the big problem with Gap Insurance !
If you buy gap insurance on a new RV you are acknowledging right from the purchase that you owe more than it is worth ! Why would you buy and finance something that has less worth the instant that yo...
Forum Discussion
Personal example: Instead of taking the money out of our IRA to pay cash for our RV, I borrowed someone else's money at an interest rate of 3.5% buy our RV. Over several years my IRA has returned a rate of growth greater than 3.5%. It's been a good thing that I didn't pay cash for our RV.
I agree in theory, however if your IRA is making 3.5% it is probably at some risk of making less than 3.5%. Your interest rate will not change but your rate of return might. Of course if you are borrowing money @ 3.5% you can't get hurt too bad.:) Now if you are paying more it is harder to justify.
We recently bought a new f150 and financed it with a credit union in order to get a 1000.00 rebate, 3.49%. We sold the old truck and paid that on the purchase then paid the loan off with COH. No way to make more than 3.49% with the COH without risk I am not willing to take.
Every situation is different.
