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Finhawk 02-05-2012 08:41 PM

Payments
 
Just wondering. How many have payments in excess of $1500? Is it worth it? I'm considering upgrading and really have no idea of what the payments might be.

450Donn 02-05-2012 08:48 PM

FOR WHAT?
1500 dollars is way more than my house payments. A person would have to be nearly crazy to spend that much a month on a depreciating asset. Heck for 18K a year you can stay in some pretty nice 4 star hotels for weeks at a time.

Mr_D 02-05-2012 08:58 PM

Nope, not us, but we can easily do it if we wanted.

Finhawk 02-05-2012 09:00 PM

Quote:

Originally Posted by 450Donn (Post 1076123)
FOR WHAT?
1500 dollars is way more than my house payments. A person would have to be nearly crazy to spend that much a month on a depreciating asset. Heck for 18K a year you can stay in some pretty nice 4 star hotels for weeks at a time.

That's not the kind of comment I was looking for!

bsirby 02-05-2012 09:11 PM

I do not have a payment on my MH. We couldn't afford to retire with a payment of $1500, let alone travel anywhere. We tried to pay down all our debt before we retired and started fulltiming, so we wouldn't have to worry. To me even if I could afford it, it would not be worth it to me. Hope that helps.

chaunclm 02-05-2012 09:22 PM

There are some reasons why one might spend money on payments. Tax planning would be one where one's money was in an IRA and one didn't want to face a significant tax liability from a large withdrawal in a single year or where one had a large pension or where one had a structured settlement that paid a large sum annually.

If one's income is large enough to support the payment why not.

We don't have any payments now. But next year we will have to start withdrawing money from our IRAs and that will change our tax situation enough that we might consider payments again.

As to spending time in nice hotels. I prefer to sleep with my own bugs. The EPA has restricted access to so many insecticides that today many hotels and motels have bed bugs. UGH, UGH. No I would not stay in any public facility today unless it was really necessary.

SarahW 02-05-2012 09:50 PM

Quote:

Originally Posted by chaunclm (Post 1076157)
If one's income is large enough to support the payment why not.

I agree with this; however we didn't finance our motorhome, either. $1500 sounds like a large payment...but I guess if it's a relatively short-term loan that would make sense. It all depends on an individual/couple's comfort level and personal financial situation.

sc3283 02-05-2012 10:04 PM

No payments here, bought what I could afford with a cash 1 time payment for full amount.

Frantz 02-05-2012 10:49 PM

It certainly depends on each individual's financial plans for their future. If you have the ability to live the life you want & afford the payments that get you the level of comfort you seek then, yes, it might be the correct decision for you. Your tax, investment, income, & estate situation is known only by you & your accountant. Others might only be secure with guaranteed no debt and a cash only life style. I'm not sure any of us can answer for any other person's situation.

After all, you can't take it with you. :nonono::nonono: ;)

That said, there always needs to be a brutal examination of our wants vs needs. It sometimes comes as a shock what price we really :eek: pay for our desires.

As an aside, financing/refinancing can be a REAL issue if you are full-time w/o a S&B address...speaking from our experience this past week. :banghead:

Arch Hoagland 02-06-2012 12:29 AM

Why don't you do it the new American way?

Buy it, then discover you are upside down, so quit paying for it and use it for free until they catch you and throw you out.

Seems to work just fine for houses. Why not for motorhomes? Or cars?

What in the heck is going on?

dons2346 02-06-2012 08:45 AM

Quote:

Originally Posted by Arch Hoagland (Post 1076239)
Why don't you do it the new American way?

Buy it, then discover you are upside down, so quit paying for it and use it for free until they catch you and throw you out...............

Guess I'm a little slow, I never thought of that. I'm off to the dealer for a new coach :laugh:

Steve N Sal 02-06-2012 08:55 AM

I guess if ones income can support that they can do whatever they want. I know mine cannot. Glad we were able to purchase ours before I retired and were able to pay for it in full. I don't miss not having to make any monthly payments as well.

Cat320 02-06-2012 09:10 AM

You can Bing "payment schedule" and get a form that you can fill out, with various options (interest rate, amt down, length of payment, total owed, etc) and it will compute your monthly payment.

My personal policy is that I don't make payments for toys...it's either cash or I don't get it.

Finhawk 02-06-2012 09:50 AM

Quote:

Originally Posted by Arch Hoagland (Post 1076239)
Why don't you do it the new American way?

Buy it, then discover you are upside down, so quit paying for it and use it for free until they catch you and throw you out.

Seems to work just fine for houses. Why not for motorhomes? Or cars?

What in the heck is going on?

Because I'm from the "Old School" of accepting responsibility for what I do. My rig has been paid for for 3 years and like I said, I'm thinking of an upgrade and asking for opinions on that. Nothing else!!!!!!


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