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New User
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Location: kouts,in | Does anyone know of a place to get a trailer financed if your selling the trailer privately? I have people looling but want to know if there is some place to get the financing. I don't know other than their local bank. |
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Expert
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Location: North Carolina | I would not mess with them. If I were selling a trailer I wouldn't want to get involved with financing. I'm not a dealer. But that's what dealers do... (arrange financing that is) |
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Expert
Posts: 2689
| Originally written by laurapinedrive on 2006-09-17 9:26 PM
Does anyone know of a place to get a trailer financed if your selling the trailer privately? I have people looling but want to know if there is some place to get the financing. I don't know other than their local bank.
I understand your interest in finding a way for THEM to come up with the money for YOU, but it really is THEIR problem.
I think most banks and credit unions will loan money against used boats, snowmobiles, trailers, etc., suggest that THEY enquire at THEIR financial institution. Just don't accept a "half now, half never" deal, YOU want to see CA$H.
I was assuming that you don't have a debt on it, if you do you'd have to somehow pay that off to get your bank to release their lein - bank to bank maybe ? Dunno, I do only the cash thang on trucks and trailers.
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Veteran
Posts: 192
Location: Kentucky | Also, make sure that you don't let them purchase the trailer by making monthly payments to you. That can be a nightmare. They will be able to find a place to loan them money, but they will pay an unbelievable amount of interest. |
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Regular
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Location: Midwest USA | Some dealers will control the financing for you even if they do not own the trailer themselves..(a smart dealer would at least)..they make some money from the bank so it is sometimes worth there while..........If you know someone who works at a dealer or if there is a dealer near you, give them a call and see if they would be interested.....it is worth a shot...they can only say no.....good luck |
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Regular
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Location: Lavaca, Alabama | Tell them to try capitalone.com - they will finance horse trailers sold privately. |
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Extreme Veteran
Posts: 544
Location: Claxton, Ga. | http://www.southefinancial.com/ Tell them to go to here.......They will shop your loan and get you the best deal. |
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 Veteran
Posts: 209
Location: pensacola, fl | I agree with spooler. I used Southeast Financial for my trailer financing and had no problems.
Edited by Monsterhorse 2006-09-19 12:44 PM
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Expert
Posts: 1723
Location: michigan | they should be contacting their credit union or bank. Most horse trailers fall under RV loans. But like has been said- thats their problem. |
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Veteran
Posts: 192
Location: Kentucky | The bank or credit union is the best way to go because an early pay off means less interest. Most finance companies front load the interest so the full interest is paid no matter when you pay the loan off. However, banks and credit unions will only loan so much on an RV type vehicle which makes it difficult for someone who doesn't have a substantial down payment. |
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Regular
Posts: 98
Location: Midwest USA | Simple interest is simple interest.........simple interest loans do not load the front end with interest ...conventional car loans do that..Simple interest loanshave the interest spread out more thru the loanand the bank gives cash pay-offs w/ no penelty or sometimes 2% of the balance...they want you to make the first 3 payments then after 90 days you can pay it off....There is no better way to buy a trailer....Credit Unions most of the time will not do a recreational simple interest loan...most of your big time banks don't even do them....First Merit,National City,First Internet Bank are just a couple of the banks out ther that do these type of loans....the key is how they let you pay it off.....Simple Interest is great...gives you the customer options when it comes to your loan...... |
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Member
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Location: Minnesota | I believe that National City Bank is out of the horse trailer financing industry.....You may want to get your facts straight before you jump up on your all knowing soapbox and spew out inaccurate information to the general public.  |
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Veteran
Posts: 192
Location: Kentucky | "jump up on your all knowing soapbox" Now really, who considers what was said a soapbox? The simple interest was the main content of that statement. I am sure that whoever called a bank could find out if they care horse trailer loans or not. Just a matter of a phone call. It helped me. I couldn't think of the term "simple interest" when I was giving my 2 cents worth. |
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Member
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Location: Right Here | Ahhhhhhhhhhhh dogma......... Bless your heart, you just cant help but to s#!t and fall back in it can you. Now before you, being the obvious professional "know it all", takes up more room on what is coming together to be a very informative post, you should investigate, and educate yourself a little bit, because unless all my sources are wrong and my own expieriences are all useless, someone can definately use them as a lender for a horse trailer, they use to be one of the most popular lenders for the equine industry. Now, they may not work in conjunction with ETAC, a company I think your familiar with, but i believe National City Bank will finance a trailer and they are located all over the northeast and down into MO., besides, like the nice person from Kentucky said, the message was about simple interest loans. You need to let the past go and move on partner. Quit being a pain and putting out your own version of knowledge to the public. Thanks anyways though. |
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Member
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Location: iowa park tx | Prior to purchasing my 2006 stock trailer in May I went to my local credit union and the interest rate was exorbitant as it was listed as an RV loan; higher than conventional auto loan. I found the best deal being with my credit card company. I charged it to my credit card and paid it off within six months. The interest was considerably less. Rick |
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Regular
Posts: 98
Location: Midwest USA | My brother Sig.....again,nicely done !!! It just seems like Dogma has an agenda...his agenda is to make himself "look" like he knows what is up to all the horse industy....his previous shotcomings in the finance end of the horse industry is his problem...now he wants to spread ill will toward me that in turn is going to make his "name" even worse in the industry...I think someone has already told him that..right DOG !!! not mentioning any names...ya know, it all started over simple interest..and he had to show his a@* and come off with some stupid s*#@....my mother always told me...consider the source...thanks mom !!! This source is nothing to worry about...shew fly !! |
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Veteran
Posts: 192
Location: Kentucky | Meanwhile, back at the financing; my VISA company would have had me arrested if I had tried to put my last trailer on my card. How can you get money from visa for a private transaction? |
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Veteran
Posts: 209
Location: pensacola, fl | Sounds to me like there is a few guys on here that just need to meet behind the barn and duke it out the old fashion way!! |
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Expert
Posts: 2953
Location: North Carolina | Originally written by arlene21 on 2006-09-22 12:57 PM
Meanwhile, back at the financing; my VISA company would have had me arrested if I had tried to put my last trailer on my card. How can you get money from visa for a private transaction? Not having done this... My credit cards keep sending me bunches of stuff to get a cash advance or balance transfer checks. I imagine it would be easy to get but expensive. |
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Regular
Posts: 94
Location: Minnesota | I am trying to remember how I used my VISA to buy my trailer last year. It was one of those no-fee cash advance checks with 0 percent interest for one year. I think I wrote a cash advance check to myself. Put it in my account. Withdrew the cash a week later. Paid it off in under a year. I don't get all that many cash-advance or balance transfer offers any more. But I used to get them all the time in the past. |
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Veteran
Posts: 192
Location: Kentucky | If a credit card loan can be paid off in 6 months or 1 year then that might be the way to go but many times, people can't do it because of the high interest rate. They end up paying the interest and never get to the balance. I have seen so many people get into a credit card hole that took years to dig out of. |
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TRAILER FINANCING
