Posted 2007-01-14 2:24 PM (#53849) Subject: Average Loan Terms
Member
Posts: 5
Location: Hicktown, AR
We have been looking at aluminum living quarters trailers ranging in price from 10,000 to 15,000 and in years from 1993 to 2004. I know this is a very open-ended question but what kind of loan terms can we expect to get on the older trailers vs. the newer ones? How long will some of the horse trailer financing companies go on 1993 and 1994 models? Thanks in advance for any help.
Posted 2007-01-14 3:00 PM (#53850 - in reply to #53849) Subject: RE: Average Loan Terms
Expert
Posts: 1283 Location: Home of Wild Turkey Whiskey
I wouldn't surprise me if they gave you 10 years on $15K. The best way to buy if possible is with a home equity loan. That way your not trapped to deal with the dealer and his "Special Financing". My buddy the trailer dealer did the financing on the last trailer I sold, for the buyer(private), after the deal was all over I went to take him to lunch for doing me a favor and financing the guy who bought my trailer. He said it really wasn't such a favor as he made $800 for doing it.
Posted 2007-01-14 8:46 PM (#53865 - in reply to #53849) Subject: RE: Average Loan Terms
Veteran
Posts: 254 Location: Dickinson, TX
I've heard lately that before you take out a home equity loan, make sure you have equity in your home. Sounds like real estate is taking a hit right now (I wouldn't know for sure, as I am in the military and don't own a home--move too often!!)
Average Loan Terms
