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Camping World Financing

sandblast
Explorer
Explorer
Camping World in Kaysville Utah is listing trailers for sale with prices determined on financing through Camping World.

Not unusual in the auto world but a first for me in the rv world.
And this is on some less than 10k trailers. Like 10 yrs old.
25 REPLIES 25

westernrvparkow
Explorer
Explorer
NanciL wrote:
Jayco-noslide wrote:
i preach against financing anything but a home but not too many listen.


I'll second that and I am one of the ones who won't even finance a home any more.
My wife and I built our last two from the ground up.

A truly happy person is one who doesn't owe a penny to anyone

jack L
Wow. I never knew that I wasn't ever "truly happy" the last 40 years. How do you do it, never owe a penny to anyone? Do you prepay your taxes? Your utility providers must use a different system than what I am used to. I am always billed ( meaning I owe them) for the previous month's usage. Do you also prepay for restaurant meals and the like? To me, never owing a penny to anyone seems like a lot of hassle. And saying people that do owe cannot truly be happy seems pretty dang judgemental to me.

Grit_dog
Nomad III
Nomad III
Nice thread starter sandblast. This one took off.....like a cat with a ball of string....all over the place.
2016 Ram 2500, MotorOps.ca EFIlive tuned, 5โ€ turbo back, 6" lift on 37s
2017 Heartland Torque T29 - Sold.
Couple of Arctic Fox TCs - Sold

WTP-GC
Explorer
Explorer
NanciL wrote:
Jayco-noslide wrote:
i preach against financing anything but a home but not too many listen.


I'll second that and I am one of the ones who won't even finance a home any more.
My wife and I built our last two from the ground up.

A truly happy person is one who doesn't owe a penny to anyone

jack L

Are you sure you don't owe a penny to anyone? Try not paying your real estate taxes for a few years and come back to let us know how that worked out for you.

There always seems to be those who insist on preaching against financing. While I think paying cash for everything is not unadmirable, it's also not feasible for a great number of people who have the ability to pay cash. There are those examples of making more on investments than losing on financing costs. You also have those who can buy on ZERO percent interest for "XX" number of years. But, a blanket statement of "never financing" discounts the financial position of a great number of people who are generally advised against paying cash. For example, I could pay cash for a brand new piece of heavy equipment if I wanted to. However, my CPA advises on taking advantage of the tax laws that are more beneficial to those who finance. Also, with leaving cash in the bank, I'm in a better overall business position than if I took it out. Keep in mind, this is all relative to running a successful business in the specific trade that I'm in.

Oh, and yes, CW arranged financing for my rig that was 10 years old when I bought it.
Duramax + Grand Design 5er + B & W Companion
SBGTF

1968mooney
Explorer
Explorer
jplante4 wrote:
1968mooney wrote:
rk911 wrote:
only 13.3%?


Must be very conservative investments. Everyone I know made at least 25 percent on 1 mil. investment.


When you get old you dial back the risks and therefore the rewards. If your financial advisor is not advising you to do this, he/she is being reckless with your money.


sorry you missed out on the rewards.

tinner12002
Explorer
Explorer
Jayco-noslide wrote:
i preach against financing anything but a home but not too many listen.


Probably because most of us don't have your money! Lol!
2015 Ram 3500/DRW/Aisin/auto/Max tow/4.10s,Cummins, stock Laramie Limited--Silver
Tequila Sunrise 2012 Ultra Classic Limited
2018 Raptor 428SP

jplante4
Explorer
Explorer
1968mooney wrote:
rk911 wrote:
only 13.3%?


Must be very conservative investments. Everyone I know made at least 25 percent on 1 mil. investment.


When you get old you dial back the risks and therefore the rewards. If your financial advisor is not advising you to do this, he/she is being reckless with your money.
Jerry & Jeanne
1996 Safari Sahara 3530 - 'White Tiger'
CAT 3126/Allison 6 speed/Magnum Chassis
2014 Equinox AWD / Blue Ox

beemerphile1
Explorer
Explorer
Either I misunderstood or others have. I think the point is that CW is selling RVs with the price contingent on financing thru CW.

