Refinancing Negative Equity

Don't Let an Old Loan Keep You From the Right RV.

It is a common scenario: You bought an RV a few years ago, but your family has outgrown it (or you want to downsize). When you check the trade-in value, you realize you owe more to the bank than the unit is currently worth.

This is called having "Negative Equity" (or being "upside down"), and it stops many people from upgrading. At Leisure Days RV Group, we specialize in helping customers trade out of this situation and into a unit that fits their lifestyle.

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Retail Consumer Credit Application

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RV interested in:

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How We Fix It

We can often take the difference between what you owe and what your trade is worth and "roll it" into your new financing plan.

Why This Works

Longer Terms: By moving the remaining balance of your old loan into a new 240-Month Term (20 years), we spread that debt out over a longer period. Often, this results in a monthly payment that is the same (or even lower) than what you are paying now.
Loan-to-Value (LTV): Banks will often lend up to 120% or 130% of a new RV's invoice price. This "extra room" allows us to absorb your old debt into the new asset.
Lower Rates: If you financed your old RV when rates were high or your credit was lower, refinancing into a new "Prime" rate loan can save you significant interest costs, helping to offset the negative equity.

Should You Trade?

While carrying negative equity isn't ideal, it is sometimes the smartest financial move.

Maintenance vs. Payment: If your old RV is out of warranty and requires expensive repairs, it often costs less to carry a slightly higher loan balance on a new, warranty-covered unit than to keep fixing the old one.

Step 1: Know Your Numbers

The first step is knowing exactly where you stand. We need to evaluate your current trade to see how much negative equity exists.

Step 2: Get Pre-Approved

Once we know the numbers, we can structure a deal that absorbs the old balance.

Get Pre-Approved Today.