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Open Roads Forum  >  Travel Trailers  >  General Q&A

 > Travel Trailer Buying/Financing Questions

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Rjpoog1989

PA

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Posted: 03/15/19 06:31am Link  |  Print  |  Notify Moderator

Hello all, this is my first post here. I’ve been lurking here a while looking for info on campers. I’m looking to buy a TT for the 2020 camping season and I’m trying to plan my finances accordingly. I’ll start with these three questions and go from there.

1: Do most dealers require a down payment to finance and if so, what % is typically required.

2: From what I’ve observed, it seems the best incentives are in December. Is this an accurate observation? I’m looking to get the best price by buying at the right time.

3: it seems like Camping World has the best prices and selection. Are there reasons not to buy from them?


Researching to buy a TT before end of 2019

TV: 2014 GMC Sierra 1500 SLT / Summit White / 6.2 Ecotec III / 6 AT / Crew Cab / Standard Bed / 2 inch coil spacers / Zone AAL / BfGoodrich All-Terrain KO2 / Ranch Sierra Cap

Campfire Time

Wisconsin

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Posted: 03/15/19 06:44am Link  |  Print  |  Notify Moderator

The best prices I have seen are during and right after RV shows in are area.

The dealers require nothing as they are not the ones financing. They go through banks and credit unions just like car dealers. You might want to check out credit unions ahead of time as they seem to offer some of the best terms.


Chuck D.
“Adventure is just bad planning.” - Roald Amundsen
2013 Jayco X20E Hybrid, 2008 GMC Sierra SLE1 Crew Cab Z71


eubank

bosque farms, nm

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Posted: 03/15/19 06:49am Link  |  Print  |  Notify Moderator

Rather than financing, why don't you save the hard-earned money and purchase with cash. Start saving RIGHT NOW. If the RV is something that you really want, then it's worth more than that new smart phone, that meal out, that other new toy. Instead, put the money into a safe place (like a savings account), and do a LOT more shopping around.

Lynn


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camper1013

Twin Cities

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Posted: 03/15/19 07:17am Link  |  Print  |  Notify Moderator

You can use a dealer to finance or go to your own bank or credit union. Or shop around to find the best rates. That is what we did. You can do 0 down. Save that money now for a down payment when you buy. If we all waited till we could pay cash we might never camp.

Find the dealer that has the unit you want. doesn't matter who it is. Chances are no matter what the dealer warranty work will be out 1-2 months if needed. We had our scheduled for the end of the season and kept using it while I had a temp fix in place.

Have you considered used? Chances are you will use it and find you want something different after a season or two. Used is a cheap way to find that out without loosing big depreciation. We are on our 3rd camper in 5 seasons. If going this route get a good inspection done to find issues. I have friends that have bought used trailers and traded for more than they paid after a few years.

wanderingaimlessly

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Posted: 03/15/19 07:20am Link  |  Print  |  Notify Moderator

In answer to your questions I will in part repost a prior post ,

December as a Best time to buy may be partly correct in that some states (Virginia for one) charges dealers property tax on all units they own on 1 Jan. So dealers will sometimes try to get rid of as much inventory as possible to ease the tax bill.

Down payments will depend on two things
How good is your credit, and how high an interest rate you will pay.
Good credit will get better rates.
Larger down will also help the rate sometimes.

On price I'll repost this,,,

A huge part of the difference is the disappearance of the local dealer. Mega chains buying out the local mom & pop locations and then putting in place all the bad things from the old jokes about used car sales.
Pricing based on you being gouged in the financing, thousands of dollars in hidden fees and mandatory upgrades, and the pressure to buy now or the price will go up next week. All spouted to you by someone that likely has never used the products they are selling as experts.
Use the megastores and rv shows to decide on size and floor plan, and then narrow the field of possible lines according to your wants/needs/budget. (ie; metal or glass sided, interior finishes etc)
And then use the advanced search feature from an online sales program such as
RV Trader
or
RVT.com
And search for specifically what you want, visit the dealers websites, see which ones price their units straight up, no fees. And then compare apples to apples , out the door for what your price is.

The dealer is free to price units how they wish, as an example some may require you to use their "preferred" financing to get a sale price. Or they may add fees such as
Shipping ,,,,,,,,, $1700.00
Dealer prep ,,,,,,,,$750.00
Pre delivery insp
or walkthrough,,,,,$700.00
documentation ,,,,,$399.00

Dealers that price their units straight up are usually proud of it and say so on their websites, those that have the add on fees generally say nothing. Yes, all dealers have to make a profit to stay in business, but as the buyer, make sure you are comparing deals, Apples === Apples.

CW may have a good price on a unit, they will have fees, but if the price is enough lower it could make up the difference.

Local dealer may be convenient sometimes, but many have months long lines for poor service. And if you are using your rig when something breaks, there is a good chance you wont be close to home anyway, so "local" becomes an irrelevant term.

* This post was edited 03/15/19 07:38am by wanderingaimlessly *

SoundGuy

S Ontario

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Posted: 03/15/19 07:25am Link  |  Print  |  Notify Moderator

eubank wrote:

Rather than financing, why don't you save the hard-earned money and purchase with cash.


Same old, an answer to a question that was never asked. [emoticon] I'd bet that the vast majority of recreational vehicles are purchased with financing - not up to any one of us to tell the OP which is better for them. [emoticon]

2012Coleman

Florida

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Posted: 03/15/19 07:39am Link  |  Print  |  Notify Moderator

eubank wrote:

Rather than financing, why don't you save the hard-earned money and purchase with cash. Start saving RIGHT NOW. If the RV is something that you really want, then it's worth more than that new smart phone, that meal out, that other new toy. Instead, put the money into a safe place (like a savings account), and do a LOT more shopping around.

Lynn
[emoticon] [emoticon] [emoticon]


Experience without good judgment is worthless; good judgment without experience is still good judgment!

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Rjpoog1989

PA

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Posted: 03/15/19 07:46am Link  |  Print  |  Notify Moderator

I should have stated that I’m not interested in anything David Ramsey would say. Yes I could save money and go camping 5-10 years from now. My goal however, is to get out camping with my daughter while she’s young and get her interested in the outdoors.

I’ve looked at used, but I’ve got enough used junk laying around that I have to work on all the time. I don’t want to be fixing things when I’m trying to take a relaxing trip.

I’ve looked at rates from my credit union and will possibly use them. I have an 800+ credit score. My car will be paid off soon and I have plenty of money to make the payments.

Lynnmor

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Posted: 03/15/19 07:55am Link  |  Print  |  Notify Moderator

1. Inquire at your local bank or credit union, dealers might be able to do better because they get a kickback, but do your own homework. An RV will depreciate faster than you can pay it down if you finance the bulk of the price, so that is a treadmill that I wouldn't jump on.

2. The best time to buy is when you find the right unit for the best price, that can be any time of the year. You are the boss till you sign those papers.

3. Search and you will find many disgruntled CW customers. Let them quote you an out the door price, not the come-on prices you see in ads. Personally I wouldn't consider CW for anything beyond small items that I need right away.





Lynnmor

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Posted: 03/15/19 08:00am Link  |  Print  |  Notify Moderator

Rjpoog1989 wrote:



I’ve looked at used, but I’ve got enough used junk laying around that I have to work on all the time. I don’t want to be fixing things when I’m trying to take a relaxing trip.


You have a lot to learn about finance and RV's. I buy with cash so I have money to repair and modify the NEW trailer so it is slightly usable.

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