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Old 08-07-2012, 09:58 PM   #31
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Quoting good ole Joe seemed to work at the time

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Old 08-08-2012, 07:04 PM   #32
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Old 08-12-2012, 08:22 PM   #33
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Most down payment statements are sales gimmicks designed to get you to the bargaining table only. The real down is a function of risk the lender is willing to assume based upon your credit worthiness profile. Good credit profile gets to put less down than one with worse profile.
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Old 08-15-2012, 06:40 PM   #34
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Who did you get the 4.75 percent rate from if you don't mind me asking?
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Old 08-15-2012, 07:43 PM   #35
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Who did you get the 4.75 percent rate from if you don't mind me asking?
Ditto for me. Just ordered our unit, so this info would definitely come in handy.
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Old 08-17-2012, 10:10 AM   #36
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Remember, even though something is deductible, you are still bearing an interest cost. So a 5% rate may end up costing you 3% after taxes.
x 100!!!

Don't get suckered in when the salesperson, bank, & others tell you the interest is deductible. It is. But you don't get all the interest back dollar for dollar - or even close to that. A 5% rate will still cost you very close to 5% after the interest deduction. Here's a fun weekend exercise if you use software like TurboTax:
- Open up last year's return.
- Write down what your refund or payment was.
- Edit your return removing your home & / or RV interest deduction.
- See what your new refund or payment would have been.
- Figure our how many pennies you get back for each dollar of interest paid. You will be shocked at how low it is. Everyone's tax situation is different. In our case, we got back less than ten cents per dollar of interest paid.

(disclaimer: this does not directly answer the op's question about required down payment but should be a factor when making payment decisions)
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Old 08-17-2012, 11:08 AM   #37
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0 down and 3.99% through our credit union.
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Old 08-17-2012, 03:44 PM   #38
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Our local credit unions are in the 5.8% to 6.25% depending on the loan amount. Sounds like you hit the jackpot of low interest rates! Wish we could locate a lower rate.
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Old 08-22-2012, 12:44 AM   #39
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Just refi'd our rig for 4.79 through Bank of the West and knocked 30 months off the loan and saving $16k in interest. When I bought it new I got 6.39 through USAA - when I told USAA about the new refi rate and term they could not match it.
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Old 08-26-2012, 08:50 PM   #40
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11 months out of bankruptcy we wanted to rebuild our credit but not use credit cards to do so. decieded to buy another camper to accomplish this. Used the credit union our vehicles are financed through. credit union didn't require a down payment but we put down 3,000 and got a 9.45% rate considering our bk I thought it was good . will pay for a yr or so then refi when credit score has improved. we pick it up friday. I'm ready to do some camping
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