About financing

[SolarSoda]

This is exactly my second post, I haven't even uploaded a picture for my profile yet, lol. But things are changing fast in my life right now, and my question is more important than getting my profile just right. 

My husband and I are being forced to move - our landlord, whom we love, she's the best landlord we ever, ever had - sold the home we rented from her for 5 years. I somehow managed to get my hubby on board with the idea of mobile living. 

Here's the problem: we don't have enough of a savings to buy what we really want, and we are going to have to finance. We really do - the cost of renting around here (Fort Myers, FL) has gone far beyond what we've been able to afford in the past (one reason why the hubby realized mobile living is the way to go, although I've known that for years, lol). But we have bad credit. No bankruptcies, no terrible black marks in the usual way, but it's just not good enough to get financing. And we've already reached out to family members and they've all said no. We don't blame them; they understand we had to try. And we know we should get a secured credit card and start building up our credit that way, but that is not going to help us now. 

So my question is, how the heck do we get financing? I mean, at this point we're ready to go with a loan shark. We KNOW we're good for the money - just ask our landlord! Does anyone know of any place or person who is willing to finance people like us? Oh, and I forgot to mention I've worked the same job for the past 11 years. My job is stable. I'm rock solid as far as making the payments goes. 

Here's another detail: we own a van. A 1989 Dodge Ram B250 van. I bought it off Craigslist a couple years ago, with the intention of living in it (never happened, long story) and the lady who sold it to me said it only has 77k miles on it. But the odometer is only 5 digits long, and my hubby has been extremely skeptical of the truth of that. Anyway, it has a problem with acceleration after it's been running for about 10 minutes (it loses acceleration), and it also doesn't go into reverse. It's also been sitting in our yard for over a year with those problems. My hubby hates it, he won't consider living in it, even for a short period of time so we can save some money towards getting an RV. 

But I know, and you all know, it can be done, and that we're actually pretty fortunate to have it, especially right now. 

Oh yeah, we also have an 11-year-old pit bull mix who will be living with us. 

Any help or advice is appreciated.

 

[jimindenver]

I know in Denver that there were buy here/ pay here car lots, some with older RV's in them. They really overcharged or took advantage of those with less than stellar credit but when there is no other options....

What kind of RV were you looking at?

 

[SolarSoda]

Hi jimindenver! That's a good idea, now that you mention it I do remember seeing one in a lot like that once. I'm a firm believer in leaving no stone unturned, so we'll expand our search there. 

Ideally we'd like to get a Class B or a Class C. Bob Wells recommends Dodge and so does another YouTuber I follow. Ford engines are another one I've seen highly recommended. 

Actually what we'd love is a Toyota Dolphin. I know Toyota made other RV models but the Dolphin I've researched. People love their Dolphins, and we've seen a few already with low miles. The car we drive is an Avalon and I'm here to tell you it puts Timex to shame, lol. And it's always been cheap to fix problems, which I also read was true of the Dolphin.

 

[DannyB1954]

"Ford engines are another one I've seen highly recommended "
You gotta be kidding . Their engines have had serious problems for many years. Google Ford 5.4 problem.

I just bought a toyhauler trailer from Johnnie Walker RV in Las Vegas. It is a family run business. They got me 6% interest on a used unit. It will be through America First Credit Union.

 

[tripper]

My recommendation for living inexpensively but nicely is a truck/trailer combo. A good used 3/4 or 1 ton truck and an older trailer. Trailer can be had very cheaply, and pickup trucks are not hard to get financed on, even used. Usually interest rates are lowest if the truck is less than 10 years old. The smaller the trailer that you can comfortably see yourself living in the better, a 16ft trailer can get a lot of places, every 2 ft increment above that and opportunities to explore start going down fast. I say truck / trailer combo as pickup trucks are very easy to work on, tires and brakes on both truck and trailer are inexpensive, and you can detach the two items i.e. you can upgrade either the truck or trailer at a later time. Trailers are much easier to maintain than an RV. Tires, brakes, transmissions etc on full RVS cost a fortune.

I have to say I do really like the old Toyota RV's, first rate engines in those, and very easy to maintain, but VERY hard to find a nicely maintained one. There are some nice layouts on those Toys, and some really awful ones so be sure and take your time choosing the right coachbuilder on the Toyota if you go that route.

