Perhaps. But I can say one thing for sure. I'm a loan officer for a local credit union, and have to sign off on all the loans. As a large part of our customer base are construction types, we make many loans on fifth wheel trailers. The depreciation on travel trailers is double that of trucks/cars. So you're upside down the whole time you own it. Whenever we have to repo, I cringe, because I know we have a huge write off coming.
Said another way, you'll never get what you paid for it, never. If the 'worth' you feel you get for its use outweighs the depreciation, then I say buy one.
But I ain't.
It’s basically a car, so yes you’re “upside down” but cars aren’t investments so who cares. You’re not supposed to get what you paid for it, you’re supposed to use it.
I have a different story. We bought our motorhome in Texas, much cheaper than the midwest rate. After 5 years our Motorhome was flooded. We used the Motorhome for work and paid for it using travel money that would have been used for a hotel. The tax deduction was favorable. Our insurance payout was generous due to local pricing. We replaced it with a beautiful 42 ft repo. We will live out of this soon as we save to build our retirement home. This has been a great investment and will save us a lot in the coming years as we transition.
I have a different story. We bought our motorhome in Texas, much cheaper than the midwest rate. After 5 years our Motorhome was flooded. We used the Motorhome for work and paid for it using travel money that would have been used for a hotel. The tax deduction was favorable. Our insurance payout was generous due to local pricing. We replaced it with a beautiful 42 ft repo. We will live out of this soon as we save to build our retirement home. This has been a great investment and will save us a lot in the coming years as we transition.
Post #54