Rv loan rates!
Anyone looked at RV loan rates lately! For 800+ credit scores 8% or more! Even through local credit union. Who is buying these over priced RVs with these rates?
Forum Discussion
nickthehunter wrote:valhalla360 wrote:Even when the market goes down, I still have the money to pay it off; and still get to keep the difference on what I already made.
Operating on leverage works great until it doesn't...then it multiplies the losses. The ones talking about being savey, always gloss over this part and it would never happen to them...until it does.
The trick is to get ahead of the game. Once you have no loan payments, it's easy to save up for big ticket items.
I have a 15 year RV loan at just over 4% that I've had for about 8 years. I'm way ahead of the game at this time. Today, I can pay it off any day I want, and still keep a pretty nice sum of money.
What it boils down to is: What works for you, doesn't necessarily work for everyone else. There is not only one right answer.
Ummm...if you have the cash on hand to just pay it off, you are foregoing the roi on that cash to protect you from being leveraged.
