RV Financing a Used Rig with Not so Good Credit?

wbwood, just noticed your post.. thanks. I sold the TC when I got here because it had some problems and I really wanted to move up to a tow behind but thought I would like Bend more than I do.. I am indeed debt free and after a debt ridden life, that does feel really good. Also, if I can live a few years doing the Quartzsite type 14 day deal blm camping, with my pensions & barring any immediate further financial catastrophe, I can easily stuff some cash in the mattress and move up to a nicer rig that way... My health conditions have been driving my life situations and until that changes, I must wait... Glad I have you guys to talk to... Thanks to all for being there... Have fun out there you lucky ducks!

There is one other possibility for me and that is as one post said, to work again. I am getting really good health care here in the Bend area. The system is not jammed up like it is in San Diego. We have just over 80K people here as opposed to some several million pushing and shoving souls in SD.
If I can get my body to work well enough again, I would be happy to work and then just as you say big down stroke or pay cash and start at the bottom again. Hey, if it doesn't leak and rolls down the road well. I'll be desert bound again.. I really miss it. No fun at all being cold!!!

Trade in your TC and get something used. If you will have money to make a payment. Save that up and then purchase something cheap when you get the funds. Then save up more and trade in the old or sell it and put the newly saved funds with it and get something nicer. And so forth. You say you are debt free. Why go backwards?

I think you will have some trouble finding financing that will be reasonable considering you lost your house not that long ago. A buddy of mine walked away from his house during the recession and less than two years later he financed a new truck. He got financing through the dealership with 14% interest because of his poor credit.

You will have a better chance getting reasonable financing if you have a large down payment, like 20%. Since you have a relationship with a bank already, you probably should try there.

-Michael

5rs are nice and large, but can be a bit more expensive than Travel Trailers, course it depends on the ones your looking at (there are a variety of prices out there). A benefit of the Travel Trailer is that once your in the trailer no more stairs. Just a thought, and the tanks are good size so would be a stop up from the TC.

Dog, yes I have health issues. Was forced to take early retirement at 65 from my 2 professional careers and would love nothing more than to go back to work.

I have heart attack -stent, COPD Chronic Bronchitis, (OSA) Sleep Apnea, torn bicip tendon in right arm, Artheritis in left shoulder and recently injured my right shoulder slipping on ice and waiting currently for MRI: will probably be rotator surgery.

If you are doing better than me, then count your lucky stars... thnx, Morgan

Are you too old to work or disabled?
Seems the easy answer if you can live off the $ you get now is to get a job, bank up the $ for the 5ver and then buy it. At least you have a "free" TC to live in now.
Do you pay for camp sites now? Guessing not if you're complIning about small tanks in the TC. If you get a 5ver, living off the grid by the river will be much tougher with a big rig.

Thanks to all who have responded on this string. This site really works!
At this point I'd like to respond and explain a little more about my situation and conditions. After loosing my home in San Diego last August I dicided to go full timing and set out in a TC. I quicky realized that while it suited my design for a guy with OCA Sleep Apnea in that there is nothing to back up or worry about in overall rig length, it was just way to small for even me and the dog. In addition, the tanks as everyone knows have a miniscule capacity which is an endless worry for full timing.

That all being said, I did do one thing very well and that is I cleared all debt and set about following the first rule of full timing in "no debt!" Now, my health in the area of sleep is much better and I am ready for a fiver which is what I really wanted to begin with..

As for acquiring the new rig and in response to some of your posts in the string, I have about 1500 a month in pensions and they are on automatic deposit. The way I see it is that I have so to speak "tested the waters" and full timing is for me but I would like something of a comfy domicile as well so this means financing since I am not a rich man with a savings account.
In my view, I am buying a new home (is where you park it) and would use the automatic payment banking system to pay for it.
My plan is to stay in AZ close to the river and not drive accross country so fuel should be low and for my income, "house payments" and the cost of Internet and communication with food should be no problem.. So I'll talk to the local Credit Union and get some ideas. I have a plan to be back out there by the end of summer so I can enjoy the southwest desert in the winter. I have time to do it right!

You could just work with a dealer. If they can't find a way to get you financed, they can't sell a unit, and they like to sell units. You may not like the terms, however.

There main concern is, you are in essence buying a second home on wheels. What would prevent you from just taking off with that trailer, and not making any more payments. RV trailers are hard to locate, as many members have had there unit stolen, but not recovered.
Hopefully your situation is not that dire,and you will find the right lender and trailer. Good luck.