illegal in any way, never in the history of mankind has a civil government been able to legislate morality. Therefore, you need videos and testimony like this for the awareness of a topic that often times is misunderstood. Yes, "buyer beware" but in the myriad of legal lingo involved in lending deals, the buyer needs to know what to be aware of.

I have personally entered into similar lending contracts before, but was fully aware of the details. I don't recall if the video adequately described the contract, but I believe the essence is that you are agreeing to pay the full purchase price plus the interest over the course of the loan. In other words, its a type of early payoff penalty. I wouldn't enter into a long term contract like this, but if the term was short and the rate was better, then it might be worth the risk...especially if you have zero intent to pay it off early. I think such loans are better for certain business purchases rather than personal, long term hobby purchases. I've always looked at the 15 year RV loan program as something that would outlive the useful life of the unit itself.