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-   -   Do You Finance Your RV or Purchase Cash (http://www.forestriverforums.com/forums/f188/do-you-finance-your-rv-or-purchase-cash-98645.html)

wicked1 01-01-2016 07:59 AM

Do You Finance Your RV or Purchase Cash
 
Just wondering if people finance their RV's or only purchase with Cash?

I am trying to see if it is worth it to finance my new one or not and keep cash in the bank. This is just a thread of curiosity as I know it depends on financial situations


2014 F150 FX4 Crew 4X4 EB
2015 Roo 23IKSS

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RSchleder 01-01-2016 08:09 AM

Paid cash for our last 3 units. Like most folks, when the kids were young or in college, we financed our cars, RV's, and home. Time and personal situations change and as they say--"Ya gotta do what ya gotta do". Each family/individual will need to use whatever means works for them based on their "point in life" as well as financial situation. There certainly is no one size fits all when it comes to purchasing large ticket items!
Rate of return on savings/investments vs loan interest rates will also be a decision factor by many folks.

DaveSchwartz 01-01-2016 08:23 AM

If you have both the cash and the credit available then it comes down to a calculation of whether it will cost you more to use someone else's money (interest on the loan) than the return you would get in some other form of investment. In addition, there is potential lost opportunity cost (having your money tied up and not available for other needs or opportunities). Plus, an RV is always a depreciating asset and you might be able to use your money for an appreciating asset. Essentially, consider under which strategy you will be farther ahead at the end of the potential finance period.

Like the above reply, it all depends on your individual circumstances.

5er_tom 01-01-2016 08:28 AM

We finance. Low interest rates plus the RV qualifies as a second home so the interest is a deduction on our taxes.


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bob caldwell 01-01-2016 10:11 AM

Paid cash...plan on spend'n it before someone else does

Dogpatch 01-01-2016 10:15 AM

I use my line of credit.

Lower interest rate. Not locked into any term. No payout penalties.

youroo 01-01-2016 10:25 AM

I refinance 3 times then file Bankruptcy !:roflblack: Youroo!! :us-flag-waving:

GOTTOYS 01-01-2016 10:30 AM

Financed over 5 years with a reasonable down payment. We were never upside down on the loan and could have payed it off at any time or sold it and gotten some equity if an emergency came up. Interest on loan was tax deductible. Considered it a forced savings account.

bob caldwell 01-01-2016 10:40 AM

Mine is like a boat....Never stops ask'n for credit card....

Papa GLS 01-01-2016 11:11 AM

Quote:

Originally Posted by youroo (Post 1068899)
I refinance 3 times then file Bankruptcy !:roflblack: Youroo!! :us-flag-waving:

:roflblack::roflblack::roflblack:


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