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
Gdetrailer wrote:
There is NO such thing as a "trailer" (IE RV) being "valued" more than asking price.
I see your point. All I was saying is that not all lenders will do 100% financing and sure hope that a lender would not loan me 40K on my 27K trailer. My bank says they determine the value before lending. Not sure they actually do, though. We only financed about 60% of the asking (not MSRP) price so they never batted an eye.
From my bank's criteria specific to RV loans:
2 Loans and up to 100% financing subject to credit and eligible collateral. Total loan amount cannot exceed the determination of vehicle's value plus tax, title and license.
You're right, the dealers completely cover themselves by having this ambiguous MSRP so we (consumers) can show a lender the "great deal" we're getting.
