Financing Rates These Days
My new F450 is going to (hopefully) begin production this Fall. Super Duty production is supposed to begin in October and my order was placed on day of the order banks this year. But we'll see. I h...
Forum Discussion
lawnspecialties wrote:Check with your bank or credit union. Otherwise the dealer will often be able to arrange the financing you need at a competitive rate.
I have enough saved up to either buy the truck outright or the toy hauler we plan to purchase. As bad as interest rates are, I'm guessing the truck will need to be financed versus the camper. Trucks are usually easier to get financed and rates are usually lower than an RV. But nothing is great these days and nothing can be considered "usually" anymore.
In the past, 4.99% has been our norm for campers. With that being said, what rates are people seeing on towables in late 2023? I'm almost afraid to hear the responses.
Truck will be lower rate but shorter term. RV probably a bit higher rate but longer term.
I would put 25% down on each and finance both. Keep the rest in a savings account. Can always pay them off or get a new lender if rates drop. In good times like today I also recommend making larger than minimum payment to the loan with the highest interest rate (probably the RV).
Interest on the RV could be second home tax deduction but that is rare these days unless the first home is very low cost.
