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
westernrvparkowner wrote:
Finance a $50,000 toy over 5 years at 4.5 percent interest you pay just less than $6000 in interest. That means that toy cost you an extra $100 a month to have the enjoyment of using it for 5 years versus setting aside the money to pay cash. And that doesn't take into account that the same toy may very well cost more five years into the future.
Of course people make bad decisions with credit. They actually can make bad decisions on just about everything be it money. narcotics, alcohol, love, marriage, career and on and on.But that does not make the underlying action bad for everyone.
Why do people always try to justify financing by talking about bigger dollars?
A family can have just as much fun in a $2,000 TT or popup that was paid for in full as they can in a $50,000 RV or a $250,000 RV.
While having fun in that $2,000 TT for a few years they can bank the money that would have gone to payments.
That said, if everyone did as I do, the USA economy would collapse. Our entire economy is fueled by debt.
