Disneyfix
On Golf Course
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If you used financing...what did you do and what did ya learn. I'm not even sure what questions to ask. I'll figure that out as thread goes along.
Thanks,
Chris
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viajante
Plumas Lake, CA, (near Yuba City) USA
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Don't get financing from the dealer. We just re-financed through Good Sam (actually Essex Credit) and dropped our rate 2.25%. They were surprisingly easy to deal with.
Dave & Brenda
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accsys
Green Cove Springs, FL
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viajante wrote:Don't get financing from the dealer. We just re-financed through Good Sam (actually Essex Credit) and dropped our rate 2.25%. They were surprisingly easy to deal with.
Getting financing from a dealer is not always a bad idea. I have always used my credit union (for seven previous cars and one motorhome) of which I have been a member for over 30 years and I have a credit score in excess of 800 but the dealer financing onmy current coach through BB&T beat my credit union by over 3%. The loan officer was really surprised the loan committee wouldn't meet BB&T's rate. I was equally surprised as my credit union had always beat everyone else by a substantial amount.
You have to do the work and compare rates with two or three of your favorite financial institutions.
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rr2254545
Minnesota/New Mexico
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viajante wrote:Don't get financing from the dealer. We just re-financed through Good Sam (actually Essex Credit) and dropped our rate 2.25%. They were surprisingly easy to deal with.
Not always true my dealer got me 4.5% last November from Bank of the West Beat my credit union by 1.5%
Why not use a dealer when they can save you money
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johnsonbert
Houston, TX-Ironwood, MI
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We used the credit union 2 years ago as it was quick and a signature only needed. We refinanced last November, 2011 with Essex, owned by Bank of the West by the way, for 4.35. We gave the credit union a chance to come from 7 to 5 and we would stay, there answer was "we do not refinance our own loans" and so I went with Essex. Hope this may help, Happy Trails Bert
* This post was
edited 03/25/12 07:55pm by johnsonbert *
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bob_nestor
murphy
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Sometimes the dealer can get you better finance rates than banks or credit unions so it's best to check all options. The one thing that nobody has mentioned is loan duration. RVs can be financed much like homes, i.e. for 15 or 20 years, maybe longer. But RVs depreciate much like cars and people who finance for them on these longer terms may quickly find themselves underwater on the loan. My suggestion is to finance for the shortest term you can comfortably live with so if you ever want to sell or trade you can avoid being underwater on the remaining balance.
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wallynm
Los Alamos NM
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Simple refinance your house at say 3.75% or so then pay it off like you financed for 10 years. Next best thing to cash.
Disneyfix wrote:If you used financing...what did you do and what did ya learn. I'm not even sure what questions to ask. I'll figure that out as thread goes along.
Thanks,
Chris
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Jackha1949
Any Where USA
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If you dropped your rate by 2.25% what percentage rate did you get?? We are looking at 4.99%, did you get better?
Jack & Peg
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Sioux Falls, SD
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rk911
Wheaton IL
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there's no absoloute when it comes to financing. sometimes the dealer can get a better rate, sometimes not. it pays to shop around but be sure to compare apples to apples. and be sure to ask if there is an early payoff penalty (you don't want one). it's a good idea to put enough down to stay right-side-up during the term of the loan.
good luck.
73,
rich, n9dko
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univmd
Maryland
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We have it through Pentagon Federal Credit Union for 3%.
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