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A short term loan like what the name suggest is given for a short period of time say 1 month or maximum of 60 days. Being short term in nature, the rate of interest on the amount so borrowed is very high. On an average, one can avail at a maximum of $1500 dollars in short term loans and not more than that.
How long is the financing term for a new travel trailer? The loan term for travel trailers depends on the amount financed and the trailerâs age. The average term for recreational trailers between $25,000â99,000 is eight to 15 years. Trailers qualifying as a residence and financed at $100,000 or higher are typically financed with a 20-year term. Most lenders wonât finance less than $7,500 for a trailer loan. Some may even require a minimum loan of $25,000.