Financing a Used Diesel Motor Home
Traveling in a motor home allows you to have the amenities of home while on the road. Buying a used diesel motor home instead of a new one can save you money and help you avoid being "upside down" in your loan. Financing a used diesel motor home is similar to financing a car. However, since diesel engines hold up well to long road trips and get better fuel mileage, according to CNN Money, used diesel motor homes are sought after and easier to finance.
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Instructions
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Visit a bank that you have done business with in the past. Banks that are privately owned and local have financing options for diesel motor homes that benefit you as the borrower, since they provide in-house financing and have fewer rules than other finance companies.
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Contact a finance company that specializes in financing motor homes, like those provided at GoRVing.com (see Resources). Request information regarding financing a used diesel motor home. Compare the rates with the banks.
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Provide the finance company or bank with the make, model and mileage of the motor home, along with the vehicle identification number. Have a copy of the title available for the lender as well. Also, tell the lender that is has a diesel engine so he can provide an accurate loan value for the used motor home.
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Complete a loan application with the lender you choose. Provide your personal information, such as name, address, birth date, social security number and income information.
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References
Resources
- Photo Credit lake mead national recreation area 4 image by Jim Parkin from Fotolia.com
