Travel Trailer Buying/Financing Questions
Hello all, this is my first post here. I’ve been lurking here a while looking for info on campers. I’m looking to buy a TT for the 2020 camping season and I’m trying to plan my finances accordingly....
Forum Discussion
Since you are looking at payments, one thing to consider. Years ago lenders used a method known as Rule of 78's This is outlawed for loans shorter than 61 months but is still used for longer terms by some lenders.
The trap in this loan is that if you try to pay it off early, you will find that you still owe all or most of the purchase price until deep into the term.
Dealers pushing 84 and even 120 month term loans frequently use this method, thats one great reason to go to your local bank or credit union if possible.
Good Luck
The trap in this loan is that if you try to pay it off early, you will find that you still owe all or most of the purchase price until deep into the term.
Dealers pushing 84 and even 120 month term loans frequently use this method, thats one great reason to go to your local bank or credit union if possible.
Good Luck
