Community Forums

jchilbert · 02-27-2011, 08:09 AM

As a fulltimer, my coach is not a toy, nor are we ever on "vacation". Home IS paid for. Have no other bills either other than cell phone and internet access.

VietVet · 02-27-2011, 05:12 PM

None of your business. I don't know I would have to ask Edward Jones.

Gary - K7GLD · 02-27-2011, 05:31 PM

Quote:

Originally Posted by VietVet

None of your business. I don't know I would have to ask Edward Jones.

Seems that those choosing to be offended by the question, simply wouldn't reply...

We own ours free and clear - and the question doesn't offend us in any way...

JManatee · 02-27-2011, 05:56 PM

I Don't like paying interest or being in debt.... All vehicles are paid for, All CCs are paid off each month, Only payment I have is House. And I put 50% down on that so I could pay it off as early as possible.

If you don't have a payment on a car, You should still be making payments to your self (open a special savings account if you have to) so that when you are ready for a new car you can go pay cash.

Dixieray53 · 02-27-2011, 06:15 PM

I am going to add a different twist to this thread. And hopefully it won't be pulled...LOl...I found this site by accident. Have found it fun. As long as you as a newbie don't rock the boat..That all said. At the Charlotte Rv show this weekend they were sellin' small TT's like crazy. Selling to families with young children. Every dealer had sold signs up. If I was a newbie to RV'ing and stumbled on this thread, I might think dang...I'm out of my league...Well the newbie in this economy is going to be making payments...And we should be greatful that there are like minded people who want to join us...Financed or paid for we on this forum are all very blessed....D

Chuck 1935 · 02-27-2011, 06:17 PM

Motorhome financed @6.7% + Writeoff on interest.
Capitol invested @8% = Net gain

denochs · 02-27-2011, 06:19 PM

Quote:

Originally Posted by Gary - K7GLD

Seems that those choosing to be offended by the question, simply wouldn't reply...

We own ours free and clear - and the question doesn't offend us in any way...

No one should get offended. In fact, it may be by choice to have a payment as another deduction for their second home. We chose to pay ours off to make the MH our plan B in case this economy keeps going south. So, we bought a lot (down south) in a 55+ rv retirement community to live on. Only problem is we have to pay $800 yr for assn dues & $550 yr taxes.

Dave

bullheaded · 02-27-2011, 06:35 PM

Quote:

Originally Posted by Gary - K7GLD

Seems that those choosing to be offended by the question, simply wouldn't reply...

We own ours free and clear - and the question doesn't offend us in any way...

I think the real problem is Edward Jones.....they cost me a few $$$$$$$$$$$$

Gary RVRoamer · 02-27-2011, 06:55 PM

We own our house free & clear, but not the coach. If things go bad for one reason or another, we can lose the coach and still have a place to live.

hooverbill · 02-27-2011, 06:58 PM

Quote:

Originally Posted by stepside454

there seems to be some hypocrocy from some I've heard who say if I can't pay cash, than I don't need it. Did you pay cash for your house ? Did you rent until u could save up to pay cash ?

RTFP...we were talking about "toys."

bucks2 · 02-27-2011, 08:31 PM

Houses get financed and paid off as quickly as possible. Toys get paid for in cash, at least in my house. S class Mercedes, then 40' boat, then 43' motorhome were all bought for cash. House was paid off in 8 years. I worked 2 jobs, the wife worked one. All done in 20 years of 2nd marriage after losing most everything in first divorce.

This doesn't work for everyone, but we had a plan and were able to make it work. I retired at 53, the wife at 55. We didn't spend much time at fancy dinners, bars, or honkytonks. Now we are enjoying the years of hard work and don't feel guilty.

rivrduk · 02-28-2011, 12:27 AM

Dont owe anyone a D--- thing! Thankful for that. Cars, House and the MH all paid for. Now will see what breaks on MH.

Stogie · 02-28-2011, 03:24 PM

Took home equity loan and used that to pay off the Motorhome.
Better interest rate and can write off Interest on home loan.

10 year note that will be paid off 2 years before I retire.

refncpa · 02-28-2011, 10:27 PM

Interest is deductible on MH. Why risk having stick house with debt and rolling home without and living in rolling house. Don't use stick home as a piggy bank to finance toys. That is one reason so many people are losing their homes. Debt exceeds FMV and they walk. When the loan was taken out, promise to pay, not promise to pay only if house goes up in valued