mkasner
Utah
Full Member
Joined: 04/15/2015
View Profile
Good Sam RV Club Member
 Offline
|
Anyone looked at RV loan rates lately! For 800+ credit scores 8% or more! Even through local credit union. Who is buying these over priced RVs with these rates?
Truck Camper - YouTube Channel
|
mbloof
Beaverton, OR
Senior Member
Joined: 11/27/2014
View Profile
Offline
|
mkasner wrote:Anyone looked at RV loan rates lately! For 800+ credit scores 8% or more! Even through local credit union. Who is buying these over priced RVs with these rates?
I guess folks with more $$ than you do and are paying cash.
- Mark0.
|
mkasner
Utah
Full Member
Joined: 04/15/2015
View Profile
Good Sam RV Club Member
Offline
|
mbloof wrote:mkasner wrote:Anyone looked at RV loan rates lately! For 800+ credit scores 8% or more! Even through local credit union. Who is buying these over priced RVs with these rates?
I guess folks with more $$ than you do and are paying cash.
- Mark0.
That appears to be the case because at almost 9% you got to wonder.
|
Buzzcut1
Norcal
Senior Member
Joined: 10/04/2010
View Profile
 Online
|
we bought a camper last year 10K trade in on our 16 year old Lance 1055 that we bought used for 20k so out of pocket cash we bought a loaded 2019 Lance 1062 in mint condition for 38k no payments no interest and we own it
2011 F350 6.7L Diesel 4x4 CrewCab longbed Dually, 2019 Lance 1062, Torqlift Talons, Fast Guns, upper and lower Stable Loads, Super Hitch, 48" Super Truss, Airlift loadlifter 5000 extreme airbags
|
camper19709
middletown,DE
Senior Member
Joined: 12/30/2010
View Profile
Offline
|
quoted 13.5% on a 2005 Monaco. also 800+ credit score. It all depends on the age of the RV too.
Chip
06 SurfSide
30ft class A
2 slides
Ford V10 chassis
04 Chevy Astro van toad
|
|
|
mkirsch
Rochester, NY
Senior Member
Joined: 04/09/2004
View Profile
|
mkasner wrote:Anyone looked at RV loan rates lately! For 800+ credit scores 8% or more! Even through local credit union. Who is buying these over priced RVs with these rates?
Most people only look at the monthly payment number, and the salespeople encourage it.
When the salesman starts pulling the, "It's only $X59 a month!" (pay no attention to the fact that you're paying sticker price and I'm giving you nothing for your trade) bit, they've lost me.
Putting 10-ply tires on half ton trucks since aught-four.
|
mellow
Salisbury, MD
Senior Member
Joined: 06/10/2014
View Profile
Offline
|
With loan terms on RVs going out to 20 years people see the low monthly payment and sign the papers. Most don't care about the % as long as it meets the monthly payment they can "afford".
2002 F-350 7.3 Lariat 4x4 DRW ZF6
2008 Lance 1191 - 220w of solar - Bring on the sun!
|
Grit dog
Black Diamond, WA
Senior Member
Joined: 05/06/2013
View Profile
Offline
|
Looks like cheap used upside down sellers in the future!
Was hoping for cheap this year but aint lookin like it yet. Recession is slow to get rolling, unfortunately…
2016 Ram 2500, MotorOps.ca EFIlive tuned, 5” turbo back, 6" lift on 37s
2017 Heartland Torque T29 - Sold.
Couple of Arctic Fox TCs - Sold
|
3 tons
NV.
Senior Member
Joined: 03/13/2009
View Profile
Offline
|
Lot of folks go the home equity route, but fighting excess money printing caused inflation requires a forced dampening of the economy, which leads to higher prices, which leads to less demand, which leads to the metric (per the economist Phillips Curve) of strategic unemployment…Lots of dynamics, but discretionary purchases are typically the first casualty…
3 tons
|
Rocky2
Ventura, Ca.
Senior Member
Joined: 01/14/2004
View Profile
Good Sam RV Club Member
|
My current RV offered an additional $5k off if I financed through them. When I read the contract, there was no prepayment penalty so I financed it for one payment and then paid it off. For the $170 interest I paid, I saved $5k off the selling price. It's not always about interest rates or monthly payments, it's what does it really cost.
|
|
|
