About to purchase- Finance questions

wing_zealot wrote:
Financing $12K for 12 years you are never even going to get close to 5%. I think if you start checking rates online, in order to get anything close to 5% you would need to finance about $25K or more. You did well by getting 5.99% if you ask me.
Now it's time for the popcorn as you get all the "how stupid you are" from the pay cash folks.

I'm one of the "pay cash" folks as I pay cash for everything I purchase (except house). I recently bought our 2009 Cherokee 31B (37' travel trailer) for less than 10k. The thing looks almost brand new. I've had to do a few minor repairs, but nothing major.

A few years ago I would have been in your shoes about financing until my wife lost her job. At the time we were dependent on both of our incomes to pay the monthly bills. I know God put me through that so that I would personally learn a lesson. I now have the cash only motto and if I can't pay cash for it (especially for what I consider a toy) then I don't need it. Yeah it'd be nice to have a brand new camper, but for half the price or less you could get one a few years old that is practically new.

To me, a camper that I use for recreation is not worth me losing sleep over if something happened and my wife or myself lost a job again.

Would I say that anyone who finances anything is "stupid"? Of course not, I just know that I sleep better at night knowing that if something were to happen the only thing I'm worried about financially at that point is my house.

Just my 2 cents.......