โJan-02-2020 03:00 PM
โMar-19-2020 07:53 AM
โMar-19-2020 03:00 AM
โMar-12-2020 04:51 PM
โJan-11-2020 06:23 PM
GDS-3950BH wrote:My stick and tin is doing just fine 15 years running. Much better than all that delam that gets posted. I went with 20 year financing, paid in 5. NO regrets.
Why not blame the company that hosts this board? They'll be more than happy to sell anyone a $20K POS stick and tin TT that will be lucky to last 5 years, and finance it for 10 or 12 years for them.
โJan-11-2020 06:07 PM
โJan-06-2020 09:37 AM
Grit dog wrote:GDS-3950BH wrote:
If it gets that bad and you financed an RV just dont make the payment and they'll come and get it, which is why it's called collateral. Any depreciation or difference will be written off as a profit and loss write off as you can not get blood from a turnip. At that point your FICO score won't mean much anyway, and as soon as it's over they'll be glad to finance another for you regardless.
I'll hope this part was written tongue in cheek and just not presented as such.
If not, I'd like to personally thank you for promoting the major reason I lost over $100k on a house that I chose to be responsible with and hang onto during the last recession rather than just stop paying, toss the keys under the mat and wait for the bank to foreclose on it.
(At least 2 other families that did just that with their mortgaged homes paid "some" of the rent to live in mine and offset my loss, somewhat. They got a more personal thank you, as about half my loss was not in market value, but rather unpaid rent and damage to the house because they were scum bags too...)
At the same time, I'd like to also thank those with irresponsible debt for allowing us to buy a new boat, new truck and a 1/4 section of land, all at significant discounts because the owners couldn't make their payments on their luxury items that were leveraged 100% or more.
โJan-06-2020 09:21 AM
GDS-3950BH wrote:
If it gets that bad and you financed an RV just dont make the payment and they'll come and get it, which is why it's called collateral. Any depreciation or difference will be written off as a profit and loss write off as you can not get blood from a turnip. At that point your FICO score won't mean much anyway, and as soon as it's over they'll be glad to finance another for you regardless.
โJan-06-2020 09:13 AM
time2roll wrote:
When I bought my RV trailer I had just paid cash for my house. Dang I was out of money and had to finance the trailer. Armageddon was upon me.
โJan-06-2020 04:36 AM
โJan-06-2020 03:49 AM
Bobbo wrote:Bobbo - Why would I wait 5 years to cash out and cover my loans?
For all of those who think it is a good idea to carry debt that you don't need to carry, I hope you never live through a 5+ year recession. I have. I won't carry debt unless it is necessary.
As far as selling your "collateral," good luck with that when the recession hits and no one has any money. As far as withdrawing your savings from your investments when the recession hits, good luck with that when your savings are suddenly 50% of what they were.
Do what you are comfortable doing. I pray that you don't learn a hard lesson.
โJan-06-2020 02:09 AM
Bobbo wrote:
For all of those who think it is a good idea to carry debt that you don't need to carry, I hope you never live through a 5+ year recession. I have. I won't carry debt unless it is necessary.
As far as selling your "collateral," good luck with that when the recession hits and no one has any money. As far as withdrawing your savings from your investments when the recession hits, good luck with that when your savings are suddenly 50% of what they were.
Do what you are comfortable doing. I pray that you don't learn a hard lesson.
โJan-06-2020 12:26 AM
Bobbo wrote:
For all of those who think it is a good idea to carry debt that you don't need to carry, I hope you never live through a 5+ year recession. I have.
โJan-05-2020 06:42 PM
โJan-05-2020 03:32 PM
goducks10 wrote:
Could you imagine the selection of RV's if everyone paid cash only?
My RV would be a 5x10 utility trailer with the best tent I could find.