Financing & Loan Options for RV 5th Wheel
I will be buying a 5th wheel soon and this will be our first RV purchase. We are looking at 5th wheels in the $45-65,000 price range. Would it be better to get financing directly through the dealershi...
Forum Discussion
Below is what I have found so far and will call most tomorrow - any good/bad feedback on the ones below?
I know it would be best to pay cash and I know the long term loans you end up paying more if you take the full term.
My plans would be to put as little down as allowed and take a long term and pay off earlier but enjoy the smaller monthly payment now (i know it may not be the best financial option but it is the one I have accepted to work best for me at this time)
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-Suncoast Fed Credit Union - https://www.suncoastcreditunion.com (my local bank)
-5.5 APR , 15 year max,
Present calendar year model and previous three calendar year models.
-Maximum term available only on present and one previous year model.
-Maximum of $100,000.00.
-Payment Example: 180 payments of $8.18 per $1,000 borrowed based upon a 5.50% APR.
-Not available for RVs being used as a primary residence.
===============================================================
Alliant - http://www.alliantcreditunion.org/
-2.99 % 8 years term but other part of website says 20 year term options
-same day approval
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-Essex Credit - https://www.essexcredit.com/
-3.85 APR starting at for $50k plus models
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-Good Sam Finance Center - 800-444-1476, goodsamrvloans.com
-term up to 20 years on $50k plus models
-3.85 APR starting at for $50k plus models
===============================================================
-Sun Trust Bank - 800-279-4824, suntrust.com (another local bank in my area)
-loans up to $54,600 for towable RV
I know it would be best to pay cash and I know the long term loans you end up paying more if you take the full term.
My plans would be to put as little down as allowed and take a long term and pay off earlier but enjoy the smaller monthly payment now (i know it may not be the best financial option but it is the one I have accepted to work best for me at this time)
===============================================================
-Suncoast Fed Credit Union - https://www.suncoastcreditunion.com (my local bank)
-5.5 APR , 15 year max,
Present calendar year model and previous three calendar year models.
-Maximum term available only on present and one previous year model.
-Maximum of $100,000.00.
-Payment Example: 180 payments of $8.18 per $1,000 borrowed based upon a 5.50% APR.
-Not available for RVs being used as a primary residence.
===============================================================
Alliant - http://www.alliantcreditunion.org/
-2.99 % 8 years term but other part of website says 20 year term options
-same day approval
===============================================================
-Essex Credit - https://www.essexcredit.com/
-3.85 APR starting at for $50k plus models
===============================================================
-Good Sam Finance Center - 800-444-1476, goodsamrvloans.com
-term up to 20 years on $50k plus models
-3.85 APR starting at for $50k plus models
===============================================================
-Sun Trust Bank - 800-279-4824, suntrust.com (another local bank in my area)
-loans up to $54,600 for towable RV
