Use my own savings or borrow?

whinger1

Retired and buying a campervan. I have enough cash to buy it with enough rainy day finance left

Should I use all my own cash or borrow some/ all from credit union?

Any advice greatly appreciated

Thanks in advance

Wanderer78

no advice, but dont cheap it, you ll be sinking more and more into it if you do, best of luck with it

Neames

https://www.boards.ie/discussion/2058292403/use-my-own-savings-or-borrow

If you have enough to buy it and still have a healthy rainy day fund, I would suggest going that route father than paying interest in a loan.

Atlantic Dawn

What percentage of your savings would the camper van cost?

elperello

You won't get as much interest on your savings as you will pay to borrow so if you are comfortable with the buffer you will have left I think you should use your own cash.

Bon Voyage.

whinger1

Thanks to all. I would be using about a third of my savings

Neames

https://www.boards.ie/discussion/comment/120480167#Comment_120480167

Seems like you're in a healthy position so. You can always build up those savings again with the money that you would have paid on a loan. Enjoy your trips.