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What % did you put down for your RV & how many months financed


usaperuvian

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Kirk and Jack, when we first started this adventure we read lots of RV forums including this one. Of all the posts we read two things stood out above all. One is that the RV is a depreciating asset, it is an expense not an investment. The others was that you must have an exit plan. There will come a time, whether it is in 20 years or next year, when you will need something more fitting for your circumstances.

It was that early unanticipated exit that worried us the most. Although we "think" we did the right thing it is still all guess work.

As stated earlier, everyone's circumstances are different. What works for one my not work for someone else. So all I can say is do your homework try and make the best informed decision you are comfortable with. I don't think there is one "right" way.

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Yzg,

 

You may not be familiar with the different types of retirement accounts available in the US, but there can be significant tax liabilities if you pull out enough cash to buy a RV, 25% or more, whereas borrowing and slowly removing funds to make payments leaves the funds making money tax free and avoids large tax bites.

 

Barb

I knew you could do it with house mortgages but I am surprised that this is allowable with such an expense with an RV.

 

Our thinking is very much in line with Kirk with a bit of the "wealthy barber" thrown in. I am changing our investment portfolio over to more a low risk version and buying (and paying for) our expensive items before we retire or sell our house. The house will not be sold immediately but we want to downsize drastically. When we do retire, my wife has a pension but I don't so I shall move some monies over for an annuity.

 

We (read me at the second) are doing as much research as we can but still really don't have an idea of costs because we have a long way to drive to get to our starting point and I really don't want to stay in one place for very long. And we have to deal with the vulgarities of the Canadian / US currency exchange which is up and down depending on oil prices..

 

My wife has indicated that she may want to move to a different trailer once we seriously hit the road so I have to plan for that. You can read / research all you want but sometimes, life rolls out differently than you had carefully planned..

 

What I don't want to worry about while on the road is the stock market an having to make loan payments out of our income stream.

 

Debt, like investment risk, is personal thing... If you believe and are comfortable with your methodology, then go for it..

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