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Old 03-06-2013, 01:58 PM   #1
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Legnth of term for financing?

What is the most popular term for financing today? With the rates under 5% seems the longer the more flexable .
Loan amount would be under $25,000.00
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Old 03-06-2013, 02:19 PM   #2
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I did mine for 10 yrs but at the rate i pay it will prob more like 6/7yrs.
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Old 03-06-2013, 02:19 PM   #3
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I would think the normal life expectancy of a TT is no more than 10 years.
Obviously, the shorter time you can afford to finance, the less charges you will incur.

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Old 03-06-2013, 03:02 PM   #4
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Not sure what the most popular is but the shorter term you can afford the better. If you take out a longer term, add some extra principal every month to the payment. Get that baby paid off ASAP IMO.
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Old 03-06-2013, 03:02 PM   #5
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I stretched the note as long as possible, 10 yrs at 4%, to keep flexibility but it will be paid off in less than 5. Simple interest loan with no prepayment penalty, so it made sense to me.
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Old 03-06-2013, 03:31 PM   #6
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Resale value for most RV's seems to drop like a rock. Unless its something with a cult following like Toyota Class C's or an Airstream you will be underwater on financing. I think the best bet is to buy used from a private seller, wave cash under their noses and play hardball with negotiations.

With reasonable care, an RV can last a long time. Our Toyota RV was 22 years old, but in great condition. It sold in 3 days for enough to buy our Jay Feather outright. I doubt we will be that lucky with selling the 25Z when the time comes, but at least we are not underwater on financing.
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Old 03-06-2013, 04:00 PM   #7
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Quote:
Originally Posted by TeamFoxy View Post
Resale value for most RV's seems to drop like a rock. Unless its something with a cult following like Toyota Class C's or an Airstream you will be underwater on financing. I think the best bet is to buy used from a private seller, wave cash under their noses and play hardball with negotiations.

With reasonable care, an RV can last a long time. Our Toyota RV was 22 years old, but in great condition. It sold in 3 days for enough to buy our Jay Feather outright. I doubt we will be that lucky with selling the 25Z when the time comes, but at least we are not underwater on financing.
X2

Some great deals on used.
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Old 03-08-2013, 09:33 AM   #8
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We got ours for 10 yrs with a 4% rate. I hope to have it paid off in 6-7 yrs.
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Old 03-08-2013, 06:13 PM   #9
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Financed mine for 10 years and paid off in 6 months.
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Old 03-11-2013, 03:10 PM   #10
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The lenght of the loan also depends on the amount financed and varies from bank to bank. The wife and I had a $16k loan approved with BOA at 4.73% for 12 years but got a better rate (4.2 something) thru the dealer. We financed $13k after putting up a down payment.. US Bank would only do 10 years since we borrowed less than $15k.
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