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 > 20 year loan for RV?

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Lynnmor

Red Lion

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Posted: 03/26/20 08:18am Link  |  Quote  |  Print  |  Notify Moderator

bid_time wrote:

valhalla360 wrote:

...Buying on margin works great when the market is red hot. When it takes a dump, it's really painful.
Not at all, it's only painful if you sell. Holding a paper loss costs you nothing, just like holding a paper gain nets you nothing.


I thought that "paper" nonsense was obsolete 30 years ago. If your portfolio is down 25%, you done lost 25%. Don't believe that? Ask yourself if your neighbor invests the same amount as your new low figure on the day you bottom out if he has more, less or the same.

There is so much bull that comes out of investment firms, for example:
In it for the long run.
Hang in there, it'll come back.
Market timing won't work.
And many more geared to keep all your money with them.





bid_time

Michigan

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Posted: 03/26/20 08:51am Link  |  Quote  |  Print  |  Notify Moderator

Lynnmor wrote:

bid_time wrote:

valhalla360 wrote:

...Buying on margin works great when the market is red hot. When it takes a dump, it's really painful.
Not at all, it's only painful if you sell. Holding a paper loss costs you nothing, just like holding a paper gain nets you nothing.


I thought that "paper" nonsense was obsolete 30 years ago. If your portfolio is down 25%, you done lost 25%. Don't believe that? Ask yourself if your neighbor invests the same amount as your new low figure on the day you bottom out if he has more, less or the same.

There is so much bull that comes out of investment firms, for example:
In it for the long run.
Hang in there, it'll come back.
Market timing won't work.
And many more geared to keep all your money with them.
So if your portfolio is down 25% can you deduct it on your income taxes as a loss? NOPE
You pay Capital gains tax when you sell, you deduct losses when you sell; you get neither a loss nor a gain until you sell.
So - there goes the theory paper loss equals real loss.
You can keep your money in your mattress if you like, I prefer not to; but thanks anyway for the investment advice.





valhalla360

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Posted: 03/26/20 08:11pm Link  |  Quote  |  Print  |  Notify Moderator

bid_time wrote:

valhalla360 wrote:

...Buying on margin works great when the market is red hot. When it takes a dump, it's really painful.
Not at all, it's only painful if you sell. Holding a paper loss costs you nothing, just like holding a paper gain nets you nothing.


Except on margin, you are paying out no matter what because the interest still needs to be paid.


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ppine

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Posted: 03/27/20 09:27am Link  |  Quote  |  Print  |  Notify Moderator

I know lots of people that studied finance in college. They can tell you all about the futures market, commodities trading, day trading, leveraging real estate, etc.

One of them is bankrupt, one lives in a broken down motor home that does not run, several of them are in hock up to their eyeballs and today look like deer in the headlights. Their lives are a house of cards and they know it.

thead

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Posted: 03/27/20 10:16am Link  |  Quote  |  Print  |  Notify Moderator

I bought my 1992 Monaco Beaver Contessa for $15,000 the MSRP on it what's $325,000 it's a luxurious 3208 Caterpillar 4 speed transaxle Diesel Pusher, the body is in seriously nice shape with 0 delamination, solid as a rock handling down the road, I purchased the vehicle with cash and have been living in it since 2013, one of the best investments I've ever made, I will be heading from Virginia to Lake Chapala Mexico in a month or two and know that my rig will be trouble free, the only thing that has given me trouble is the hydraulic jacks that are on it for when I park long term, it's computer controlled,along with the air ride, I had to wire it all bypassing the computer, now it works fine + i have complete remote control. I would not go out and purchase a newer rig that has not proven itself over many years especially the **** they manufacture these days that has computer-controlled engines as well as drivetrain. Not even to mention slide outs. They are like electric windows only more **** to go wrong. [emoticon] I could sustain a sizeable EMP hit and the only thing I would probably lose is the radios,short wave,CB,PC and 65" TV if I'm using them at the time. Otherwise my 3208 will keep on tickin down the road as long as I feed it it's funky green juice. As far as finances go, dont belive the hype I have been holding Bitcoin a many a year yes it goes up and down, if I had of sold it at 20K I could have bought back at 3K thats a hell of a gain. Do not try and guess that U will come out ahead because U never know what U're Govt is gonna throw in the mix to screw U over next! [emoticon] I'm gonna be an expat an live the chill life down south, U can have this $h!tty american dream all to yourself.

* This post was edited 03/27/20 10:25am by thead *

Ivylog

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Posted: 03/28/20 02:26pm Link  |  Quote  |  Print  |  Notify Moderator

ppine wrote:

Hey bid time. How is your stock portfolio doing?
Financing an Rv for 20 years is a bad idea no matter how you try to rationalize it.
Now is the wrong time to make any major purchase.

My thought exactly... making 10% puts your capital at risk and the risk has arrived. Hope you can keep making those payments as those extra ones usually go on the back of the loan... do not buy you any grace period.


This post is my opinion (free advice). It is not intended to influence anyone's judgment nor do I advocate anyone do what I propose.

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winniman

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Posted: 03/28/20 04:25pm Link  |  Quote  |  Print  |  Notify Moderator

After reading all the posts, I can only say if someone is living for today, only to pay tomorrow, they are possibly finding out right now why you shouldn't do it. I know people that have a new house, two new cars, and a yard full of toys. They are now both laid off. Things are going to get real for a lot of people.

time2roll

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Posted: 03/28/20 04:40pm Link  |  Quote  |  Print  |  Notify Moderator

I agree having multiple loans to leverage all your toys can be a disaster.

However in times like these a 20 year loan is more flexible than a 5 year loan. And yes get the one paid before you go in on to the second.


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way2roll

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Posted: 03/29/20 05:43am Link  |  Quote  |  Print  |  Notify Moderator

winniman wrote:

After reading all the posts, I can only say if someone is living for today, only to pay tomorrow, they are possibly finding out right now why you shouldn't do it. I know people that have a new house, two new cars, and a yard full of toys. They are now both laid off. Things are going to get real for a lot of people.


Unless you blew all your cash on a depreciating asset. Those who financed still have cash and a choice to default the loan or not. Once the cash has left your hand, it's gone. Financing leaves multiple options. No options with cash. You'll see the same people that paid cash losing their jobs and selling their RV's at a tremendous loss.

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