follow the bouncing ball
Hello. We owe $18,930.00 or so on a 2016 trailer. It has bunks but we now want a rear kitchen model. The rig we like is a 2017 selling for !8k or so. For kicks and giggles we went to dealer to look at...
Forum Discussion
delwhjr wrote:spoon059 wrote:wing_zealot wrote:
Last RV I bought I financed for 12 years at 4.2%. Over the same 12 years the money that I would have used to pay cash earned just shy of 7.6%. So tell me again how "Someone, anyone financing 5.4% for 12 years is making a bad move". I suggest you might stay away from giving financial advice, your not very good at it.
Well stated and thanks for proving my point in another way.
Technically speaking, putting that much money into a depreciating asset is a bad financial move. Hopefully nobody here considers a recreational vehicle a financial investment. I spent the money on my camper knowing full well that it was a more expensive way to travel and that I would likely never recoup the money I spent. We bought our camper so that our children would have the same adventures that I was fortunate enough to have growing up.
Camping allows me to take my wife and kids and pets to Florida for 2 weeks in the winter, the beach every summer, the lake several times a year, the mountains in the fall, occasional trips to cities like St. Augustine, Charleston, Savannah, NYC, etc. These are all adventures that we wouldn't otherwise take.
The money, while it is a lot for me, is inconsequential compared to the experiences that it allows my family to enjoy. I am very fortunate that I expect to pay my camper off within 4 years. Others aren't so lucky. If I had to chose between paying a lower monthly payment over a longer period of time or foregoing these trips with my family... I would likely chose a 12 year loan too. My family is worth it to me.
X2
My son and his wife are doing the same. The TV is financed and so is the camper. They are teachers and take their 3 children on summer long trips, as well as shorter trips during school breaks. If they had followed some of the "advice" given here, they would not have the great experiences of traveling.
As an aside, my daughter in law is a CPA and teaches accounting and finance in college. She has real credentials.
Off the box now.
