Rv loan rates!
Anyone looked at RV loan rates lately! For 800+ credit scores 8% or more! Even through local credit union. Who is buying these over priced RVs with these rates?
Forum Discussion
valhalla360 wrote:
So when the market tanks and you need cash to pay the loan, you just locked in your losses.
Yeah, you can be you but just pointing out for others some of the risks of investing on margin.
I have the same issue with a $350K mortgage. The money I would have spent on the house has made me about $150K since 2013. I also saved a bit on taxes with itemized deductions.
Now that the markets have slowed down, I may not break even for a few years but I am in no hurry to pay off the mortgage. Long term my investments are highly, highly likely to cover the 3.2% mortgage and give me even more yields.
That said, I would agree this is a very poor time to borrow at relatively high rates to finance an RV. In fact, IMO, potential buyers need to think twice. If we enter a period of recession and higher unemployment, how safe is your income? If you need to stop the payments and sell your RV, how big of a loss are you willing to accept?
