can anyone out their tell me who would be the best to finance and new horse trailer with. i would like to find the best rate i can since im spend about $53,000 on a new trailer. my credit score is prime. or could any one tell me what kind of rate should i expect. any help would be great. i think that the financing on trailer is like buying a new car. they can make a percent of the intrest off of you. thanks buddy green
Posted 2006-09-05 7:29 AM (#47867 - in reply to #47846) Subject: RE: horse trailer financing
Expert
Posts: 2689
Originally written by bigdaddy3xl on 2006-09-04 8:34 PM
can anyone out their tell me who would be the best to finance and new horse trailer with. i would like to find the best rate i can since im spend about $53,000 on a new trailer. my credit score is prime. or could any one tell me what kind of rate should i expect. any help would be great. i think that the financing on trailer is like buying a new car. they can make a percent of the intrest off of you. thanks buddy green
The lowest rate is probably what you're getting on your savings and investments (stocks, bonds, CDs, money market, etc).
It is almost always cheaper to give up the (taxable) return on these than to pay (non deductable) interest on a new debt.
You can usually drive a better deal on vehicles & trailers when you are able to pay in CA$H.
I dislike carrying debt on vehicles and other optional possessions, but that is just a personal preference.
Posted 2006-09-05 7:55 AM (#47868 - in reply to #47846) Subject: RE: horse traier financing
Veteran
Posts: 246 Location: Northern IN.
Howdy Buddy,
I too checked all over for the best deal as we have bought 3 new trailers already this year. I've found that for me personally our local banks were just as compeitive as any nationwide lending company, and you get a little more personal attn. being able to "put a face with the name". They were also better than a credit union that we would've been able to go through. Any how down to your other question... we're right there in the high 7's to low 8's as a percentage rate. And we too both have excellent credit scores (in the 800's). Some banks will offer to take a quarter percent off if they auto-deduct the payment from your checking or savings accnt. Something to look into if you are already doing your other banking there anyhow. Well that's what I've found up here in N. Indiana but I see that we are a couple of miles apart, what is it 25 or 30 . Hope this helps ya a little bit and the best of luck to ya. Don't be afraid to throw that good credit rating around!!! You worked hard for it for lots of years and NOW it's time to "cash-in" on it. If they don't want to work with ya let them know the bank one county over would LOVE to finance this trlr.
horse traier financing
. Hope this helps ya a little bit and the best of luck to ya. Don't be afraid to throw that good credit rating around!!! You worked hard for it for lots of years and NOW it's time to "cash-in" on it. If they don't want to work with ya let them know the bank one county over would LOVE to finance this trlr.