Rv Financing
Rv Financing questions and answers
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Q: RV financing on a primary residence?
My credit is not perfect but I am working very very hard to improve it. I live in an rv park (so much cheaper than an apartment or a house) I need to get a different trailer. I may need to finance. Do you think that the lender will take into consideration I will be living full time in the rv instead of traveling in it? Thus being more lenient in financing terms. Thanks.
A: By letting them know it is your primary residence you are telling them you might be a flight risk and as such you stand less of a chance of getting a loan and if that gets listed the insurance will triple as RV insurance is based on it being used 2 weeks a year .
is it worth the risk ?
not for me it was not !
Q: I want to buy a used rv off ebay and i have no credit. Will the lenders through ebay financing loan me money?
I am 19 and have never had a credit card before i have 3,000 saved and am interested in getting a 10,000 dollar used rv to use as my home. I plan to live in one for the next few years instead of paying rent to live somewhere. I figure that it's better to own my living area rather than end up paying a lot to rent. I was looking for ones below 3,000 for what i could afford but noticed the monthly payments option through ebay. I just want to know if any lenders would loan me the money i need through ebay financing with having no credit? thanks to all that answer.
A: Its hard to say what your actual credit can acheive at this point. You do have some money to put down on it which helps, and it is something that they can take back, which helps. You may need to make a certain amount though...
there is only one way to tell... apply for the loan.
Q: If I were to purchase a RV or 5th Wheel with a friend, is there a way to split the financing?
I want to know if the dealer will finance half the cost to one persons name and the other half with the second person. It was just something I was thinking about without having a risk of the other person to make a late payment and it go on my credit report.
A: You can have your parents cosign the note and then you rent the trailer to him with some extra for the time he doesn't want to use it.The banks want a clear way to reposses the trailer if you don't pay back the loan.
Q: RV financing advice?
Looking to purchase a used or new RV, is it the same as buying a car?
A: Before you buy a used RV research the model and year of RV you are buying and find out what price it is bringing on the open market... Then nogotiate a price from that...RV Dealers are notorious for overpricing these Rigs because of easy financing and fast talking salesmen, NEVER buy a used RV without an extended warranty and road service Included (ex salesman I do know what I'm talking about) If you cant get what you want walk away..they will call you with a better deal tomorrow. at todays gas prices RV's aren't selling very well...So good deals are to be had. GOOD LUCK My Friend
Q: Can a VA Loan be used to finance an RV which you live in full time?
I am a veteran who has used the VA loan to purchase a house. Have sold the house and looking to live in an RV (Recreation Vehicle) full time. The RV will be my one and only residence.
A: An RV is considered personal property and would not be able to be secured (or mortgaged) like a home would. The VA will not grant a loan on this type of home. Sorry.
Q: Have you ever heard of it taking a week or 2 to get an RV loan?
We are trying to finance an RV. The finance guy told my hubby give it a week and he'd see what he can find finance wise for us. Shouldn't it be a yes or no thing? Sounds odd to me. Anyone?
A: It seems that financing an RV is more difficult than a passenger car. The lender has to consider what he would do if he would repossess the RV. It's obviously more difficult to sell it than a car, so the risk is more.
In today's difficult credit crunch, not many lenders are willing to risk loans on an RV because it's easy to walk away from it. Be prepared to pay a higher than normal interest rate.
I know of someone who got a HELOC (Home Equity Line Of Credit) to buy his RV, rather than financing it directly, but this was over two years ago.
Q: Where can I get a contract form 4 selling my RV to someone who will make payments for 1 yr & then purchase it?
My husband and I are selling our RV and found a buyer through our church but that doesn't mean that we want to just automatically trust him to make payments and then purchase it without some sort of contract that doesn't leave us high and dry if something happens. This fellow church member is honest and trustworthy enough for us to agree to a payment method, but he will also be taking possession of the RV while making payments. We are financing the RV through a bank and will not be able to pay it off until this buyer is financed and is able to give us the necessary remainder of money to pay off our contract and lien with our bank. Where should I look for the best form for this sort of transaction?
A: Go to microsoft works and type up your own contract (make several copies). Don't leave out any details. All copies should have everyone's signature. Make sure you have something specific in regards to what happens if the buyer is delinquint on payments. Also, make a copy of the purchaser's driver's license and photocopy it to the contract. I've done this before and it works great. In case he/she defaults on the payments, it's all in the contract.
Q: Has anyone ever taken over RV payment with bad credit?
I recently sold my RV, which I bought while I had good credit.
I settled many credit cards, and my credit sucks.
I know it will take a while to bring it back to par.
Is it common to take over a payment on an RV with bad credit?
Is it common for the owner to finance theirselves?
