One more brick in place. We have approved financing for a $30,000 loan to purchase the coach. Next step: insurance. We are looking to be actual RV owners by mid-March.
The terms aren’t great, given the current low interest rates: 6.75% over 15 years with a pre-payment penalty if we pay it off in less than 3 years. But the amount of the loan is so small that I really don’t care all that much about the rate. And the monthly payment is just $265, which is just slightly more than my cable bill right now. I might decide to keep the loan for those 3 years. It will allow me to keep $30K more in my IRA, which may just about pay the interest.
Anyway, we are one big step closer to making this a reality.