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Insanity of 10 year consumer credit loans Vs Investing those $
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purplepride0
Posted 2/7/2021 15:28 (#8814150 - in reply to #8813193)
Subject: RE: Insanity of 10 year consumer credit loans Vs Investing those $



West Central MN (between MMF and Larson's)
LJKCK - 2/7/2021 10:27

coup - 2/7/2021 08:20



Was talking to a guy the other day, one of the workers that he is boss of where he works bought a new camper on 10 year loan @ 6.5% int.



This phenomenon took off last year for what ever reason, not exactly the same terms but campers, boats, ATV/UTV, you name it. While some were tightening the pocket book not knowing what was in store with a "pandemic" others felt it was necessary to go crazy buying toys. By March it was hard to find any of them things without going hundreds of miles away. Lots of toys financed 10-20 years out. I don't get it but to each their own.


People are loosing their minds feeling couped up. Anything outdoors, snowmobile, ice house, pontoon, campers, lake cabins etc are all moving like hot cakes.

My gut hunch is there will be some damn good deals on used stuff in a couple years once the reality of 10 year notes on fish houses etc start hitting peoples budgets.
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