How is interest applied on an RV loan?
When you take out a 10 year RV loan, is the interest spread out equally across all the payments or is it mostly paid up front like a home mortgage?
Forum Discussion
Generally the loan will amortize same as a home loan or auto loan. Every legit lender does a loan like this. Now if you go to some shark, pawn shop, or check cashing store to borrow money you could face about anything and it will be costly.
A google search should turn up an amortization worksheet. Put in the amount, term and interest rate and you should get the full schedule.
5 years into a 10 year loan you will still owe about 60%. You need a loan maybe same as you expect to own the RV or maybe another 2 years more at the most.
A google search should turn up an amortization worksheet. Put in the amount, term and interest rate and you should get the full schedule.
5 years into a 10 year loan you will still owe about 60%. You need a loan maybe same as you expect to own the RV or maybe another 2 years more at the most.