Around here (Tucson) many of the snowbirds sell their nice 10 year old trucks at good prices, they seem to upgrade to new ones right at the 10 year mark.

I had a class A RV I boon docked in for years, what made me give it up was the $2000 for tires that I could never afford (at the time 20 years ago), so I sold it cheap.

The great thing about truck/trailer is if the lifestyle isn't for you, just sell the trailer and you still have a great transpo vehicle. Used trucks hold their value well, newer RV's lose value crazy fast. Used trailers are already cheap. A classic good shape Toyota RV will hold its value too and get decent MPG.

Also, 4 x 4 short bed 4 door truck with shell is best, lots of storage capacity and short turning radius. 2 door better even for the short turning radius, but you will find once you have a 4 door truck you won't want to give up that back seat.

If you are semi stealth camping in cities, the Toyota is the best option.

 

[user 13531]

Nice rig you got there for sure. I like your thought process on the truck/trailer combination. I'm picking up a 4300 lb. Jayco next week. Don't have my tow vehicle yet but its going to be a toyota offroad 4x4 with a 6700 lb tow capacity. I like to explore, 4WD, hike and bike and the truck/trailer combo fits my life style to a tee....

 

[jimindenver]

I like my trailer/truck set up but I considered going to a motor home of some sort simply for the ability to jump in the drivers seat and go.

 

[SolarSoda]

Wow, thank you for the detailed response! I really appreciate it. We live in Fort Myers, FL (don't remember if I mentioned that), so I imagine we're in much the same boat as far as the snowbirds and their RVs go. 

We will definitely be stealth camping here because of my job. One day I hope to detach myself from that and do work I can do anywhere. Then we'll definitely give that truck/trailer option more thought. 

About the trailer: do you mean a 5th wheel? Or the type of trailer we'd have to customize?

 

[Txjaybird]

Here's another detail: we own a van. A 1989 Dodge Ram B250 van. I bought it off Craigslist a couple years ago, with the intention of living in it (never happened, long story) and the lady who sold it to me said it only has 77k miles on it. But the odometer is only 5 digits long, and my hubby has been extremely skeptical of the truth of that. Anyway, it has a problem with acceleration after it's been running for about 10 minutes (it loses acceleration), and it also doesn't go into reverse. It's also been sitting in our yard for over a year with those problems. My hubby hates it, he won't consider living in it, even for a short period of time so we can save some money towards getting an RV. 

But I know, and you all know, it can be done, and that we're actually pretty fortunate to have it, especially right now. 

Oh yeah, we also have an 11-year-old pit bull mix who will be living with us. 

Any help or advice is appreciated.

I am no mechanic.  Will the van start?  I suggest starting it and checking the tranny fluid.  Sometimes a vehicle will not go into gear and it may be that the gear indicator linked to shifter is a little off, maybe if it's nudgged just a little to the R. or L while staying in the reverse indicater it might shift?  Be sure and keep a foot on the brake.  I drove in Dallas TX for a year with no reverse in a 1955 4dr Buick Special.  I had to be very careful about parking and staying off of deadend streets. There is a forum here for vehicle problems.  You will probly get some good/better help if you start a thread there on the dodge van.  Maybe you can use it as a trade in?

Twice I've bought travel trailer's without having a tow vehicle.  Both times either the dealer or seller delivered them at no charge.  Maybe if you want a TT and can't tow it you can find a cheap place to park and live in it.  Several mos. ago on CL there in FL someone was giving away a gorgous park model TT.  CL also has a barter section and wanted section.  Maybe you can find something there.

I went from no credit to a gas card {marathon}, then$350 short term loan from a finance co.,   then a few mo. later a Visa from my bank and 
then a loan to buy my T.T.     This is the way a banker told me to rebuild my credit and it worked.  I bought the Aliner from Panhandle RV in Mariana FL. the owners name is Shorty, he has a finance co. he works with however I went thru Wells Fargo where I bank.

I hope things work out for you guys

Jewellann

 

[Goshawk]

There is no such thing as a cheap 3/4 or 1 ton truck. If it's cheap it is likely to be poor quality. Better to look at 1/2 ton and get a newer truck if you can. Then get a smaller trailer to tow.


