Replacing your RV or Truck once on the road - RV-Dreams Community Forum

Camper Chronicles · RV-Dreams Family Member

Replacing your RV or Truck once on the road

Lucky Mike · RV-Dreams Family Member

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.

bjoyce · RV-Dreams Family Member

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

Technomadia · RV-Dreams Family Member

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