Academy of Financial Services
This study investigates the financial behavior of individuals that own campers, boats, motorcycles, snowmobiles, personal aircraft, and other powersports vehicles. Because of the extraordinary expense associated with buying, maintaining, and operating these leisure vehicles, owners must be extremely diligent in planning in order to meet financial goals and exhibit good financial behaviors. The study finds that leisure vehicle ownership is associated with increased financial knowledge. However, leisure vehicle ownership is also associated with increased debt levels, including credit card debt. While leisure vehicle owners know more about personal finance than their non-leisure vehicle owning counterparts, leisure vehicle owners display worse financial behaviors. This information provides value to individuals, planners, and policy makers alike.
Author(s): Andrew Scott, Stuart Heckman