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 > Fed Cuts Rates: Will RV Rates Follow?

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time2roll

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Posted: 03/06/20 08:05pm Link  |  Quote  |  Print  |  Notify Moderator

mich800 wrote:

You may need to rerun the math. Person in my example made $400. And I would be even unless I sold at the end of trading day. Why are you assuming there is a buyer and seller that coincidentally have the exact cost basis?
If there are 10 people in a room and each has 100 shares and 1,000 dollars..... You can trade with each other all day long in any combination. The room still has a net total 1,000 shares (10 x 100) and $10,000 in cash (10 x $1,000) Yes some will win, some will lose. Net sum is zero because within the room as a whole the total is unchanged. Zero sum. QED


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steelhunter

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Posted: 03/07/20 10:15am Link  |  Quote  |  Print  |  Notify Moderator

Deleted

* This post was last edited 03/08/20 01:15pm by steelhunter *   View edit history

2oldman

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Posted: 03/07/20 12:03pm Link  |  Quote  |  Print  |  Notify Moderator

All you guys have to do is google "stock market zero sum". But I guess that ruins the fun.

John&Joey

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Posted: 04/03/20 07:55pm Link  |  Quote  |  Print  |  Notify Moderator

Yosemite Sam1 wrote:

DallasSteve wrote:

John&Joey wrote:

DallasSteve wrote:

The Fed cut rates 1/2 percent this morning in an effort to keep the stock market bubble growing. I'm negotiating a new RV loan to close in 10 days and the dealer quoted me 5.49% last week. I haven't signed anything yet. Will they adjust my rate any or will other lenders drop their rates? (I am almost always a day late on things like this - or in the case of the senior pass, a year late)


The real question will be are you secure in your income stream. If the economy has been overly stimulated where a 1/2 point out of nowhere cut was needed to stem off a crisis, then that’s only going to be a bandaid fix. It wasn’t that long ago that the RV auction sites were full of repo’s.

I'm putting down over half of the purchase price. I could pay cash, but I have personal reasons that I want a lien on the motorhome at this time. But I'm not going to explain those reasons here.




Just take a loan for as much as you can and use your cash to buy Tesla stocks -- or Apple.



So how did that work out for you?

wa8yxm

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Posted: 04/04/20 05:18am Link  |  Quote  |  Print  |  Notify Moderator

Will the banks cut rates for RV loans.. GOOD question.

I am concerned that modern Economics being what they are (Murphy's law applies)

When the Fed Raises the rates.. The Banks do likewise and blame the feds
When the Fed Lowers the Rates.. The bankers pocket the profit.

But there is one story I like (Levi Strauss, Blue Jeans King)

He went to the bank for a small loan. Was denied
A couple years later he went back and found the loan officer who denied him and ask "Do you remember me" . (NO) Well you denied me a loan back in (year) (I don't work in loans any more) "I know in fact you don't work for the bank any more.. Your're fired" (You can't fire me only the new owner can fire me)
"I know.. I just bought the bank."

Now that.. IS Revenge best served.


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babock

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Posted: 04/04/20 12:51pm Link  |  Quote  |  Print  |  Notify Moderator

wa8yxm wrote:

Will the banks cut rates for RV loans.. GOOD question.

I am concerned that modern Economics being what they are (Murphy's law applies)

When the Fed Raises the rates.. The Banks do likewise and blame the feds
When the Fed Lowers the Rates.. The bankers pocket the profit.

But there is one story I like (Levi Strauss, Blue Jeans King)

He went to the bank for a small loan. Was denied
A couple years later he went back and found the loan officer who denied him and ask "Do you remember me" . (NO) Well you denied me a loan back in (year) (I don't work in loans any more) "I know in fact you don't work for the bank any more.. Your're fired" (You can't fire me only the new owner can fire me)
"I know.. I just bought the bank."

Now that.. IS Revenge best served.
That story has been debunked years ago.

pnichols

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Posted: 04/04/20 06:31pm Link  |  Quote  |  Print  |  Notify Moderator

DallasSteve wrote:

The Fed cut rates 1/2 percent this morning in an effort to keep the stock market bubble growing. I'm negotiating a new RV loan to close in 10 days and the dealer quoted me 5.49% last week. I haven't signed anything yet. Will they adjust my rate any or will other lenders drop their rates? (I am almost always a day late on things like this - or in the case of the senior pass, a year late)


Do you still own a stick house?

If you do, the cheapest way to get money for an RV is to pay for it by taking out a 2nd (or 1st) loan against your stick house. Make it a 15 year loan (instead of a 30 year) so that you get one of those great new ultra-low interest rates ... but then go ahead and pay if off way quicker than 15 years if you wish. While you're paying it off at whatever speed, you have in effect financed you're RV at a rate far lower than any stand-alone regular RV loan.

In other words, use the equity in a stick house as a source of cheap money to pay for things other than home improvement projects.

* This post was edited 04/04/20 07:53pm by pnichols *


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babock

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Posted: 04/06/20 11:01am Link  |  Quote  |  Print  |  Notify Moderator

Financing a depreciating asset with your home is just a bad idea.

goducks10

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Posted: 04/06/20 12:07pm Link  |  Quote  |  Print  |  Notify Moderator

babock wrote:

Financing a depreciating asset with your home is just a bad idea.


If you own your home or have a huge amount of equity then why not?
Saving money while financing is the OP's main goal. I would think that if you can save 1-2% on a 10 year loan that that would be beneficial.
5.49% vs 3.49% saves $2,394 over 120 months. Depending on added fees for a home equity loan the OP could save $1,000's.

pnichols

The Other California

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Posted: 04/06/20 05:03pm Link  |  Quote  |  Print  |  Notify Moderator

babock wrote:

Financing a depreciating asset with your home is just a bad idea.


If one must finance a depreciating asset - and if one would normally eventually pay off the loan that they used to buy the depreciating asset, anyway - then financing the loan at the lowest obtainable interest rate is always a good idea.

There is one possible exception to the above almost-best practice: If a situation should arise such that one could no longer continue paying off ANY loan, then I guess it's better to have the depreciating asset repossessed along with one's credit ruined - than to have one's home repossessed along with one's credit ruined. [emoticon]

* This post was edited 04/07/20 11:24am by pnichols *

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