I really hate to see this

[dave77]

deleted

[Old Syko]

such purchases do represent a small portion of total RV Sales .... some are mistakes .... some are well thought out and deliberate .... I've seen a number of them made by folks of advanced ages and/or in critical health .... specifically, they purchase insurance designed to pay the loan if the person is disabled or dies .... their goal is to leave a paid for camper as part of their estate .... years ago most policies weren't large enough to require a bunch of medical clearance .... don't know where that stands today

Such shenanigans are so underhanded by both the buyer and seller. They are also a major cause of such high insurance costs for honest folks. One other thing some of these people are failing to take into account is that in some states the value of this thing is taxable as income to their heirs upon their demise making it a debt rather than a gift. Planning for such things must be taken into account before and not after the fact to avoid complicating their estate.


I also applaud everyone here who like myself has been there and done that with too much debt and overcome it to the point of cash only. Once you learn that interest is something you collect and not something you pay you're beginning to get a handle on things. My folks were children of the depression and knew this the hard way but for me it didn't quite sink in until it was nearly too late but I figured it out in a hurry.

[dddrees]

Really doesn't sound that much different than what was going on with Home loans prior to the great housing bubble. Yeah this thing is real sorry but at least with this RV thing it wont put our whole country at risk. Whole sale greed is really ruining this country.

[Lyman]

Personally, we don't buy ANYTHING on credit! We refuse to pay interest to any entity unless it was a life or death situation.
Our last three vehicles were paid for in CASH. Nothing hanging over our heads. My mortgage is the only interest I pay.
Doing without some things without that burden brings me much more joy! I have everything I need to enjoy my life without falling into that trap, thus allowing me to leave things with no strings attached when I'm gone!!

My Wife and I live by the same standards. We owe on our home loan and that's it except for a small credit card we use to make online purchases. And we pay that off every month. Makes life much more enjoyable when you know you are living within your means.
I have a coworker that bought a travel trailer on one of those long loans. The thing is in having repairs done to it more then he has it. He has had to put off trips because it is in the shop.

[BrokenolMarine]

We have one card, for unforseen emergencies, or deals that we don't want to pass up. We use the card then pay it off quickly, usually in a month or three. We also kept the Goodyear card my wife has had in her name for thirty years, but they always offer ninety days same as cash. We use that card for all the vehicle maintenance and tires so Miss T will have individual credit if something happens to me. Her credit rating is as good, or better, than mine these days.

We had the house nearly paid off, but did a refi to build the new woodshop. We did a ten year loan, took out the necessary funds and built the dream shop. Due to the excellent rate, the payment didn't change. We are far from wealthy, but we pay our bills and like others, pay cash for most things we want because we are willing to wait until we can.