RV Loans
- Thread starter Texxags
- Start date
jnbhobe
Well-known member
Do it with a home equity loan then you can deduct the interest or claim it as a second home.
SJH
Past Washington Chapter Leaders
I am far from a tax expert but I don't believe it has to be a Home Equity Loan in order to qualify for a deduction. Worth checking into regardless! HERE is a start. As far as lender rates go, try letting your RV dealer work for you. When we set up a purchase package, the dealer had three or four different lenders available we simply went with the lowest one!
Brandon.Prewitt
Active Member
The RV lot couldn't beat my Credit Union, don't forget to try your own bank first.
pegmikef
Well-known member
Ditto. My credit union has cheaper loan rates on almost all types of loans except 1st mortgages.
GOTTOYS
Well-known member
mikeandconnie
Well-known member
Good Sams have some good rates listed. Here the link https://www.goodsamrvloans.com/
Ray LeTourneau
Senior Member - Past Moderator
Another vote for your local Credit Union. Better rates and auto deduct from your savings or checking.
Brandon.Prewitt
Active Member
You beat me Nabo, I got 3.75 for 5 yrs.
Not sure what you mean by full timer. I'm buying this for my young family. We have a small travel trailer currently. We are upgrading so my kiddos can bring friends along. We can't wait as a family.
JohnDar
Prolifically Gabby Member
Full-timer is someone that lives in their trailer "full time," meaning they don't have a stationary home to go to. They live the nomadic lifestyle, wandering from place to place, usually following warmer climates cuz their old bones can't take a chill anymore
.Bank of the West holds my note, they beat my creit union and the credit union has good rates for autos.
You should not have to pay for a RV with a 2nd (to write off the interest) unless the rules have changed, in the past I was told that you had to have a primary (stick built) home to be able to write off an RV or boat (which I did with a TT and a 2nd). If anyone knows if you can just write off the RV without a stick built home please let me know as I will be 'full timing' it when not on corporate paid travel.
You should not have to pay for a RV with a 2nd (to write off the interest) unless the rules have changed, in the past I was told that you had to have a primary (stick built) home to be able to write off an RV or boat (which I did with a TT and a 2nd). If anyone knows if you can just write off the RV without a stick built home please let me know as I will be 'full timing' it when not on corporate paid travel.
cooknsharry
Member
Well I will find out myself this year, everyone says I can write off the interest on my new bighorn! not sure where to do it on turbo do not see any drop boxes for it?
Ray LeTourneau
Senior Member - Past Moderator
It's part of the section where you itemize deductions.
JohnDar
Prolifically Gabby Member
It's in TurboTax. I use it every year. Just follow the questions when filling out the return. If the loan company sends you a Form 1098, just include it with your home mortgage interest on line 10, Schedule A. No Form 1098, put it on line 11. It's in the Interest You Paid section, although the line numbers may change from year to year.
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