Underwater loan
I'm really red faced to even ask but if anyone has any ideas I'd be happy to hear. Like many seniors we bought a new Class A when retiring. Things were good back in 2001and we were full timing. Put a ...
Forum Discussion
TheAmRheins wrote:
Thanks for sharing your story - rv.net would be doing folks a favor by making this thread a "sticky" with the title "NEVER BUY A RV WITH A 20 YR LOAN"
20yrs is fine as long as when times are good a person makes double payments. If you cannot make double payments maybe the RV was a bit rich. Only if times turn for the worse should just the minimum get paid. And usually that is not during the first year.
If the OP had made double payments the first five years the debt would be a much lower burden today.
