Financing an RV
I am workign with a dealer on trying to find the right RV but do not understand how this Trade Difference line works. This is the quote they worked up. The trade in is for an SUV we have that has 17...
Forum Discussion
FloridaKash wrote:
I am workign with a dealer on trying to find the right RV but do not understand how this Trade Difference line works. This is the quote they worked up. The trade in is for an SUV we have that has 17.5K on the loan and is about $5K upside down.
Vehicle Price - $74,547.00
Options - N/A
Retail Discount - $9,657.00
Customer Price - $64,890.00
Trade Allowance - $18,000
Trade Difference - $46,890
Estimates Payment Option
$6,000 Down - 180 Months - APR 5.99% - Payment $524.33
When I go to a finance calculator a $524.33 payment at these terms is $62,135.62 financed. How did they possibly get to that number using the data I am providing?
As another reply stated, you should see a discount from MSRP between 25%-30%.
I have also read that trailers decrease in value about $5,000 a year. Financing something that goes down in value so rapidly is a tough game to play.
