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Old 01-01-2015, 07:51 PM   #15
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2 things. First, I think you might need a new or different banker. If you're working with a younger person, they may not have the experience required when working with somebody that's retired.

2nd, banks are not going to finance anything over about 5-7 years old while using the coach as collateral. That's one of the bigger reasons coaches older than that are such great deals - not just anyone can get a loan on them - pretty much leaving cash buyers as the only qualified buyers.
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Old 01-01-2015, 08:55 PM   #16
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Originally Posted by ahicks View Post
2 things. First, I think you might need a new or different banker. If you're working with a younger person, they may not have the experience required when working with somebody that's retired.

2nd, banks are not going to finance anything over about 5-7 years old while using the coach as collateral. That's one of the bigger reasons coaches older than that are such great deals - not just anyone can get a loan on them - pretty much leaving cash buyers as the only qualified buyers.
I don't want a MH, I want a travel trailer to pull with my truck. I want new, but cheap and I like the FR X-lite 231rbxl, so I'm not looking at borrowing a lot of money and once some property is sold, I can pay it off. Initially I was planning to buy after the sale, but it's not selling.
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Old 01-02-2015, 02:23 AM   #17
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Find a new banker or go through the dealer you are purchasing it from as they will know what to do. With good credit and it being a relatively inexpensive TT, they won't even ask for proof of income. Like I said before, state your income from all assets and sources you pull from and put retired for occupation and it will fly right through. What another posted that banks are not lending is just not true. The flood gates are back open.
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Old 01-02-2015, 12:09 PM   #18
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Find a new banker or go through the dealer you are purchasing it from as they will know what to do. With good credit and it being a relatively inexpensive TT, they won't even ask for proof of income. Like I said before, state your income from all assets and sources you pull from and put retired for occupation and it will fly right through. What another posted that banks are not lending is just not true. The flood gates are back open.
thanks! I've seen ads from dealers with 4.99% interest and that would be great. I've called Camping World and when I ask about my situation, they don't ever call me back. I'm gonna try your strategy and see how that works.

LOL, you said what I wanted was "relatively inexpensive," but my sister calls any trailer that I want "cheap" and something she wouldn't have. But they all said the same thing about my little house, but I had it built and by the grace of God, I've still got a roof over my head. I don't have to have the best and I can't afford the best, but I can be happy and content with what I do have because there are people with a whole lot less.
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Old 01-02-2015, 12:14 PM   #19
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I checked and they didn't go 10-12 years with a low rate. They did have a low rate for a short term loan though.
They went 20 yrs. for our new rig.
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Old 01-02-2015, 12:42 PM   #20
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They went 20 yrs. for our new rig.
that's not a TT, that's a yacht on wheels!
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Old 01-02-2015, 03:34 PM   #21
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I filled out a credit application and submitted it and put RETIRED and a monthly distribution amount. Hopefully I'll get approved. Thanks
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Old 01-02-2015, 08:39 PM   #22
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this waiting is nerve wracking. Years back I bought new cars that costs more than this trailer and got mortgages, but I was working at the time. I forgot I had an unsecured loan and hope that doesn't make a difference. I sure don't want to have to wait on the real estate market to get a camper.
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