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Old 09-14-2014, 01:48 PM   #15
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That's me.. I sleep tight. Never ever look at the market like did for the 40 years I was working..
I am now 100% invested in the "sock" market.. (My kids love that one)

You're missing out on .001% cd 's
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Old 09-14-2014, 02:08 PM   #16
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Bruce & Judy,

You should go back to dealer in AZ and get AZ taxes back as you paid twice for that coach.

I purchased my RV in Georgia but live in NC and only paid NC taxes not Georgia. It is illegal what he did and AZ owes you that money back. Persue it.

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Old 09-14-2014, 02:14 PM   #17
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You're missing out on .001% cd 's

Oh not so, I'm killin it at .0015%
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Old 09-14-2014, 02:42 PM   #18
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Question about FINANCING

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Originally Posted by Dr4Film View Post
This has been debated many times on this site. There are benefits to paying cash and other benefits to financing.



For me it makes no sense to remove $110,000 from my tax deferred IRA, then pay tax on what I take out to pay off a loan at 4.5% interest when that same money is earning 10% - 20% while sitting in my IRA.



And then I lose the ability to write some of the interest off on my Federal Income Taxes.



I don't think so!



Dr4Film ----- Richard



Glad that's working for you now. I respectfully completely disagree with assumptions that 1. The money would be withdrawn from a tax deffered IRA (I would never recommend that), 2. That you're going to make 10-20% over the long run - you're not- unless your last name is Madoff ! Lol, 3. Borrowing money in order to get a 'write off' is a huge mistake. If you're paying an effective 20% tax rate after deductions then you're still paying 80 cents on the dollar of the interest portion of your payment (depending on how it is amortized that can be extremely front loaded as in a mortgage, making your effective interest rate incredibly high).

To each his own, but paying cash -especially for depreciating asstets- makes sense to me. Of course I paid off my S&B years ago also (that brings up the myth of interest rates and ammortization schedules for mortgages, but too much to discuss here).

That's what works works for me after 30 years of investing, UnderGrad in Business, an MBA and Financial Planning study.

This is not, nor intended to be financial advice, only what works for me. seek your own financial advice from a Certified Financial Planner (CFP)(r). Everyone's situation is unique and requires advice for your particular situation.

Good Luck and Cheers!


Signed,

debt FREE
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Old 09-14-2014, 02:52 PM   #19
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Essex Credit ( a middle man, but a good one )

or

Bank Of The West Directly.
Times 2... Just refied thru Essex Credit at 4.0. They were great to deal with.
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Old 09-14-2014, 02:55 PM   #20
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Tom, when we arrived at the DMV in Colorado, we had all of the paperwork from the dealership in Arizona. The DMV supervisor got involved, and after several hours going back and forth with them and the folks in Arizona, it was confirmed that the dealership had collected the appropriate Arizona fees, but no taxes were due in Arizona, so even though they said they would pay for all of the "applicable" fees and taxes, very little of that was for the Colorado part. The dealership did collect some fees for Colorado, and that was eventually refunded to us, but we had to pay those up front to Colorado. We had no idea we would be expected to pay sales tax in Colorado, but it was explained to us that you pay tax to the state the vehicle is registered in. The DMV lady helping us was routing for us all the way, that is why she was so upset when everybody realized how much it was going to cost us. We should have known about the taxes, but still feel strongly that the dealer should have explained it better, and BEFORE we transferred all of our crap from our trade into the new coach. Just felt as if they blindsided us. Live and learn, eh?

Thank you very much for the heads up! Where the heck were you when we were at the dealer?? LOL! Bruce
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Old 09-14-2014, 03:42 PM   #21
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Essex Credit ( a middle man, but a good one )

or

Bank Of The West Directly.
Those are two that can't write in Alabama, as are the Good Sam people. Why, I don't know. Local CU gave us 5.75% and that's the best rate we could find. Heck, our bank that we've done business with for 25 years couldn't go below 10% on motor homes. ...and, yes, both credit scores are well over 800, so that wasn't a factor.
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Old 09-14-2014, 03:49 PM   #22
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If at all possible buy within your means (used is the best buy by far) and pay cash. Don't finance a heavily depreciating asset, IMO.


Have Fun!


Cheers and good luck!
Even at 5.75%, I make more than that by investing. My goal would be to get a better rate and longer term on the loan. I could then upgrade our coach for the same money (payment). Makes sense to me, if I can do it.
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Old 09-14-2014, 04:10 PM   #23
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Dealer in Nevada got me 4% last year. Bank of the West. My banks and credit union couldn't come close. Ours will be paid off in a month or so probably should have just paid cash.

Even ATT stock pays 6%. Doesn't make any sense to pay cash.
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Old 09-14-2014, 04:40 PM   #24
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Originally Posted by alpha99 View Post
Glad that's working for you now. I respectfully completely disagree with assumptions that 1. The money would be withdrawn from a tax deffered IRA (I would never recommend that), 2. That you're going to make 10-20% over the long run - you're not- unless your last name is Madoff ! Lol, 3. Borrowing money in order to get a 'write off' is a huge mistake. If you're paying an effective 20% tax rate after deductions then you're still paying 80 cents on the dollar of the interest portion of your payment (depending on how it is amortized that can be extremely front loaded as in a mortgage, making your effective interest rate incredibly high).

To each his own, but paying cash -especially for depreciating asstets- makes sense to me. Of course I paid off my S&B years ago also (that brings up the myth of interest rates and ammortization schedules for mortgages, but too much to discuss here).

That's what works works for me after 30 years of investing, UnderGrad in Business, an MBA and Financial Planning study.

This is not, nor intended to be financial advice, only what works for me. seek your own financial advice from a Certified Financial Planner (CFP)(r). Everyone's situation is unique and requires advice for your particular situation.

Good Luck and Cheers!


Signed,

debt FREE
Totally agree!!
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Old 09-14-2014, 06:25 PM   #25
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Our threads crack me up sometime. We start on financing and then the thread gets hijacked by the no debt guys (good for you by the way).

Hey if you can pay cash that's great but its not that way for everyone. As for financing a used motorhome I see nothing wrong with that. A low interest tax deductible debt is not a bad deal and we generally buy used to avoid the dramatic decline in value once it driven off the lot.
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Old 09-14-2014, 07:20 PM   #26
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Just financed recently with Alliant Credit Union. Rate was 4.5% and the easiest loan I ever did. They had a check in my hand in in 72 Hours. I handled the title work for them later . I posted the contact info in the thread titled "who has a great deal for today". It's a sticky at the top.
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Old 09-15-2014, 05:17 PM   #27
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Our threads crack me up sometime. We start on financing and then the thread gets hijacked by the no debt guys (good for you by the way).
.
....maybe because post #2 pretty much summed up a response to the OP

I contacted several financing types in TX and one just called back...and said, "no problem", financing a coach bought in TX by a resident of AL. All is good, and his preliminary rate program was 4.5 @ 15 years, FWIW.
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Old 09-15-2014, 05:59 PM   #28
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BB&T Bank gave us 4.5%. Give them a call and see if they can help. We have not had any complaints with their service.
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