There really are not too many options for getting out of an RV loan. You will need to either pay it off or file a bankruptcy.
An RV loan calculator is used to determine your payments based on the amount of the loan and the length of the loan. It will give you an idea of how much you will be paying for the RV.
Main Entry: backward Part of Speech: adverb Definition: Toward the back. Synonyms: about, around, back, rearwardMain Entry: back Part of Speech: adverb Definition: In or toward a former location or condition. Synonyms: about, around, backward, rearward, round If you mean going backwards like a car, "reverse" is the word you are looking for.
ya of curse you can use the upside down car loan for buying a new car...
Yes, you are responsible for the loan amount (you signed the papers for the loan)
Assuming the vehicle is repossesed and sold to satisfy the debt, you will still be responsible for any debt remaining after the sale. It all depends on whether the vehicle is worth more than the remaining debt. If you are "upside down" in the loan you are liable for the difference.
if the loan is through the bank then have the person who is buying pay off the rest of the loan.
As long as we are talking about the loan being upside down, not the car:Yes you can trade it,BUTIt is not recommended as you will pay a large penalty in extra interest.
turn it right side up stupid, everyone knows that.
"There are several places one can start looking for an RV loan. If you are employed or retired, you can look into your companies employee discount program to see if they have a discount on RV loans. If you are over 50 years old, you can join AARP, whether or not you are retired, and use their RV loan program. Joining an RV club or searching the internet are also good places to start looking into getting an RV loan."
Yes. It is referred to as "upside down" financing.
If you are upside down with your car loan, meaning you owe more on it than what it is worth, you will need to pay the deficiency. That means if you owe $11,000 on your car and it is worth $9,500, then you will need to come up with $1,500 to erase the deficiency.Keep in mind that this may only be the first step. You may also need to come up with a down payment on top of paying the loan deficiency. If you do not put money down and are still approved for a car loan, then you will find yourself upside down with your new car.
Default on an RV loans is a serious consequences. Besides losing your RV, your credit score is affected negatively and you will most likely still owe the bank money. It is good to avoid defaulting on your RV loan.