Rv financing question on loan amount?
Hi everyone I have another question?We were looking at a travel trailer in the 11k range and we are considering purchasing it.I was looking online and haven’t talked to any banks yet but I want to put...
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If this is a brand new camper you are considering, then working through your dealership will most likely provide positive results. However, if it is a used unit, more than 2 or 3 years old, you may not find any institution to lend the money. If you are searching institutions that "might" return positive results, then I'd start with the loan company that morgtaged my house, or my current automobile, or if I have no installment loans at the moment, the financial institution that financed my last car or truck.
Another option, if you own your home, you might consider a home loan line of credit, then you could own right out the camper without it being tied to a loan, but you'd have a loan against your house.
Another option, and definately NOT the best, probably the absolute worst, but it could be done ... a true credit card with a limit left enough on it to cover what your cash will not cover. But you may end up paying a horrid interest rate too! (I personally have not had a "credit card" in over 25 years, except one, and put a $25 charge on it once a year just to keep it active. This is an absolute...absolute...absolute last resort for emergency money).
Well, I suppose there is one option even lower than a credit card...The local mafia loan shark!.... :S
Do you have any rich relatives that still love you? Maybe Grandma?
Another option, if you own your home, you might consider a home loan line of credit, then you could own right out the camper without it being tied to a loan, but you'd have a loan against your house.
Another option, and definately NOT the best, probably the absolute worst, but it could be done ... a true credit card with a limit left enough on it to cover what your cash will not cover. But you may end up paying a horrid interest rate too! (I personally have not had a "credit card" in over 25 years, except one, and put a $25 charge on it once a year just to keep it active. This is an absolute...absolute...absolute last resort for emergency money).
Well, I suppose there is one option even lower than a credit card...The local mafia loan shark!.... :S
Do you have any rich relatives that still love you? Maybe Grandma?
