Rv financing
Hello fellow campers. We would like to get into a newer TT .Low creidit score is stopping us to get a loan.Does anyone know were to get a loan with a low fico score?thanks for the help
Forum Discussion
A low credit score means you have had problems with credit in the past. You will have enough trouble getting loans for necessities such as housing and cars. A recreational loan will be out of the question for any reputable lender. What you will be left with is the sharks. That would be a dealer who will offer to finance you if you overpay for the rig and pay a high interest rate. A sub-prime lender who will finance you for a high interest rate if you have a lot of excess collateral in the deal such as making a very large down payment or securing the RV loan with a lien against other valuable property. And of course, the true loan shark who will loan you money at a high interest rate and use your knees as additional collateral. Your best option is to save up and pay cash, after you have taken care of all the credit issues that got you that low credit score in the first place.
