JALLEN4
OHIO
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Joined: 10/02/2003
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I come in contact with the RV Industry often in a couple of my businesses. Without fail the answer to poor sales is the lack of financing rather than the fuel cost. As an avid reader of this Forum I always find this odd. It seems 95% of our participants report they would only pay cash. These two viewpoints just don't match-up.
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Bobbo
Memphis, TN
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Joined: 09/16/2007
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Maybe the ones who pay cash are more vocal (spelled B-R-A-G-G-I-N-G).  For the record, I paid cash for mine last September. (brag brag brag)
Bobbo, Linda and the furry kid (German Shepherd)
'07 Winnebago Outlook 31C on a Ford E450 Super Duty Chassis
NRA Life Member
Near N35 12 17 W89 50 57
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Delaine and Lindy
Linden Tn. (The View)
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Joined: 02/20/2005
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We have bought two 2009 model 5th wheels this year, we were told several different times that about 65% of loan request are turned down due to bad credit or low credit numbers. In most cases you will have to have over 780 on credit report to get a good interest rate. GBY...
2008 Chevy Silverado LTZ 3500, DRW
2008 Chevy Equinox LTZ
2009 Mobile Suites 36TK 3
B&W Hitch
www.webspawner.com/users/lnhdch
We are Blessed !!!!!!
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coolbreeze01
Redding, Ca
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Joined: 08/24/2006
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Delaine and Lindy wrote:We have bought two 2009 model 5th wheels this year, we were told several different times that about 65% of loan request are turned down due to bad credit or low credit numbers. In most cases you will have to have over 780 on credit report to get a good interest rate. GBY...
Congratulations on almost single-handed keeping the industry going 
2008 Dodge 3500 CTD LB SRW 4X4 6-Speed Auto
P3 Blue Ox Sway Pro
2007 Komfort 212
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mockturtle
Northwest
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Joined: 05/31/2005
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Bobbo wrote:Maybe the ones who pay cash are more vocal (spelled B-R-A-G-G-I-N-G). For the record, I paid cash for mine last September. (brag brag brag)
We have paid cash for our RVs but both MHs were four years old when we bought them and only our TT was new. Not bragging, we're just too cheap to pay interest, that's all.
Correction: Our Class C was eight years old when we bought it. Our DP was four years old.
* This post was
edited 08/31/08 08:46am by mockturtle *
Husband: Derek
Dog: Bucky
RV: 2000 Aerolite 19RB TT
TV: 1996 Chevrolet Blazer 6 cyl. 4WD
This car used to be our toad, now is our TV!
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Sea Dog
Ontario Can.
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Joined: 04/15/2001
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Why would paying cash be equated with bragging?
Another thing that I have never understood is howcome those who claim to be unable to save money can suddenly come up wth several hundred dolars a month in payments, for ten or twenty years yet?
Life is short,Death is long,
Take a vacation.
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Bumpyroad
Virginia
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Joined: 12/01/2005
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Sea Dog wrote:snip
Another thing that I have never understood is howcome those who claim to be unable to save money can suddenly come up wth several hundred dolars a month in payments, for ten or twenty years yet?
perhaps having those payments is why they have no cash to come up with?
bumpy
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mockturtle
Northwest
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We have had the cash because we've stayed out of debt. The only 'bragging rights' in that is self-restraint. The only reason I have mentioned the fact is to advise people that paying cash (even if it means buying an older RV) is cheaper in the long run. To be upside down on an RV loan is a good indication to me of poor planning.
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Aridon
SE Florida
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Joined: 06/06/2007
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Economy is down because people binged and spent from home equity and credit like drunken sailors the last 10 years or so, climaxing into a debt filled mess the past 5 years.
Now that the money has stared running dry and people simply can't borrow much more you are starting to see things jerk back to a more normal level.
Everybody and their younger brother were buying newer, bigger houses, boats, ATV's, RV's, RV lots new cars etc etc
Now they are sitting at home in many cases with well over 100k in "toys" they really couldn't afford complaining how the extra $300 for the trip is going to keep them at home.
Penny wise yet dollar foolish. One less toy and they could be tooling around in their RV's, that 20k they dropped on a new boat or 2 ATVs or whatever could have filled their tank many times over.
No more home equity to rape for toys. Maybe next time people won't treat their houses like a giant wallet. They'd also be much less likely to owe more than the house is worth if they didn't already have 10-20% of the house value in equity tied up within a year of buying the house. Much less those that did that straight out the gate because they didn't have nearly enough down payment to keep them out of PMI so they play games with 80/20 and 90/10 loans for little to nothing down.
Then people have the nerve to wonder why they are in trouble but when you take a look at their financial s you see they have not paid for a major purchase is 5 years and have relied on credit to stretch just about everything out.
Sure not everyone did this, but certainly enough to create a national issue out of it.
2008 Newmar 4330 (Modified)
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Cloud Dancer
San Antonio and Livingston TX USA
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Joined: 06/08/2001
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Look, even if you pay cash for a big motorhome, it's not the end of the spending. You still need plenty of cash to pay for the cash that you've spent PLUS the money it takes to enjoy your motorhome. Recently, I was reminded of how much it costs even if my motorhome just sits in the backyard. And, if I take it on a trip, I better come up with a fat wallet.
I'll remember to brag next time I take it out on a long trip.....
Willie & Betty Sue
Miko & Sparky
2003 41 ft Dutch Star Diesel Pusher/Spartan
Floorplan 4010
Blazer toad & Ranger bassboat
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