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Old 05-11-2019, 02:34 PM   #1
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Default Financing The New RV

We have found the perfect RV now need to finance it. It is new from a dealer but they only have auto type financing and I need a longer term. What companies have you folks had good and bad experiences with?
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Old 05-11-2019, 03:43 PM   #2
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We have found the perfect RV now need to finance it. It is new from a dealer but they only have auto type financing and I need a longer term. What companies have you folks had good and bad experiences with?
Did you loose track of your earlier thread?

http://www.classbforum.com/forums/f5...w-rv-9157.html
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Old 05-16-2019, 04:54 PM   #3
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Check your options involving home equity line of credit. Also be aware that some lenders can call your loan if you rent the unit out.
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Old 05-16-2019, 05:19 PM   #4
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Default Credit unions

Credit unions will give you a better rate especially if you sign up for a bank account with them.
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Old 05-18-2019, 11:17 AM   #5
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If you're a veteran go to USAA.
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Old 05-18-2019, 03:33 PM   #6
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Don’t finance it! RV’S depreciate like crazy. Save up and pay cash or buy used. It’ll make those drives down the road so much sweeter!
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Old Yesterday, 02:31 PM   #7
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Default Buy it When You Need It

Waiting for something until you save up for it is certainly cheapest financially. But you give up the use of it while you wait. You will never recover the value you have lost. You won't get that time back, its gone forever.

So yes, RV's and other similar purchases ARE investments. You will recover the cost as you get use out of it over time, not when you sell it.
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Old Yesterday, 03:48 PM   #8
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Waiting for something until you save up for it is certainly cheapest financially. But you give up the use of it while you wait. You will never recover the value you have lost. You won't get that time back, its gone forever.

So yes, RV's and other similar purchases ARE investments. You will recover the cost as you get use out of it over time, not when you sell it.
The flaw in this argument is the hidden assumption that the "while you wait" time is wasted. If your only goal in life is owning an expensive B-van, and you plan to twiddle your thumbs while you wait, then fine. But there are plenty of other wonderful ways to spend your time while you wait and save. Camp in a tent, get a little Scotty trailer, splurge once in awhile and spend a few nights in Old Faithful Lodge rather than the campground (which you are unlikely to do once you own an expensive van). Those times will be cherished, not "gone forever". Use the long-term goal as a motivation, and the money will accumulate soon enough.

I've always believed that there are two kinds of people: cash people and credit people. The differences are (a) it takes cash people a few extra years to get to any given level of consumption; and (b) it costs 20% more to be a credit person (and so in the long run, you will be able to afford 20% less stuff). I would NEVER purchase a luxury item for which I couldn't pay cash.

Calling a vehicle purchase an "investment" by any meaningful sense of that term is delusional.
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Old Yesterday, 03:59 PM   #9
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The flaw in this argument is the hidden assumption that the "while you wait" time is wasted. If your only goal in life is owning an expensive B-van, and you plan to twiddle your thumbs while you wait, then fine. But there are plenty of other wonderful ways to spend your time while you wait and save. Camp in a tent, get a little Scotty trailer, splurge once in awhile and spend a few nights in Old Faithful Lodge rather than the campground (which you are unlikely to do once you own an expensive van). Those times will be cherished, not "gone forever". Use the long-term goal as a motivation, and the money will accumulate soon enough.

I've always believed that there are two kinds of people: cash people and credit people. The differences are (a) it takes cash people a few extra years to get to any given level of consumption; and (b) it costs 20% more to be a credit person (and so in the long run, you will be able to afford 20% less stuff). I would NEVER purchase a luxury item for which I couldn't pay cash.

Calling a vehicle purchase an "investment" by any meaningful sense of that term is delusional.

Yep, us too. I have never driven a car that I couldn't pay cash for, so I drove old and/or small and still do, as I have better things to do with that money. Were totally going to buy a used van as a first van to reduce risk of not liking the whole class b thing and to prevent depleting "fun" stashed money. As it turned out while we were looking and researching the recession hit and we got a new, on the lot a long time, unit for barely more than a used one. Depreciation risk was very much reduced at that price. It was a bit earlier than we had planned on buying, but it all worked even better that way as it gave us more time to figure out how it all worked.
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Old Yesterday, 04:16 PM   #10
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Yep, us too. I have never driven a car that I couldn't pay cash for, so I drove old and/or small and still do, as I have better things to do with that money. Were totally going to buy a used van as a first van to reduce risk of not liking the whole class b thing and to prevent depleting "fun" stashed money. As it turned out while we were looking and researching the recession hit and we got a new, on the lot a long time, unit for barely more than a used one. Depreciation risk was very much reduced at that price. It was a bit earlier than we had planned on buying, but it all worked even better that way as it gave us more time to figure out how it all worked.
IMO, this is becoming silly.

Unless someone knows the op's financial circumstances, there can be no opinion about financing.

Yes, and it ok, to discuss financing rv's, boats, houses,...............

I've had 3 loans in my life, all made financial sense. About 45 years ago one minimum payment with a credit card, one house 39 years ago, one vehicle 6 years ago (not rv). If I buy a new Crossfit, I'll be looking for the lowest cost loan just like the op here. Why? Cash WILL cost more given my financial circumstances even though I can come up with the cash, that cast will cost more.

There are a variety of financial circumstances where financing makes sense. Many, most do not make financial sense, some do.
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