Hi Everyone. Well, after 15 years the RV-Dreams Community Forum is coming to an end. Since it began in August 2005, we've had 58 Million page views, 124,000 posts, and we've spent about $15,000 to keep this valuable resource for RVers free and open. But since we are now off the road and have settled down for the next chapter of our lives, we are taking the Forum down effective June 30, 2021. It has been a tough decision, but it is now time.


We want to thank all of our members for their participation and input over the years, and we want to especially thank those that have acted as Moderators for us during our amazing journey living and traveling in our RV and growing the RV-Dreams Family. We will be forever proud to have been founders of this Forum and to have been supported by such a wonderful community. Thank you all!!

Members Login
Username 
 
Password 
    Remember Me  
Post Info TOPIC: Replacing your RV or Truck once on the road


RV-Dreams Family Member

Status: Offline
Posts: 932
Date:
Replacing your RV or Truck once on the road


Have a question for all the folks who have been doing this awhile.  So your on the road for 7 years and your truck or RV needs replaced or major work done.  I am curious if you got a loan or paid cash.  How difficult was it to get a loan with a nomadic lifestyle??  Not everyone has a chunk of money set aside for something major was wondering what folks did.  



__________________

 Trace 

Ford F350 Super Duty 4x2.  Open Range 386FLR

Follow our journey at www.camperchronicles.com

 



RV-Dreams Family Member

Status: Offline
Posts: 2950
Date:

I guess it would depend on where and how you declare you residence.......also would depend if you told them your home was on wheels !


There are specialized Credit unions and banking that cater to fulltimers .....I believe Escapees has a few that will work with you.

__________________

 1998 ...Harney Renegade DP  class A

rers1@mail.com

 

My Service dog and life partner " Nikki"......Klee Kia Miniature Husky....(she Runs the ship!!)

We are not lost in the Woods.....Just Extreme boondocking!!!!!!



RV-Dreams Family Member

Status: Offline
Posts: 3721
Date:

We financed our new car through a credit union.

Edit: I did want to add that we were going to buy the car outright, but the credit union gave us such a low loan rate we took out a loan.  It is nice to have a high credit rating and score. 



-- Edited by bjoyce on Saturday 25th of January 2014 08:49:14 PM

__________________

Bill Joyce,
40' 2004 Dutch Star DP towing an AWD 2020 Ford Escape Hybrid
Journal at http://www.sacnoth.com
Full-timing since July 2003



RV-Dreams Family Member

Status: Offline
Posts: 679
Date:

We've replaced vehicles and RVs multiple times on the road, and had major repair expenses.

We do keep cash set aside for un-scheduled expenses and/or funded some of the replacements with our resell value of the original vehicle/RV.

One time however, we needed to rather urgently replace our tow truck (when we had a trailer) and there just wasn't time to facilitate the necessary transfers into a cash accessible account. So we just took out a loan to drive the vehicle off the lot, and paid it off shortly thereafter. Getting the loan was no big deal, we just went with the dealership's default loan company.

It might have been more difficult to get a loan for a RV however, as many banks have gotten very picky about those to begin with, never mind adding in the full timer status. But there are credit unions (Alliant) that are business partners with Escapees and have known several who successfully got loans through them.

- Cherie

__________________

Cherie (and Chris) / Our blog: Technomadia.com

Full time since 2006 as Gen-X 'technomads' (technology enabled nomads)

RV Mobile Internet Resource Center (unbiased information by RVers for RVers)

zephyr_pixel.jpgRV: 1961 GM 4106 Bus

Toad: 2009 MINI Cooper

Page 1 of 1  sorted by
 
Quick Reply

Please log in to post quick replies.

Tweet this page Post to Digg Post to Del.icio.us