GTN_and_Catz wrote:

Well, of course - be careful. But that pretty much goes without saying when it comes to credit - doesn't it?

With no mortgage and no outstanding debts - for us and the bank it was a "no-brainer". Leave the assets in place, earn more than the cost of the loan with the equivalent investment, deduct the interest charges and figure out what the bottom line looks like. We did a little research and went with the forecast of lower short-term interest rates and guessed right! They went down instead of up for a change. Of course, it helps that we aren't talking luxury coach here

While we won't catch it at rock-bottom, when the interest rates (short term and variable) start back up, we'll lock in the balance at a term rate and feel good about the whole transaction.

luvsracin55 wrote:

If you are looking to buy your first RV, do your homework. My husband and I decided to look for a motorized RV earlier in the year. We went to a Boat and RV show -- talked to a dealer -- arranged a visit to the dealership. We really were more interested in a smaller unit on a Ford Econoline chassis. The dealer had a couple -- but would need too much work to make usuable (and we didn't need another project). To make a long story short -- we are now the owners of a 1997 Winnebago Brave DL. But we made the mistake of not test driving it first although they warranted that all appliances were in excellent working condition. We have since had to replace all the components of the panel air conditioning and the front roof air conditioner (about $2,000). We tried to work this back through the dealer -- gave us the runaround and didn't give us the time of day. So, not only research the type of unit you think you may be interested in; but research the dealers in your area. If they have a website -- check it out. If you have co-workers or friends that have RV's find out what dealer they patronize. The only local dealer in our area doesn't carry motorized units but, luckily, they will work on them. This experience has left my husband wishing we hadn't bought one -- although we have had excellent experiences to date on our trips. Good luck and hope your experiences are better than ours.