Thinking of purchasing a 10 old MH and having difficulty finding a place that will finance a 10 year old MH and then the best rate I can find is 5.49. Anyone have any ideas about lower rates? Excellent Credit Thanks.Also what have your experiences been with PPL Motorhomes? I have had only parts experience and that has been great. But I am thinking of buying a MH from them and like additional input before I pull the trigger. Thanks again, Ed

A 10 year old MH can have very high repair bills. If you finance it and then find the engine needs rebuilt, how will you pay for that multiple thousand dollar cost? That is why lenders don't want to provide financing, they don't want to own a MH with a bad engine when the borrower stops making payments.Friends just bought a Holiday Rambler diesel pusher with low miles. In the first two months they have bought a water heater at $500, some sort of compressor that cost 3,000, a new inverter/charger for $800, and miscellaneous other items. Fortunately they paid cash and have the resources to pay for the repairs.Buying parts from PPL has been a good experience, they seem to be a company that is working hard at building a good reputation.

I don't think most places will finance a 10 year old RV. your local bank, if you have a good relationship there, is probably the only one who will finance somthing that old.

Have the money for repairs, just don't really want to take the money out of the stock mark and pay the taxes a large sum where as My RMD will cover the payments and then some. Plus my monthly income is more than enough for any repairs etc.

1ed wrote:Have the money for repairs, just don't really want to take the money out of the stock mark and pay the taxes a large sum where as My RMD will cover the payments and then some. Plus my monthly income is more than enough for any repairs etc.Will your brokerage work with you?

I didn't think of the Brokerage. Good PointThat is why I love this Forum...

Best Rate For Financing 10 year old RV | Good Sam Community

12 Replies

mowingman
Explorer
Jun 22, 2018
I don't think most places will finance a 10 year old RV. your local bank, if you have a good relationship there, is probably the only one who will finance somthing that old.
beemerphile1
Explorer
Jun 22, 2018
A 10 year old MH can have very high repair bills. If you finance it and then find the engine needs rebuilt, how will you pay for that multiple thousand dollar cost? That is why lenders don't want to provide financing, they don't want to own a MH with a bad engine when the borrower stops making payments.

Friends just bought a Holiday Rambler diesel pusher with low miles. In the first two months they have bought a water heater at $500, some sort of compressor that cost 3,000, a new inverter/charger for $800, and miscellaneous other items. Fortunately they paid cash and have the resources to pay for the repairs.

Buying parts from PPL has been a good experience, they seem to be a company that is working hard at building a good reputation.

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Best Rate For Financing 10 year old RV

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