financing rv

tobydad wrote:
Here is as slight problem that I had. Purchased a used class c from dealer and needed financing. No problem, I thought, my credit score was 803 and I owned my home outright and had a good retirement income. I was 72 at the time. Dealer said first bank refused me, but second bank accepted and even had a lower interest rate. Contact with first bank and they reported the refusal was because I did not have enough collateral. Again I owned my home !!! The real reason, I assume, is because of age. Probably thought I would not live another 10 years. Of course they could not say that as it is illegal.

Same here. Credit score high and own home. Good retirement income. Have not started looking yet as have not settled on which model. It will be a trade in anyway but I expect to have the same problem. Am 68 and in better shape than many 40 yr olds!

We're always glad to return to S+B after 2 or 3 months on the road. Don't sell unless you're not happy there.

Here is as slight problem that I had. Purchased a used class c from dealer and needed financing. No problem, I thought, my credit score was 803 and I owned my home outright and had a good retirement income. I was 72 at the time. Dealer said first bank refused me, but second bank accepted and even had a lower interest rate. Contact with first bank and they reported the refusal was because I did not have enough collateral. Again I owned my home !!! The real reason, I assume, is because of age. Probably thought I would not live another 10 years. Of course they could not say that as it is illegal.

The Credit Union we belong to offers 1.99% interest on 10 year RV loans, providing you have your home mortgage through them. And we did that (3) months ago as we went from 30 year note to a 15 year note at a much lower rate! Also, they offer car loans at 1.99? for 72 months. Therefore, check out your local Credit Unions. Their advantage is they do NOT have to pay income taxes on their profits! Bags.

Don't forget you can write off the interest as a second home.

It depends on your credit score and number of years you want to finance. New rigs can go to 20 years financing.
I did not sell home for first two years just in case we decided it was not for us.
You can find an amortization table CLICK HERE
plug in the numbers