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Just my opinion

Locky
Explorer
Explorer
I have noticed quite a few times on this forum when people talk about financing a travel trailer they will get responses saying "save up and pay cash". Well here is my take on it:
I will use my exact scenario. I bought my trailer new in 2006 for $14,000. I financed it for 10 years and when my trailer was all paid for my total amount was $18,651. So it cost me on average an extra $38.65 a month in interest. I think that was money well spent to spend the quality time i have had with my kids and now grandkids. So for the ones on here that always bring up the stupid comment about saving up to pay cash for that......well enjoy sitting at home saving while the rest of us are out enjoying mother nature and making memories with our family.
75 REPLIES 75

TomG2
Explorer
Explorer
So, if one is lucky enough to have had a financially rewarding career, or more likely rich parents or spouse, they can gloat over the fact they pay cash for everything. No catastrophic illnesses, no company closings, no "being in the wrong place at the wrong time" events to slow them down. Aren't rich folks wonderful? They seem to think so. Nobody was smarter or worked harder than the folks back in the Great Depression, but a lot of them went bankrupt anyway,

My philosophy has always been that one can have anything they want, not everything they want. Payments on a RV can be made from a second job if it is really that important to have one.

DutchmenSport
Explorer
Explorer
I did not read every post here this time, so I'm just jumping in. Basically.... does it really matter? Each of us do what we feel is best in our own situations.

Nothing wrong with paying cash if you have it, nothing wrong with buying on time either if that's the way you want to do it. Most folks (it seems) just can't plop down several thousands of dollars all at once, especially when you have young families. When the kids are grown and gone, or if you've never had kids, yea.... you probably have more disposable money than the person who has to spend $100,000 over an 18 year period to raise one kid! It makes a big difference.

Not everyone's income is a 7 figure a year income either! Bottom line is, we each do what works best for us!

Recommending to pay cash is good advise, but it's not always practical.

DallasSteve
Nomad
Nomad
I accept what the original poster wrote, except this last line:

So for the ones on here that always bring up the stupid comment about saving up to pay cash for that......well enjoy sitting at home saving while the rest of us are out enjoying mother nature and making memories with our family.

First, you make the judgment that our comment is "stupid". Well, as I said to my 35-year old son, if you're so much smarter than me why do you need to borrow money from me?

Second, your comment (notice I left out the word "stupid") assumes that this is an either/or proposition. It's not. It's entirely possible to not sit at home and still make great memories with our family without owning an RV.

Third, you apparently will never know how great it is to have financial security. Let me give you an example. Because I deferred a lot of expenditures when I was younger (I'm hoping you know what expenditure means) I now have reached a point where I will probably run out of time before I run out of money. That's a wonderful feeling. When I was looking for my current apartment I decided that I wanted one with an attached garage, something I wouldn't have done in the past to save for my future. This one happened to be brand new to boot. I decided, it's time to enjoy my money. I've been saving all my life for when I get old. There's no point in saving for when I get old any more. I'm 60. I'm there! This is what I have been saving for. It's great to be at a point where whatever I want (within reason) I can get it; with no debt.

Stupid comment? Laughing all the way to a comfortable retirement.

PS: My youngest son likes going to college and graduating with no student loans. Dad just pays cash for his tuition. An in-state school, of course.
2022 JAYCO JAY FLIGHT SLX 8 324BDS
2022 FORD F-250 XL CREW CAB 4X4
All my exes live in Texas, that's why I live in an RV

TomG2
Explorer
Explorer
A friend commented from his deathbed that he did not regret one cent that he spent on vacations and he was a tightwad. My point is that RVing may not be a great financial investment, but it is the best ROI (Return on Investment) any family can get.

Thom02099
Explorer II
Explorer II
downtheroad wrote:
Why is it that many on this forum spend a ton of energy trying to convince everyone else that the the way they did something is the only way and the right way?

Whatever works, works. Lots of different folks with lots of different life situations.

paid cash - went camping and had a good time
saved up for years - went camping and had a good time
financed - went camping and had a good time

What difference does it make...same result.



^^^^^^ THIS ! ^^^^^

Isn't the objective to go camping and have a good time?
How each of us arrives at that is as individual as the folks here.
2007 GMC Sierra SLE 3500HD Dually
2016 Coachmen Catalina Legacy Edition 243RBS
2007 Keystone Outback 25RSS - R.I.P.

MetalGator
Explorer III
Explorer III
My dad was debt free and was extremely tight with his money. We always had nice things but he never purchased new vehicles. Never had cable television and didn't get our first VCR until they had been out for about 10 years. He was going to retire at 52 years old (30 years on the job) and had all sorts of big plans. Found out he had cancer a month after his 49th birthday and died 3 months after his 50th. Never got to do anything with that money he saved and didn't get to partake in any of his "big plans" with his family. My opinion is save as much as you can but also enjoy life. We just ordered a brand new 2018 Class A. I swore I would never purchase a new one but we found a model that is perfect for us. I financed about 70 percent of the motor home. Yes, I could have paid cash but it would have really hurt our savings and I would rather have the liquid money in the bank for a rainy day. I also put in 20 percent of my salary into a 401k so I don't mind taking on the debt (we paid off our mortgage 5 years ago). You have to figure out the happy medium between spending and saving. My 2 cents....
2018 Miramar 35.3 Motorhome
3 fur kids (Monty, ZuZu and Pinto)
Rainbow bridge (Murphy, Petie, Lola)

fj12ryder
Explorer II
Explorer II
There is no "one size fits all" way of dealing with finances. Dave Ramsey, whoever he is, doesn't have the correct answer for everyone, but it sounds like he tries to profit from the impression he does.