CW gets a big kickback from the finance company which allows them to sell the RV at a lower price. If you choose not to finance thru CW the purchase price is higher. That is why I said that providing there is no prepayment penalty; make the deal and then pay in full when the first payment comes due.
Build a life you don't need a vacation from.

2016 Silverado 3500HD DRW D/A 4x4
2018 Keystone Cougar 26RBS
2006 Weekend Warrior FK1900

1968mooney
Explorer
Explorer
rk911 wrote:
wing_zealot wrote:
rk911 wrote:

as for financing...you're going to be much happier with a cash buy rather than payments hanging over your head. is it harder...well, it certainly takes a bit longer to save up the cash but it's worth it. we've done it both ways and find that overall we're better off and financially ahead by paying cash.
I had the exact opposite experience. Last year I made 13.3% interest on my money by keeping it invested, while paying 4.4% interest on the RV loan. A 9% payday for me.

only 13.3%?


Must be very conservative investments. Everyone I know made at least 25 percent on 1 mil. investment.

rk911
Explorer
Explorer
wing_zealot wrote:
rk911 wrote:

as for financing...you're going to be much happier with a cash buy rather than payments hanging over your head. is it harder...well, it certainly takes a bit longer to save up the cash but it's worth it. we've done it both ways and find that overall we're better off and financially ahead by paying cash.
I had the exact opposite experience. Last year I made 13.3% interest on my money by keeping it invested, while paying 4.4% interest on the RV loan. A 9% payday for me.

only 13.3%?
Rich
Ham Radio, Sport Pilot, Retired 9-1-1 Call Center Administrator
_________________________________
2016 Itasca Suncruiser 38Q
'46 Willys CJ2A
'23 Jeep Wrangler JL
'10 Jeep Liberty KK

& MaggieThe Wonder Beagle

midnightsadie
Explorer II
Explorer II
real simple find your own lender. so your not paying a commission to cw.

goducks10
Explorer
Explorer
rk911 wrote:
with the reputation that CW has in terms of their sales gimmicks, ality of their rolling stock and post-sales service I'd be very, very hard pressed to buy an RV from them. lots of dealers, lots of RVs for sale. look elsewhere.

as for financing...you're going to be much happier with a cash buy rather than payments hanging over your head. is it harder...well, it certainly takes a bit longer to save up the cash but it's worth it. we've done it both ways and find that overall we're better off and financially ahead by paying cash.

if the OP must finance then, a) shop around; and, b) put enough down so that you will never be upside down on the loan for the entire time you expect to own the RV.


Not saying paying cash is wrong as I agree totally. But if everyone was saving for an RV the RV industry would be dead. Along with the housing sector and the auto sector. Now the housing rental business would be booming. Credit is an important factor of our economy. Too much is wrong but sometimes a little isn't so bad. JMHO.

kerrlakeRoo
Explorer
Explorer
Every RV dealer has some local banks that they have a relationship with, give them a try, or your own bank.
Interest rates are still low, so you should not have an overt problem unless you have past issues which cause problems.

wing_zealot
Explorer
Explorer
rk911 wrote:

as for financing...you're going to be much happier with a cash buy rather than payments hanging over your head. is it harder...well, it certainly takes a bit longer to save up the cash but it's worth it. we've done it both ways and find that overall we're better off and financially ahead by paying cash.
I had the exact opposite experience. Last year I made 13.3% interest on my money by keeping it invested, while paying 4.4% interest on the RV loan. A 9% payday for me.

rk911
Explorer
Explorer
with the reputation that CW has in terms of their sales gimmicks, ality of their rolling stock and post-sales service I'd be very, very hard pressed to buy an RV from them. lots of dealers, lots of RVs for sale. look elsewhere.

as for financing...you're going to be much happier with a cash buy rather than payments hanging over your head. is it harder...well, it certainly takes a bit longer to save up the cash but it's worth it. we've done it both ways and find that overall we're better off and financially ahead by paying cash.

if the OP must finance then, a) shop around; and, b) put enough down so that you will never be upside down on the loan for the entire time you expect to own the RV.
Rich
Ham Radio, Sport Pilot, Retired 9-1-1 Call Center Administrator
_________________________________
2016 Itasca Suncruiser 38Q
'46 Willys CJ2A
'23 Jeep Wrangler JL
'10 Jeep Liberty KK

& MaggieThe Wonder Beagle