Wanted - Accountability Parters - Will not finance new trailer

[Paul B]

Originally Posted by MRimmer

We are close to that but your 10 year old wont work with my wife. I told her a few months ago we should get her a new car to replace the 10 year old Mustang..

The look I got was the look of death. she said its only got 66000 on it and never cost us more than basic maintainence so why do I need a new car.


hmmmm I bought new tires for it.

Now this week I got the details. She will have 30 years in at her employer on 8/9/2008 and has popped the question.

"Can I retire?" ahhhhhhh 48 years old and going to retire? ahhhhhh



I say ok Keep the car and retire if you want. So now you know next August my play money runs out and got to get the truck paid off before then.

Since I can work from any state she is talking maybe a fulltime thing at 50.

thats sounds good to me! I hope she includes me on this venture of full timing.

1 credit card balance of 1200.00 < recent family illness caused a balance to show up. Should be paid off next month.
1 house of to much. 50K equity and our market is still good for now
1 truck of to much. Ok kick me I had to have it and did not have the cash at the time. Making 2 payments per month right now.

Everything else is ours.

"Making 2 payments per month right now."

Instead of making the two payments just make the regular payment and take the second payment and have it applied to the balance. It will pay off much sooner this way.

JMHO.............

Paul B

[MRimmer]

Thats what I am doing sorry for not being clear. It sure is nice to see that balance drop quick as I am doing similar on the home.


Mike

Originally Posted by Paul B

"Making 2 payments per month right now."

Instead of making the two payments just make the regular payment and take the second payment and have it applied to the balance. It will pay off much sooner this way.

JMHO.............

Paul B

[MOOCAT]

A Comment And Question:
I Am 75 And In The Last Year Or So, My Health Has Declined So We Decided To Sell Our 1999 Georgetown M303: With Low Milage And Very Well Taken Care Of. We Had It Posted On A National Rv Website. The Base Price Was Tied To The Rv Blue Book, $32,500, There Was Wiggle Room For Negotiation.
My Question Is What Is The State Of Sales For New And Used Rv's?
I Know Fuel Is High, But An Rv Is Still Cheap Accomodation When Compared To Traveling In A Car Or Van.
Thank You,
Ernest Nunez

[Radio]

Man, it's tough.

With taxes and insurance due my savings have been cut in half, so now I'm only 10% of the way there. Crap!

I thought about paying off the truck and then financing the trailer. That way if the world goes to heck they can't take my truck. Also the monthy payment is lower on a trailer, so if I get laid off, we can still make it on what my wife makes, only even easier than we can now.

And the kicker is this...all I have to do is call either the bank or the credit union...bammo! $23K in debt and a brand new trailer in the driveway, just like that.

Man, it's tough!

[Hokiehall]

There is something to be said for waiting and paying in full vs. going into debt for something. You have no obligation to anyone and it is yours. However, the other side of the coin is to get it now and enjoy it and pay what you would be saving up for it and still use it now. You never know what tomorrow might hold.

It is a tough decision. I don't ever suggest going so far into debt that you are struggling to make it from paycheck to paycheck. I see too many people doing that now. So if you are able to pay off your truck, do that first before considering the trailer.

Remember, on financing a trailer, it is usually considered a second home by the IRS as long as it has kitchen and bathroom facilities and the interest can be tax deductible if you itemize your taxes. Check with an accountant before taking it, but that is the general ruling.