Camping World Financing

NanciL wrote:

Jayco-noslide wrote:
i preach against financing anything but a home but not too many listen.

I'll second that and I am one of the ones who won't even finance a home any more.
My wife and I built our last two from the ground up.

A truly happy person is one who doesn't owe a penny to anyone

jack L

Wow. I never knew that I wasn't ever "truly happy" the last 40 years. How do you do it, never owe a penny to anyone? Do you prepay your taxes? Your utility providers must use a different system than what I am used to. I am always billed ( meaning I owe them) for the previous month's usage. Do you also prepay for restaurant meals and the like? To me, never owing a penny to anyone seems like a lot of hassle. And saying people that do owe cannot truly be happy seems pretty dang judgemental to me.

Nice thread starter sandblast. This one took off.....like a cat with a ball of string....all over the place.

NanciL wrote:

Jayco-noslide wrote:
i preach against financing anything but a home but not too many listen.

I'll second that and I am one of the ones who won't even finance a home any more.
My wife and I built our last two from the ground up.

A truly happy person is one who doesn't owe a penny to anyone

jack L

Are you sure you don't owe a penny to anyone? Try not paying your real estate taxes for a few years and come back to let us know how that worked out for you.

There always seems to be those who insist on preaching against financing. While I think paying cash for everything is not unadmirable, it's also not feasible for a great number of people who have the ability to pay cash. There are those examples of making more on investments than losing on financing costs. You also have those who can buy on ZERO percent interest for "XX" number of years. But, a blanket statement of "never financing" discounts the financial position of a great number of people who are generally advised against paying cash. For example, I could pay cash for a brand new piece of heavy equipment if I wanted to. However, my CPA advises on taking advantage of the tax laws that are more beneficial to those who finance. Also, with leaving cash in the bank, I'm in a better overall business position than if I took it out. Keep in mind, this is all relative to running a successful business in the specific trade that I'm in.

Oh, and yes, CW arranged financing for my rig that was 10 years old when I bought it.

jplante4 wrote:

1968mooney wrote:

rk911 wrote:
only 13.3%?

Must be very conservative investments. Everyone I know made at least 25 percent on 1 mil. investment.

When you get old you dial back the risks and therefore the rewards. If your financial advisor is not advising you to do this, he/she is being reckless with your money.

sorry you missed out on the rewards.

Jayco-noslide wrote:
i preach against financing anything but a home but not too many listen.

Probably because most of us don't have your money! Lol!

1968mooney wrote:

rk911 wrote:
only 13.3%?

Must be very conservative investments. Everyone I know made at least 25 percent on 1 mil. investment.

When you get old you dial back the risks and therefore the rewards. If your financial advisor is not advising you to do this, he/she is being reckless with your money.

Either I misunderstood or others have. I think the point is that CW is selling RVs with the price contingent on financing thru CW.

CW gets a big kickback from the finance company which allows them to sell the RV at a lower price. If you choose not to finance thru CW the purchase price is higher. That is why I said that providing there is no prepayment penalty; make the deal and then pay in full when the first payment comes due.

rk911 wrote:

wing_zealot wrote:

rk911 wrote:

as for financing...you're going to be much happier with a cash buy rather than payments hanging over your head. is it harder...well, it certainly takes a bit longer to save up the cash but it's worth it. we've done it both ways and find that overall we're better off and financially ahead by paying cash.

I had the exact opposite experience. Last year I made 13.3% interest on my money by keeping it invested, while paying 4.4% interest on the RV loan. A 9% payday for me.

only 13.3%?

Must be very conservative investments. Everyone I know made at least 25 percent on 1 mil. investment.

wing_zealot wrote:

rk911 wrote:

as for financing...you're going to be much happier with a cash buy rather than payments hanging over your head. is it harder...well, it certainly takes a bit longer to save up the cash but it's worth it. we've done it both ways and find that overall we're better off and financially ahead by paying cash.

I had the exact opposite experience. Last year I made 13.3% interest on my money by keeping it invested, while paying 4.4% interest on the RV loan. A 9% payday for me.

only 13.3%?

real simple find your own lender. so your not paying a commission to cw.