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Old 06-25-2012, 10:45 PM   #1
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Can I finance a new RV while selling my old one?

We're in the process of buying a new Class C while selling our Pleasureway Sprinter camper van.

We were ready to make a deal on a new Class C today, but the dealer told us that banks won't finance two RV loans. Thus, we have to sell our camper van and pay off the old loan before getting the new one.

My wife and I both have credit scores that are 800+.

Are there any reputable finance companies that will allow you to have two RV loans at the same time?

Any suggestions for dealing with this?

Thanks!

Tom
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Old 06-25-2012, 10:54 PM   #2
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When we purchased our Class 'A', we still had our 31'Class 'C' winnie. So not only did we have the first loan, we managed to secure the loan for the new to us Class 'A'. However that was seveal years ago and money was easier to get.
Good luck and maybe shop around a little for some one that will loan you the money for our new toy.
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Old 06-25-2012, 11:33 PM   #3
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Tom,
That's like saying that a bank won't finance two cars or two houses at the same time.. Or two planes. It simply comes down to credit score and income.... Your credit score is great, so as long as you can show that you have income to afford both, I'd be shocked if you can't get a loan.

I could be wrong here, but I've never heard of such a thing..
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Old 06-25-2012, 11:41 PM   #4
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Hi and welcome to the forum.

Quote:
Originally Posted by cb1000rider View Post
Tom,
That's like saying that a bank won't finance two cars or two houses at the same time.. Or two planes. It simply comes down to credit score and income.... Your credit score is great, so as long as you can show that you have income to afford both, I'd be shocked if you can't get a loan.

I could be wrong here, but I've never heard of such a thing..
X2

I can't imagine why "banks" wouldn't lend you money for an RV with those credit scores... so long as your income supports the payments.

Best of luck.

Rick
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Old 06-26-2012, 05:00 AM   #5
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Is the "dealer" pushing his bank? Sounds like that might be the case and his bank may have that rule. Most others do not. Shop around....
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