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
This comes up a lot. Folks don't want to pay out in rent so they decide they'll buy an RV. The logic is that it will somehow be better.
First, living in a small RV is not that comfortable. The space for cooking, personal hygiene and relaxing is far more limited and can be awkward. RV Parks that cater to year round stays are limited and are often located in bad areas.
Second, you also have to consider the additional costs: overnight fees, propane, water, electrical. Where are you going to park your rig? Are you going to depend on friends and family to let you park in their driveways? If so, are you going to pay them for the use of water and electrical? Are they zoned to let you stay there? If you'll be staying at an RV Park, have you determined which one? What are the rates? Do they allow year round stays or just seasonal? If you will be moving around, have you factored in fuel costs and such? Will you have a daily driver or just the RV? A class C will get only about 10mpg - are you prepared for that. If the RV will be your daily driver, you will need to unhook it from electrical and sewer everyday. You will need to be extra neat and keep everything put away for travel. Even with a trailer, you will be looking at 10mpg. A suburban won't get much more than that even when not towing.
Third, an RV does not have much insulation. It gets much colder in an RV than in an apartment. Winters can be uncomfortable at the least. And the cost for extra heating in winter can be more. In hot summers, an RV can be stifling. An 80 degree day can make an RV unbearably hot. AC can only be run when hooked into electrical power.
Fourth, buying an RV does not make better financial sense than renting. You are still throwing your money away. At the end, you will have an old beat up RV worth a few hundred dollars at most. RVs break down and have issues. With an apartment, the management/owner is required to fix things. With an RV, if the roof leaks, you will be paying to fix it. If the propane systems leaks, you will need to fix it before you can use it. If you stay outside of RV Parks, you will need to move your RV to dump stations to empty tanks. You will need to find access to fresh water to fill your tanks.
As you have absolutely no idea how to take out a loan, I am guessing you are young. Being young makes all of the above a bit easier - you have time to learn from life and an RV can give you that experience. But you still need to really figure out the practicals of living in an RV before you move forward with this plan.
First, living in a small RV is not that comfortable. The space for cooking, personal hygiene and relaxing is far more limited and can be awkward. RV Parks that cater to year round stays are limited and are often located in bad areas.
Second, you also have to consider the additional costs: overnight fees, propane, water, electrical. Where are you going to park your rig? Are you going to depend on friends and family to let you park in their driveways? If so, are you going to pay them for the use of water and electrical? Are they zoned to let you stay there? If you'll be staying at an RV Park, have you determined which one? What are the rates? Do they allow year round stays or just seasonal? If you will be moving around, have you factored in fuel costs and such? Will you have a daily driver or just the RV? A class C will get only about 10mpg - are you prepared for that. If the RV will be your daily driver, you will need to unhook it from electrical and sewer everyday. You will need to be extra neat and keep everything put away for travel. Even with a trailer, you will be looking at 10mpg. A suburban won't get much more than that even when not towing.
Third, an RV does not have much insulation. It gets much colder in an RV than in an apartment. Winters can be uncomfortable at the least. And the cost for extra heating in winter can be more. In hot summers, an RV can be stifling. An 80 degree day can make an RV unbearably hot. AC can only be run when hooked into electrical power.
Fourth, buying an RV does not make better financial sense than renting. You are still throwing your money away. At the end, you will have an old beat up RV worth a few hundred dollars at most. RVs break down and have issues. With an apartment, the management/owner is required to fix things. With an RV, if the roof leaks, you will be paying to fix it. If the propane systems leaks, you will need to fix it before you can use it. If you stay outside of RV Parks, you will need to move your RV to dump stations to empty tanks. You will need to find access to fresh water to fill your tanks.
As you have absolutely no idea how to take out a loan, I am guessing you are young. Being young makes all of the above a bit easier - you have time to learn from life and an RV can give you that experience. But you still need to really figure out the practicals of living in an RV before you move forward with this plan.
