Thor Forums

[Chance]

Originally Posted by Mr Sunshine

Just a point to ponder, unless you put down a lot more than minimum, a 20 year loan will have you seriously upside down from the start. That means you'll owe more than it is worth. It is rare that anyone keeps an RV for 20 years, and it is no fun to have to come up with extra $$$ to pay off the loan when you sell.

That's the dirty truth that no RV salesperson, or F&I person will ever tell you. You have depreciation that you wouldn't have with a home purchase. Buyer beware!

Great points.

What is the typical minimum down payment? I see Camplng World ads in MotorHome Magazine estimating payments based on 4.99%, 10% down, and 240 months, but figure that's not applicable to most buyers anyway. Plus it makes motorhomes look inexpensive until you figure much higher depreciation which leaves owner upside down.

I've heard rules of thumb that average motorhomes depreciate around 50% in first 5 years -- can't recall exact numbers. Do you know of data for typical depreciation rates in order to avoid going upside down?