Who finances private party

frankdamp wrote:
Another alternative (which we used) was a home equity loan. No down payment, rates close to the mortgage and you get to have the title. We were lucky in that we had quite a lot of equity in the house, as we'd lived in it for 11 years.

If you do get an RV on an equity loan, be darn sure you have enough insurance w/deductible, to cover a loss.

Shaung wrote:
I'm looking to finance a 2009 5th wheel for $16k private party buy my credit union has a min of $20k.Do you know anyone who will do this loan?

Well there goes my suggestion. That's where I got mine financed was at my local credit union. Might other credit unions in your area?

If available to you, might look into a Home Equity Line of Credit.
We're at 1.99% 15 year max on revolving line thru credit union.

I just got a 401k loan for ours. Had the check in 2 days. Craig

Best to make a substantial down payment and finance the rest if needed to finance at all. To finance the entire amount would leave more owed on the unit than it is worth once it is titled and removed from the lot. You would be upside on the loan.

I'm not sur I understand.Are you saying wait and buy it cash?

Homer wrote:
If you need to borrow to buy the rig, "don't". The depreciation will put you under water immediately. Then there is all the ancillary equipment, tires, batt's, probably a hundred other items to be repaired or replaced.

I would recommend that you follow the advice given here from this very smart man.

Homer wrote:
If you need to borrow to buy the rig, "don't". The depreciation will put you under water immediately. Then there is all the ancillary equipment, tires, batt's, probably a hundred other items to be repaired or replaced.

are you saying don't finance a new one or an older one?

If you need to borrow to buy the rig, "don't". The depreciation will put you under water immediately. Then there is all the ancillary equipment, tires, batt's, probably a hundred other items to be repaired or replaced.

Loans*