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Rosebud64 10-30-2010 09:05 AM

Horse Trailer Financing
 
I was wondering if several people could answer me on these questions in regards to horse trailer payments. I am just starting to look for a new/used trailer.

1. How much is your monthly payment and how much did you finance? Was the trailer new or used?
2. What was the interest rate? Anyone know what the current interest rate (ballpark) is for horse trailers?
3. How many years did you finance it for?
4. How much did you have to put down?

You can PM me or email carverbrittanys@yahoo.com.

Thanks!

churumbeque 10-30-2010 01:51 PM

Quote:

Originally Posted by Rosebud64 (Post 799683)
I was wondering if several people could answer me on these questions in regards to horse trailer payments. I am just starting to look for a new/used trailer.

1. How much is your monthly payment and how much did you finance? Was the trailer new or used?
2. What was the interest rate? Anyone know what the current interest rate (ballpark) is for horse trailers?
3. How many years did you finance it for?
4. How much did you have to put down?

You can PM me or email carverbrittanys@yahoo.com.

Thanks!

All of these answers will be different depending on your credit. I borrowed 25K with no money down on a used trailer. I think my rate is around 7%. I rolled a tractor loan into it so actually borrowed more so payment isn't reletive but I pretty much could set the loan up however long I wanted to keep the payment where I wanted.

Reiterin 10-30-2010 05:34 PM

yeah, I agree, it'll be different for everyone. I paid ~half down (just because I had the money in my savings for it) and set up a loan with my own credit union for the rest (just to build up my credit.) I had a few different options for how many years in which to pay it off. I chose to set up the payment so that I would have it paid off in the least amount of time possible. Which, of course, made the monthly payments a little higher.
(New trailer)

wyominggrandma 10-30-2010 11:13 PM

All depends on your credit history and score and your lending bank as to what the rates and payments are. Usually the newer the trailer the longer you can take to pay it back... Some trailer places also do their own financing, but usually the rates are higher with them than a credit union or bank.

Rosebud64 10-31-2010 09:08 AM

I know it all depends. But, I was just trying to get some general answers to see where people were at.

churumbeque 10-31-2010 09:31 AM

Quote:

Originally Posted by Rosebud64 (Post 800754)
I know it all depends. But, I was just trying to get some general answers to see where people were at.

Yopu can do loan calculaters on line and put in what amounts you want to borrow and change the terms and rates to get an idea. We have no idea if you want a 2000.00 dollar traioer or a 50,000 and what you have to put down

PaintHorseMares 10-31-2010 09:36 AM

Here are the current rates from our credit union.

Other Secured
(motorcycle, horse trailer, towing vehicles, tractor)

New - 6.75% - 5 years
Used - 9.25% - 5 years

Amarea 10-31-2010 09:41 AM

1. How much is your monthly payment and how much did you finance? Was the trailer new or used?

I financed $4500 for a used 2003 Titan Avalanche II. My payments are less than $150.

2. What was the interest rate? Anyone know what the current interest rate (ballpark) is for horse trailers?

7% but the rate is based on your credit

3. How many years did you finance it for?

3 years

4. How much did you have to put down?

Nothing.

It all really depends on your bank. I had received rates/payments MUCH higher from several banks. I went to the credit union where I have my car financed and they issued the loan on the spot for FAR less interest and payments than anyone else would.

Good luck!





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