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Old 01-11-2018, 07:35 PM   #41
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I refuse to use my hard earned $$ to support someone else. !
So... You don't ever buy anything???
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Old 01-11-2018, 07:39 PM   #42
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Interesting but so true. As well I just watched it at 7:30 EST on Jan 11.. Camping world makes their money like some car dealers do. Suck them in with a low advertised price then hammer them with up-sells and add-ons. It is worth while to get a price and then shop shop shop. On the last MH We purchased, one dealer quoted us a price but at 4.99% interest. Went to another dealer...on the identical coach, the price was the same but the interest rate was 3.25%. Over the term of the purchase the saving was $14,285.00 in my pocket not the dealers. Shop, Shop, Shop and be prepared to walk out always .. Think about it and if then you think it is right for you...go back..the deal will still be there.
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Old 01-11-2018, 07:48 PM   #43
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So... You don't ever buy anything???
I donít finance anything. I just refuse to pay interest. Works for me, but itís easy to see that the majority of folks cannot or will not wait till they can save to purchase a car, RV, etc. When I was younger I purchased 2 homes, financed both and worked as much overtime and a second job to pay both off ASAP. Been Full Time RV for 21 years now and never financed any RV Iíve purchaced, witch in 21 years thatís been 6 units. Do you really think the bank, credit union, any financial institution really has your best interest at heart. I take care of #1 and donít feel sorry for folks that over extend because of no will power. JMHO.
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Old 01-11-2018, 09:36 PM   #44
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Thanks Decon. Well done, however most of us other folks do not have your willpower. So we finance. And there are other reasons to finance too. In our case financing was 3.25% but the value of our holdings was increasing at the rate of 5 to 6% and since we continued to operate a small business while we were travelling, we were able to write off both the interest part of the principle and some travel costs. There are benefits for some of us to finance.
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Old 01-11-2018, 10:15 PM   #45
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Go to your bank or Credit Union and get approved for a loan.

THEN go to your RV dealer and make a deal.
Exactly, and watch for the extras the dealer tries to tack on.
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Old 01-11-2018, 10:41 PM   #46
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That video was very disturbing. While I certainly would not consider myself a sucker, forewarned is forearmed. I have been fortunate to deal solely with a small RV dealer that has been in business for 50 years and for me anyway, has dealt with men fairly. I am not lucky enough to be able to pay cash for my RV and as others have stated, without the ability to take out a loan on my RV, I would not be able to camp. I prefer a fair loan to an unscrupulous loan any day.

As far as how a state attorney general can get involved in a situation like the video, I have sought involvement from both the CPFB, referenced in the video, and my state attorney general's office on different financial matters and have been fortunate enough to say I have come out on top when I was otherwise being ripped off. If enough people are bringing attention to their state attorney general about an unscrupulous business, the attorney general can often times bring about change for the better to the consumer.

Go forth, for those of us who have to get a loan to purchase an RV, but be careful. Camping should be fun, not stressful because you will never be able to pay your camper off.
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Old 01-12-2018, 12:32 AM   #47
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I bought a toy hauler from an out of my state dealer and everything and I mean everything was above board and ethical. I had it transported by a bonded carrier. Best deal I've ever made. Financed via us bank at a better rate than I could have found locally.
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Old 01-12-2018, 02:11 AM   #48
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I agree with that statement partially. I need to finance my RV. Not because I couldnít pay for it outright but for the fact of needing the wright off for taxes. I either pay a monthly payment and have a weight off from it or at the end of the year I wright a check to Uncle Sam. Iíd much rather use MY money and enjoy it instead of someone else...
You do realize for every dollar saved from this type tax deduction you pay more in interest they you save on your taxes, the gov doesnít give you dollar for dollar back. When you finance you give more of your hard earned money to a banker then you would Uncle Sam.

