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Comment by mikestew | Hacker News Reader

Even TFA points out that this is nothing new, as I was thinking "we bought a new car 20 years ago, and 84 month loans were an option". It was an option that few took, but it was there. Now, apparently, 21% of new car loans are 84 months.

While we're on the subject, here's one for you: if you buy an RV, you can get a 20 year loan. We technically have one at the moment (it'll be paid off after having held the loan for a few months). You think cars depreciate fast? Go buy an RV. I can't imagine carrying a 20 year loan on something that will be nearly impossible to sell before the loan is paid off.

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Isn't the 20 year RV loan for folks who make them their permanent residence? I think they would view it analogous to paying rent for an apartment instead of paying on a depreciating asset.

20 year loan on something that depreciates that terrible is predatory.

Do RVs have a deprecation cliff since you cannot take old RVs to many campsites?

I just looked that up and apparently there are 10 or 15 year rules enforced by some but not all parks. If the RV is older than 10 or 15 years it will be barred from entry.

Apparently the rule is to deter people who do not maintain their clunker of an RV which might break down, leak various fluids or catch fire. The given advice is to keep your rig in good shape and call the RV park and explain the situation. They may request pictures as proof e.g. a well maintained conversion of an old city bus would be fine if your pictures show as much. Some parks might inspect on arrival.

It seems like that would zap a lot of value. Just going through the uncertainty if your RV makes the grade after a certain time.

New dream policy for California: no more 20+ year old RVs street parked in touristy places. They'll end up taking over entire streets around mission bay (a large park in San Diego)

That's an extremely charitable take. Have you ever considered parks just don't want someone who can't afford a new RV?

There are some countries that don’t allow old cars on the road.

Have dealt with this. I own a 2007 RV. Maintain it well enough that it isn't an eyesore, but I'm not going to waste my life on upkeep. I have never been turned away from an RV park in the last ~6 years that I've owned it, even when staying at "must be 10 years old or newer" camp sites.

Like you said, it's more used as a policy to turn away. People who the park doesn't think fits their vibe.

Marine loans for boats also appear to carry 10-20 year terms. Value being subjective and all, if you find the juice tasty enough then it must be worth the squeeze.

Car loans have a bit more of an inherent predatory bent since most Americans need a car to get by. That's not to say we all need a car which costs so much that an 84 month term becomes worth considering...

Boats here cost the same as a car and more, but because they are used far less and have a high resale value (Minnesota has a lot of lakes and a culture centered around water and boating) it might make sense.

I bought a 20yo pontoon for $10K and I could sell it tomorrow for $5K more than I paid for it two years ago.

I cannot do that with a car. No way; no how.

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