Rv loan rates!
Anyone looked at RV loan rates lately! For 800+ credit scores 8% or more! Even through local credit union. Who is buying these over priced RVs with these rates?
Forum Discussion
deltabravo wrote:
Here's the current rates for a credit union I use in Washington:
APR* Loan Amount** Max Term (months) Vehicle Age
6.99% No Minimum 60 2019+
7.74% No Minimum 84 2019+
8.24% $25,000+ 120 2019+
8.49% $50,000+ 180 2019+
THere's NO WAY I'd finance an RV purchase at today's HIGH RV prices combined with the high interest rates.
I understand the feeling, BUT
For the past decade and more interest rates (an inflation) have been very low. Now that they are going up interest rates are still at or below the historical averages. If you don't have the money and want that car, RV or house, then there is little choice but to pay the rates. On the plus side, we are seeing lots of inflation so the amount we finance and spend to buy something now is likely to be much less than if we wait.
