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Old 07-22-2016, 10:42 PM   #11
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Does your loan have an option to pay in full with no penalties. If so it is always worth looking around for the best rate out there. Check with your bank on the rate for your line of credit, a small loan etc.. If you can get a better deal go for it. Just be careful though as depending on the rate and term, your $20000 trailer can end up costing over $40000 on a 20 year amortization.
good luck
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Old 07-22-2016, 11:31 PM   #12
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Originally Posted by W5CI View Post
Refinance , I always pay Cash
Pay Cash big deal...Maybe that's why you still have a 2004 model trailer...
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Old 07-22-2016, 11:46 PM   #13
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I been in Finance a long time. Get outta debt quick as you can is the best advice I know.
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Old 07-30-2016, 10:39 AM   #14
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As long as your tt has a bed, kitchen, and bathroom and you "live" in it enough times each year, the tt qualifies as a second home. Now you can claim the interest paid on the loan on your federal income tax. So in essence, the more interest you pay, the bigger tax break you get.

Bob
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Old 07-30-2016, 11:19 AM   #15
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I been in Finance a long time. Get outta debt quick as you can is the best advice I know.
X2! And don't get into it at all if possible. How quickly we forget 2008.
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