Financial Company?

[Stormy224]

Hi!

Curious if anyone know a good RV financial company that I can get a loan that buying a teardrop through a private seller?

Thanks!

[CCrew]

Is it a manufacturer built trailer or is it one someone fabricated? Reason I ask is that a NADA listed manufacturer that has a NADA book value listing pretty much any financial institution that makes auto or boat loans will finance. A private party built trailer however you're pretty much into the realm of unsecured personal loans if you need to finance. Most lenders won't touch something that they can't look up the value on to rate loan equity.

Keep in mind either scenario you'll need to have pretty decent credit as RV's like boats are considered "luxury" purchases.

[GerryS]

I know how easy it is to get into the "I want it...now" mindset. God knows I really am not one to speak. I know it's difficult....try to pay cash.

Really, borrowing for such a toy is a bad idea, unless perhaps you are looking at higher end its like T@B or a CampInn....but even then if I had a $300 a month payment, I'd probably enjoy ownership a LOT less.

It's also a lot more affordable to buy the parts and build your own. I want to buy a airstream Bambi or a Casita (I want a shower and head...shower houses don't thrill me after my last outing). There"s no way I can do that without a loan.

Instead, once I have a home to build out of, I'll be doing a cargo trailer conversion instead. I figure I'll save at least half AND I'll pay cash for the components as I need them.

My $.02 worth. Your experience may vary.

[aggie79]

I know how easy it is to get into the "I want it...now" mindset. God knows I really am not one to speak. I know it's difficult....try to pay cash.

Really, borrowing for such a toy is a bad idea, unless perhaps you are looking at higher end its like T@B or a CampInn....but even then if I had a $300 a month payment, I'd probably enjoy ownership a LOT less.

It's also a lot more affordable to buy the parts and build your own. My $.02 worth. Your experience may vary.

+1 on what Gerry said. I did enjoy the build experience, but I built instead of bought so I could pay for components as I had money. When I was finished, my teardrop was paid for and I didn't have to worry about another monthly payment.

I want to buy a airstream Bambi or a Casita (I want a shower and head...shower houses don't thrill me after my last outing). There"s no way I can do that without a loan. Instead, once I have a home to build out of, I'll be doing a cargo trailer conversion instead. I figure I'll save at least half AND I'll pay cash for the components as I need them.

Again, we're in the same boat. I'm hoping to do a CTC some day and saving for the CT now.

[Wolfpack]

^^ I agree. It is much more fulfilling to buy something outright and own it, than it is to get a loan and make repayments on it over a period of time.

If you can build your own, it's often much cheaper than buying a completed teardrop, or you could save the money to purchase one.

[GerryS]

We use ours as much as we can....I've been out 5-6 times this year. Just too rainy. We usually get about 20 night in it per season At 300 a month in payments (300x12)+(30*20)/20 is what...210 a night if you assume $30 for camping fees. That's a nice hotel.

Plus, not having a payment is incredible! Right now, we just have a student loan and a mortgage. I'm in a bad job situation, and if it goes sideways and I'm unemployed next month, we will still be OK. If I had a car, and a camper loan on top of that....this ship would sink.

I can't imagine not having a mortgage....but that day will come too. I know by watching my friends struggle to keep up with the jones, they may never feel that freedom. Just being where I am now, I sleep easier. My whole company is a little tenuous now, and talks I've had with colleagues are all the same...worry isn't worth it.

This level of freedom I have now is something I never would have thought could happen 15 years ago. I assumed we'd always have car and toy payments. We had to put a few things off for a while, and save. But it's worth it.

Debt is dumb, and cash is king.