RV Financing..
New to purchasing and financing a rv.. Really would like 240 month financing, but no experience here.. Are banks doing it? Min down payment going this route or min dollar amount financed? Would...
Forum Discussion
bid_time wrote:
There is a difference between being in debt and nearly bankrupt and having outstanding loans and net positive balance sheet with several zeros in it.
There are many many millionaires that started out with debt that would apparently cause you severe anxiety attacks. And, There is nothing wrong with someone profiting from my dept. It's actually pretty smart to risk other peoples money and keep a nice tidy profit for myself. They win and I win.
Sometimes its smart to pay cash. Soemtimes it's just plain stupid. Like I said, one size fits all answers are worth what you pay for them.
The only part where we are in disagreement is that it is sometimes stupid to pay cash. It is never stupid to pay cash.
Can debt be leveraged to your benefit? Sure, I've done it successfully. I used to invest in rental property and it was all financed. Debt does not give me anxiety because I am capable of controlling debt. I choose to no longer deal with debt.
Most people go in debt for nonsense frivolous things that they really cannot afford. The start of this discussion was about personal debt for an RV, not investing.
The average credit card debt balance carried is between 7,000 and 15,000 depending on which statistic you use.
In 2012, 1.18 million people filed bankruptcy. The number of households teetering on the edge of bankruptcy is staggering.
Can debt be used as a tool? Yes, but for the average consumer debt isn't working. The average consumer does not use debt wisely. So my philosophy is, Don't be average! :B
