bid_time wrote:
beemerphile1 wrote:
bid_time wrote:
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.
Maybe because the OP is obviously stressing over the twelve year payback period. The OP asked for opinions.
He also said he can't afford to double up on payments and pay it off sooner. One size fits all advice still doesn't work. You don't even know what interest rate he is paying - that would be a beginning point at the very least.
The OP is asking for opinions. I gave him some ideas. If he doesn't like my ideas he can ignore them or let me know. I don't need anyone else that didn't give any alternate ideas telling me my ideas suck.
Also he doesn't have to double his payments to pay off early, a few extra dollars go a long way on a long way to payoff term loan early.
Now excuse me, I'll keep my ideas to my self.
