Go Back   iRV2 Forums > iRV2.com COMMUNITY FORUMS > iRV2.com General Discussion
Click Here to Login
Join iRV2 Today

Mission Statement: Supporting thoughtful exchange of knowledge, values and experience among RV enthusiasts.
Reply
  This discussion is proudly sponsored by:
Please support our sponsors and let them know you heard about their products on iRV2
 
Thread Tools Search this Thread Display Modes
 
Old 02-10-2010, 09:42 AM   #1
Member
 
Drop In's Avatar
 
Join Date: Dec 2009
Posts: 43
Model age restrictions for financing

I am doing my preliminary research as I am planning to buy a used coach this summer and have noticied that certain banks will not finance anything over 4 yrs old and others 10 yrs old. Has this always been the case or just since the credit tightening? I plan to purchase something around 5 yrs old so the intial financing is not a concern but I am concerned that in 5 yrs my rig will be 10 yrs old and if I chose to sell it, I would be limited to cash buyers only? Is this a legitimate concern?
__________________

__________________
Drop In is offline   Reply With Quote
Join the #1 RV Forum Today - It's Totally Free!

iRV2.com RV Community - Are you about to start a new improvement on your RV or need some help with some maintenance? Do you need advice on what products to buy? Or maybe you can give others some advice? No matter where you fit in you'll find that iRV2 is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with other RV owners, see fewer ads, upload photographs, create an RV blog, send private messages and so much, much more!

Old 02-10-2010, 03:19 PM   #2
Senior Member
 
gasser 38's Avatar
 
Damon Owners Club
Ford Super Duty Owner
Join Date: Jan 2010
Posts: 374
Yes it is but a lot of people go the home equity route buyers tend to be older and have equity in the home as well as it usually is a better rate and tax deductible.
But in todays credit world everything is a concern, this is also why you see a lot of people selling through consignment. How ever I would not let that stop me as long as you are comfortable with the purchase.
__________________

__________________
gasser 38 is offline   Reply With Quote
Old 02-10-2010, 05:46 PM   #3
paz
Senior Member
 
paz's Avatar
 
Join Date: May 2005
Location: Full-timers - Home is where we park it.
Posts: 4,716
A home equity loan may come at a better interest rate, but the interest on a regular RV loan should also be tax deductible in most cases. As long as you don't already have a second home, and as long as the RV is fully self-contained (cooking, sleeping, and bathroom accommodations), the RV is considered to be a second home and the interest is also usually deductible.
__________________
2015 DRV Tradition 375KPS
2015 Chevy Duramax 3500HD LTZ Dually
Full-timers...Home is where we park it.
Check out our blog: Living Our Dream
paz is offline   Reply With Quote
Old 02-12-2010, 10:37 AM   #4
Moderator Emeritus
 
Gary RVRoamer's Avatar


 
Join Date: Jan 2000
Location: Silver Springs, FL. USA
Posts: 18,060
Age limitations on RV financing have pretty much always been the case, though it is possible that some banks are now opting for lower age limits as part of a general tightening up of credit. You will find all kinds of credit policies today and it is impossible to predict what policies will be in effect 5+ years from now. However, it is probably always going to be easier to finance a 5 year old rig than a 10 year old one. Better terms, if nothing else.
__________________
Gary Brinck
Former owner of 2004 American Tradition
Home is in the Ocala Nat'l Forest near Ocala, FL
Summers in Black Mountain, NC
Gary RVRoamer is offline   Reply With Quote
Old 02-12-2010, 11:27 AM   #5
Member
 
Drop In's Avatar
 
Join Date: Dec 2009
Posts: 43
I hear ya - i am just concerned with owning 10 yr old coach (buy a 5yr old and paying off in 5 yrs) that is not liquid..
__________________
Drop In is offline   Reply With Quote
Reply



Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Brochures for early model Winnebagos smlranger Winnebago Industries Owner's Forum 16 08-19-2017 07:56 PM
Archived Model Info Greg121 Tiffin Motorhomes Owners Forum 1 08-24-2011 07:26 AM
Model 30B with a wet basement compartment - Help BubbaJePH Winnebago Industries Owner's Forum 5 01-26-2010 07:58 PM
Which model do I have? johnnydurok Newmar Owner's Forum 2 01-05-2010 11:26 AM
Anyone know what model this rv is? Wes Magyar Vintage RV's 1 07-10-2009 06:17 AM

» Virginia Campgrounds

Reviews provided by


Copyright 2002- Social Knowledge, LLC All Rights Reserved.

All times are GMT -6. The time now is 10:28 PM.


Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.