[Lothos]

I was wondering if I could pick a few brains on the tidbits behind RV financing. good, bad, and ugly. places to avoid, stuff like that.

Things I'm seeing:

85% max financing for rv
15 year max term for 50-99k and possibly shorter for under 50k range.
6.99-8.99% interest fixed

My credit is in the high good category. So, i think its merely finding terms I can agree to. Hoping to pre-qualify before serious window shopping begins.

 

[Lothos]

Something else I thought of and have no clue on. Insurance for RV's?

 

[Grandman]

Stop actling like an American . Save your money and pay cash . I have allways saved a ton of money by doing that . 1st off why pay thousands in interest , next you can get a hell of a lot better deal paying cash .

Took me 12 years to save the money for this house , if i would have bought then and paid payments id of had a 30 year mortgage .

WAKE UP man .

That is all :gman:

 

[PeteC]

Can't talk to the financing as it has been a while since we set ours up.

As far as the insurance, find a company that specializes in RV's. We use Foremost. We have found them to be cheaper than pretty much anybody and they do understand the complications and special needs of RV owners.

 

[Lothos]

Can't talk to the financing as it has been a while since we set ours up.

As far as the insurance, find a company that specializes in RV's. We use Foremost. We have found them to be cheaper than pretty much anybody and they do understand the complications and special needs of RV owners.

how much is cheap? is it equivalent to homeowners insurance?

 

[JEEPR]

Insurance will depend on if your RV has a motor.

Travel trailer insurance is cheap. I think ours is like 350 a year for full coverage.

 

[Lothos]

Insurance will depend on if your RV has a motor.

Travel trailer insurance is cheap. I think ours is like 350 a year for full coverage.

this will be a class C/B. Can't haul a jeep with a trailer.

 

[Grandman]

yes motor how ins is cheap , they all ready know they wont see many miles .

I too forget what ours was but it was cheap per year .

 

[Tonka]

Stop acting like an American . Save your money and pay cash . I have always saved a ton of money by doing that . 1st off why pay thousands in interest , next you can get a hell of a lot better deal paying cash .

Took me 12 years to save the money for this house , if i would have bought then and paid payments id of had a 30 year mortgage .

WAKE UP man .

That is all :gman:

Financing sucks. I agree with Marv. If you can hold off a however many years, and invest wisely, you can turn those thousands saved into even more money.

I wish I had learned that much earlier in life.

I had to have what I wanted, and payed way to much for it.

hell, I'm still payin for it

 

[Shotgun]

Im currently trying to teach my wife the same concept of saving for stuff. I want to get her to listen to Dave Ramsey so in like 1million years we can yell WERE DEBT FREE, minus the trail rig:tonka:

 

[bizjak]

On insurance have to agree with Pete...we use Foremost as well and have been happy. We have a travel trailer though so the insurance is pretty cheap.

On financing I agree with the others on its best to pay up front...we did not so take it for what it is worth.

We set up a 10 year term at like 7.75% interest. We put 20% down. We are financed through Citizens bank here in MI. Dont know what else to tell you except it was fairly pain free...easier than buying a car generally at least for us.

 

[Tonka]

Im currently trying to teach my wife the same concept of saving for stuff. I want to get her to listen to Dave Ramsey so in like 1million years we can yell WERE DEBT FREE, minus the trail rig:tonka:

I'm getting close.
Both of my Jeeps are paid for (paid cash for both)
I owe for some of my work tools (mechanic), medical bills, and about $6k in student loans. (roughly $10,000 total)

at $100 in interest per month, I'm not doing too bad (compared to the average American), and I always pay more than I have to per month to try and knock down the interest.

That $100/ month could be making me more money

 

[KimbaJo]

We just bought a new 5th wheel last week and got 7.4% for 180 months. We went through Fifth Third Bank and they would finance 100%. We had financing through Detroit Edison Credit Union but the RV place found it for about the same.

Our insurance company for everything is USAA so we went with them for about $22 bucks a month for full coverage.

And don't forget that the interest is tax deductible like a mortgage.

 

[Brian81CJ]

yes motor how ins is cheap , they all ready know they wont see many miles .

I too forget what ours was but it was cheap per year .

Cheep?? Mine is about $1100/year. And unlike travel trailer insurance, you can't drop collision over the winter months...

 

[PeteC]

I know we pay over a grand a year for our insurance. Might be a little less since the value has been re-adjusted. But then we have this:

 

[Fatty Matty]

I'd be more inclined to buy used and pay cash. Like a few years old. With the economy trashed like it is, people are almost giving their stuff away to try to stay afloat and save their credit. Those things take a huge hit on depreciation in a short time, I'd imagine you could save a boatload of cash that way.

 

[Yetti]

I would suggest talking to a couple of folks about the choice of RV your after. since you plan on using it as a tow rig. you might find the rigs size and cost more then you want to marry into.

http://www.lloydbridgestraveland.com/

Talk to Don Tibidue, he can steer you in the right direction on a bigger unit.

http://www.hwmotorhomes.com/

Talk to Jeff he owns the place.

 

[PeteC]

I would suggest talking to a couple of folks about the choice of RV your after. since you plan on using it as a tow rig. you might find the rigs size and cost more then you want to marry into.

http://www.lloydbridgestraveland.com/

Talk to Don Tibidue, he can steer you in the right direction on a bigger unit.

http://www.hwmotorhomes.com/

Talk to Jeff he owns the place.

I agree you need to do plenty of research. Some C and B class rigs may not be rated to tow much at all.

 

[bj house]

duh http://www.greatlakes4x4.com/showthread.php?t=52783

cash and no insurance needed :thumb:

 

[Lothos]

I agree you need to do plenty of research. Some C and B class rigs may not be rated to tow much at all.

Pete, you should know I've been researching this a few years now. And I'm not really looking at anything newer than probably 2005 unless its an irresistible deal.