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SR-71 · 12-06-2018, 03:52 PM

This question seems odd to me. Why anyone's RV finances have a bearing on anyone else's RV financial decisions?

Russ Silber · 12-06-2018, 04:10 PM

Bought first 2 on loans. Rented them out through
Private motor home .com. Never made a single rv payment. Turned an 8000 dollar profit each year. Sold off those rvs and paid cash for a used 1999 Dutchstar. Wife says no more renting. Had to turn folks away when we used the first 2. First 2 were Bounders.[emoji41]

Checkride · 12-06-2018, 04:13 PM

Retired and paid cash

esox07 · 12-06-2018, 04:17 PM

Paid cash. If it is a recreational camper, I cannot justify taking out a loan. If it is full time camper, then maybe. But we got a good deal on a small travel trailer that we could afford. Still, a big investment for our financial situation, but we paid cash and have enjoyed it immensely and don't have to fret about payments every month.

GNRVNG · 12-06-2018, 04:25 PM

Quote:

Originally Posted by Mr_D

Could have paid cash but I make more on the money where it is than the loan costs.

[emoji106]

Mickinuk · 12-06-2018, 04:39 PM

We planned to pay cash but ended up paying half cash and half loan. Placed the money I didn't spend in a high yield ETF which is paying back the loan. Once the loan is paid off I'll have the original money back + interest. Because I'm full time I claim the loan as a 1st mortgage and therefore its the same as not paying tax on the ETF funds.

bobwilcox · 12-06-2018, 04:43 PM

I paid cash, as well. I settled for an older unit, in good condition, planning to update and upgrade it.

"For a toy or leisure item that depreciates, always pay cash"

walt_embree · 12-06-2018, 04:50 PM

As my brother's father-in-law once said... "Spend it now, spend it all, and the last check written to the undertaker bounces!" It's an age-old adage that still applies, with a slight modification: If you wants to play [now], you gots to pay [later].

BirdsGo2 · 12-06-2018, 04:52 PM

Quote:

Originally Posted by Dav L

Curious on how people buy their toys. Haven't seen this discussion specifically.

What's the current financial status of your RV?
Did you pay Cash, have a Lease, A Loan from a Bank? or had a loan but it is now paid off?

Thought a poll would be best for anonymity.

We wanted to see if we could qualify for a loan since we're retired and living on Social Security, so we financed. First payment was for the full amount because we didn't want debt. Yeah, it cost us a bit more, but we learned that we could still get new credit.

Akdare · 12-06-2018, 04:54 PM

I’m a Financial Advisor and Certified Financial Planner... financed mine. 3% interest rate. I can (and do) make way more on my investments. I am able to deduct the interest on my taxes (we’ll see for 2018 taxes). I could have paid cash, but didn’t for the above reasons.

rcnuts · 12-06-2018, 05:07 PM

Quote:

Originally Posted by Skiddy

cash another reason I have an older coach. I want to and stay debt free now and after retirement.

Our "mantra" also. 93 HR Imperial. Seemed like a great deal at first with low cost to buy but after a new motor and a lot more not such a great deal. Still, we own it. More $$$$ for those weekend trips and 1 or 2 vacations a year. (hopefully)
Harris

tbillet · 12-06-2018, 05:10 PM

Quote:

Originally Posted by GoneToTheDog

That was our scenario also. Half down, financed the balance. Funds are available to pay it off at any time. Making more money than the loan costs. Debt free in other assets.

X2...
paid off house, decided to funnel a portion of that monthly obligation to MH memories!

SkipH · 12-06-2018, 05:13 PM

Age 68.... paid cash

Winemaker2 · 12-06-2018, 05:20 PM

Quote:

Originally Posted by Akdare

I’m a Financial Advisor and Certified Financial Planner... financed mine. 3% interest rate. I can (and do) make way more on my investments. I am able to deduct the interest on my taxes (we’ll see for 2018 taxes). I could have paid cash, but didn’t for the above reasons.

Great analysis for those with the discipline.
I just wonder how many use the same rationale over and over with the same incestments.
If you truly can pay cash and have an adequate retirement savings, and an adequate emergency fund then it can make sense.
I would content that many / most folks that use this rationalization don't have all their ducks lined up sufficient to pay cash w/o affecting their retirement, emergency or other balances.