Better off paying cash and not having the tax deduction.
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Old 01-12-2018, 02:15 AM   #49
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For me I wright off the entire amount through my business as a marketing tool. So for most, I get your point.

I have to spend money or I’ll simply send a fat check at the end of the year!
That fat check will still be smaller then constantly making unneeded business expenses. Also to deduct business expenses they do not need to be financed. So you could pay cash and still deduct it for your business and not pay the interest. Historically you couldn’t deduct it all in the first year but over time.

As someone else said, only reason to finance is because ithe interest payments are less then the returns you can earn from investing that money.
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Old 01-12-2018, 02:19 AM   #50
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That fat check will still be smaller then constantly making unneeded business expenses. Also to deduct business expenses they do not need to be financed. So you could pay cash and still deduct it for your business and not pay the interest. Historically you couldnít deduct it all in the first year but over time.

As someone else said, only reason to finance is because ithe interest payments are less then the returns you can earn from investing that money.


At 3% on $35 financed... Iíll pay it. Wonít get that kind of return on many investments if any.
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Old 01-12-2018, 02:50 AM   #51
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That fat check will still be smaller then constantly making unneeded business expenses. Also to deduct business expenses they do not need to be financed. So you could pay cash and still deduct it for your business and not pay the interest. Historically you couldn’t deduct it all in the first year but over time.

As someone else said, only reason to finance is because ithe interest payments are less then the returns you can earn from investing that money.
Yep, I own a few businesses. Trying to pay interest on purpose to get a tax deduction for only that reason is a way to go out of business.
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Old 01-12-2018, 03:21 AM   #52
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I bought a toy hauler from an out of my state dealer and everything and I mean everything was above board and ethical. I had it transported by a bonded carrier. Best deal I've ever made. Financed via us bank at a better rate than I could have found locally.
I bought our 5'er from an out of town dealer too. The vehicle was what we wanted, price was good and availability date gave me time to find a suitable tug. Everything worked out just fine, until the warranty issues started to arise. Then it was a case of ... ring, ring, 'hello', uhg", clunk.

But we too had saved hard and long, invested well and paid cash. The only way to go.
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Old 01-12-2018, 05:38 AM   #53
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Go to your bank or Credit Union and get approved for a loan.

THEN go to your RV dealer and make a deal.
That's the way I do it. Get pre-approved. Then I know what I'm dealing with ahead of time. Then, when the deal is set, I tell the dealer where to get my money.
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Old 01-12-2018, 08:09 AM   #54
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Iím wondering how the new tax law will affect sales. The tactics discussed here may be moot now.
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Old 01-12-2018, 09:23 AM   #55
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Buyer beware and educated.

