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
The formula I used to pay it off is to double the principal payment on every payment.
I use a similar formula but use a set amount, i.e. $50-$100 or whatever I can. Double payments will also help. Using this method my son paid off an 8 year student loan in 2.5 years (with a little help from mom and dad).
I use a similar formula but use a set amount, i.e. $50-$100 or whatever I can. Double payments will also help. Using this method my son paid off an 8 year student loan in 2.5 years (with a little help from mom and dad).
