RV borrowing

[AbdRahim]

I don't lend anything of high value, car musical instruments, rv, etc. When I was a youngster away at school, my dad lent a friend my prized bass amplifier. It caost me my life savings to age 16. I never saw that amp again. He blew it up, it ended up in a pawn shop and who knows what else. Never again!

 

[Boat Bum]

RV, Boat and Chainsaw fall into the NO LOAN category

Wife didn't make the list?

 

[NWIP]

My dad told me if you can’t afford to replace something don’t ask to borrow it.

 

[J&JD]

Wife didn't make the list?

Does that mean the wife is borrowable?

 

[Tjdave]

I'll add to the NO category.

 

[AuntieDodo]

We have been asked but I was quick to say No, we would be using it.

Ask the person (family or not) can they afford to replace it or fix it if something happened. Or even get ready for your answer to be that in a joking way while getting your point across and quickly change the subject.

 

[GlampDaddy]

Nope! And they wouldn't ask. The learning curve is far too steep.

 

[AndrewCook]

This question often comes up in the boating world as well, the sentiment is the same, a resounding no.

Another topic often related is whether to co-own a boat (RV) with a friend/family member and again the sentiment is usually no, there are always exceptional situations.

I would loan neither (boat, RV), there's just too many things to go wrong even on a good day. When something does go wrong, even if it was part that just plain reached end-of-life, I couldn't help but think if I was driving it may not have happened no matter what the issue.

My nephew, who I love dearly, started his career in financial advising. The first thing the business tells the new guys is to go after family and try to get their business. He approached me and I had been with Fidelity for years and liked my consultant, he has done well for us. I simply told him that money has a way of ruining family relationships and any losses that may result from his investing strategy would likely change our relationship forever; he totally understood.

Cam across your post and wants to check..
Me and 3 other friend's families are getting ready to with below to co-own an RV.

Luxury RV Co-Ownership for 1/4th the cost | Reve

With Reve, experience the joys of RV travel at reduced co-ownership cost compared to sole-ownership or renting. With our LLC ownership model, you co-own your dream RV.

www.ownwithreve.com

 

[Kevin D Pem]

Cam across your post and wants to check..
Me and 3 other friend's families are getting ready to with below to co-own an RV.

Luxury RV Co-Ownership for 1/4th the cost | Reve

With Reve, experience the joys of RV travel at reduced co-ownership cost compared to sole-ownership or renting. With our LLC ownership model, you co-own your dream RV.

www.ownwithreve.com

Yup!!! What many comedy skits are made of!!!

 

[Bigblockyeti]

My uncle owned 1/2 a boat with another co-worker for a while. They both understood expectations and divided up usage, particularly on holiday weekends where it would be more desirable to be on the water. My uncle took care of most of the maintenance, the other guy took care of a bit more of the insurance. Honestly I would only consider doing something similar with dad, my brother or only one of my cousins. I also wouldn't consider it with anything that either party couldn't buy out the other at a moments notice.

Boats, RVs, cars, motorcycles, ATVs, PWCs & planes are all high liability, depreciating assets and must be treated as such. Expectations need to be very carefully understood by everyone involved to avoid hard feelings if something goes wrong. Using a service like Reve is an expensive crutch for those who can't figure it out on their own.