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New User
Posts: 1
Location: Athens, Texas | I am a dealer and having a hard time getting financing for anyone over the $50K amount......does anyone know of a company that will do the loans for customers that have great credit and huge amount of equity in their trade>>>>>>>>????? |
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Veteran
Posts: 197
![100](https://horsetrailerworld.com/forum/images/decorations/multiple/100.gif) ![25](https://horsetrailerworld.com/forum/images/decorations/multiple/25.gif) ![25](https://horsetrailerworld.com/forum/images/decorations/multiple/25.gif) ![25](https://horsetrailerworld.com/forum/images/decorations/multiple/25.gif) Location: MT | I'm a loan officer in ND and its hard to get anything financed right now because of what we are going through. Your best bet is to go to a credit union, but I think you can understand why banks and credit unions are being sticklers about giving out money. |
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![100](https://horsetrailerworld.com/forum/images/decorations/multiple/100.gif) Location: A high mountain peak | I thought Uncle Obama gave the banks our children's future tax $$$ (stimulus pkg) so they could loan it out to jump start the economy? What am I missing here? |
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![](HTTP://www.horsetrailerworld.com/forum/profile-upload/images/3424-a-deadhorse.gif) Expert
Posts: 1283
![1000](https://horsetrailerworld.com/forum/images/decorations/multiple/1000.gif) ![100](https://horsetrailerworld.com/forum/images/decorations/multiple/100.gif) ![100](https://horsetrailerworld.com/forum/images/decorations/multiple/100.gif) ![25](https://horsetrailerworld.com/forum/images/decorations/multiple/25.gif) ![25](https://horsetrailerworld.com/forum/images/decorations/multiple/25.gif) ![25](https://horsetrailerworld.com/forum/images/decorations/multiple/25.gif) Location: Home of Wild Turkey Whiskey | Originally written by beenaround on 2009-09-18 3:23 PM
I thought Uncle Obama gave the banks our children's future tax $$$ (stimulus pkg) so they could loan it out to jump start the economy? What am I missing here? What you are missing is the fact that a good banker isn't going to loan any money on a $50K trailer when in two years it will be worth $30K. The depreciation outruns the loan value big time in upper end Horse trailers and RV's. I'll be surprised if anyone will take those loans without 25% down and short terms, 72 months max. The goofballs that where writing those 100%, 180 month loans are now out of business, and it's easy to see why. |
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Regular
Posts: 70
![25](https://horsetrailerworld.com/forum/images/decorations/multiple/25.gif) ![25](https://horsetrailerworld.com/forum/images/decorations/multiple/25.gif) Location: Temecula, CA | |
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Regular
Posts: 70
![25](https://horsetrailerworld.com/forum/images/decorations/multiple/25.gif) ![25](https://horsetrailerworld.com/forum/images/decorations/multiple/25.gif) Location: Temecula, CA | Try these two places: Bank of the West, California (sorry no phone number) Southeast Financial 866-952-9059 |
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Member
Posts: 25
![25](https://horsetrailerworld.com/forum/images/decorations/multiple/25.gif)
| Are LQ horse trailers usually financed via "leisure vehicle" loans or via signature (personal) loans? I am considering a used (2007) model LQ and wasn't sure how I would handle that with my credit union. Thanks in advance. |
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![](HTTP://www.horsetrailerworld.com/forum/profile-upload/images/2262-a-smallersize.jpg) Extreme Veteran
Posts: 560
![500](https://horsetrailerworld.com/forum/images/decorations/multiple/500.gif) ![25](https://horsetrailerworld.com/forum/images/decorations/multiple/25.gif) ![25](https://horsetrailerworld.com/forum/images/decorations/multiple/25.gif) Location: Mena, AR | Originally written by kypeep on 2009-09-19 2:12 PM
Are LQ horse trailers usually financed via "leisure vehicle" loans or via signature (personal) loans? I am considering a used (2007) model LQ and wasn't sure how I would handle that with my credit union. Thanks in advance. Did you ever get that trailer in Plano, TX looked at by someone? I just saw your post on it a few days ago. I'm very close to Plano, and could go look if you like. -BJ |
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Expert
Posts: 3853
![2000](https://horsetrailerworld.com/forum/images/decorations/multiple/2000.gif) ![1000](https://horsetrailerworld.com/forum/images/decorations/multiple/1000.gif) ![500](https://horsetrailerworld.com/forum/images/decorations/multiple/500.gif) ![100](https://horsetrailerworld.com/forum/images/decorations/multiple/100.gif) ![100](https://horsetrailerworld.com/forum/images/decorations/multiple/100.gif) ![100](https://horsetrailerworld.com/forum/images/decorations/multiple/100.gif) ![25](https://horsetrailerworld.com/forum/images/decorations/multiple/25.gif) ![25](https://horsetrailerworld.com/forum/images/decorations/multiple/25.gif) Location: Vermont | Originally written by kypeep on 2009-09-19 3:12 PM
Are LQ horse trailers usually financed via "leisure vehicle" loans or via signature (personal) loans? I am considering a used (2007) model LQ and wasn't sure how I would handle that with my credit union. Thanks in advance. If you find a bank that will advance you $50K on a SIGNATURE LOAN...make sure you get your money out of that bank quickly...because it will be going out of business RSN!!! |
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Member
Posts: 25
![25](https://horsetrailerworld.com/forum/images/decorations/multiple/25.gif)
| Unlikely to pay $50K for a trailer in my lifetime, LOL!
