How does RV financing work?

[matt167]

Be careful with a “construction to permanent “ type loan. Many have restrictions as to how you can use the property. Specifically the use of a camper.

We would honestly probably drop a shed house conversion on the land and call it good

 

[redneck joe]

We would honestly probably drop a shed house conversion on the land and call it good

good idea. if you did end up building a house as well then you have a airbnb property for extra income.

 

[airshot]

My fiancé and i are getting married in July. Considering parking a camper somewhere for a while rather than renting or buying a place until we find the right one and the markets settle. How does financing a camper actually work. I have pretty good credit and when I checked rates through lending tree the interest rates are in the stupid category. I can afford it but it didn’t make sense. I have not even stepped on a dealer lot yet. With our wedding expenses I can’t afford much more than cousin Eddie’s camper outright and she wants to get a nice one anyway. Well I’d probably put $5k down anyway. Where should I be looking?

Should be looking at other ideas....RV's unless newer models are horrible on depreciation and hard to resell. Just like a boat, they are holes in which you pour money!
With interest rates high like they are, you will need an awesome credit score to get bearable payments, even then you will loose money big time. If you stay in cold weather, they are expensive to heat. RV's are not investments, they are expenses only! You would be better off to buy a house you dont like, stay there for a while and look for something you do like. When you put money into home improvements, you usually get some of it back, not in an RV...you just loose. I speak from experience as a retired person, bought and sold a few RV's over my lifetime, not a profitable idea !!

 

[matt167]

We decided against the RV. If we buy land, we’re going to drop a small cabin on the property. I personally just want to buy an inexpensive house with under 5 acres and live cheaper. But for some reason she wants something with usable farm land. But doesn’t want any animals. Her sister raises show winning cows and she helps with them. I hope I don’t end up with a farm but. I think it’s a possibility lol

 

[Scott Danforth]

We decided against the RV. If we buy land, we’re going to drop a small cabin on the property. I personally just want to buy an inexpensive house with under 5 acres and live cheaper. But for some reason she wants something with usable farm land. But doesn’t want any animals. Her sister raises show winning cows and she helps with them. I hope I don’t end up with a farm but. I think it’s a possibility lol

with the price of eggs and milk, im thinking of 3-4 chickens and a cow....

 

[matt167]

with the price of eggs and milk, im thinking of 3-4 chickens and a cow....

True. But both of those can be done with 5 acres if needed. Father in law owns a butcher shop as well

 

[aspeck]

 

[matt167]

Lol. I love that show, and of course the Beverly hillbilly’s. I’m actually okay if we lived off grid for a while. But I don’t want to climb the power pole to answer the telephone. As long as weekends can be spent on the boat

 

[dingbat]

But for some reason she wants something with usable farm land. But doesn’t want any animals. Her sister raises show winning cows and she helps with them. I hope I don’t end up with a farm but. I think it’s a possibility lol

Be careful…..married a girl that kept a horse at her parents place.

Fast forward and she now has four horses, youngest daughter has two more, and I’m Head Groundskeeper and Maintenance Manager of a 30 acre horse farm in my spare time…..lol

 

[redneck joe]

Be careful…..married a girl that kept a horse at her parents place.

Fast forward and she now has four horses, youngest daughter has two more, and I’m Head Groundskeeper and Maintenance Manager of a 30 acre horse farm in my spare time…..lol

so you screen name was well earned??

 

[matt167]

Be careful…..married a girl that kept a horse at her parents place.

Fast forward and she now has four horses, youngest daughter has two more, and I’m Head Groundskeeper and Maintenance Manager of a 30 acre horse farm in my spare time…..lol

Uh oh. She does have a horse at her moms house.

 

[Scott Danforth]

my aunt used to train race horses, my sister owned horses, my cousins have horses, my old neighbor had horses....... all nuttier than squirrel turds.

 

[cptbill]

As was said before, used is the way to go. Last year we bought a 2017 at a dealership it had 12,800 miles on it, it was a trade in. So we traded our 2004 in. The interest rates are a little higher than a car so as the the more the fed raises the prime the higher they will go. On the plus side the used RV's are filling up the lots now

 

[JimS123]

Covid blew up the RV market. You could go camping but not much else. The lots were empty and prices were high. Now, its just the opposite. Camping wasn't what people really wanted. 2-3 year old units are abundant and prices have come down.

RVs are built cheap - that's true. But they only suffer if driven around a lot. Situated on a permanent site and they will last a long time with regular maintenance (keep the roof sealed up)

We decided to own camping property 33 years ago. Didn't have a lot of money so be bought an oldie. Our son bought another one a few years later. Our 2 campers are 1961 and 1964 models. Both haven't moved in 33 years. Of course they built everything better back then)

Our initial $3000 land investment is now worth $150,000. We upgraded one trailer in 2015, and just a month ago our son bought a new 2023 model, and got a smoking deal.

Our acreage started out with $100/year taxes. Now they are about $500. The trailers are not taxed because they are motor vehicles. Building a cabin would not be cost effective for us. If we build a year round house it would be different.

IMHO, leased land in a campground is foolish. There is no better investment than land.

 

[redneck joe]

had a kid employee years ago buy some land (40ish acres) at a fairly young age. Asked him why -

'God aint makin no more'

 

[Scott Danforth]

Hello. Sorry to bother I will be purchasing a travel trailer this summer and will be financing it. This is a vague request, but I was curious as to what the experience is like overall from other people. Did you have to put a specific amount as a down payment required to finance? Any recommendations on lending companies? Just want to get a good grasp on what to expect. Thanks!

Reread the post you quoted. The answers are in there