So here's a related question:
I know you can finance RV's over longer periods (10, 20 years) making the payment more workable for those of us without trust funds
. However, then you run into the potential that depreciation accumulates faster than your principal payments, leaving you upside-down when you want to sell.
Anybody have a rule of thumb to follow on this? Any handy online calculators that would help to project a sustainable payment level where you're at least break-even at the end point? I guess you'd at least need some sort of depreciation estimator (% of value per year, I assume it's on some sort of curve).
I realize there are a number of variables in play here - just curious how others have approached the question.
I guess there are three lines of thought:
1. Pay off faster than depreciation so that you have trade value at sale
2. Pay off equal to depreciation (you're renting the rig from the bank) & sell at break even.
3. Pay off less than depreciation & have a balloon payment at the end to get out of it.
Oh, 4. <enter nefarious zone, proceed accordingly> (not recommended)