Forum Discussion

yankeeslover's avatar
yankeeslover
Explorer
Mar 24, 2014

Did I make a mistake in Financing? How long do you finance?

oh boy....stupid me.... purchased my camper last summer... 2014 primetime rv... first camper ever... I didn't know any better... none of my family members nor friend camp or own campers so this was my...
bid_time's avatar
bid_time
Nomad II
Mar 24, 2014
JesLookin wrote:
Financing for 12 years is OK. Figure out what the payments would be to pay it off in 6, 8, 10 years & make those payments and pay it off early. OR - Our local credit union has loan sales a couple times a year where you can refinance your camper at a lower rate.
Why do you suggest with no information to pay it off early? I financed mine for 12 years at 5.55%. Over those same 11 years now, my investments earned 8.08%. One size fits all advice don't work.

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