I figure as long as someone is fairly sensible then he/she should be able to do as he/she wishes. And also if he/she isn't fairly sensible he/she should be able to do as he/she wishes. As long as they don't expect me to pay their way, they should be free to be wise, or stupid, on their own.
Howard and Peggy

"Don't Panic"

schlep1967
Nomad
Nomad
Financing an RV is fine, if you can afford it. AND if you shopped around enough to know you are going to keep it until it is worth more than you owe on it or it is paid off.
I've seen people finance RV's and the next year decide they want something else. So they trade in and they are "upside down" on the equity. They owe more than the unit is worth. So they roll over the balance onto the next RV loan. A year or two later they do it again.
Seems the same people that do this with RV's also do it with cars.
2021 Chevy Silverado LTZ 3500 Diesel
2022 Montana Legacy 3931FB
Pull-Rite Super Glide 4500

beemerphile1
Explorer
Explorer
Locky wrote:
I have noticed quite a few times on this forum when people talk about financing a travel trailer they will get responses saying "save up and pay cash". Well here is my take on it:
I will use my exact scenario. I bought my trailer new in 2006 for $14,000. I financed it for 10 years and when my trailer was all paid for my total amount was $18,651. So it cost me on average an extra $38.65 a month in interest. I think that was money well spent to spend the quality time i have had with my kids and now grandkids. So for the ones on here that always bring up the stupid comment about saving up to pay cash for that......well enjoy sitting at home saving while the rest of us are out enjoying mother nature and making memories with our family.


When I had less money, I bought less expensive things. For instance; paid cash for a $1,500 RV instead of financing a $15,000 RV. Eventually I paid cash for a $17,000 RV rather than finance. Now, if I desire, I can pay cash for a $150,000 RV.

Borrowing makes you a slave, why do you want to be a slave?

kohai wrote:

...As my grandmother said about interest, those that understand it get to receive it and those that don't understand it get to pay it.


I'm gonna steal that one!
Build a life you don't need a vacation from.

2016 Silverado 3500HD DRW D/A 4x4
2018 Keystone Cougar 26RBS
2006 Weekend Warrior FK1900

fulltimedaniel
Explorer
Explorer
This choice of Cash vs Financing is a false premise to begin with.

Anyone with enough disposable income to pay a multi-hundred dollar monthly payment on a vehicle designed solely for recreation and to use maybe 4 or 5 times per year doesnt really need to worry too much about the cost of financing.

The question is cash flow. Not savings.

Let people alone to do as they wish and get off their backs here about what they "Should" do.

Probably a better approach might be to ASK WHY they decided to do something one way or the other. That would be more enlightening and respectful.

(In terms of full disclosure I paid cash for my Gulfstream Innsbruck 33ft TT. and I financed half of my 2016 Dodge Ram Cummins 2500) But what might be more interesting to find out in a post like this is WHY someone does it one way or the other.)

fulltimedaniel
Explorer
Explorer
gemsworld wrote:
downtheroad wrote:
Why is it that many on this forum spend a ton of energy trying to convince everyone else that the the way they did something is the only way and the right way?

Whatever works, works. Lots of different folks with lots of different life situations.

paid cash - went camping and had a good time
saved up for years - went camping and had a good time
financed - went camping and had a good time

What difference does it make...same result.


Exactly!


X2! There are some well know folks on this site that make it their full time occupation to re-order others lives and criticize any post or statement that doesnt fit into their echo-chamber idea of how things should be.

DiskDoctr
Explorer
Explorer
Spend time with your family while you can, it won't last forever. Give your kids adventures they will repeat with their kids. Let them know they are important to you.

If you wait until you can be all set and financially secure, that day isn't guaranteed. You might never leave home.

For those who make it, good job, you've earned the right to enjoy it.

For others, pay as you go, make the most of your time while you can.

In the end, I just want to know whose turn it is to light the campfire 🙂

BTW, we love to see young families camping. Doesn't matter if they financed or paid cash. They are investing in their family. Surely to bring many happy returns.

Locky
Explorer
Explorer
Some very good points in this thread.

jnharley
Explorer
Explorer
We have done it both ways-finance and pay outright. We are full timers and I have to say being debt free is one of the most freeing things one can do for themselves. It took us a long time to get to that point. I think most people who are raising families have to finance. As long as it is done responsibly, why complain and enjoy camping.
2015 Dodge Dually
2012 NuWa Discover America 355CK

jplante4
Explorer
Explorer
The only problem with comparing a mortgage on a house vs. financing an RV is that, for the most part, the house will appreciate over the term of the loan. It is possible to continue to sell and buy and end up mortgage free. The only way I can see to do that in an RV is to buy a wreck, fix it up and flip it. I don't think you'd be able to get financing for a wreck. Unless you can get HGTV to finance it for a show 🙂
Jerry & Jeanne
1996 Safari Sahara 3530 - 'White Tiger'
CAT 3126/Allison 6 speed/Magnum Chassis
2014 Equinox AWD / Blue Ox