5 yr extended warrenty on new TT

moparmaga2 wrote:

Bumpyroad wrote:
" I would pocket the $1400 and keep it around for repairs should you need something."

that would be true if he was paying cash for the TT and warranty. I assume he is not doing so. now if he puts that extra 10$ or whatever a month into an emergency savings plan at 0.02% interest and something goes horribly wrong at 28 months he will have a grand sum of $290 to buy that $1000 refrigerator or $500 AC.
bumpy

If the OP does not have $500 for a new AC, I would argue that they have no business having any kind of recreational vehicle, be it a boat, rv, atv or what have you.

Also, $1500 financed over 5 years is $25 a month not counting the interest you are paying every month by financing the additional $1500.
So if the OP put the $25 a month into a saving account, he would have $700, and could easily pay for his air conditioner, and almost pay for his new fridge. If nothing goes wrong at month 28, The OP just hit the jackpot for $700!!!

Humans are definitely an interesting breed. When a human goes to a casino, he or she thinks that they will be the lucky one, no matter the odds against them. But in an extended warranty, Humans think they will be the UNLUCKY one, even though the odds are that nothing will go wrong.

In both situations, it is statistically proven that keeping ones money in ones pocket is the choice that has a greater rate of return.

Several sayings come to mind here, but the most encompassing one would be "The rich get richer, and the poor get poorer." America is a great country, and an individual can choose which he or she wants to do with their money.

Amazing when you think about it.

5 years? what would the payments be over 10-12 years? what is the average length of a motorhome purchase financing now days? the increase in payment is more like $10-11. like I said, in 28 months he would have diddly squat to pay for that refrigerator. but yes, if you can afford to do it, self insure, if not and if a bad refrigerator, etc. will put you out of commission for a summer, then perhaps a person should go that $10. in fact if they cut down on full body paint which seems to be an obsession here, they can save $6,000.
bumpy