20 year loan for RV?
A friend of mine was telling me that I can get a 20 year loan on most new RVs. Is this true? Now I realize how people afford those Class A RVs.
Forum Discussion
When we bought our 24' Nexus Class C used {with 6,205 miles and 18 months old} for $47,000 {$50K OTD} I put $18K down {$10K from the sale of my truck and $8K trade in on our 22' TT} and took out a $32,000 15 year loan at 4.99 per cent.
This kept the payments low {$267} and enabled me to do regular principle reductions as I saw fit and was easily able. Paid it off in 6 years saving thousands in unpaid interest. As noted just make surfer there are no prepayment penalties and you are good to go. Now with nearly 60,000 trouble free miles over the last 6.5 years we still have a great coach that has no issues/ secrets and it is PAID FOR!
:B
This kept the payments low {$267} and enabled me to do regular principle reductions as I saw fit and was easily able. Paid it off in 6 years saving thousands in unpaid interest. As noted just make surfer there are no prepayment penalties and you are good to go. Now with nearly 60,000 trouble free miles over the last 6.5 years we still have a great coach that has no issues/ secrets and it is PAID FOR!
:B
