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Thelovingnomads

California

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Posted: 03/10/20 04:41pm Link  |  Quote  |  Print  |  Notify Moderator

Hi there! Looking for any information or advice on financing when purchasing from a private seller. Would love recommendations of companies to go with and any other information anyone could provide. Thank you in advance.

Lwiddis

Mojave, Kern County, CA

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Posted: 03/10/20 04:49pm Link  |  Quote  |  Print  |  Notify Moderator

Has the private seller allowed you to review their financing contract? Which you should read twice, slowly. If the financing party isn’t a pro, I guarantee the contract will not comply with California law.


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PastorCharlie

NC

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Posted: 03/10/20 05:07pm Link  |  Quote  |  Print  |  Notify Moderator

Your bank or credit union.

Lwiddis

Mojave, Kern County, CA

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Posted: 03/10/20 05:20pm Link  |  Quote  |  Print  |  Notify Moderator

The pastor is right on. Work with the pros, not the amateurs.

Turtle n Peeps

California

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Posted: 03/10/20 05:50pm Link  |  Quote  |  Print  |  Notify Moderator

I went with my credit union.

Interest rate was super high as a personal loan but good as an RV.

Most if not all banks or CU's will not loan on an RV over 10 years old.

Good luck!


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Mickeyfan0805

SE Wisconsin

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Posted: 03/10/20 06:42pm Link  |  Quote  |  Print  |  Notify Moderator

Yep - Bank or CU. They will work you through the process easily and properly. I bought a truck in NY when living in MA and financed through my local bank with ease.

Thelovingnomads

California

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Posted: 03/10/20 07:09pm Link  |  Quote  |  Print  |  Notify Moderator

Lwiddis wrote:

Has the private seller allowed you to review their financing contract? Which you should read twice, slowly. If the financing party isn’t a pro, I guarantee the contract will not comply with California law.



The private seller owns the RV out right

jdc1

Rescue, Ca

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Posted: 03/10/20 07:31pm Link  |  Quote  |  Print  |  Notify Moderator

The price is right? You had it thoroughly inspected? Your wife is on board? The terms fit your budget? The seller seems honest? Buy it.

westernrvparkowner

montana

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Posted: 03/10/20 09:06pm Link  |  Quote  |  Print  |  Notify Moderator

My interpretation of the post is they are looking for a source of financing, not wanting opinions on the seller financing their purchase.
If that is the case the options are pretty much their bank, their credit union, a home equity loan or an unsecured personal loan. The only national bank I know of that does RV loans is Bank of the West. They have a lot of criteria, but might be an option on a newer RV.

time2roll

Southern California

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Posted: 03/10/20 09:21pm Link  |  Quote  |  Print  |  Notify Moderator

I agree best to go with your bank. Check first what your bank will do.

If you strike a deal just drive the MH, seller and title to your bank and close the transaction.


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