I was impressed that this dealer didn't just bash CW and say buy from me, but listed the problems and who to contact if you feel you were deceived. Always read and understand all purchase invoices and if you have a bad feeling, walk away. There are a thousand other RV dealers who would be happy to sell one to you.
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Old 01-12-2018, 09:55 AM   #56
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No SUPERIORITY intended, just common sense. I refuse to use my hard earned $$ to support someone else. Cash gets better price, no interest, no paying for a unit thatís loosing value every year. When I was young my family tent camped and the tent was not financed !!
Actually, cash doesn't always get the better price. For example, if you finance a new vehicle, you can often save thousands thru incentives. You can obviously pay the note off, but you have to finance to save up front. The fallacy in your assessment of those that finance is the idea that if you finance items you're ignorant and lack "common sense", as you state it. I'm under no illusions that when I finance something it is costing me more than paying cash. However, if you are able to finance at a low rate and actually account for inflation over the time period it would take to save up for a big ticket item like an RV, the difference will likely be less than you think. In cases of a new vehicle, if you also account for the additional expense of maintaining an older car, it can often be less expensive to pay the interest. For example, say I can buy a new vehicle and spend $5,000 over the next 6 years paying it off in finance charges. In 6 years time, that same new vehicle could very well cost several thousand more. If you are currently driving an older, less fuel efficient car that is requiring regular repairs, it's not hard to see how you could actually SAVE money over that 6 years by financing. According to the "experts", I should be working in a much more time consuming and higher paying career- which I'm fully capable of- in order to stash back large amounts of money into retirement accounts, college savings funds and so on. My wife should also be working and focused solely on chasing the almighty dollar while someone else raises our children. We've chosen a different route- thoughtfully and intentionally. I may have to work longer than some. I'd much rather be sitting at a desk at 65 surrounded by pictures of the awesome experiences I had with my family over the years as opposed to sitting in some luxurious Class A wondering why the kids never call or come around anyway. Different strokes for different folks, right?
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Old 01-12-2018, 10:07 AM   #57
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Actually, cash doesn't always get the better price. For example, if you finance a new vehicle, you can often save thousands thru incentives. You can obviously pay the note off, but you have to finance to save up front. The fallacy in your assessment of those that finance is the idea that if you finance items you're ignorant and lack "common sense", as you state it. I'm under no illusions that when I finance something it is costing me more than paying cash. However, if you are able to finance at a low rate and actually account for inflation over the time period it would take to save up for a big ticket item like an RV, the difference will likely be less than you think. In cases of a new vehicle, if you also account for the additional expense of maintaining an older car, it can often be less expensive to pay the interest. For example, say I can buy a new vehicle and spend $5,000 over the next 6 years paying it off in finance charges. In 6 years time, that same new vehicle could very well cost several thousand more. If you are currently driving an older, less fuel efficient car that is requiring regular repairs, it's not hard to see how you could actually SAVE money over that 6 years by financing. According to the "experts", I should be working in a much more time consuming and higher paying career- which I'm fully capable of- in order to stash back large amounts of money into retirement accounts, college savings funds and so on. My wife should also be working and focused solely on chasing the almighty dollar while someone else raises our children. We've chosen a different route- thoughtfully and intentionally. I may have to work longer than some. I'd much rather be sitting at a desk at 65 surrounded by pictures of the awesome experiences I had with my family over the years as opposed to sitting in some luxurious Class A wondering why the kids never call or come around anyway. Different strokes for different folks, right?
I went to a "buy here, pay here" dealer a long time ago. The cash price for a car on his lot was significantly higher than if I paid him by military allotment. Didn't like his business practice, so I left.
Ever notice that the guy who owns the dealership, usually lives in one of the nicest homes in town?
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Old 01-12-2018, 10:13 AM   #58
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I went to a "buy here, pay here" dealer a long time ago. The cash price for a car on his lot was significantly higher than if I paid him by military allotment. Didn't like his business practice, so I left.
Ever notice that the guy who owns the dealership, usually lives in one of the nicest homes in town?
OK, you're in a whole different world if you're talking tote the note places. I am talking about dealer incentives at any actual new car dealer. Usually you can get an additional incentive, many times several thousand dollars, by financing thru the auto manufacturers credit service, i.e. Ford Credit.
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Old 01-12-2018, 10:18 AM   #59
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OK, you're in a whole different world if you're talking tote the note places. I am talking about dealer incentives at any actual new car dealer. Usually you can get an additional incentive, many times several thousand dollars, by financing thru the auto manufacturers credit service, i.e. Ford Credit.
Yeah. A friend of mine with bad credit, got $10k off the price of a car they were pushing, and financing. But they wouldn't finance a lower price car that she could afford. It's all just a numbers game. The dealer, or the salesman, isn't going "to lose any money" when they sell you a vehicle. No matter what they say. They just won't make as much, if you, the buyer, are smart.
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Old 01-12-2018, 11:05 AM   #60
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Iím wondering how the new tax law will affect sales. The tactics discussed here may be moot now.
Definitely true. Right now 30% of households itemize. The estimate for 2018 is going to be 5%. That's one of the reasons charity organizations are worried.
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