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Old 07-05-2014, 08:04 PM   #1
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Financing older MH

So wife & I are planning to upgrade from our current 1985 Fleetwood Pace Arrow to something a bit newer /nicer. A relative has a nice 1998 Holiday Rambler Endeavor & we also found a nice 2003 Itasca , both priced right.
However , so far, we haven't found anyone that does loans on RVs older than 2004.
Any suggestions appreciated, John
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Old 07-05-2014, 08:27 PM   #2
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Try your local bank. Mine had no problem with it.
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Old 07-05-2014, 09:03 PM   #3
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loans

Try a credit union. Small fee to joint then you become a member. I have found in the past they are easy to deal with.
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Old 07-05-2014, 09:21 PM   #4
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Ditto on the credit union. Used them my whole life with no regrets. Just my two cents. Pun intended.
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Old 07-05-2014, 09:53 PM   #5
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Yea , our credit union says 04 or newer
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Old 07-05-2014, 09:57 PM   #6
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We got a loan for ours thru our credit union 3 years ago when the coach was 17 yrs old. The only thing they were worried about was if the coach was a certain percentage close to mid NADA and since it was lower than low NADA they were happy. Oh yea my credit union is in MI and we bought the coach in AZ. Did all the paper work over the phone and fax in 2 days.
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Old 07-05-2014, 09:58 PM   #7
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If you own a house and have any equity built up you might try a home equity loan.

Good Luck,
Jon
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Old 07-05-2014, 10:29 PM   #8
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If you have any ties to the military, try USAA.
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Old 07-06-2014, 07:04 AM   #9
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I would just share that one of the biggest reasons coaches in this age range are such a great value is that not everyone can get them financed....
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Old 07-06-2014, 09:31 AM   #10
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None of the big RV lenders are going to bother with an older RV if it flunks their sniff test on age. You need to check with smaller, local lenders who [hopefully] will be more interested in your ability to re-pay than the age risk of the collateral. Small credit unions are the best bet, but not sure how they will look at a new member asking for an inherently risky loan on Day One of their membership.

A better alternative is the home equity loan or other source of collateral.
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Old 07-06-2014, 04:16 PM   #11
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Quote:
Originally Posted by bluegrassrv View Post
If you have any ties to the military, try USAA.
They offer a $100k with no down requirement, 20% above $100k.

Quote:
Originally Posted by ahicks View Post
I would just share that one of the biggest reasons coaches in this age range are such a great value is that not everyone can get them financed....
X2, '05's are coming in sight.
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