Financing

I'll be getting a "dinghy" or tow dolly or whatever people call it lol. I'm strictly asking about financing. I'm good as far as the expense each month.

Check the bank or preferably the credit union you use. If you have a good long standing relationship with them they may be able to help. Good luck and I hope you get to live your dreams.

Danek wrote:
That makes sense and no, no hurt feelings. I'm just trying to weigh options. (Or the non existent options lol) Could I not just declare residency at a relatives home..?

that could be the makings of Bank Fraud. be careful.

Ok good to know. I didn't know the specifics of it.

Danek wrote:
That makes sense and no, no hurt feelings. I'm just trying to weigh options. (Or the non existent options lol) Could I not just declare residency at a relatives home..?

Another reason lenders rate you low.
The lack of ethics you show with your post.
Basically you state " I will lie to get what I want".
and you wonder why a lender will not give you the money.
Seems like your trying to find ways to SCAM the system

Wow seriously? When I was at camping world the guy told me if I got a loan to tell them I wouldn't be full timing. Sounded like such a normal thing in the RV community if a salesman is telling me that.

How disrespectful. I'm here trying to learn and you try to judge me after trying to get information? I'm not trying to scam, full timers have no legit address right? Trying to figure out how all that works.

Danek wrote:
Wow seriously? When I was at camping world the guy told me if I got a loan to tell them I wouldn't be full timing. Sounded like such a normal thing in the RV community if a salesman is telling me that.

How disrespectful. I'm here trying to learn and you try to judge me after trying to get information? I'm not trying to scam, full timers have no legit address right? Trying to figure out how all that works.

Not only does their comment seem harsh, but it has no basis in reality. Can you imagine lenders scouring these forums to find out who is honest? "Find out who Danek is and attach a copy of this post to his credit report." I think you make a valid point. Full-timers have no fixed address in many cases. What address should you use on a bank loan? It's not in the Constitution. I looked.

Looks like the OP is looking to finance now, so improving their credit ratings, while excellent long term advice, isn't an option for their current situation. The credit union seems like the best option, since he's current on his auto loan with them. Perhaps that matters, although they are also aware of the debt on the auto, and might not want to take on more risk. Can't hurt to check, won't know unless you ask.

Check online for the rates for people who have good credit, and be somewhat leery of going too far over that. A RV is a depreciating asset, and if you're purchasing it with a low down payment and a high-rate, long term loan, you're going to be underwater for the entire loan period, and pay far more than cash buyers or those who make a large down payment and qualify for a lower, shorter-term loan. It's not a good deal if the only way to make it is on a bad loan. Under those circumstances, better to postpone for a year and improve your credit ratings enough to get a better deal.

Danek wrote:
Wow seriously? When I was at camping world the guy told me if I got a loan to tell them I wouldn't be full timing. Sounded like such a normal thing in the RV community if a salesman is telling me that.

How disrespectful. I'm here trying to learn and you try to judge me after trying to get information? I'm not trying to scam, full timers have no legit address right? Trying to figure out how all that works.

Well I am sorry if I offended you but the way it sounds is you are trying do do everything but get your credit in order so you can legitimately purchase a rig. But the guy at CAMPING WORLD was trying to scam the system also. His mission to SELL YOU A RIG if you get caught lying no skin off his nose he got the commission.

THIS SHOULD BE SOMETHING CAMPING WORLD HIERARCHY LOOKS INTO A SALESMAN TELLING A CUSTOMER TO LIE IN ORDER TO GET FINANCING!.

Perhaps, "I'll lie to get what I want" was a poor choice of words, but the point that all fulltimers don't have a "real" address is well taken. If we were to fulltime, we would use our son's address as our "legal" address. I've seen it on these forums lots of times. Not everyone gets a mail forwarding service, but use family instead. I've also seen it suggested numerous times to NOT tell the financial institution that you'll be fulltiming. It's much easier to get financing (assuming all the other financing criteria is met) when you currently have a place to live with a valid address. They don't need to know what you plan to do in a few months after you get your loan (as long as you keep up your payments.)

I agree that perhaps you'd be better served to put some time on your side and clean up your credit. It can be done. I think things would probably go more smoothly all the way around. Our son has severe PTSD and TBI from being a Green Beret. His credit is trashed due to his severe problems,for which he's now getting treatment. I'm not going to judge you on your problems and why your credit score is so low. Sometimes the problems are self-made, and sometimes it's just circumstances. But for the grace of God go I.