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!
jezzzmund t1_iy8omaz wrote
Reply to RV Financing - current interest rates by Longjumping-End-3892
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!