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Old 04-18-2014, 11:36 PM   #61
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I would hardly think anyone on an RV forum board would be really hurting for money.

Either way....you should ALL send your money to me and i'll keep an eye on it for you!
I just paid the ir robbery s.......ouch....call uncle sam and see if he will fwd you my pmt...lol.... :-(

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Old 04-19-2014, 07:56 AM   #62
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If you're waiting for month 37 to make a balloon payment, don't. Make lump sum payments as early as you can, calculating how much to pay so payment 36 for the minimum required amount is the final payment. That minimizes the total interest you pay, without a prepayment penalty.

Chris
No balloon payment, they are all the same.
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Old 06-10-2014, 09:16 AM   #63
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I dont buy things i cant pay off in full at any time.
When a major expense crops up...its not a problem.

Cash is still king.
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Old 06-10-2014, 02:22 PM   #64
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I dont buy things i cant pay off in full at any time.
When a major expense crops up...its not a problem.

Cash is still king.
You, my man are what is called a "statistical anomaly" Seriously, the average person is in debt up to their eyeballs. And, most don't understand that the "rate" on a loan is almost meaningless. It's "time" in the finance equation, that is your enemy.

Do this simple test. Go to NADA, for recreational vehicles and look back, if your model is listed, and see how fast it drops in value over time. What you will find is tha tfor most RVs, the original new purchaser is upside down, as you near the 10 year point. And the hole gets deeper after that.
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Old 06-10-2014, 03:38 PM   #65
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A large part of the issue is looking at an rv as an "investment".....its not...unless you buy a severly distressed unit or a severly old unit you going to lose money. (Not to mention the associated use/maintenance/mod costs! ).....im far from a "financial guru"....but I have exacly 0 wealthy/multimillionaire friends who do not utilize financing of some sort often....and i have a few!....every situation is different but we can all agree fianancing a "lifestyle" is a bad thing....its not necessarily the financing itself that is the enemy....ill finance a distressed property at a low rate in a heartbeat. ..and have never failed to break even or make money on those....but thats a huge difference than using 15% of your disposable income on a "toy" you may use 10 times a year and will NEVER see your money back on...paying "cash" for something just because you "can" isnt always the best strategy...even in a "luxery" purcahse like an rv/atv/boat...so I make it a point not to beat on someone for their use or NOT use of financing until I understand their situation/plans......well..I usually do...some financing institues out there PURELY PREDATORY...consumer beware.....and all that... ;-)

sent from fat fingers via a space dish thing with no regard to grammer.
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Old 06-10-2014, 07:17 PM   #66
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Avoid US Bank at all costs. If you must finance, don't do it through these mean, nasty heartless folks.

I financed with US Bank on recommendation of the dealer.Two years into RV ownership my job went away. Two months later, my wife's job went away. All of my other creditors worked with me, except US Bank, who basically stated if I was 30 days late, ever, they would repo the trailer, sell it for pennies on the dollar, and sue me for the balance.

They could have let me make interest only payments, like my CU did, but chose not to. The CU actually made more money on my loan with them by working with me, getting 8 months extra interest they otherwise wouldn't have gotten. US Bank stupidly said NO.

Once I was financially able to refi with my credit union, who I should have financed with in the first place, I made US Bank go away.

And every time I get the chance I tell anyone who will listen to stay far away from them. If your bank or CU will not work with you, you probably need to get in better financial shape or get a cheaper unit. Anything but US BANK
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Old 06-10-2014, 08:16 PM   #67
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A bank will lend you an umbrella on a sunny day.
On the first sign of rain they will want their umbrella back.

This is pretty much how lending works.
Want to be free....dont get in debt.
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Old 06-10-2014, 08:19 PM   #68
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A bank will lend you an umbrella on a sunny day.
On the first sign of rain they will want their umbrella back.

This is pretty much how lending works.
Want to be free....dont get in debt.
X2
Been lucky these last few years that if we can't pay cash for whatever we want, we don't buy it. If we don't pi-- it away before we kick off, the 2 boys can have what's left. Just don't want them to have to pay for something we couldn't afford.
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Old 06-10-2014, 09:38 PM   #69
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I would say some of us are luckier than others I am very fortunate to have the things and people that I do in my life my truck and camper are 10 years old each but everything works is washed waxed and maintained and we enjoy them as much as any $100000 new rig.
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Old 06-10-2014, 10:28 PM   #70
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I'm glad you folks who posted today got on. If you haven't yet, you should go back and look at all the rants I got when I said the same things you did.
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