Sent from my iPhone using Tapatalk

 

[steamjam1]

My advice to anyone with not so good credit, and wants to improve it, is to get a FICO score report and see exactly where you stand before you make ANY decisions on what to do about it. Then get an American Express card. I swear by AMX..

On your '89 Dodge.. I own one as well. The reverse not working means its reverse band in the transmission is out, and you'll have to replace it, or have it rebuilt.

Losing power after 10 min.. Check the catalytic converter first. These things love to clog up on Dodges.

As a dude who just got himself through all the perils of credit repair, I would recommend NOT getting in debt unless you really really had too. Even if you layed out the money to have the cat and tranny replaced on your dodge, it will be CHEAPER then the interest you'll pay on a loan to buy an RV by a LONG MILE.

 

[bullfrog]

What ever you get it probably won't be the last RV you get if you stay with the lifestyle. Having a positive first experience is important but not as important as getting out of debt. If I understood correctly you have been in one place at one job 11 years so odds are you would do better to test and try to change a little at a time as new ways take some adjusting to. I agree with the comments above that old travel trailer are probably the cheapest and easiest to come by, maybe even trade your van for one. Use friends or rental truck or tow service to move trailer. Look for parking doing security or camp host or some small job after hours in exchange for site with hookups, they are out there if you ask and look. Maybe pay a little at a friends or families house to park.

 

[Gunny]

If you check the Dallas Craigslist RV section you will see a couple of ads for dealers that finance. I am sure the down payment is high as would be the interest rate but it might be an option.

Good Luck, Rob

 

[SolarSoda]

This is a response to steamjam1: 

Thank you so much for your reply! I just realized I never replied to Jewellann's post earlier. Hopefully I'll get to that today. 

You are ABSOLUTELY RIGHT about fixing up the Ram van being cheaper. But my hubby absolutely refuses to spend any time in that thing, never mind living in it. He hates it. So that's out of the question (however I haven't given up hope that he can be persuaded in the other direction). He believes it's full of mold and bugs. But yes, I fully agree fixing up that van would be the smartest thing we can do in our situation. He just hasn't had that revelation yet. The van is at our mechanic right now. He's had a heck of a time trying to get the engine to turn over to even start it. He's hoping to have better luck tomorrow (Monday) and be able to finally give me his assessment of it once he can give it a test drive and a thorough checkover. So there's that. 

As far as my credit goes, I have checked my credit report recently using Credit Karma, as well as annualcreditreport.com. I've read Suze Orman's books, listened to Dave Ramsey, among others. I know what I need to do to get my credit scores back up, I've just been very lazy about it quite frankly. And now it's biting me. 

Anyway, I appreciate the suggestions! I hear ya about the AmEx card - it keeps you honest because you have to pay the balance in full each month. That can be a good thing in the right hands ... or a dangerous thing in the wrong hands, lol.

 

[SolarSoda]

Responding to bullfrog: 

Thank you for your reply and suggestions! I will look more into the travel trailer. 

I'll be honest: I'm not exactly sure I know what a travel trailer is, as I've mainly been focused on vans and/or RVs. Are those like fifth wheels? I know I could Google it, but I want to be sure I know what this community is talking about.

 

[SolarSoda]

Gunny - 

Thank you for the tip! I'll definitely look into it.

 

[Gunny]

A travel trailer is usually considered a bumper pull trailer, leaving the bed of the truck open for other items. I just bought a small trailer but they come in many sizes and weights..

Rob

 

[Mobilesport]

My recommendation for living inexpensively but nicely is a truck/trailer combo.  A good used 3/4 or 1 ton truck and an older trailer. Trailer can be had very cheaply, and pickup trucks are not hard to get financed on, even used. Usually interest rates are lowest if the truck is less than 10 years old.  The smaller the trailer that you can comfortably see yourself living in the better, a 16ft trailer can get a lot of places, every 2 ft increment above that and opportunities to explore start going down fast. I say truck / trailer combo as pickup trucks are very easy to work on, tires and brakes on both truck and trailer are inexpensive, and you can detach the two items i.e. you can upgrade either the truck or trailer at a later time.  Trailers are much easier to maintain than an RV. Tires, brakes, transmissions etc on full RVS cost a fortune.  

