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Has anybody had luck financing an RV after bankruptcy?

AspiringDink1991
Valued Member

Has anybody had luck financing an RV after bankruptcy?

Since the gov/inflation/and older generations have stolen the "american dream" from everyone born after 1990. I must resort to an RV as an "affordable" home. will never be able to afford a 3 bed 2 bath white picket fence brick home. So looking at other options, Will lenders not even touch me since I have filed bankruptcy, even though my income will well and i mean well support an RV? $400-$600/ month as opposed to a same sized apartment for $2000/ month



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Message 1 of 13
12 REPLIES 12
GreatLife
New Contributor

Re: Has anybody had luck financing an RV after bankruptcy?

Hopefully not "older generations" that worked their own way thru college or trade schools, paid for their kids college educations, toiled decades for mortgages & real estate taxes, accepted increasingly high income/social security/medicare taxes, paid childcare expenses, raised families while working with no FMLA guarantees, took care of aging parents, paid their bills without filing for bankruptcy, picked themselves up by the bootstraps and didn't complain.

Are you referencing those people?

Message 2 of 13
Jnbmom
Community Leader
Super Contributor

Re: Has anybody had luck financing an RV after bankruptcy?


@GreatLife wrote:

Hopefully not "older generations" that worked their own way thru college or trade schools, paid for their kids college educations, toiled decades for mortgages & real estate taxes, accepted increasingly high income/social security/medicare taxes, paid childcare expenses, raised families while working with no FMLA guarantees, took care of aging parents, paid their bills without filing for bankruptcy, picked themselves up by the bootstraps and didn't complain.

Are you referencing those people?


💯 I was born way before the nineties 

 

 

Since the gov/inflation/and older generations have stolen the "american dream" from everyone born after 1990 what  an insult 😳

EXP 780 EQ 791TU 795
Message 3 of 13
Horseshoez
Valued Contributor

Re: Has anybody had luck financing an RV after bankruptcy?


@AspiringDink1991 wrote:

Since the gov/inflation/and older generations have stolen the "american dream" from everyone born after 1990. I must resort to an RV as an "affordable" home. will never be able to afford a 3 bed 2 bath white picket fence brick home. So looking at other options, Will lenders not even touch me since I have filed bankruptcy, even though my income will well and i mean well support an RV? $400-$600/ month as opposed to a same sized apartment for $2000/ month


Sorry, not sure what you use as a source of information, but I call B.S. in basically everyting you wrote about the "older generations".  I'm one of those older folks, I grew up rather poor, enlisted in the Marines shortly after the Vietnam thing ended, managed to get in some college along the way (no degree), and built a life for myself.  It wasn't easy, but I made it.  My request is you lose the attitude about the hard working generations older than yourself, buckle down, and quit blaming others for your challenges.

I categorically refuse to do AZEO!
Message 4 of 13
Jnbmom
Community Leader
Super Contributor

Re: Has anybody had luck financing an RV after bankruptcy?

@Horseshoez 

Thank you for your service ❤️

EXP 780 EQ 791TU 795
Message 5 of 13
Rogue46
Established Contributor

Re: Has anybody had luck financing an RV after bankruptcy?

Oh boy..





Message 6 of 13
Linnaea
Regular Contributor

Re: Has anybody had luck financing an RV after bankruptcy?

Gas Light much?

 

I think many people are struggling.  I know because friends and family keep reaching out to me for help and I'm struggling.  Many have gone  their entire lives scraping and clawing.  What is weird is I never blamed generations before us...

 

You can only be a victim if you give that power to someone over you.   That seems to be the theme these days .. who can be the biggest victim.  

 

You seem to be hurting and lashing out.  

I'm sorry and I understand.   Life is a series of ups and downs.   Life is difficult.  

 

Personally, I wouldn't buy an RV to live in

They depreciate and you pay higher interest rates.   Unless it's super inexpensive. 

ALL generations are struggling as well.  Maybe there is someone that is looking to share their home to supplement their income.   Then when this economy gets better you can buy a home.   I'm just spit balling.  

 

I myself thought of just selling everything to live in a tent or another country.  I know where to place the blame.   I will tell you it's not the older generation.  It's more wicked than that.... but this is not the forum to post that... 

 

Positive thoughts and discipline beget positive outcomes.   Success comes after failure.   

 

Don't give up.  Don't be finger pointing in a blanket statement against generations before you.   It's not productive.   

 

Again, I mean to be only thoughtful and kind.  Hugs you must be going through rough time.   Just don't give up.   Keep trying.   Ill pray and send positive vibes.   Just don't play victim.  Think outside the box.   

Message 7 of 13
Brian_Earl_Spilner
Community Leader
Mega Contributor

Re: Has anybody had luck financing an RV after bankruptcy?

Let's please bring this thread back on track and focus on the purchase of an RV after bk. 

    
Message 8 of 13
Rogue46
Established Contributor

Re: Has anybody had luck financing an RV after bankruptcy?

I don't know the answer to your question but I would guess banks look at recreational vehicles along the lines of boats, dirt bikes etc so the chances of being approved would seem less likely being it's not a "need" like a car but more a "want".





Message 9 of 13
CreditCuriosity
Moderator Emeritus

Re: Has anybody had luck financing an RV after bankruptcy?

I assume you could get approved although would take a decent chunk down likely depending what term you are looking for 10-15 yr loan and interest rates would likely be 9-20% which would push your payment way up beyond what your 600-800 range likely.   RV's by no means are cheap as sister and her husband are currently looking at a full blown bus type RV currently and rates with perfect credit are around 8%ish not to mention a several hundred thousand 200-300k RV(used few years old) in her case.  Just all depends what you are looking at price range for your down payment and monthly payment.

Message 10 of 13
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