RV Rental Guide
Rent Recreational Vehicles

Biweekly payments for a Recreational Vehicle loan?

I'm planing on purchaseing a boat before summer, and paying for it with a Recreational Vehicle loan. My question is has anyone heard of getting payments for a Recreational Vehicle loan set up in a biweekly electronic draft? Is it common? Do most banks that a dealer would set up financeing through likely support it?
Boats keep there value way more then Cars do. We just sold our old boat 3 years after we bought it for the same price we bought it for.

Public Comments

1. visit dave ramsey.com to learn ur hard lessons from others bigger mistakes.

why not rent a boat - it is cheaper unless u plan on living on the boat.
boats go down in value worse than cars while u pay more in interest than it is worth.
financially smart?

yes it is becoming common for biweekly drafts. not the best for u but great for them.

2. I am not certain what - if any - lender offers biweekly autodrafts. I am simply wanting to comment on robert w's reply...

I agree (somewhat) with robert w about the severe drop in boat values but would never suggest that you rent instead of own just to avoid it. If you want a boat - buy a boat!

If you don't care about the hit go to a dealership and knock yourself out. If you would like to avoid the hit - there are many ways to find great deals on used boats and RV's. For example:

http://www.used-fishing-boat-sale.com/
http://www.used-power-boat-sale.com/
http://www.used-sail-boat-sale.com/
http://www.used-RV-sales.com/

As for the loan issue... I have always been a fan of going to my credit union and getting a blank check loan. I find that it gives me more power in negotiating since it is just like paying cash from the dealer's perspective and the rate offered through my credit union is ALWAYS better.

Good luck!

3. well i have never heard of it but i do not understand what would be the problem == i am sure most banks would work with you on this time of arrangement!!!

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