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

spike99 wrote:
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Financing RV/TT? NO more than 3 years. If I cannot pay for it within 3 years, then I buy a lower cost unit. And if I buy "well used" and fix it up myself, that's ok too. After all, a TT is only a box - to sleep in. For recreational items, its all about living under one's income limits and NEVER impulse buy.

Same with my pre-owned power boat. < 3 years payments. Little things like kayaks / canoes are cash only.

Vehicles? 0% finance at max 5 years. Most of the time, we do 0% in 3 years as well.

House is paid for and its internals are paid for as well. Nothing owing on credit cards either.

If wondering, single income (in lower middle class) of family of 5 - with one in remote collage.

Unlike many, I don't waste dollars on GM Vehicle On-Star, do lots of coupons (my wife is coupon queen in my little village) and we wear used cloths / shoes. 2nd hand store has my phone number on speed dial. Behind her counter, she has our list of things we're looking for. If an items comes in that's on my list, she calls me - to look it over. And, I wear lots of cloths / shoes that my older brother wants to throw out. And, I'm always "surfing my area" for free things. Just last fall, I got 2 x cords of FREE firewood. 4 years ago, I got FREE roll of steel (from removed above ground swimming pool) and installed in my garage wall as a back-splash / behind my work bench's power grinder area. Free parts for my garage / shop as well. And during summer months, I'll do the odd "dump runs" for my friends and collect a few dollars from each. Giant smiles when making $25/$40 CASH during a single lunch time dump run…. And, I've been known to Cut/Trim neighbour's grass for $25/$30 a shot as well.

Financing RVs/TTs over 5 years is silliness… For me, < 3 years. Never more for a box.