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  • greg
    replied
    On my Landmark I financed 10 yrs at 2% borrowed against savings in CU. I keep all the money in my acct. and draw interest on it. So essentially I paid cash and am paying myself back while thinking I probably will not keep it that long and maybe
    will return some equity back when we sell it on.

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  • jwstewar
    replied
    Originally posted by JEBar View Post
    my in-house accountant has never urged me to spend more money ...
    I've not had that issue either. Way more things on the want list than money in the account to pay for it.

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  • JEBar
    replied
    my in-house accountant has never urged me to spend more money ...

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  • Bkins
    replied
    Nice to find yourself in that position after working many years.

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  • jwstewar
    replied
    My cousin just bought a large tri-axle toy hauler. Don't know what he paid for it, but I know he drove several hours to get it as the first dealership he went that had the one he wanted it was all beat up and several problems with it - it was new. So he called the next closest dealer that had it and he said he would be there "in the morning" so they continued driving and stayed in a hotel. Got there and finally made the deal. They started talking paperwork and they started talking a 30 year loan. He went off on them saying there was no way in he!! was he financing the trailer that long (he will turn 58 next month). So they asked him how long he wanted to finance. He told them 3 years. Now his accountant is telling him he needs to spend more money. So he is looking at a new F-450 to match the new toy hauler.

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  • wingnut60
    replied
    Thanks, been some quick, strong thunderstorms going thru, but not too bad. Should be an ok trip west. Sorry to just keep missing you and Maureen. Safe travels to you both.

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  • JEBar
    replied
    Originally posted by wingnut60 View Post
    Jim, heading for Seattle and Portland to visit kids/gkids/ggkids, then back to Colorado for 2 months camphosting at Ridgway SP.
    understood .... was in hope that you might be headed east .... do hope the rally goes well and that you have a boring drive west

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  • wingnut60
    replied
    Jim, heading for Seattle and Portland to visit kids/gkids/ggkids, then back to Colorado for 2 months camphosting at Ridgway SP.

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  • 2007dura
    replied
    A different perspective on the 20 year loan. I got mine for 2.99% for 20 years. Took my money and put it in a guaranteed 7% investment. For the first 5 years I was able to deduct the interest from taxes too. So my money is making more for me than if I had paid for the camper.

    As far as buying a rig when you are older. I saw where a gentleman 80 years old bought a $350K diesel pusher with minimum down. He also bought the life insurance to pay it off if he died. He did die a few months later and his wife got a diesel pusher paid for that she sold for in the mid $200's and had a nice nest egg.

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  • JEBar
    replied
    understood on the rain .... Spearfish is a nice area .... how long will you be there and where do you head when the rally is over

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  • wingnut60
    replied
    Thinking his estate would pay for it???

    Jim,
    We are in Spearfish for a DRV regional rally, been up this way for about 2 weeks. Sure is nice and green, but a lot of small storms daily.

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  • avvidclif
    replied
    On another group a 78 yr old man bought a diesel pusher in the 250k range and financed it for 20 years. Minimum down. What was he thinking?

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  • wiredgeorge
    replied
    I would like to see 30 year financing. At my age I bet the grim reaper would would win and CW would lose. I recall my Mom (passed away years ago) bought a hose with a 30 year mortgage and mortgage insurance while she was in her early 80s. Go figger...

    Leave a comment:


  • JEBar
    replied
    Originally posted by Bkins View Post
    Does anybody know what the average length of time people keep their RV’s before getting something different?
    I remember seeing industry data about it but don't remember any specific numbers .... I do recall seeing that back when finance terms maxed out at 10 - 12 years, something over half were sold or traded before they were paid for

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  • Bkins
    replied
    Our trailer is going on 16 years. I would be besides myself if I still had 4 years of payments remaining. I guess people want things they can’t afford so badly that they just look the other direction when it comes time to pay for them. I haven’t done the math for what that rig will end up costing after paying for 20 years at just short of 6%. It’s gotten to be the same way with car payments as most are running 7 years in length. I feel that people’s want, not need, is somewhat responsible for the dramatic rise in car, SUV, and truck pricing. It gotten to the point of almost being obscene what it costs to buy a new well equipped vehicle these days with pick ups leading the profit centers for car companies. I don’t know, maybe it’s just me.

    Does anybody know what the average length of time people keep their RV’s before getting something different?

    Leave a comment:

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