Question of the Week
 
Is your RV paid for or are you making payments?
 
With  2358 responses thus far, here's how the voting is going:
 
Paid for
59.37% (1400)
Making payments
40.63% (958)
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We financed our 2005 5th wheel at 6% and the payments are $290 a month. But we pay $700 to speed up the payoff and will be paid off 18 months from now. By locking in a low regular payment amount, if we need to pay only that, we can. But we knew we could pay a lot more, so we do, almost every month to reduce the finance timeframe ourselves. The flexibility empowers us and enables us to handle payoff in a fashion that works with our other financial commitments.
Posted:   4/11/2009  By: Patty  
"MY" old class"A" is payed for I payed cash for it 10 years ago befor I took a medical retirement MS.Sarah, SEATTLE
Posted:   4/11/2009  By: MS.Sarah  
I am paying and @ 7% but it will be paid off in May when my CD comes due. That will be an extra $350.00 a month!!
Posted:   4/11/2009  By: Pat  
As one of our homes was paid for and we needed the tax break we refinanced the house to pay for the RV. Now the renters make our RV payment.
Posted:   4/11/2009  By: Anonymous  
When we bought our current Monaco, we chose to leave the purchase money in the bank and pay for the M H monthly. This keeps a reserve for us plus lowers our monthly availability of money. Because we just entered retirement, I felt this was better as it adjusts our spending level and living style to an artifically lower level and should help us live on a fixed income while the dollar slowly becomes worthless (or is that worth less) ;)
Posted:   4/11/2009  By: SHvnDave  
I chose to finance my 5th wheel in order to keep a line of credit open since my home 2 cars 1 truck 1 bass boat and 2 motorcycles are all paid for. This way if an emergency arises i have a credit history to get a loan if needed.
Posted:   4/11/2009  By: Bodean46  
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