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Old 12-29-2014, 02:33 PM   #1
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Interest Rates

I know that there are a lot of variables, but what kind of financing should one expect to get when purchasing a new trailer? The number I have received from two dealers is 5.5% for 10 years. Our credit scores are in the 800's. Does this seam reasonable for a trailer? Total out the door price is around $24,500. I am used to buying cars and a lot lower interest rates... Any suggestions on how to get a better rate? Thanks.

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Old 12-29-2014, 02:36 PM   #2
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Yes, that sounds about right, its the longer term causing the rate, not your credit.
Ours is on 12 yr loan at 5.5% also. The only way I know to get a better rate is to go for a shorter term.

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Old 12-29-2014, 02:42 PM   #3
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The dealer really wanted our fifth wheel gone when we bought it. We got the loan for bank rate....the dealer didn't mark it up a bit. 3.99% for 15 years.
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Old 12-29-2014, 03:02 PM   #4
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Check out Good Sam rates.


That is what we did and were prequalified for the purchase for a different unit and then we saw our unit which price was less. It was the lowest interest rate at the time. The dealer matched the rate and terms with a local bank. So we are both happy campers.
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Old 12-29-2014, 03:24 PM   #5
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Our credit union is 1.74% right now. We just bought a new boat. Dealer wanted 4.99 % so we went with our credit union.
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Old 12-29-2014, 03:30 PM   #6
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It all depends on how much you finance also.My trailers was 32k,if I put the 3% down they ask for I kept 4% intrest rate.I wanted to put 15k down and finance less but would have had 5.25% intrest.So I put less down and made my first payment as normal but for extra principal paid the 15k on the trailer at the lower intrest rate.Our credit was extremely good and that's the rates we were given.My credit union was 6%
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Old 12-29-2014, 03:34 PM   #7
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I was able to get 3.99 for 12 years down and my credit is ok but not as good as yours. but I was thru a credit union I would shop it. With a 800 credit score you should be under 5.99

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Old 12-29-2014, 03:35 PM   #8
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Last rig we financed for 5 years @ 5.5%. We paid it off in 3 years.
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Old 12-29-2014, 03:49 PM   #9
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We just purchased our 24FBS in September. 5 yrs at 4.25%. When the fed starts to raise interest rates, I'm guessing you'll see that same term for about 6%?

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Old 12-29-2014, 03:56 PM   #10
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Calculate the amount to pay over-principle to adjust your rate to whatever you want it to be. Of course the lower you start out the eaiser to get to your goal but the idea remains the same.

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