Edited by kypeep 2009-09-23 4:30 AM
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Member
Posts: 18
| Bank of the west phone # is 1800-827-7500 or 1925-942-8998. They financed us for 24,900 for a total of 15 years at 6 or 7 %. We aren't the big trailer people and had no problem with them. Although our credit score is really good. |
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Expert
Posts: 3853
![2000](https://horsetrailerworld.com/forum/images/decorations/multiple/2000.gif) ![1000](https://horsetrailerworld.com/forum/images/decorations/multiple/1000.gif) ![500](https://horsetrailerworld.com/forum/images/decorations/multiple/500.gif) ![100](https://horsetrailerworld.com/forum/images/decorations/multiple/100.gif) ![100](https://horsetrailerworld.com/forum/images/decorations/multiple/100.gif) ![100](https://horsetrailerworld.com/forum/images/decorations/multiple/100.gif) ![25](https://horsetrailerworld.com/forum/images/decorations/multiple/25.gif) ![25](https://horsetrailerworld.com/forum/images/decorations/multiple/25.gif) Location: Vermont | Your auto financing of $24,900.00 has a monthly payment of $210.12.This is for $24,900.00 in auto financing at 6.00% for 180 months. The total for all of your payments** would be $37,821.60. $12921.60 worth of interest...![](http://www.horsetrailerworld.com/forum/emoticons/icon_angry8.gif) |
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Veteran
Posts: 197
![100](https://horsetrailerworld.com/forum/images/decorations/multiple/100.gif) ![25](https://horsetrailerworld.com/forum/images/decorations/multiple/25.gif) ![25](https://horsetrailerworld.com/forum/images/decorations/multiple/25.gif) ![25](https://horsetrailerworld.com/forum/images/decorations/multiple/25.gif) Location: MT | Originally written by PaulChristenson on 2009-09-22 3:17 AM
Your auto financing of $24,900.00 has a monthly payment of $210.12.This is for $24,900.00 in auto financing at 6.00% for 180 months. The total for all of your payments** would be $37,821.60. $12921.60 worth of interest...![](http://www.horsetrailerworld.com/forum/emoticons/icon_angry8.gif)
What do you expect if you have a loan for 180 months or 15 years. Thats $71 a month in interest really not that expensive. Thats actually a pretty good rate. If you have to borrow $24,900 over 15 years you shouldn't get a loan. Another thing is that I don't know a banker that would make that loan.
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![](HTTP://www.horsetrailerworld.com/forum/profile-upload/images/366-a-buckskin halter horse.gif) Extreme Veteran
Posts: 420
![100](https://horsetrailerworld.com/forum/images/decorations/multiple/100.gif) ![100](https://horsetrailerworld.com/forum/images/decorations/multiple/100.gif) ![100](https://horsetrailerworld.com/forum/images/decorations/multiple/100.gif) ![100](https://horsetrailerworld.com/forum/images/decorations/multiple/100.gif) Location: Iowa | I wonder what that $37,000 trailer will look like after 15 years. Better yet, what will it be worth? |
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Member
Posts: 18
| That all aluminum trailer had still better be useable since i still see 1997-1998 trailers fetch a pretty penny. We aren't big trainers or show people we had bank of the west get us a payment we coulf afford. Yes i knew it was alot of interest but if it is repo'd what good was it to try to make a payment you can't really afford.The payment actually after all the insurance turned out to be 275. |
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Expert
Posts: 3853
![2000](https://horsetrailerworld.com/forum/images/decorations/multiple/2000.gif) ![1000](https://horsetrailerworld.com/forum/images/decorations/multiple/1000.gif) ![500](https://horsetrailerworld.com/forum/images/decorations/multiple/500.gif) ![100](https://horsetrailerworld.com/forum/images/decorations/multiple/100.gif) ![100](https://horsetrailerworld.com/forum/images/decorations/multiple/100.gif) ![100](https://horsetrailerworld.com/forum/images/decorations/multiple/100.gif) ![25](https://horsetrailerworld.com/forum/images/decorations/multiple/25.gif) ![25](https://horsetrailerworld.com/forum/images/decorations/multiple/25.gif) Location: Vermont | Originally written by brew26 on 2009-09-22 9:27 AM Originally written by PaulChristenson on 2009-09-22 3:17 AM Your auto financing of $24,900.00 has a monthly payment of $210.12.This is for $24,900.00 in auto financing at 6.00% for 180 months. The total for all of your payments** would be $37,821.60. $12921.60 worth of interest...![](http://www.horsetrailerworld.com/forum/emoticons/icon_angry8.gif) What do you expect if you have a loan for 180 months or 15 years. Thats $71 a month in interest really not that expensive. Thats actually a pretty good rate. If you have to borrow $24,900 over 15 years you shouldn't get a loan. Another thing is that I don't know a banker that would make that loan. My response was to ride the shocker...who says they have such a loan...![](http://www.horsetrailerworld.com/forum/emoticons/icon_rolleyes.gif) |
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Regular
Posts: 56
![25](https://horsetrailerworld.com/forum/images/decorations/multiple/25.gif) ![25](https://horsetrailerworld.com/forum/images/decorations/multiple/25.gif) Location: Shawnee, Oklahoma | I am a dealer too. Most people look at the monthly payment as the cost of owning a nice trailer, not the total interest after the loan matures. If they can afford the payment, they buy the trailer. If the trailer is newer than a 2005, Southeast will give them 12 year financing on $50k. If it's older, they will get 10 yrs. It's very hard to find anyone anymore who will do 15 yrs. on an RV loan. We do a very small amount of loans through them, but they are good to work with. We're lucky to have a local bank who does as good or better than they do. |
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Member
Posts: 18
| I did recieve such a loan we have excellent credit but had to get affordable payment. Bank of the west did it but i will say it was 11 months ago. I don't know if they would do it now. |
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