Community Forums

Born2RV · 03-14-2010, 04:30 PM

Our daughter and son-in-law are in the process of selling their cute little Fun Finder-X and are starting to look at used class C's. They really don't want to spend more than $12,000 or $14,000 and would need to finance it, but the motorhomes in that price range are about 15 to 18 years old. Where would they go about finding financing for a motorhome that old??? Is it possible? I called our local bank and they won't finance anything more than 5 years old.

RoyM · 03-14-2010, 05:39 PM

Call a broker. He/she will have a number of sources and usually can find the best deal available. If you are buying from a dealership the business manager will do this for you.

**NLOVNIT** · 03-14-2010, 05:40 PM

Credit union?

Lori-

TXiceman · 03-14-2010, 06:19 PM

Usually they will do a personal loan which is not totally secured by the motorhome. It is hard to finance one that old

Ken

HMXDave · 03-15-2010, 03:05 PM

The cheapest way to borrow money (in Canada anyways) is with a home equity line of credit. Interest is prime plus 1....so for us right now it is 3.25%. You can pay as much (or little...not recommended though, LOL) as you want whenever you want.

AFChap · 03-15-2010, 03:54 PM

Most dealers will have sources that are RV specialty lenders. They may very well be able to find better terms than you can through a bank or local credit union that will view an RV as a vehicle rather than as an RV. We found our lender through the dealer in 2003, and got a pretty good rate.