Contract for Deed?

[Nanylora]

Is it possible to buy a truck or RV by "contract for deed" like some houses are sold? We rent an apartment and don't own a vehicle. I talked to an RV salesman about the possibility of a loan. I told him that it should be no problem to make payments if we went ahead and moved into the RV. He said the finance company will only consider financing the loan if you are going to be in it less than 6 months out of the year. In other words, they won't consider the money we presently spend on rent for payments.

Right now there are four adults in our household as my husband and I still have two adult daughters living with us. This pretty much means a small van is out of the question, unless they can move out.  

My husband recently retired on Social Security, so we do have a sure income, it's just not enough for rent AND vehicle.

 

[cyndi]

It's true, most banks/lenders won't make a loan on a vehicle/RV intended for full-timing. But, I don't think they specifically ask that question, either. So you could leave that piece of information out.

This lifestyle is much easier if you go into it without debt.

Look for an affordable, used RV on craigslist and in the classifieds. A dealer is going to be more expensive than a private sale.

 

[GotSmart]

Be careful on CL.  If it sound like an exceptional deal, it is a scam.  If the person is in the military and sitting on a ship somewhere, it is a scam.

ALWAYS do a google search on the picture.

 

[Andrew68]

Are you actually looking for a rig big enough for 4 people to live in on social security?
Where are you going to park, are you thinking stealth (not), are you going to put a camper on a note and then move into an rv park?
There are way many more questions to be answered here.
4 people are not going to be stealthy, moving into an rv with 4 people, is anyone disabled is anyone working?
My answer kick the adults out and start living.
You said it not me 2 ADULT Daughters, Really, out they go, sink or swim.

Makes life easier for you and your partner to really examine the journey your going to take.


FOLKS, I am a new contributor but let me say this, rv's were not made for the large families. You can crucifie, flog, publicly admonish me later but tell the truth. This is not for everyone. 4 people, really, 2 adult daughters?
Moving into an RV is not cheaper unless you prepare for it, moving into an rv is not easier unless you prepare for it, moving into an rv does not solve your problems.
Solve your problems then move into the rv/van/trailer etc.

 

[akrvbob]

There are many used car dealers that do a "Buy here, pay here" program that they write the note and you pay them. Fairly often you will see RVs on those lots. I bought my last F150 that way and it worked etxremely well. Some are crooks, most are okay.
Bob