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Open Roads Forum  >  Fifth-Wheels

 > Financing question

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cummins2014

Utah

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Posted: 08/06/19 09:30am Link  |  Quote  |  Print  |  Notify Moderator

nickthehunter wrote:

Go online and find the best rate you can, someone mentioned light stream - a good choice, there are others. Chances are, the dealer can still beat it, but you got to have a good number then let them shoot it down. They have very good resources to beat just about anything you can get on your own.
As for the upsells, just say no, it's that easy.


Both interest rates I got that I stated in the above post, was the car dealer. Didn't bother to even check further.

The upsells are easy as you say, just say no. I have no problem .

philh

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Posted: 08/06/19 09:37am Link  |  Quote  |  Print  |  Notify Moderator

We had the cash, used the dealer to set up the loan... Their bank was a royal PITA to deal with. Finally got tired of their inability to properly record our payments and just paid it off.

lcseds

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Posted: 08/21/19 08:38am Link  |  Quote  |  Print  |  Notify Moderator

Alway best to have the cash to buy. But then don't. As long as you have the liquid assets to cover the note, you're safe. Invest it and see a 8% average return (mine is about 10% over the last 10 years) and not only have your returns cover the RV interest, but also some of the principle. Others peoples money for big ticket items is always the best choice.

laknox

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Posted: 08/21/19 09:07am Link  |  Quote  |  Print  |  Notify Moderator

Another tip that a lot of people overlook, is to split your payment and make 2 payments per month. Better yet, take your total payment, round it up some to pay extra to principal =and= make 2 payments/month. Just make sure there are no pre-payment penalties!

Lyle


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Lynnmor

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Posted: 08/21/19 09:11am Link  |  Quote  |  Print  |  Notify Moderator

I have made exactly 0% on investments over the last two years, so I don’t finance anything. To expect near double digit returns might cause disappointment.





time2roll

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Posted: 08/21/19 09:48am Link  |  Quote  |  Print  |  Notify Moderator

Lynnmor wrote:

I have made exactly 0% on investments over the last two years, so I don’t finance anything. To expect near double digit returns might cause disappointment.
S&P 500 index fund should be up 20% over the past 24 months.

For those paying cash I recommend using a maximum of half your savings and finance the rest. Plan to pay the loan and pay back your savings.


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troubledwaters

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Posted: 08/21/19 10:53am Link  |  Quote  |  Print  |  Notify Moderator

Lynnmor wrote:

I have made exactly 0% on investments over the last two years, so I don’t finance anything. To expect near double digit returns might cause disappointment.
Yes, "YOU" really shouldn't invest money; if you couldn't make a profit over the last 2 years you must really be bad at it. Best bet for "YOU" is to put it in your mattress.

Lynnmor

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Posted: 08/21/19 12:52pm Link  |  Quote  |  Print  |  Notify Moderator

troubledwaters wrote:

Lynnmor wrote:

I have made exactly 0% on investments over the last two years, so I don’t finance anything. To expect near double digit returns might cause disappointment.
Yes, "YOU" really shouldn't invest money; if you couldn't make a profit over the last 2 years you must really be bad at it. Best bet for "YOU" is to put it in your mattress.


Thank you for that, I am rather stupid for letting Morgan Stanley manage my investments for the past six years. They did well the first half of that time but have repeatedly made poor choices recently. I simply recognized that age may catch up with me and I wanted to put things on cruise control to make it a bit easier for the survivors. Yes, I am close to firing them, but I also know that there is no perfect answer except to allow some genius on here manage it for me.

Big Katuna

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Posted: 08/21/19 02:47pm Link  |  Quote  |  Print  |  Notify Moderator

Check out Dave Ramsey’s website and checkout some of his advice and perhaps consider one of his approved advisors.

You should be able to meet or beat the S&P average.

Morgan Stanley is selling you their junk.


My Kharma ran over my Dogma.

time2roll

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Posted: 08/21/19 02:59pm Link  |  Quote  |  Print  |  Notify Moderator

Lynnmor wrote:

Thank you for that, I am rather unfortunate for letting Morgan Stanley manage my investments for the past six years. They did well the first half of that time but have repeatedly made poor choices recently. I simply recognized that age may catch up with me and I wanted to put things on cruise control to make it a bit easier for the survivors. Yes, I am close to firing them, but I also know that there is no perfect answer except to allow some genius on here manage it for me.


Go with the advice of John Bogle and Warren Buffett and open an account at Vanguard.
Invest in the basic SP 500 index. VFINX or VFIAX

Very few beat the market so just be happy to have the wind at your back investing with the 500 largest companies in the US.

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