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
CavemanCharlie wrote:
Good post. But,,, I have a question. If you take out a long term loan and then pay it off early don't you still have to pay the full interest that would be on the loan???
Unless the loan specifically states that there is a pre-payment penalty, no you don't still have to pay the full interest. Another option is a home equity line of credit. That is what we used to purchase ours. Technically speaking we have 30 years to pay off our camper, we have under 4% interest AND the interest is tax deductible. That being said, we are still aiming to pay it off within 4 years and are still on pace to pay it off that early.
