We want to know: At this very moment, do you own your RV outright or do you make payments on it? If you do make payments, will you share in the comments below the poll how much longer you’ll be making payments (if you don’t mind sharing, of course)?
If you’re curious about RV payments, this article by The Savvy Campers is very informative and answers a lot of questions. Check it out. (Mind you, the article is from 2019 and prices have gone up [did someone say WAY up?!] since then, so keep that in mind.)
Mine, mine. Cash is King.
We have 3 RV’s. A 5th Wheel, a Park Model and a Class C. The Park Model was Paid cash for and we make payments on the other 2.
Very interesting question. Surprised by the answer. It must tie in with the average age of these owners. I recall a news clip recently that showed the average American could not come up with $2000 cash for a emergency. Wonder how many cash buyers used home equity loans?
Home equity loan is still a loan. It shouldn’t be considered a cash buy.
…or their 401 account funds?
I shudder at the thought of financing one at today’s interest rates….Yike’s!
Our first sticks & bricks home was at 12% interest; glad the current one is only 3.5%
President Carter era. Realtors starved during those years.
A lot of them are starving again now.
Paying it off early; payments will end next year!
Payments? That is a bad word in today’s RV world…or vehicles…or houses….
Bought it last year. We make double payments+, and will have it paid off in another year.
I don’t know which will run out first, me or the payments. It may not be the smartest way to RV, but I can afford it and it lets me do what I most enjoy doing.
I love your comment, your style and your honesty. Rock on Gene.
We’ve owned three motor homes between 1986-2024, the last two were new and paid for in cash!
Made payments for the first year, until the 1 year warranty was up, then paid it off.
Make payments with additional principal.