Forum Discussion

cbshoestring's avatar
cbshoestring
Explorer II
Sep 30, 2017

I guess the bank will let us keep it.

I know many say that borrowing money for an RV is not the best option. However, many of us do....as we are not all independently wealthy.

The book says our final (60 month) installment is due in April 2018. Since we have sent "extra" every month, I knew we should be close to early payoff. Called the bank yesterday; payoff amount is less than a full month's payment.

The wife sent the online payment of $102.69.... Once the payment clears, we shall own our "tiny home".

OH WHAT A BEAUTIFUL FEELING.... OH WHAT A WONDERFUL DAY.
Seeking Advice
  • Mr_Mark1's avatar
    Mr_Mark1
    Explorer
    Sep 30, 2017
    Cbshoestring, I know that a lot of people can't pay cash but have the means to pay monthly for a RV. Nothing wrong with that in my book.

    Stretching the budget so far where a hiccup in the economy will cause a person to lose their RV is probably not a good idea. And, what a cloud to have over a person when they live on the very edge of bankruptcy.

    Sounds like you did it right! Congrats!

    Safe travels,
    MM.

    PS. I see from your profile that you have the 'Jane and George Jetson' edition as you have a 2102 5th wheel! :p
  • cbshoestring's avatar
    cbshoestring
    Explorer II
    Sep 30, 2017
    Mr.Mark wrote:


    PS. I see from your profile that you have the 'Jane and George Jetson' edition as you have a 2102 5th wheel! :p


    Dyslexic fingers
  • 2oldman's avatar
    2oldman
    Explorer II
    Sep 30, 2017
    cbshoestring wrote:
    ....as we are not all independently wealthy.
    Congrats. No, but when you retire it's nice if you are.
  • Chainwright's avatar
    Chainwright
    Explorer
    Sep 30, 2017
    cbshoestring wrote:
    I know many say that borrowing money for an RV is not the best option. However, many of us do....as we are not all independently wealthy.

    The book says our final (60 month) installment is due in April 2018. Since we have sent "extra" every month, I knew we should be close to early payoff. Called the bank yesterday; payoff amount is less than a full month's payment.

    The wife sent the online payment of $102.69.... Once the payment clears, we shall own our "tiny home".

    OH WHAT A BEAUTIFUL FEELING.... OH WHAT A BEAUTIFUL DAY.


    Congrats man. I know the feeling. Have a cigar on me. LOL
  • naturist's avatar
    naturist
    Nomad
    Sep 30, 2017
    Congratulations! I used to know a guy who was fond of saying debt is a form of slavery and that true freedom is only possible if you owe no one anything. Until then, you MUST have an income, so you MUST have a job, which means you have a boss, and thereby your slave master . . . .
  • DutchmenSport's avatar
    DutchmenSport
    Explorer
    Sep 30, 2017
    Congrats!

    Thee was a time in my life I was 100% debt free! I owned absolutely nothing to anyone or anything. ..... Then I got married! (and 5 grandkids later!)
  • Lwiddis's avatar
    Lwiddis
    Explorer II
    Sep 30, 2017
    CB, I believe that "pay cash" advice is for those who owe bunches to bunches and adding an RV payment may push them over the edge. Doesn't appear you are one of those....I see so many people in my biz drowning in debt.

About RV Tips & Tricks

Looking for advice before your next adventure? Look no further.25,101 PostsLatest Activity: Jan 14, 2025