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Old 05-27-2016, 02:43 PM   #1
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Getting a loan for older Airstream, Is it possible?

I found a 34ft 1979 Avion trailer that is renovated that I am trying to get a loan for and it's tricky!

Are there any recommendations on where to get a loan for an older year trailer?
Or maybe links to RV dealers that buy and sell older Airstream type trailers... Someone I could get a higher quote from then on the NADA guides...

Thank you for your help.
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Old 05-27-2016, 03:11 PM   #2
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If you belong to a credit union they will some times work with you.
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Old 05-30-2016, 09:06 AM   #3
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Home equity loan?
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Old 09-26-2016, 07:11 PM   #4
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what we found when we were buying a 2005 unit was most banks will only finance up to 7 yrs old and most will not finance RV or mobile homes.

The best way is to get a home equity loan if possible and use that to buy the unit. something old as what you are looking for it will be tough at best to impossible.

good luck
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Old 09-27-2016, 06:34 AM   #5
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My credit union assisted me in my time of need.
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Old 09-27-2016, 06:50 AM   #6
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If you need to borrow money on an rv , you don't need it, my opinion....
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Old 09-27-2016, 07:51 AM   #7
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Lightstream has worked for me multiple times.
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Old 09-28-2016, 06:34 AM   #8
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true, but for most folks not a real option especially with a 60K (+-) used TT. I guess that was not an issue for you which must be nice.

In our case we got a home equity loan to get the RV because the deal came up before we sold the investment property we have, which when sold this month, will pay off the RV loan.

different ways to do stuff. The interest on HE loans at 8.5% is deductible as well. WIN WIN..

Quote:
Originally Posted by tjdonahoe View Post
If you need to borrow money on an rv , you don't need it, my opinion....
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Old 09-28-2016, 07:32 AM   #9
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Quote:
Originally Posted by tjdonahoe View Post
If you need to borrow money on an rv , you don't need it, my opinion....
I think you mean, you cant afford it. I think that way about a personal car too.
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Old 09-28-2016, 07:40 AM   #10
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One of reasons I'm keeping my 1976 AS. Pd cash when pur. new, now value much more than sticker price in 1976 other reason to old for new, also only pur. new auto or pu if 0% for life of loan, then keep till worn out or to exp. to fix
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Old 09-28-2016, 08:11 AM   #11
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Yes we can afford it, but the trailer showed up while our cash was busy working elsewhere.

Our credit union gave us a signature loan at 9%.

We expected to pay it off in <6 months, but within weeks we got a 0% credit card offer with 2% transfer fee. Done.
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Old 09-28-2016, 08:12 AM   #12
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Quote:
Originally Posted by r carl View Post
I think you mean, you cant afford it. I think that way about a personal car too.
I always love the wanna be financial advice of poor people who do everything in cash and always think they're superior to others. These degrading comments are not necessary.

Congratulations you paid for things in cash. Now try coming up to the next level of financial independence and stop giving others your regurgitated Dave Ramsey advice.

A lot of us who are more successful in life like to use leverage rather than tie our own money up in depreciating assets. Leverage is a powerful wealth creating tool. And liquidity is an asset.

We all understand you don't agree, but try not putting others down when they are seeking advice because you disagree.

---

Re: Credit Unions are a good place to look. But as others stated, you might not be able to get a collateral loan for something older than 7 years. In which case you could try for a personal loan. Which will depend heavily on your credit.

For average people that tops out between 10-12k. If you have excellent credit, you should see upwards of 20k or more personal. Bigger amounts will depend on savings or income.

This has been my experience.
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Old 09-28-2016, 08:57 AM   #13
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The cost of interest on your Airstream (or car!) pales in comparison to the depreciation costs.

Thanks to you all who buy new, you're saving those of us who buy used a fortune.
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Old 09-28-2016, 09:20 AM   #14
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It use to be:

"It's not the man who dies, but the man that dies with the most toys, is who wins"

In todays world:

"It's not the man who dies with the most toys, but the man who dies with the most toys "that are not paid for" is who truly wins!"

"Old Money Folks" have a rule of paying cash for all of their toys, "New Money Folks" I find like to leverage to purchase toys. The difference becomes when the bottom falls out of the economy, "Old Money Folks" are still playing with their toys, the "New Money Folks" their toys are sitting in the bank parking lot for sale.

Enjoy,
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