Do you OWN your pop-up/hybrid, or do you have an outstanding LOAN on it? Did you borrow, but pay it off, or pay cash up front?
Austin
I used my "0" percent credit card to purchase my PU.
Originally we financed thru the dealer. Paid it off with a home equity loan and then sold the house a few years later. So I consider it paid for:D
Jacqui
We have a standing policy around our house:
"If we can't pay cash for it....we can't afford it."
We "Borrow" money from our savings account and set up a "Repayment plan" (with interest) on big ticket items.
We traded the PU on a new but year-old HTT. Financed it with a home equity loan, paid it off in a year.
We paid cash, the money i had put away to buy a Big Dog Chopper. I love the PU, but i cant feel the wind in whats left of my hair when riding it!! :sombraro:
I borrowed the money from my bank using my saving account as collateral and got a lower interest rate. I paid it off by making two payments at a time.
Borrowed from the credit union, good interest rate ... cheap monthly payment (100.00). Deduct the interest on my income tax as a 2nd home.
Saved up and paid cash. We had to wait a year to do so, but not having that payment is worth the wait.
We shopped around for the best rates on both of our PUP's and then financed. We paid them of in about 2 years so we had no more trailer debt. We are now paying on a loan for our hybrid and we'll see what we do this time.
Loan..DH wants the tax write off
Which Camper?
No. 1 Free
No. 2 Financed
No. 3. Financed
No. 4 Financed
No. 5 Paid Cash. Finally retired from teaching and could afford to pay cash for this one. Go figure.
LOL Gene ~ I'm amazed at what my parents could afford after they retired!! Especially when compared to what they could afford while raising 4 kids.
Paid cash for both PUs. I hate owing money!
Quote from: GeneFWhich Camper?
No. 1 Free
No. 2 Financed
No. 3. Financed
No. 4 Financed
No. 5 Paid Cash.
The original question was "Do you own or have a loan on your
current trailer?" :p I do think, however, that the question could be displayed in a larger typeface. On most web pages, I never read text that small.
Austin
cash is the only way around here...the borrower is slave to the lender.
We saved up a year and paid cash. We'll be picking it up next week. It will be nice to know the first time we use it that we own it free and clear. Found a clean used 99 starcraft 2107 for $3,000.00 with Air!! Can't wait to use it. Never used a popup before.
We also saved up and paid cash. :D
Now if I could just break my leasing habit on the truck............. ;)
By the time we realized what a great idea a popup was, our "kids" were getting older. We decided to use a home equity loan. It was either that or spend the last few of years of having our "kids" around without going on any trips together. We were able to squeak out four summer trips with the girls before they got too old to be able to join us. One was our monumental trip to Yellowstone. The second was a lovely trip to the coast of Maine and Acadia National Park. The third was to Kentucky and the Mammoth Caves. Finally we made it to Glacier National Park in northwestern Montana. Those four trips provide a lifetime of memories for our family. After that, we sold the house and used the proceeds to pay off the camper. Now we own it free and clear. This summer, even though my daughters are both well into adulthood, one of them has said that she'd like to go camping with us. We are talking with her now about planning her vacation so that she can join us for a trip. We're thinking of maybe the blue ridge parkway into North Carolina. I wasn't real happy to borrow money in order to get a camper, but in retrospect I'm very glad we did it.
-Speak
Paid cash....but it feels like we have a payment when we pay $100/month for the trailer's storage!
Lisa
Paid cash. Bad enough makng payments on the truck so I didn't want another.
started off with a 1995 Coleman Utah in 2003, paid cash for it, then tree fell on it a couple years later. Took ins. $ and a little more $ we saved and bought a 1999 Coleman Mesa, then sold it a couple years later because it was too much for our T.V. Took the money from that sale (came out about $200 ahead) and bought a 2001 Seapine. We love it, it's small and it was like new when we bought it last fall. It's not a hybrid which I would LOVE to own someday, but IT'S PAID FOR :-() It's the ONLY thing that's paid for, but will have T.V. paid for in a couple of months, even though it's about shot, LOL! And then my van can tow it :p
I accidentally put this in a new thread instead of posting it under "Do you own or loan?" If the moderator could put this post where it goes, I'd greatly appreciate it! Thanks! :p
Put it on American Express for points. Then paid it off at the end of the month...so, both loan and cash, I guess...
Both my campers I bought used - VERY used, so I could pay cash and not have debt on them.
I have to admit I've gone into debt on too many other things in the past - but it's nice to know that I own my camper and my car free and clear!
(if I go bankrupt, I guess I can live in them - right? :yikes: )
laura
Had a Jayco sg10 that was paid for,also a Pathfinder SUV that was paid for.
Now have a Coyote C20 and a 1996 Silverado. so now I'm in debt to my eye balls :yikes:
We have a rule in our home no loans for recreation!!! We learned this the hard way, but a great lesson indeed.
Paid cash---vintage fixer upper. More importantly, also paid cash for the fixes we've done so far. Doing more as cash flow permits.
Munchkin
Count me in on the Instant Credit Plan, 100% down, nothing per month. I don't like owing money either.
Bob
Paid cash. Toss me in the "hates having a loan" group.
Credit Union loan and paid off loan after 2 months. Now I cant sing "I Owe, I Owe, so tis off tu work I go..." Bein semi retired is great...except for the honey do's.......... Oh well time to get the PUP ready.
Paid cash for our 20 year old PUP and did all the work myself, so we're sittin' on a gold mine. Okay.....so we're sittin' on a 20 year old Starcraft that didn't cost much and we're having a blast with.
Our pup we paid cash for, the TT however we owe on. Temporary insanity I guess but think it was still worth it.
took loan from credit union got good intrest rate 6.79 percent will pay half off with xmas bonus hope to have rest paid off late next year
We saved up and bought it out right (used but NTU). Then after saving and having gotten used to having the money in the bank, we got a loan for half of it at 4.75% from the bank and replenished the savings. I like having a couple months mortgage in the bank and at that % rate with the second home tax write off it balances out. Or at least in my mind it does :eyecrazy: We learned right after college about getting in too much debt so now we only have our mortgage, one kid's braces and the pup that we owe on. The trucks are paid off, no credit card debt, no other loans.
I need to change my answer...It's paid off now!
CASH FOR US........Being retired we need to have our play things paid for.....except for the tow truck still working on that!? :yikes:
We learned the hard way....No Debt for anything except the house!!!
We saved our nickles and dimes and paid cash for our 2007 Utah! It really makes the PuP more fun..No burden just a lot of relaxing!!
I paid cash from all the money I won playing poker with my camping friends. Next year we're thinking of getting a diesel pusher. :-()
Since we only paid $500 for it we were easily able to pay cash for it. Even if we had to pay more we weren't going to buy anything that we couldn't pay cash for.