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
Grit dog wrote:That's Because people don't know what the terms "simple interest" and "amortize" mean. That becomes readily apparent when you read some of these posts.
Huh, weird. Haven't taken a loan out on a rig in a while, but this came up recently on here and I said they were like car loans and mortgages and were amortized loans and like 10 people chimed in and said they were 100% simple interest, not amortized......
