Motorhome financing
As newbies to the RV lifestyle dream we are researching and preparing to buy our first RV. We know we want a large Class A built with high quality which with our budget means older high quality versus...
Forum Discussion
daveb1256 wrote:I think you are on the right track.
As newbies to the RV lifestyle dream we are researching and preparing to buy our first RV. We know we want a large Class A built with high quality which with our budget means older high quality versus newer high production/lower quality. With the current state of the investments markets, we are reluctant to withdraw all of the funds to pay cash. While investigating the credit markets for RV financing we were offered a loan in excess of 100K at a rate of 5% provided our down payment was 20%. Early prepayment penalty of $200 if repaid before 36 months, none thereafter. Can any of you offer any potential pitfalls we should be aware of? Or any experience with Boatloan.com? Thank you for your advice and relative experience!
Although consider renting something for a week before you buy. For some that is new it might be difficult to know what you really want. Best to have a little prospective on how things operate and to be aware of RV limitations. Otherwise you might be looking to trade within a couple years.
