Ivylog wrote:
v10superduty wrote:
sherpaxc wrote:
I made the same mistake with a truck. Impulse buy and I was upside down. I ended up selling it, cutting my loses, paying off what I owed and calling it a lesson learned. I then saved up and bought a pop up camper for 5k.
Please don't expect to pay 15 years on that thing. It's not worth it. Everyone makes mistakes, but your's can be fixed. Cut your losses and sell it.
So this guy who obviously wants to go camping has a brand new camper in his yard at a payment he can afford. He is going to pay a whack of interest if he doesn't re-fi lower or make some extra payments BUT he has a camper he can afford..
He is badly upside down and your "advice" is to sell it now at a loss, still owe probably quite a lot, don't get to go camping but keep making payments on something you don't have? :h
Sorry, but I can't agree and doubt he will take this advice..
Sorry, but I can't agree and he needs to take sherpaxc's advice. For you finicial genuis 15 years at 10% equals to paying for it 2 times... OP Taking your monthly payment and X 12 and X 15 and I come up with $40,500. How much did it cost and how much did you put down? Campaign tastes on a beer pocket book. Cut your loses while it's still fairly new, borrow what it takes to pay off the difference, get a 2nd job and buy something you can afford at %4 for seven years so you are only paying 125%, not 200%. The only way to really get ahead is to live below your means which really means paying cash BUT that's too late.
So someone ho has been RVing since 1972 (which would make you a senior like most of us here) is telling someone who is obviously young and didn't understand the situation he got into, to give up his dream of camping, take a immediate financial hit of probably $10,000, pay on that and sit home and wish he was camping..
Hmm..
Don't think that's advice many in his situation would follow.
No disrespect meant here but, good golly, you are a mature business owner.. entirely different financial situation than the OP.
Quit lecturing and let them go camping.
He said he can handle the payments he is committed to, he now understands how to save a lot of the interest costs with extra payments.
He KNOWS what he did was not GOOD but said is prepared to live with it.
We have ALL been there once.
