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 Ap...
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Good money management habits are essential if one wants to be debt free at some point in their life. We just upgraded our rig also and I was shocked to find they put the financing through for 15 years. Now, I had planned to pay it off asap anyway but on travel trailers that may have a useful life of 10 years or so, that any bank would extend that long a term just boggled my mind. Payment was 244 a month, very affordable but also very easy to get upside down on a loan like that. Fortunately I made a $5000 investment in Philip Morris and Altria 12 years ago, split evenly between the two and reinvested the dividends and that is what paid off our new Laredo. That 5k grew to 31k. Its a beautiful thing.
