Did you finance your truck camper purchase?

[quickfarms]

My personal opinion is that you should not take on debt for toys.

Credit card debt is also bad in my book.

Debt is for real estate, new vehicle purchases and business equipment.

Every custom build, and vehicle restoration, that I have personal knowledge of that was actually finished was paid for in cash. The builds where the owner was unable to do this often failed and were never completed

 

[billiebob]

This article, last line in the second paragraph....

Record-setting 1968 Challenger 2 Streamliner nets $510,000 at auction - Autoblog

The fastest-ever piston-powered vehicle, the 1968 Challenger 2 Streamliner driven by Danny Thompson in 2018, has sold at Mecum's Kissimmee auction for $510,000.

www.autoblog.com

 

[Regcabguy]

The money I saved for the camper, is going to remodel my kitchen and tile my entire 1st floor.

So, if I pull the trigger, I'll likely have to visit my bank for a loan. Or wait a few more years.

Kitchen's have the best return for the cost.

 

[Regcabguy]

Paid $3500 cash for our 1995 Northstar TS1000 11 years ago. Still going strong.

We paid $10K otd tax and installation included for our 2000 TC800 new in 2000. Some extras included. Awning,surf racks,Fantastic Fan,electric water pump . Northstar deals are tough to find in the west.

 

[DirtWhiskey]

I am going to guess most folks with custom builds mostly don't finance them, or the builder has a relationship with a lender (eg Earth Roamer) or they are using some creative financing like a personal loan, or a loan secured by something other than the custom camper. You could do a cash out refi - but it seems unwise to bundle a toy like a camper with your house.

Either way, I doubt the folks financing these are getting rock bottom rates on the financing. Lenders are in the game to make money, if the transaction is out of the ordinary car/rv/home loan then it takes them more work to set up the loan and has higher risk. They are going to charge you for both in the form of higher interest rates.

Advertised rates for other specialty loans (ie risky) like boat loans, are still at 5 - 6% so it is not like you are beating inflation (which is < 1%). The market is still surprisingly (unreasonably?) high at the moment in the light of a tremendous amount of uncertainty. It seems like a better time to cash out than to take on debt.

By cash out refi I mean this: I buy the thing cash then finance it once I have it. I've done that many times with different pieces of equipment, vehicles etc. Not talking about burdening my real estate assets with toy loans. That's for sure not smart. But I just got quoted 3.5% for an RV loan. And if you think inflation is 1%. Well that's a thing I guess.

I would really like to know if there is anybody who had bought, say, a non-stocked or custom Overland Explorer or Phoenix or Alaskan ever financed the purchase?

 

[Deleted member 9101]

I have a zero debt for hobbies rule.

Same here. Going into debt is bad enough...doing it for something a silly as a hobby is just ridiculous.

 

[Camper808]

The only vehicle I have ever financed was a new one. The interest was like 1% annual basically nothing.

Used car financing is a massive loss.. First off you pay 30% more for dealer price vs private party. Then dealer fees and 10%-25% interest. A person literally pays double by the time they pay it off.

Also I hate dealing with used car dealers ! They hide problems, hustle and scam. It is just the pure nature of the industry.

 

[tacollie]

We have some friends who brought a FWC last fall through Mule. They had cash but the lender Mule uses had such low interest rates they financed it. Finance when it's smart. Don't finance to get something you can't afford.

 

[RAM5500 CAMPERTHING]

We have some friends who brought a FWC last fall through Mule. They had cash but the lender Mule uses had such low interest rates they financed it. Finance when it's smart. Don't finance to get something you can't afford.

THIS!

Yeah, i financed my FWC.

Had cash, but the rates were lower than my cash investments were returning so it didnt make a lick of sense to me to remove cash and lose money.

Everyone's different and everyone financial planning is different...

But yeah, number one rule, never finance something you cant afford to pay cash for (other than a house)...

 

[plh]

THIS!

Yeah, i financed my FWC.

Had cash, but the rates were lower than my cash investments were returning so it didnt make a lick of sense to me to remove cash and lose money.

Did you take into account the depreciation of the FWC?

 

[RAM5500 CAMPERTHING]

Did you take into account the depreciation of the FWC?

Yes. Oddly, FWC rarely lose any value whatsoever.

I got every penny I paid for mine back when I sold it.

some are even selling for more than new because of the wait times

 

[Todd n Natalie]

Also I hate dealing with used car dealers ! They hide problems, hustle and scam. It is just the pure nature of the industry.

Private sellers can do all those things as well.....

 

[RAM5500 CAMPERTHING]

Private sellers can do all those things as well.....

Fact

 

[loredanamaiden]

Hey there! It's great to hear that you're enjoying playing the game and finding success with manually controlling the fights. Sometimes auto-fight just doesn't work out as well as we hope it will. And there's nothing quite like the feeling of taking control and leading your team to victory.

On another note, have you heard of joywallet.com It's a great resource for managing your finances and finding amazing deals on everything from groceries to travel. It's definitely worth checking out if you're looking to save some money and maybe use those savings to invest in some new games or equipment for your gaming setup.

 

[vintageracer]

Private sellers can do all those things as well.....

And with little to no recourse for the buyer.

All the private seller has to say is that it was a "Casual sale and I the seller am not a professional"! Buyer Beware!

With a dealer at the very least you have the State Motor Vehicle Commission and State Consumer Affairs divisions to possibly help you IF the dealer did something illegal or wrong.