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  1. #11
    Seasoned Camper
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    We did the 15 year term because they offered us an interest rate of 3.99. We intend to pay it off in three years. If we paid it off in 15 I think we’d have paid an extra 20k in interest. Ouch! I can’t even imagine the rig would have much value after 8-9 years. Might be a good hunting shack for someone.
    Mike & Linda
    303RLS
    2013 F250 Turbo Diesel Crew Cab

  2. #12
    Site Sponsor 315RLTSinPA's Avatar
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    Most people will take the 15yr loan for the lower payment and their trailer will be junk in 5yrs from lack of maintenance. We took the 15yr loan because it offered the lowest interest rate, knowing we would pay it off early. Paid it off in 2.5yrs. If stretching it out the whole 15yrs, then yes, you'll pay about 1.5 times the original price.
    2018 Reflection 315RLTS
    2023 F350 Lariat 6.7L/CC/LB/FX4

  3. #13
    Big Traveler dryfly's Avatar
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    Quote Originally Posted by NB Canada View Post

    Who knows how long people are taking loans out for
    No way to know that


    2021 Imagine 2400 BH
    2018 GMC Sierra 4x4 crew
    My question was directed at Huntr70 because much of the financing is handled by dealers and I assumed he would know.
    2020 Reflection 273MK

  4. #14
    Commercial Member huntr70's Avatar
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    Quote Originally Posted by dryfly View Post
    Just curious..........what is the maximum length of time a trailer can be financed for. And, what is the average length of time buyers are financing for?
    15 years is from $25k-50k financed. You can go 20 years over $50k.

    Most people finance the longer term and pay it down. (No penalty to pay off early)
    Steve- Inventory Manager at Tom Schaeffer's RV, Shoemakersville, PA www.tomschaeffers.com
    [email protected]
    2011 RAM 3500 SRW Outdoorsman Edition 4X4, 6.7 Cummins--TWEAKED!
    2021 Reflection 310RLS

  5. #15
    Big Traveler dryfly's Avatar
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    Quote Originally Posted by huntr70 View Post
    15 years is from $25k-50k financed. You can go 20 years over $50k.

    Most people finance the longer term and pay it down. (No penalty to pay off early)
    Very interesting, but just what I expected. For those that finance long term, expecting to use the full term to lower payments, it's going to be a sad outcome when they try to dispose of their trailer. This is certainly not only being seen in the RV business, but in many others as well. Almost akin to sub-prime lending in the housing industry. Financing of this nature is what the consumer is now demanding!
    2020 Reflection 273MK

  6. #16
    Fireside Member
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    Quote Originally Posted by dryfly View Post
    Just curious..........what is the maximum length of time a trailer can be financed for. And, what is the average length of time buyers are financing for?
    We financed ours on 15 years but put $15,000 down and have been paying $3000 a month on it for the last 13 months. We are fortunate not to have any other payments.
    2020 Solitude 310GKR
    2003 F350 PSD

  7. #17
    Big Traveler
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    Quote Originally Posted by huntr70 View Post
    15 years is from $25k-50k financed. You can go 20 years over $50k.

    Most people finance the longer term and pay it down. (No penalty to pay off early)
    Wow...
    I'm just amazed.
    I realize everybody's situation is unique...but..... I just never contemplated a 15 to 20 year financing on a trailer.
    2018 Dodge 3500 6.7 Cummins SRW w/Aisin
    2021 Reflection 303RLS
    New to RV'ing since 1997

  8. #18
    Commercial Member huntr70's Avatar
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    Quote Originally Posted by Scott'n'Wendy View Post
    Wow...
    I'm just amazed.
    I realize everybody's situation is unique...but..... I just never contemplated a 15 to 20 year financing on a trailer.
    On my own, we always finance the max amount of years, and pay it off in a few years. The longer the initial term, the lower the interest rate.
    Steve- Inventory Manager at Tom Schaeffer's RV, Shoemakersville, PA www.tomschaeffers.com
    [email protected]
    2011 RAM 3500 SRW Outdoorsman Edition 4X4, 6.7 Cummins--TWEAKED!
    2021 Reflection 310RLS

  9. #19
    Long Hauler geotex1's Avatar
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    I have a somewhat different view, and it requires active management of one's finances... Not all debt is bad debt, and that's been a fact for a few decades now..
    Nikki and I could have paid cash, but that would have been a poor financial choice. That dollar amount was (money market) returning at a little over 3 times the fixed interest rate on our loan. When COVID-19 dragged the money market rate down, I put that into other investments that worked out strongly in our favor. Having the liquidity was a sound decision. Now I completely agree if one has taken such a loan to buy over what they can truly afford, that is a more risky prospect and easily lends to being underwater with any sort of recreational vehicle.
    Rob & Nikki + Cloverfield
    2020 Grand Design Solitude S-Class 3350RL
    2015 RAM 3500 Longhorn Laramie Crew Cab, Long Bed, 4x4 Dually Cummins/AISIN

    Mountains of Pennsylvania

  10. #20
    Fireside Member
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    Quote Originally Posted by huntr70 View Post
    Get ready, they are coming.

    Just received emails from all lines of Grand Design.

    7% price increase effective today. All retail ordered units in their system are price protected, but moving forward, everything is now 7% higher.

    On a similar note, it is from all manufacturers.....Keystone is going up 4% on 5/1 and another 5% ON 6/1.

    Heartland is 5% on 5/1.

    FR is coming also. 7% on 6/1.
    This likely reflects price increases on all of the materials required to build a trailer and the fact that demand exceeds supply. I'm sure that all of the various suppliers of parts are pretty happy to be able to sell everything they can make without having to discount.
    2021 Reflection 303rls
    2021 GMC 3500HD AT4 4X4 Duramax Standard Box
    2021 B&W Companion

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