I use the RV's as a way of living.
I am into large rigs.
A: There are some sites that mention owner finance and easy credit.
The next thing they should say is not that easy and huge down payment required.
Your bank is your best bet.
Q: I financed an RV this year. However, I don't own my home. Can I deduct the interest on my taxes?
A: If the RV has a kitchen, toilet, and beds you could take a deduction for the interest if you itemize. It may not be advantageous to do so.
Q: I have land and I have an RV on it that we use for hunting there, can I deduct the interest on my taxes?
We are in the process of buying acreage and currently use it for hunting. We have an RV on it (has kitchenette, sleeping area, shower/toilet). We eventually plan on building something more permanent there, but not at the moment (and probably not within the next two years). Can we deduct the interest we are paying on our owner financed mortgage on the property from our federal income taxes?
A: It should qualify as a "second home" so you could deduct it. Even a boat with sleeping facilities, etc. qualifies, so your RV should be OK as a second home. You could deduct the interest and the property taxes on your Schedule A.
Q: anyone interested in selling a rv contact me!!!?
Hi i do no a very sucessful company that lists rv and financing is available for the buyers so contact me for details!!!
A: Why would anyone respond to this?? It is poorly written; there is no indication where the company is located; it looks sleazy. Plus there are approximately 456,131 RV brokers and dealers listed on the web. Beats me.
Q: *** how can i afford to take a cross-country RV trip ?
my wife and i are planning a trip from florida to california to minnesota to maine to ???????
we have saved some $$$$$$$$$ but need more.
how can i beg, borrow , steal or get some sponsorship to finance this trip ??
A: Prepare meals before you leave and put them in the fridge in your RV, it will save money on food.
This is a personal trip, you should not expect people to sponsor you.
If you need/want money, beg and borrow from family and friends.
Or, don't go on the trip until you can afford to finance it yourself.
Q: finance company for RV with license plate number 4wvc397?
A: try google and give them more info
Q: Buying an RV as a permanent residence in California during an active Chapter 13 BK?
I am currently in a Chapter 13 plan (since 4/05). I live in CA and have been a homeowner from 1998 till right before filing my Chapter 13 due to an expensive & litigious Divorce. Unfortunately, I am unable to afford a home based on real estate prices in California. I have restablished credit (below the $1000 threshold allowed) & my credit score is 600 which I've been told is very good for an active BK. In regards to taxes, I can no longer claim my kids and I've lost the homeowner's deduction, I would like to purchase an RV as a permanent residence. I have checked with an attorney and a tax advisor who both advise this is a smart move based on my income and tax bracket. The attorney advises that the Chapter 13 Trustee will, most likely, approve this purchase. My challenge is finding a lender that will lend me the money for the purchase that reports interest paid to the IRS. I am looking at a $35000 purchase including tax and fees. I have access to 401k funds for a 30% downpayment on a collateralized loan on a used RV. According to my tax advisor, interest paid on a primary residence (yes, even an RV) has no real limit, so I would be willing to pay up to 25% APR based on my finances and credit history. Any suggestions on lenders, alternative means of financing or am I just plain crazy...
In addition I have a free place to park. Includes all utilities free. Does anyone know any 'alternative' finance companies that report interest to the IRS? APR does not matter up to 25%. Based on my income and tax bracket this the best situation for me.
A: Sorry you're going through this issue. Your question caught my attention because I actually lived in an RV while going to college and living in South Orange County.
There are two ways of going about this. First, the way I tried was horrible and failed miserably. And that is to just live on the streets, move the RV from time to time and fill up on water and drain when you can. The major problem is of course, you become a number one target for the Police and people hate you. It's a very sick unsecure feeling to not have any place to 'call your own' and constantly feel like a criminal. (almost)
Second is to have or rent a place to park the thing permanantly. This would be a good option in my opinion. The only issue is one again cost. Renting a place in a RV park or even a mobile home park is extremly expensive, especially considering you don't get much and your neighborhood is about as bad as it gets.
Do you know anyone you would allow you park your RV at their house or business? If you do then you're really in luck and would probably work out great.
As far as the financing, are you bringing home a big salary? An APR of 15% plus is REALLY terrible. You'd need a pretty fat salary to have those kinds of tax writeoffs to even start to look tolerable.
If you have a place to park for cheap or free, go for it. If not, get yourself a cheap apartment and you'd feel way more comfortable and stable as an individual, and I'd bet you'd be a lot happier.
Q: Buy Gulf Stream RV from Private Owner?
Where can I buy a Gulf Stream RV from a private owner who can offer owner financing without a credit check? Thank you!
A: http://motors.search.ebay.com/?from=R40&satitle=Gulf+Stream