Forum Discussion

lawnspecialties's avatar
Aug 10, 2023

Financing Rates These Days

My new F450 is going to (hopefully) begin production this Fall. Super Duty production is supposed to begin in October and my order was placed on day of the order banks this year. But we'll see.

I have enough saved up to either buy the truck outright or the toy hauler we plan to purchase. As bad as interest rates are, I'm guessing the truck will need to be financed versus the camper. Trucks are usually easier to get financed and rates are usually lower than an RV. But nothing is great these days and nothing can be considered "usually" anymore.

In the past, 4.99% has been our norm for campers. With that being said, what rates are people seeing on towables in late 2023? I'm almost afraid to hear the responses.
  • I guess this type of stuff is hard to look up on the same internet one uses to access this forum, so I did it for you.
    The credit Union we used to use for loans says 6.5% on RVs and 5.75% on vehicles.
    But your credit may vary, so this is a silly question. We don’t know your overall creditworthiness.
  • Our friend financed a used 2018 TT end of June & she was poked for 9.75 . She was going to get a better rate at her CU but let them know she was going to live in it for a few years at a job out of state. They wouldn't finance full time RV's.
    In this current market I would finance the 450 & not the rv. The 450 would be way easier to sale if needed than the toyhauler IMO. I would carry the notes on both for a simple 20% down, 20% interest, for 5 years ??
  • In Canada, interest rates are set by the Bank of Canada which is completely independent from the federal government (at least it's supposed to be).

    USA is similar.

    I don't think anyone will finance a towable in Canada. It may be different for a drivable - I really haven't looked into that.

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