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Member
Posts: 5
Location: Arkansas | I am needing to purchase a bigger trailer (4 horse w/LQ) and most I have looked at are expensive. I have seen several used ones that I really like, but was wondering how you would go about getting financed for these trailers?? My bank will only go 4 yrs on used trailers, which would make the payments astronomical. I know when buying from dealers, you can go years longer. I was just wondering has anyone purchased from an individual, and if so, how did they go about their financing, outside of having the cash to pay for it? Thanks! |
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Veteran
Posts: 129
 
Location: Northwest Ohio | Is the bank aware that the trailer has a LQ, which qualifies it as a travel trailer? That may allow for a longer loan term. Our credit union gave us a 10-year loan. There are also some national horse trailer finance companies who might be of help.
Edited by Candy girl 2008-08-06 11:21 AM
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Regular
Posts: 64
Location: Oklahoma City | Try Southeast Financial available on the internet. Your credit has to be excellent though. |
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Member
Posts: 5
Location: Arkansas | Thanks for the info. I will check into the Southwest financial. I received a msg from another finance co that I will check into as well. Credit was ran last week and score is 780 so no problems there. My bank is a small home town bank (only one branch) and they will only finance 5 years on new and 4 on used,,can't go any longer,,,,believe me, I have already asked. Thanks for your help! |
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Veteran
Posts: 182
| Yeah, I am guessing banks are going to get tougher on how they lend out money. The last time I had checked on ordering a trailer the dealer wanted 20% down instead of the usual 10. |
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Extreme Veteran
Posts: 317
Location: Barnesville, Ga. | You might also try Elite Lending (First Internet Bank of Indiana); We bought our trailer new but found this lender to give us a better rate that what the dealer offered so we financed with them. I don't know what their policy is on used units, but they seemed very willing to finance horse trailers. |
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Member
Posts: 5
Location: Arkansas | Thanks Tom-Tom, I will check with them as well! |
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Buying trailers from individuals
