Need for exit plan?

Yes, so I guess it isn't inaccurate but I don't like thinking of a depreciating asset as equity. Or, if you stick to the accounting model, apply depreciation from the start which will use an expected lifetime to bring the value of the asset to zero.

OutdoorPhotographer wrote:
One huge inaccuracy. "Sometimes it takes 10-12 years to get equity." What he meant was 10-12 years to not be upside down.

Doesn't "equity" (in an accounting sense) mean the asset is worth more than is owed on it? In other words, not being upside down on the loan?

I suppose as health deteriates just letting the loan company take the Rv wouldn't be all that bad if you had another place to stay. Especially if you are upside down and owe more than it is worth.

It is a sad subject but if I owe money when I leave this world it may be better than leaving money for others to fight over.

I have financed my needs at times but I pay cash for my wants (TOYS). If they didn't have the cash or other resources on hand to cover it then they shouldn't have purchased anything. It's called having your - - - covered.

One huge inaccuracy. "Sometimes it takes 10-12 years to get equity." What he meant was 10-12 years to not be upside down.

The dealer was deadon that it is not an investment, it is a lifestyle. I would add that it's an expense. I mean that in the accounting sense, not in a derogatory manner. Treat it as an expense that you can afford and life is easier.

Hope they get a buyer and glad they have the cash to pay the difference.

It says that you should not go into too much debt when you purchase an RV. I saved up my money and went back far enough in years so I could purchase the coach I have with cash.

While it has a sad story, it also is interesting that the people do not regret purchasing the RV because of the happy times they had on the road. I have paid a lot of money for the RV lifestyle but I would not have traded anything for all the wonderful experiences we have had in the RV. I know that we could not have these experiences any other way. It is hard to explain to people how having an RV has changed my life for the better.