ddschuman wrote:
I am going to chime in here one last time. What works for one or makes sense to one does not always work or make sense to another. I, myself, paid cash for a TT but wanted a FW with higher ceiling and more space for comfort. I can afford my payments and will pay it off in less than 1/2 the time I have it financed. It makes sense to me because I have a unit that is comfortable and I enjoy my time using it. I camp because I love to go places but prefer my own accommodations over a hotel. Plus, I can take my two little dogs with me without worry...they travel well by the way and go everywhere with us. Our children are grown. I could have waited a few years and paid cash and according to some on here, that would be the proper thing to do but you know what? I enjoy it now and am making memories now. There is nothing wrong with that. My dad died at the age of 60. His mom, my grandmother, died at the age of 59. One grandfather (mom's dad) died at age 37 and my other grandfather (dad's dad) died at age 57. All were due to cancer or heart attack. To my knowledge, I am healthy but longevity certainly does not run on either side of my family. For this reason, I choose to enjoy doing things that I want to do as I may not have the opportunity later. My father-in-law died of cancer and my mother-in-law of Alzheimer's. Both of them in their 60's. I am 44 and DH is 50. My outlook on life is probably different than most. We own a successful yet small business in a small town and we do have a financial plan which does include being debt free before retirement (when DH is age 65)... if we live that long.
My point to this post is that I see no reason to wait till tomorrow to do something that can be done today if it is within your means to do so. If my payments stretched me to the point that I was worried about being able to pay my other bills or where my next meal was coming from, I may feel differently but thankfully, I do not have any of those worries.
To the OP, don't feel bad about financing...enjoy your camping. If you are able, I would suggest looking for cheaper interest on a refinance but only because that would save you money. Do what makes sense to you...it is your money that you are spending.
I'm with you. Last year my father and mother in law died within 6 weeks of each other. Life is too short and right now we are going to live and make lasting memories with our children because tomorrow is not promised.
Yeah, we have debt but I can pay it and I live below my means. I have a loan on my trailer with a 4% interest rate. I could have paid it cash, but would have meant less money in other investments. Last year alone my 401K earned 23% for the year.
I also use my credit card for every purchase conceivable. If I could pay my mortgage by credit card I would. I have saved my miles for over a year and a half for a total over $2100 and my family of four will be flying to Jamaica for about $200 this summer. To the OP if you have a credit card who offers miles you could also do this method and you can cash in your miles and use the money for a principle payment. The catch is you HAVE to pay it off at the end of the month and not accrue any interest.
Have fun enjoy your trailer and your family.
