Travel trailer Trade-in - what to do?

jfkmk wrote:

jrp26789 wrote:

rjxj wrote:

jrp26789 wrote:

Vulcan Rider wrote:

Gdetrailer wrote:

The mere fact that you are willing to whip out a credit card to cover the $8K difference tells me you have much to learn about finances.

I missed that part.
That turns a bad idea into a REALLY REALLY BAD idea.

Does anyone actually read? The OP never said boo about a credit card. Yet several of you have gone down a path of needing to educate him on finance. Pay attention. Someone else replied whip out your credit card. He said 8000 out of pocket. Now unfortunately the OP most likely overpaid for this trailer. I never finance past 5 yrs on anything for this reason. Then you are less likely to end up upside down.

Does this count as boo?
"Sales person asked me how much available cash I could put down a new unit. I asked her if they take credit cards, told due to fees, they only would let me charge $1,000."

I stand corrected. Still doesn't mean the op is seeking financial advice. The self righteousness on this forum is nauseating. I used to use my cabelas card for everything. Free money for hunting Gear is great.

Actually, if you read the original post, he kind of is asking for financial advice. And since he owes 22k on something worth less than 14k, AND he considered throwing another 8k worth of credit card debt to it, he can probably use some financial advice. Not self righteous at all, simply reality.

Like you, I use a credit card for almost all my purchases. I get a little extra protection and I use the points for additional purchases. The only difference is I pay it off each month. If I can't afford it, I don't but it. And I would never finance a "toy" unless I had the reserves to pay it off if something happened. Again, not self righteous I just choose to live within my means.

Sorry to appear "self righteous", that is not where I am or want to be but the reality is the OP would be making a huge mistake by using a credit card to finance another bad mistake..

Two "wrongs" don't make it "right" no matter how you decide to "spin" the idea.

There is nothing wrong with credit or even credit cards provided you are able to "cover" the payments in a timely fashion. I use credit cards to my "advantage" by ONLY buying what I NEED AND WHEN I CAN AFFORD to pay off the balance on the same billing cycle.

I would never dream of putting $8000 on a credit card for a RECREATIONAL ITEM LIKE A RV..

There are better ways to get a loan, heck you can even get better credit "terms" from a off the street loan shark.

The RV dealer did the OP a "favor" by REFUSING to take the credit cards.. That there is ONE HONEST DEALER and they NEED to be commended for taking that stance.. It IS protecting the OP from themselves..