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Old 08-09-2016, 06:29 AM   #85
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It seems someone got their britches in a bunch over my other post in response to this one and it was removed, so let me try re-wording it without mentioning any politicians...

This is, hands down, the worst advice anyone ever gave.

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If you fiance a play toy (RV, motor cycle etc) you should not buy it.
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Old 08-09-2016, 12:09 PM   #86
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Congradulations Jewlels, and those memories are "Priceless" !

I am also interested in the 3.9 % rate ?
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Old 08-09-2016, 12:58 PM   #87
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Sounds like a plan jewels! Good for you guys, the Bay Star is a very nice coach and will give you years of good family fun. Where did you get the 3.99%? The only place I've seen that rate is USAA.
The better question is, where did she get the "modest" 6%? I want in on that action..

This is the thing for me. I'm not expert enough to figure out where to put my money to make anything over 2 or 3 percent. Sure, i can research and pick the right stock(s) but even with knowledge, it's still a gamble. One thing is certain, i'm definitely out a chunk of change if i finance 20 years. Even if i pay more, maybe even pay the loan off in 5 years, interest has been coming out hard and heavy in those first years and i'm still out several thousand dollars.

Of course i wouldn't want to deplete all my savings. But i'd rather use what i could out of it to pay as much as i could on the rig. Replenishing savings would be fairly easy with a lower or no monthly note.
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Old 08-09-2016, 04:01 PM   #88
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The better question is, where did she get the "modest" 6%? I want in on that action..

This is the thing for me. I'm not expert enough to figure out where to put my money to make anything over 2 or 3 percent. Sure, i can research and pick the right stock(s) but even with knowledge, it's still a gamble. One thing is certain, i'm definitely out a chunk of change if i finance 20 years. Even if i pay more, maybe even pay the loan off in 5 years, interest has been coming out hard and heavy in those first years and i'm still out several thousand dollars.

Of course i wouldn't want to deplete all my savings. But i'd rather use what i could out of it to pay as much as i could on the rig. Replenishing savings would be fairly easy with a lower or no monthly note.
Absolutely right. There are no modest 6 percent investment returns today with out some significant risk
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Old 08-09-2016, 05:12 PM   #89
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Working with Good Sam now. 10 yrs at 3.99. Their service is EXTREMELY slow. The manager treated my DW like crap on the phone. He called us with an attitude and was the biggest jerk we have dealt with in a long time. We got three different answers to the same question and one even suggested something illegal.

If I wasn't so far in the process and had a deadline to meet, I'd go elsewhere. We'll probably be late anyway.
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Old 08-09-2016, 06:06 PM   #90
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Originally Posted by IFlyABus View Post
It seems someone got their britches in a bunch over my other post in response to this one and it was removed, so let me try re-wording it without mentioning any politicians...

This is, hands down, the worst advice anyone ever gave.
I for one liked your quote! Regards
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Old 08-09-2016, 06:09 PM   #91
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Absolutely right. There are no modest 6 percent investment returns today with out some significant risk
When you are only 40 they got time on their side! Over time Mutual funds, stocks and ETF's have all avg. over 6%. Regards
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Old 08-09-2016, 06:13 PM   #92
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I don't know if I updated or not but... we did it. We finally pulled the trigger and bought a 2016 Newmar Baystar...whoop! whoop! We are heading out on (quite) a shakedown trip this weekend including over 3000 miles with our family of 5. Can't wait.

When I posted this I didn't know it would be this interesting of a thread. I thought 20 year loans were very common. Anyway we did secure a 20 year loan @ 3.99% interest. I am thrilled. My husband, the financial advisor, is cautiously optimistic about this decision. We could've paid cash for this- but wanted the $$$ to work for us. He's taking the 98K out of our savings and is going to invest it. With a very modest rate of return 6% let's say. ....We are making 6K/year. Our $595/ monthly payment: after tax savings- writing off the interest of approx $300/ month to the tune of a 45% tax bracket- results in a net payment of about $460...the return on our investment is paying the payment and then some. Meanwhile we have enough money in the bank to pay off this "toy" at any moment. My husband doesn't like debt, but we are relatively young (turned 40 this year) and have many years ahead of us (God willing) to make our money grow, and also to recover if things did go south. 100K seemed like a lot for us to just plunk down all at once.

Different strokes for different folks. One thing we can all hopefully agree on is an RV is a great backdrop for family memories!
Good for you Jewels; when my kids were young I didn't even think they enjoyed our camping trips, now that they have Kids of their own it is all they talk about!
They love RVing and taking their Kids out. Regards
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Old 08-09-2016, 06:22 PM   #93
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When you are only 40 they got time on their side! Over time Mutual funds, stocks and ETF's have all avg. over 6%. Regards
Maybe if they get lucky and the market takes off......since 08' the investments(Market) gives and takes........most are flat-lined
Big investor's are the only ones making any money........when they sell and the market drops......
Over a 30 - 40 year time frame......lets hope so
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Old 08-09-2016, 07:10 PM   #94
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is your home paid for? Get a home equity loan. Mine is 2.79 percent 10 yrs
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Old 08-09-2016, 09:41 PM   #95
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Absolutely right. There are no modest 6 percent investment returns today with out some significant risk
I agree with you. The best return I have is from an investment I made in commercial property 24 years ago. Based on cost, it's returning 16% and no risk or expense as I have a triple net lease with the renter. Based on today's value, it's returning 8%. Still pretty good. A couple other things that are returning 6% with no risk, but they were investments made 35 years ago. I really wouldn't know what to buy now with no risk and at our age, I do not want risk.
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Old 08-09-2016, 10:18 PM   #96
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Hey Jewels,

Not a thing wrong with financing for 20 years anymore than a home for 30! Good credit etc should get you around 4.39 with Essex but I'd be surprised if a dealer couldn't beat that rate. Under 4% would be my guess with 20% down for $100,000.00+ amount. The dealers makes money setting up your financing so its a win-win all around!

........
Very few RVs, TTs, or anything on wheels will be worth 20% of what it cost once its 20 years old.
Most are built like total crap compared to a sticks and brick home.
A Home is a Completely different situation.
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Old 08-09-2016, 11:02 PM   #97
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Sounds like a plan jewels! Good for you guys, the Bay Star is a very nice coach and will give you years of good family fun. Where did you get the 3.99%? The only place I've seen that rate is USAA.
Both La Mesa RV and Holland RV were able to offer us that rate through Bank Of America.
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Old 08-10-2016, 04:51 AM   #98
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Maybe a used MH that can be paid for in cash would be a better way to go Can do a lot of traveling instead of making monthly payments-Rich
pauperspride.blogspot.com
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