Mar-24-2014 07:19 AM
Mar-25-2014 07:57 AM
Mar-25-2014 07:43 AM
Mar-25-2014 07:33 AM
Mar-25-2014 07:01 AM
M GO BLUE wrote:
Take your payment and divide it by 12...then add this amount to your payment every month
Mar-25-2014 06:50 AM
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.
Mar-25-2014 06:10 AM
Mar-25-2014 03:53 AM
Mar-25-2014 03:21 AM
beemerphile1 wrote:zackyboy3rs wrote:
Bottom line is this, if you have small kids NOW is the time to have a camper to enjoy it with them. To me this is more important than $ as long as you can cover the basics of living. I am not perfect and probably can do better with our finances but I have maybe 4 years til all kids are out of the house and I want to enjoy it....
I agree, sort of. Making memories with family is a fantastic use of an RV. However, great memories can be made in a $1,000 RV just as well as a $40,000 RV.
Lots of seasonal campgrounds have cheap RVs sitting there for sale and ready to use. The OP could take the hit now, get out from under a 15 year sentence and buy a cheap unit. All RV debt could be paid within one year and finances could then be used on other debt. It wouldn't change the camping experience at all for the family.
Mar-24-2014 08:35 PM
ddschuman wrote:
I am going to chime in here one last time. What works for one or makes sense to one does not always work or make sense to another. I, myself, paid cash for a TT but wanted a FW with higher ceiling and more space for comfort. I can afford my payments and will pay it off in less than 1/2 the time I have it financed. It makes sense to me because I have a unit that is comfortable and I enjoy my time using it. I camp because I love to go places but prefer my own accommodations over a hotel. Plus, I can take my two little dogs with me without worry...they travel well by the way and go everywhere with us. Our children are grown. I could have waited a few years and paid cash and according to some on here, that would be the proper thing to do but you know what? I enjoy it now and am making memories now. There is nothing wrong with that. My dad died at the age of 60. His mom, my grandmother, died at the age of 59. One grandfather (mom's dad) died at age 37 and my other grandfather (dad's dad) died at age 57. All were due to cancer or heart attack. To my knowledge, I am healthy but longevity certainly does not run on either side of my family. For this reason, I choose to enjoy doing things that I want to do as I may not have the opportunity later. My father-in-law died of cancer and my mother-in-law of Alzheimer's. Both of them in their 60's. I am 44 and DH is 50. My outlook on life is probably different than most. We own a successful yet small business in a small town and we do have a financial plan which does include being debt free before retirement (when DH is age 65)... if we live that long.
My point to this post is that I see no reason to wait till tomorrow to do something that can be done today if it is within your means to do so. If my payments stretched me to the point that I was worried about being able to pay my other bills or where my next meal was coming from, I may feel differently but thankfully, I do not have any of those worries.
To the OP, don't feel bad about financing...enjoy your camping. If you are able, I would suggest looking for cheaper interest on a refinance but only because that would save you money. Do what makes sense to you...it is your money that you are spending.
Mar-24-2014 08:22 PM
zackyboy3rs wrote:
Bottom line is this, if you have small kids NOW is the time to have a camper to enjoy it with them. To me this is more important than $ as long as you can cover the basics of living. I am not perfect and probably can do better with our finances but I have maybe 4 years til all kids are out of the house and I want to enjoy it....
Mar-24-2014 07:41 PM
Mar-24-2014 07:26 PM
Gdetrailer wrote:
Folks often just don’t understand, care or want to know where the money goes…
Mar-24-2014 06:46 PM
Mar-24-2014 06:12 PM
NanciL wrote:
I can only say that yes you made a mistake.
He who cannot afford to pay cash should not finance a travel trailer or anything else accept a house or vehicle.
You'll never get out from under
Tent until you can afford to pay cash, and you'll enjoy that trailer much more
Jack L
Mar-24-2014 05:35 PM