lawnspecialties
Garner, NC
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My new F450 is going to (hopefully) begin production this Fall. Super Duty production is supposed to begin in October and my order was placed on day of the order banks this year. But we'll see.
I have enough saved up to either buy the truck outright or the toy hauler we plan to purchase. As bad as interest rates are, I'm guessing the truck will need to be financed versus the camper. Trucks are usually easier to get financed and rates are usually lower than an RV. But nothing is great these days and nothing can be considered "usually" anymore.
In the past, 4.99% has been our norm for campers. With that being said, what rates are people seeing on towables in late 2023? I'm almost afraid to hear the responses.
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Samsonsworld
West Texas
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Joined: 06/18/2015
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I went from 3% to 7% on my last few purchases.
* This post was
edited 08/11/23 10:23am by an administrator/moderator *
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joebedford
Home for the summer.
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Joined: 09/03/2003
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In Canada, interest rates are set by the Bank of Canada which is completely independent from the federal government (at least it's supposed to be).
USA is similar.
I don't think anyone will finance a towable in Canada. It may be different for a drivable - I really haven't looked into that.
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sayoung
Tx
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Our friend financed a used 2018 TT end of June & she was poked for 9.75 . She was going to get a better rate at her CU but let them know she was going to live in it for a few years at a job out of state. They wouldn't finance full time RV's.
In this current market I would finance the 450 & not the rv. The 450 would be way easier to sale if needed than the toyhauler IMO. I would carry the notes on both for a simple 20% down, 20% interest, for 5 years ??
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Grit dog
Black Diamond, WA
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I guess this type of stuff is hard to look up on the same internet one uses to access this forum, so I did it for you.
The credit Union we used to use for loans says 6.5% on RVs and 5.75% on vehicles.
But your credit may vary, so this is a silly question. We don’t know your overall creditworthiness.
2016 Ram 2500, MotorOps.ca EFIlive tuned, 5” turbo back, 6" lift on 37s
2017 Heartland Torque T29 - Sold.
Couple of Arctic Fox TCs - Sold
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Grit dog
Black Diamond, WA
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sayoung wrote:Our friend financed a used 2018 TT end of June & she was poked for 9.75 . She was going to get a better rate at her CU but let them know she was going to live in it for a few years at a job out of state. They wouldn't finance full time RV's.
In this current market I would finance the 450 & not the rv. The 450 would be way easier to sale if needed than the toyhauler IMO. I would carry the notes on both for a simple 20% down, 20% interest, for 5 years ??
I don’t know him well enough for those terms. But I do know he has enough planned out of pocket to go about 50% down on each. I’ll offer up 40% down on each at 18% (the rvnet good buddy special), same term length.
He’ll be upside down big time on the RV so the big $ down on that is a must for Gritdog CU but the $down on the truck could be negotiable.
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way2roll
Wilmington NC
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If you are going to finance one or the other, I'd be willing to bet you'll do better on the truck. Rv rates are typically higher as a general rule anyway, but the truck may have rebates and incentives and Ford can offer their own financing which might be way below bank rates.
2023 FR Sunseeker 2400B MBS
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monkey44
Cape Cod, MA and Central Fla
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Agree with way2roll ... you'll probably keep the truck longer than the RV, and if not, they are separate so you can split them if you need to change one or the other. Probably get better rate on the truck too, for shorter term. You will also get a better trade on the truck later, if you decide to do it.
Monkey44
Cape Cod Ma & Central Fla
Chevy 2500HD 4x4 DC-SB
2008 Lance 845
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Grit dog
Black Diamond, WA
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monkey44 wrote:Agree with way2roll ... you'll probably keep the truck longer than the RV, and if not, they are separate so you can split them if you need to change one or the other. Probably get better rate on the truck too, for shorter term. You will also get a better trade on the truck later, if you decide to do it.
With the mack daddy setup that this dude has been “trying” to purchase and bellyaching about for a while now, I’d hope it’s the combo he wants to keep for a good long time…
For 3/4% difference. Finance the RV, unless it’s your only home. That way if something happens and the bank comes calling at least you still have wheels! Or vice versa if it’s the primary roof over your head.
Still tryin to figure out what the question really is. The rate is going to be what HE qualifies for. Regardless of what anyone else’s experience is. And to that end can find current rates published literally everywhere. And appears to have financed multiple RVs in the past, albeit for the same rate each time?
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twodownzero
NM
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joebedford wrote:In Canada, interest rates are set by the Bank of Canada which is completely independent from the federal government (at least it's supposed to be).
USA is similar.
I don't think anyone will finance a towable in Canada. It may be different for a drivable - I really haven't looked into that.
In the United States, interest rates are controlled by the market. They are heavily influenced by the Fed's open market activities, but they are not controlled directly by any government agency.
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