How to get a loan for RV
Looking at all the forums, none are a perfect fit so will ask here, my apologies if not the best sub-forum. Trying to figure out how much I can get in a loan. I need some help with loan basics as ...
Forum Discussion
toedtoes wrote:
Credit unions will usually have the best rates. New RVs are pretty easy to finance, but used ones can be much harder to finance (RV loans usually have an age restriction). If buying used, you may have to get a personal loan or equity loan.
With all that, really think about financing an RV. It's rarely a good move as the RV depreciates and you'll be underwater for most of the loan life.
I have zero debt load of any kind, CC included. But also zero assets.
I can buy new if I have to. I do not own any real estate or have any notes or anything, own my car. Thus can afford between 1000-2000/month. I want a 3 to 5 year loan. I don't mind a nice used unit. Since I will turn a nice new unit into a used one pretty quickly.
A 5 year old class B or a class C.
My alternative is rent at the moment. It's very expensive in DC area and it's a total waste of money. I am aware of the fact a new RV will take a giant hit in the first few years but it seems a lesser evil than blowing away at least 20K annually in rent with no light at the end of the tunnel.
I need the very basics of getting a loan. What is a credit union, where do I find one, what documents do they need? I am in Northern VA if that makes any difference.
