View Full Version : SOMEONE EXPLAIN WHY PURCHASING A TRAILER IS SUCH A NIGHTMARE
May. 13, 2011, 03:33 PM
I have a good credit score
I have 10% to put down
So, why are they trying to rape me in interest? This is ridiculous!
May. 13, 2011, 03:42 PM
are you trying to finance it with the dealer? i'm guessing yes, and yes, they will kill you with interest rates. you will almost always get a better deal with your local bank, or - even better, credit union. shop that loan!
May. 13, 2011, 03:51 PM
Because a horse trailer is neither vehicle nor RV. Essentially you are getting a personal loan. Shop around, but you won't get the same rate as a car for instance.
I traded my trailer in, but essentially refinanced my truck to pay for my trailer...don't ask...my credit union worked the deal, and I have a much better rate.
May. 13, 2011, 05:28 PM
Being a bit old fashion I'm still stunned that you can get a loan on any major purchase, car, home, trailer with only 10% down. If banks hadn't done all these no/low money down loans we wouldn't have ended up in this national credit crisis in the first place.
May. 13, 2011, 06:36 PM
A line of home equity credit is good to have for these reasons - as long as you don't abuse it, tap it out etc. I've used ours and then pay it back down as soon as I can.