I have to say I do really like the old Toyota RV's, first rate engines in those, and very easy to maintain, but VERY hard to find a nicely maintained one. There are some nice layouts on those Toys, and some really awful ones so be sure and take your time choosing the right coachbuilder on the Toyota if you go that route.

Around here (Tucson) many of the snowbirds sell their nice 10 year old trucks at good prices, they seem to upgrade to new ones right at the 10 year mark.

I had a class A RV I boon docked in for years, what made me give it up was the $2000 for tires that I could never afford (at the time 20 years ago), so I sold it cheap.

The great thing about truck/trailer is if the lifestyle isn't for you, just sell the trailer and you still have a great transpo vehicle. Used trucks hold their value well, newer RV's lose value crazy fast. Used trailers are already cheap. A classic good shape Toyota RV will hold its value too and get decent MPG.

Also, 4 x 4 short bed 4 door truck with shell is best, lots of storage capacity and short turning radius. 2 door better even for the short turning radius, but you will find once you have a 4 door truck you won't want to give up that back seat.

If you are semi stealth camping in cities, the Toyota is the best option.

I'm planning  on  doing  the  truck / trailer combo also  , how many solar panels can you fit up there?

 

[Mobilesport]

My recommendation for living inexpensively but nicely is a truck/trailer combo.  A good used 3/4 or 1 ton truck and an older trailer. Trailer can be had very cheaply, and pickup trucks are not hard to get financed on, even used. Usually interest rates are lowest if the truck is less than 10 years old.  The smaller the trailer that you can comfortably see yourself living in the better, a 16ft trailer can get a lot of places, every 2 ft increment above that and opportunities to explore start going down fast. I say truck / trailer combo as pickup trucks are very easy to work on, tires and brakes on both truck and trailer are inexpensive, and you can detach the two items i.e. you can upgrade either the truck or trailer at a later time.  Trailers are much easier to maintain than an RV. Tires, brakes, transmissions etc on full RVS cost a fortune.  

I have to say I do really like the old Toyota RV's, first rate engines in those, and very easy to maintain, but VERY hard to find a nicely maintained one. There are some nice layouts on those Toys, and some really awful ones so be sure and take your time choosing the right coachbuilder on the Toyota if you go that route.

Around here (Tucson) many of the snowbirds sell their nice 10 year old trucks at good prices, they seem to upgrade to new ones right at the 10 year mark.

I had a class A RV I boon docked in for years, what made me give it up was the $2000 for tires that I could never afford (at the time 20 years ago), so I sold it cheap.

The great thing about truck/trailer is if the lifestyle isn't for you, just sell the trailer and you still have a great transpo vehicle. Used trucks hold their value well, newer RV's lose value crazy fast. Used trailers are already cheap. A classic good shape Toyota RV will hold its value too and get decent MPG.

Also, 4 x 4 short bed 4 door truck with shell is best, lots of storage capacity and short turning radius. 2 door better even for the short turning radius, but you will find once you have a 4 door truck you won't want to give up that back seat.

If you are semi stealth camping in cities, the Toyota is the best option.

I'm planning  on  doing  the  truck / trailer combo also  , how many solar panels can you fit up there?

 

[SolarSoda]

Hi Jewellann! I love your name, it's so pretty and unique!

First of all, thank you so much for taking the time to give such a detailed response. I'm grateful for all the time everyone here has given to helping me figure out my situation and give solutions. The suggestion for a travel travel is becoming legion around here, lol. I still don't know what one is. Being in SWFL, I should take a closer look at places to park it, like an RV park or something like that. I do like the idea of keeping home and motor separate; I will always love vanlife and RVs, but I do appreciate the practicality of keeping them separate too. 

Anyway, sorry it took me so long to respond. 

As for the van, it's at our mechanic right now, and he's having quite the ordeal getting the engine to turn over, let alone start it. He's been working on it for a couple weeks now (he knows it's not our daily driver so he has been giving his other customers priority, which I totally understand). 

I sure do hope to have some news to post soon. All we've been doing is packing, making trips to Goodwill, taking out trash, and otherwise trying to get financing for ... SOMEthing!