About to purchase- Finance questions
Hey all, I have a downpayment on a new travel trailer and just sold my pop up last night. Thursday I will go to sign papers. They were touting 4.99% finance rates until I got the deal. Then it ju...
Forum Discussion
tragusa3 wrote:
I haven't had a credit card in almost 20 years (unless my debit card counts)...credit score was 820 when they pulled it for our trailer this year. I'm not sure of the complete formula, but closing or not using credit hasn't affected mine.
According to everyone in this post, that's impossible lol. Like I said, show me one person with a poor credit score that it went down because they closed off some credit cards. Old wives tale. Not only do they look at debt to open credit, they also look at open credit as potential credit which can be just as bad.
At any rate, today I got my check from the credit union. Decided to go with 60 months @ the 4.24% rate. Had I been with them 5 years they would had knocked another .25. Another .25 of I was at 7.20 score. The said I could refinance no cost if I wanted that extra .25 in a couple months.
Had I met those 2 options, it would had been 3.74%
The initial point of this post was to see if 5.99% was high for an rv loan. It was. Thanks for those who had helpful input. I now have an extra $800 in my pocket.
