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
Just my thoughts...After trade-in, we financed $30k on our FW. We went through Credit Union and interest was the same on any RV note up to 15 years. We opted for the longest term for the following reason: I can make payments of any amount over the amount due at any given time and pay off early but if for some reason money is tight one month, my payment is lower. In the 11 months that I have owned my FW, I have made 11 double payments with no problem. If I continue this method, I will pay off in less than 1/2 the time because the 2nd payment is applied to the principal only. A financial advisor may say otherwise but it made sense to me to do it this way. We own a HVAC business and in Texas this is a very seasonal business. With that said, I was trying to be cautious with my funds and allow myself the ability to pay more or less with the seasons if necessary. My plan is to outright own the FW in 5-7 years. Unless un-foreseeable problems arise, I don't see the need to trade before then. We are vacationers...not full-timers and ours is kept under cover when not being used so it "should" hold up nicely for the time we plan to own it and still have a decent resale value when we are ready to get rid of it or trade it in. I may find out otherwise when the time comes but for now...that is my plan and. I am sticking to it!
