Looking at purchasing both a large suv/or pickup truck, and also a travel trailer to live in, later this year. I have over $125k in high yield savings account, zero debt, and I make over $80k a year. Also some more perspective, I have no kids and in my 30s. My job has me traveling for work so living in a travel trailer is a practical option. I do not want to buy a house. I haven't decided which is better;
OPTION #1: Pay cash in full for truck, finance travel trailer.
OPTION #2: Finance truck (after large deposit, something like 50% or whatever), then pay cash for travel trailer.
OPTION #3: Put down large deposit for BOTH truck & trailer, making monthly payments on both.
OPTION #4: Pay cash (depending on total costs of each) for BOTH the truck & trailer, and be done with that. Although that would probably eat away at most of my savings, assuming the total cost is $100,000++.
I plan on keeping both the truck and trailer for up to 10 years or more. My current vehicle I've had for 8 years now and plan on keeping it probably forever. I paid that off in 18 months, haven't had a car payment in years, I like to keep my vehicles for a long time.