Trying to finance a Travel Trailer under 10k for 144 mths.

$10,000 @ 6% for 144 months will cost you $4,052 in interest. Cost per month will be $98.

Just let the dealer do it. We financed our first TT for 12 years, and paid it off in 7. Did this one for 12 as well. Just because you finance it for 12 does not mean you have to take that long. It just means that if you need to, you can make a lower payment sometimes. Like If you get laid off or something big comes up.

I'll lend you $9,000.00 for 144 months at the lowlow rate of only one per cent. And to sweeten the deal, I'll even let the interest be compounded daily. This is what is known as "simple interest" because one day is so much less than one month, and what could be simpler than that? :)

ed6713 wrote:
With such a long term loan you will be upside down for at least 5 years.
TT's depreciate really fast.
If you get the loan, and I hope you do, plan on keeping it forever.

Ed

How do you know he isn't putting $10K down on a $19K trailer?

With such a long term loan you will be upside down for at least 5 years.
TT's depreciate really fast.
If you get the loan, and I hope you do, plan on keeping it forever.

Ed

I found just the opposite back in '06 when we bought our ROO. My credit union wanted a large down, short term, higher interest. They were great when we financed our vehicles, but weren't at all competitive on RVs. The dealer handled financing on both our HTT and TT (RVW) and we got an excellent rate. You might want to see if your bank would be interested in either just a signature loan or a home improvement loan, aka "a second". Buying new you tend to get a better rate and longer period, but you should be able to find something reasonable. Good luck.

haste maker wrote:
Credit unions will loan more money for longer periods of time, with a lower interest rate than most anyone else.

This

Credit unions will loan more money for longer periods of time, with a lower interest rate than most anyone else.

Borrow ten.....give me $1000.00........easy!

On a serious note.........a twelve year loan ? your interest be as much as the cost of theTT?

AntonB wrote:
Trying to find a bank to finance around $9000 longer than 60 months. Like 144 or something.any suggestions? Any trying to be funny comments will be replied to with swiftness!!!!!!!LOL

Dealers should be able to find a source. I know of a person that got 6% for 84 months but had to borrow 10K. It was from a Credit union.