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 > Horrible Good Sams/ Bank of the West Financing

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mhbbardva

Virginia

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Posted: 11/05/19 08:54am Link  |  Print  |  Notify Moderator

I have been dealing with financing of many types. I have never experienced such lies and deceptions as my last RV finance. After a line of very specific questions I decided to pay a little higher rate to Good Sams over their competition because the preowned RV I was purchasing was currently financed by the owner. I elected to make the transaction as streamlined as possible. I confirmed that they held the paper title and the time frame required to complete the transaction before I processed the application. Every aspect of the loan was a complete lie in the end. They did not in fact have the paper title and it took 3 weeks in order for me to legally drive my 100K RV. Then to top it off they lowered their rate the day I settled and refuse to honor the rate reduction. Never again.

CA Traveler

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Posted: 11/05/19 09:06am Link  |  Print  |  Notify Moderator

To many folks buy a RV based on their car buying experience and don't know what they are walking into.

For RVs one should do their own and very complete Pre Delivery Inspection (PDI). And once you drove off the lot you owned it. And that is the second most important consideration: Your rate when up and RV buyers should always be emotionally prepared to walk including from the best possible deal.

In many cases a 30 day temporary registration is issued but I'm not familiar with VA requirements.

But agree that you did not have a good experience.


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mhbbardva

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Posted: 11/05/19 09:27am Link  |  Print  |  Notify Moderator

Not the situation. It was a private sale from a neighboring state. I have a credit rating over 800. I had a much lower rate from a competitor but they told me upfront that it would take 30-60 days to produce a title and tags because the title would have to come from the sellers finance company. The seller had let the tags expire so the RV could not be driven. He was able to obtain a one time 10 day tag for the PDI. That all went fine. Virginia does not offer a temp tag without a title. I specifically called Good Sams/ Bank of the West to confirm they held the paper title and would release it promptly after settlement. I was told they did in fact have it and it would take a week.
Docs were completed and settlement was complete on a Monday. The following Monday was a holiday. I called that Wednesday to confirm my title was in route. I was told the processor was out of town and it could be several weeks because they did not have the paper title. It was all lies to get my loan. The customer service ceased when I signed on the bottom line. Then while trying to find a number to contact someone I noticed the rate lowered by 1/2% that Monday I settled. I asked Good Sams to consider lowering my rate to the new rate and they refused.
Really poor customer service.

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Posted: 11/05/19 10:46am Link  |  Print  |  Notify Moderator

Hello mhbbardva,

I apologize for the experience you have had with Good Sam financing. Please allow us to look into this matter further, if possible provide your contact number in a private message.

Thank you,
Ella
Good Sam Customer Care Team

janstey58

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Posted: 11/05/19 10:54am Link  |  Print  |  Notify Moderator

When we bought our $200K MH at CW in Oklahoma City 3 years ago, I considered using my bank back home for financing for a better rate, but the CW finance manager said they would have to up the price on the MH if I did that. They would not honor the agreed upon price unless I financed with them!! Never again!!


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westernrvparkowner

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Posted: 11/05/19 11:31am Link  |  Print  |  Notify Moderator

Just a fact of life with any large company. Titles held by banks (and in many states the bank does not hold the title) are centrally filed along with acres of other paperwork. The nameless gofer who retrieves those titles isn't going to bump anyone to the top of the list, isn't going to work faster than their normal pace, aren't going to skip lunch or breaks to get that title out quickly. Plus, the authority to release that title isn't going to occur instantly. It will go thru channels with all the other gigabytes of information transmitted every day. To me, getting a title in three weeks would be an unexpected bonus outcome.

mhbbardva

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Posted: 11/05/19 12:05pm Link  |  Print  |  Notify Moderator

I understand that BUT I called and qualified all of this and my expectation PRIOR to making my loan commitment and was lied to that they would walk this through. Without that commitment I would not have done the loan with them. I don't know anyone who would willingly let a 100K plus RV sit unused for 4-8 weeks waiting for a title and tags.

delwhjr

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Posted: 11/05/19 12:07pm Link  |  Print  |  Notify Moderator

janstey58 wrote:

When we bought our $200K MH at CW in Oklahoma City 3 years ago, I considered using my bank back home for financing for a better rate, but the CW finance manager said they would have to up the price on the MH if I did that. They would not honor the agreed upon price unless I financed with them!! Never again!!


They are not the only ones who play that game. RV Wholesale in Ohio plays that way as well.

Go to your bank or CU and do a refinance. You can usually get a better rate and you are no longer with the other.


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Jayco-noslide

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Posted: 11/05/19 12:57pm Link  |  Print  |  Notify Moderator

I mean no criticism to anyone but seems like a good time to put in a plug for having a goal of being debt free. This would mean no RV, car or anything else unless it can be bought for cash. We 1st accomplished this around 15 years ago by using some savings/investments to pay off an ill advised home equity loan that had been used to buy a truck and 5th wheel. I begin to see that the loan was rediculous as we will never get it paid off before the value of the stuff is less than the loan balance. We've never looked back and have since purchased a 10 year old MH and 2 used cars; no loans. The benefit just multiplies because you can save or use all that cash that was going for payments and interest. We are seriously not wealthy so it is possible.


Jayco-noslide

rr2254545

Central Minnesota

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Posted: 11/05/19 02:38pm Link  |  Print  |  Notify Moderator

Jayco-noslide wrote:

I mean no criticism to anyone but seems like a good time to put in a plug for having a goal of being debt free. This would mean no RV, car or anything else unless it can be bought for cash. We 1st accomplished this around 15 years ago by using some savings/investments to pay off an ill advised home equity loan that had been used to buy a truck and 5th wheel. I begin to see that the loan was rediculous as we will never get it paid off before the value of the stuff is less than the loan balance. We've never looked back and have since purchased a 10 year old MH and 2 used cars; no loans. The benefit just multiplies because you can save or use all that cash that was going for payments and interest. We are seriously not wealthy so it is possible.


Really was not a good time to brag to OP - we all can not be like you


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