Go Back   iRV2 Forums > MOTORHOME FORUMS > Class A Motorhome Discussions
Click Here to Login
Join iRV2 Today

Mission Statement: Supporting thoughtful exchange of knowledge, values and experience among RV enthusiasts.
Reply
  This discussion is proudly sponsored by:
Please support our sponsors and let them know you heard about their products on iRV2
 
Thread Tools Search this Thread Display Modes
 
Old 07-22-2016, 09:26 AM   #15
Junior Member


 
Join Date: Jun 2016
Posts: 25
Notwithstanding Crashers sage advice, and knowing that less debt is usually a good thing, an element in all this might be required down payment.

I know that Essex has told me that they want a "10-20%" down payment for the best rate, but that is a little gray, once I was faced with a choice of 5% down get you a 3.99% rate and 20% down gets you a 3.9 rate. At that time, for me, I kept the money in my pocket, and still worked to pay the loan off early. I liked the safety net. But I do not know if or how it applies nowadays.
Wonder what folks are experiencing.

J
__________________

__________________
John
Full time starting 2017.
ThatzGuy is offline   Reply With Quote
Join the #1 RV Forum Today - It's Totally Free!

iRV2.com RV Community - Are you about to start a new improvement on your RV or need some help with some maintenance? Do you need advice on what products to buy? Or maybe you can give others some advice? No matter where you fit in you'll find that iRV2 is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with other RV owners, see fewer ads, upload photographs, create an RV blog, send private messages and so much, much more!

Old 07-22-2016, 10:42 AM   #16
Member
 
Join Date: Jan 2016
Posts: 62
Quote:
Originally Posted by skypilot_1 View Post
Never finance thru the selling dealer.
I got a fantastic rate through the dealer - better than any rate I could find anywhere else. They want your business too.
__________________

__________________
Deep Water D is online now   Reply With Quote
Old 07-22-2016, 05:42 PM   #17
Senior Member
 
skypilot_1's Avatar
 
Tiffin Owners Club
Join Date: Oct 2011
Location: Wintering in Key West
Posts: 617
Quote:
Originally Posted by Deep Water D View Post
I got a fantastic rate through the dealer - better than any rate I could find anywhere else. They want your business too.
Glad for you...hey you can't win'um all.
__________________
Ret. Military/Corporate Pilot
Key West Snowbirds-AB 450HP
"Don't cry because it's over, smile because it happened”
skypilot_1 is offline   Reply With Quote
Old 07-22-2016, 11:38 PM   #18
"Formerly Diplomat Don"
 
Dutch Star Don's Avatar
 
Newmar Owners Club
Join Date: Apr 2005
Location: Moorpark, Ca.
Posts: 7,572
Bank of the West and Bank of America both do RV loans. I've always gone thru a dealer, but knew what my credit union and bank offered going in. The dealer has always beat their rates.
__________________
Don & Mary
2014 Newmar Dutch Star - All Electric - 450 ISL
2016 GMC Canyon 4WD Crew Cab
Dutch Star Don is offline   Reply With Quote
Old 07-23-2016, 09:19 AM   #19
Member
 
TommyHarris's Avatar
 
Monaco Owners Club
Join Date: Nov 2015
Location: Charleston, SC
Posts: 63
Another vote for USAA - excellent.
__________________
Tommy and Rita
Charleston SC & Ormond Beach FL
2006 HR Ambassador 40DFD
TommyHarris is offline   Reply With Quote
Old 07-23-2016, 10:44 AM   #20
Senior Member
 
Rich-n-Linda's Avatar
 
Join Date: Nov 2011
Posts: 884
I'll add my voice to those who are satisfied Essex clients.
__________________
Rich-n-Linda is offline   Reply With Quote
Old 07-23-2016, 12:49 PM   #21
Member
 
AFfiredawg's Avatar
 
Join Date: Jun 2016
Location: Travis AFB, CA
Posts: 68
Another satisfied USAA customer here...just picked up a new 2016 Fleetwood Bounder financed through USAA.
__________________
AFfiredawg is offline   Reply With Quote
Old 07-24-2016, 01:19 PM   #22
Senior Member
 
SpaceNorman's Avatar
 
Monaco Owners Club
Join Date: Jan 2004
Posts: 832
We let the dealer handle the financing - but paid close attention to the rate before accepting the deal. The dealer's finance team took care of pretty much everything - and we walked out with a loan at a very competitive rate thru US Bank. From the servicing side of things - US Bank has been good to work with. We've got online access to our loan account - and can check payment status, see how payments were applied(i.e., split between principal and interest), get total annual interest paid information (important for taxes!), current loan amount, request payoff amounts - all with a simple online visit.
__________________
SpaceNorman
2012 HR Endeavor 43' DFT, 2012 Jeep Liberty
www.penquinhead.com
SpaceNorman is offline   Reply With Quote
Old 07-24-2016, 01:24 PM   #23
Senior Member
 
Mr_D's Avatar
 
iRV2 No Limits Club
Join Date: May 2011
Location: Vancouver, WA
Posts: 23,286
Ours is through US Bank, arranged by the dealers finance co. They use an outside service that I assume we paid for in the fees.
__________________
2009 45' Magna 630 w/Cummins ISX 650 HP/1950 Lbs Ft
Charter Good Sam Lifetime Member, FMCA, SKP
RV'ing since 1957, NRA Benefactor Life, towing '14 CR-V
Mr_D is offline   Reply With Quote
Old 07-24-2016, 01:48 PM   #24
Junior Member
 
Join Date: May 2013
Location: Lake Placid, Florida
Posts: 29
If your home is paid for you could get a Home Equity Loan, mine is less than 3%. You have to pay the amount scheduled on the loan, but you may pay any amount over the scheduled amount per month. I believe mine is set up for 15 years.
__________________
cauffield64 is offline   Reply With Quote
Old 07-24-2016, 05:57 PM   #25
Member
 
Join Date: Dec 2015
Posts: 76
We foolishly allowed the dealer to finance us thru US Bank as they beat the rates we had [ 800+ credit scores]. Thought we had a sweet deal as it was called a "fixed rate" loan. Sounds good doesn't it?

Took us a few payments and we noticed the interest charge remained the same each month instead of declining. When asking the local branch how this could be we were given "mumbo Jumbo" for an explanation. Went to another branch and asked for "our" amortization table, sure enough the entire loan was based on a fixed monthly interest rate.

Our fraternal credit union stepped up and matched the interest rate. We then decided to double the payments and throw extra funds in as acquired while keeping the 10 year term as a backup JIC. We detest financing our toys.
Hope this helps someone else. Dealer didn't provide an amortization schedule. Fool me once.....
__________________
TarasParents is offline   Reply With Quote
Old 07-24-2016, 10:32 PM   #26
Senior Member
 
RSteele's Avatar
 
Join Date: Jun 2012
Posts: 156
Used USAA for my last two coaches. Completely painless, great company. Everything is done over the computer. You can call them and have a loan in 30 minutes. They will send you the check overnight. They will also finance older coaches that a lot of other banks won't touch. Lowest rates I could find also. