Community Forums

GoodTimes · 05-01-2012, 06:47 AM

I'm doing an informal survey regarding how folks buy their rigs. Knowing that people have had more than one MH/5th/TT, this pertains to your CURRENT rig:

Did you finance or did you buy outright?

If you financed, for how many years?

FRR2EYW · 05-01-2012, 06:51 AM

Financed. I use the second home mortgage interest deduction. If this goes away, I may change my MO. 15 year note, that way I am not quite as much upside down when I get the next one.

sdennislee · 05-01-2012, 10:15 AM

I have a friend who is a broker, he knew what I was looking for. My original intention was to buy one of his units when the right one came along. Well the right one came along but wasn't one of his consigned units. The deal was just to good to pass up. Wired him the money over night before someone else bought it. I might have considered financing if I could have worked it out as a second home and realized a tax benefit that outweighed the interest.

At 53 I don't really wish to have any debt. For us the RV is a toy and I have always been of the opinion that you don't finance toys.

Sky_Boss · 05-01-2012, 10:36 AM

Financed 15 years...didn't get much of a break for 10 years, plan to have it paid off in 3 years. The term gives us options in the first few months to use cash on hand for initial set up, desired upgrades and stocking of the rig.

scenic route · 05-01-2012, 11:13 AM

We operate on SS and a small monthly retirement fund that is reliable, but not cast in stone. Initial outlay and start up costs dictated buying a five year old unit w/low mileage. Good deal, paid cash and we have enough left to enjoy it.

For us, it just didn't make sense to finance a larger debt. Bought a two year old Jeep w/4K miles on it the same way. I love e-bay.

Bob

Moonshine94 · 05-01-2012, 12:52 PM

Quote:

Originally Posted by sdennislee

For us the RV is a toy and I have always been of the opinion that you don't finance toys.

+1

Benny367 · 05-01-2012, 01:44 PM

Quote:

Originally Posted by sdennislee

For us the RV is a toy and I have always been of the opinion that you don't finance toys.

My thought process is just the opposite; I finance all of my toys, why would I want to tie up my money up in a toy? It is not a necessity.

If for some reason I can't pay for it, back to the bank it goes.
Now, if I were a fulltimer then I would pay cash for my MH because it would be my home and I wouldn't want to lose my home.
But toys are a diiferent story!

stepside454 · 05-01-2012, 02:25 PM

We are on our second rv. Paid cash for both

$800.00 for the first one, total investment of $1500.00, now on our second, paid$3000.00, total investment so far $3800.00.

W4MBG · 05-01-2012, 03:38 PM

bought outright. but it was only 1300 bux!

**CLIFFTALL** · 05-01-2012, 03:40 PM

Quote:

Originally Posted by Moonshine94

+1

+ 2

Cat320 · 05-01-2012, 03:57 PM

Quote:

Originally Posted by sdennislee

...I have always been of the opinion that you don't finance toys.

That's what my Dad told me...many, many, many years ago.

Sohapi · 05-01-2012, 04:09 PM

This is another toy for us, but also another home for us. We really like the tax break of that so we financed this for now.

NITEHAWK · 05-01-2012, 04:10 PM

Bought our class A Foretravel Grand Villa 36' DP with 63,000 miles for $6,700 cash and our class C Georgie Boy.

catonine · 05-01-2012, 05:10 PM

I financed for 5 years simply to get the tax deduction. In looking back I most likely should have just bought it outright since money in most savings programs dont pay much dividend.