Posted 2014-12-01 3:25 PM Subject: So THAT'S how they do it!!
Miss Laundry Misshap
Posts: 5271
I was looking at trailers again this morning and one of the places had a Cyber Monday deal going. With qualified credit, you could get a trailer at 3.9% APR for up to 240 Months!!!
Holy cow!! No wonder it seems that the average joe can get one of those high dollar deals....granted they'll be paying for it until they are dead, but I sure did wonder about some people!
Posted 2014-12-01 4:45 PM Subject: RE: So THAT'S how they do it!!
Miss Laundry Misshap
Posts: 5271
It is basically a mortgage. My mom (who works I. The loan department t at a bank) said if you stay in it for 14 nights a year you can claim the interest too.
Posted 2014-12-01 4:50 PM Subject: RE: So THAT'S how they do it!!
Expert
Posts: 5293
Correct, I didn't even have to stay in mine 14 nights, it just had to have plumbing and be fully self contained. I wrote off the interest as well. I always made double payments but knew I didn't have to.
Posted 2014-12-01 5:03 PM Subject: RE: So THAT'S how they do it!!
Extreme Veteran
Posts: 507 Location: Lost in the corn of Iowa.
Yep, you can claim it as a vacation home. That's how my tax lady explained it to me. As long as I stay in it so many nights. With an expensive habit like this, you need to find all the tax breaks that you can. Why do you think my hubby "sponsors" all my fuel. Shhh...just don't let him in on that secret yet. LOL!!
So THAT'S how they do it!!
Ahh where do we sign up! I need a new LQ!!! Lol! I bet you need a credit score that is unobtainable for a mere mortal!
