RV Financing..
New to purchasing and financing a rv.. Really would like 240 month financing, but no experience here.. Are banks doing it? Min down payment going this route or min dollar amount financed? Would...
Forum Discussion
georgelesley wrote:B.O. Plenty wrote:
In my opinion...financing $17,000 for a travel trailer with a 20 year term shows me you maybe can't afford it. It's very doubtful any lender will do this as the loan will always be upside down, the trailer will probably be a pile of dust before it's paid off. Nobody would want to stuck with this loan when you decide to quit making the payments. There wouldn't be anything left to for the bank to try and recover any losses.
B.O.
+1. If you ca't afford 5 yr financing on this small amount, how are you going to have the money for insurance, repairs, tax, title, tags, etc, and trip expenses when you use it? Not trying to be mean here, but buying an RV then watching it return to dust because of not enough money to actually use and maintain it is a loss for all concerned.
X2...that's less than most cars...for 20 years most banks require a minimum of a 50k...
