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jezzzmund t1_iy8omaz wrote

Can I offer you an alternative to financing that can still leave you owning an RV? Don’t buy new. Don’t buy from a dealer at all. The markup is bad and the rates will be horrible and you probably won’t be approved anyway..

Coming from experience I will give you my advice. Buy a used RV. Facebook marketplace. Buy one that’s from the 2000-2010 year model used. You can get a decent RV between 5-10k and get something pretty good for 10-15k. You could save up for a year really good and get most of your payment then go to your bank and apply for a smaller personal loan for the remainder. Think under 5k for the loan. That way your interest rate is reasonable and you aren’t paying upwards of $400 a month, rather maybe like $150 a month. That’s exactly what I did on less income. You can do it, but it won’t be something you do tomorrow.

This kind of decision could leave you reeling in debt. There are other ways of getting what you want, but you may have to change your route to get there. Stop expecting that you are going to own a new RV and accept that used is your option here. Please I am urging you to consider this approach as you don’t have the financials to afford a loan the size you’re looking for, no offense whatsoever. I am in a similar position as you and I am on my 3rd RV!

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rrickitickitavi t1_iy8ryu4 wrote

This is the correct advice. Buy used. Let the massive depreciation work in your favor instead of hitting you in the teeth.

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rollingthestoned t1_iy8swrh wrote

I’ve had a few different RVs and going used is a good way to go. There are some really great deals and very well kept units out there. People buy them and realize it’s a lifestyle choice and don’t use them nearly as much as they think they will. There was a big jump in RV sales during the pandemic and some of the best used units in years are starting to appear on the market. The cost of campsites is pretty high right now so also make sure you understand the cost for the places you may want to go.

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RelishMule t1_iy92dxx wrote

> The cost of campsites is pretty high right now so also make sure you understand the cost for the places you may want to go.

Ya, this is always shocking to me. Can literally get an airb&b or hotel room for the rates of a lot of sites these days.

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Longjumping-End-3892 OP t1_iy8xgqq wrote

Thank you for replying in a civil manner and providing meaningful advise. I am looking at a 2005 Seabreeze Lx. I would never go near a dealer…they are predatory. I was aiming for an RV payment between 350-400, but based on my research it appeared to be closer to 475 with my current specs. Hence my question.

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Werewolfdad t1_iy8zpfd wrote

Just because you don’t like the advice doesn’t mean it’s not meaningful or civil

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Longjumping-End-3892 OP t1_iy913rw wrote

I asked a specific question. I did not ask to be patronized with assumptions about poor financial management. Good day.

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20-20beachboy t1_iy946il wrote

You realize you are on a personal finance subreddit?

Go to a RV subreddit if you don’t to be told this is a bad financial decision.

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Longjumping-End-3892 OP t1_iy966ob wrote

Hardly a single person has yet to actually answer the question. The answer might be 15%, 20%, or “I don’t know” %. But the answer does not involve opinions on what is a good decision or making assumptions about my financial plans.

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RelishMule t1_iy91opb wrote

> patronized with assumptions about poor financial management.

Don't need to make assumptions. You provided the context.

> financing $35,000 with a credit score of 675 and annual income of $64k? My DTI is 40% currently

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Vast_Agency_133 t1_iy92x7j wrote

And its a 17 year old RV to boot.

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RelishMule t1_iy932x2 wrote

Good lord. "Priced to move!". Got to jump on those ASAP, deals like that don't come along that often!

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