Any tips or ideas for financing a LQ? I have good credit and would like to have the lowest payments possible to keep my monthly cost down. Who do you all use to finance used horse trailers?
When I bought mine. My truck was paid off. I went to the credit union and got a great loan with low rates. Then I had cash in hand to shop and got a steal on a trailer that was just over10 yrs so did not qualify for loans. The guy had a couple buyers but they could not get loans on it. I made an offer and he took it!
Typically we just go thru our own bank. We've been banking there for close to 20 years... we have a very good relationship and pretty much do all our major purchases thru them, including several horses. They tale good care of us. Most dealerships will have a few finance companies they will work with.
Mine was financed thru the dealer I bought the trailer from. They had a couple of banks they deal with.
Use it for 14 days and call it a vacation home and mortgage it for 15 or 30 years.
Was told that by some people when asked how in the world people afford 150K Big rigs.
NOT recommended. LOL Since lots of trailiers don't last that long or even close!
Find a good credit union. A friend just financed a used lq sold by a private party with America First Credit Union out of Utah for around 5%, which is pretty good given her credit.
We used my hubbies 401k. NO we didn't cash it in but we borrowed against it. Was able to get a 5 yr loan and we paid ourselves back on the interest. We also looked into a home equity loan. But, it was a better use of our money to borrow from the 401K.
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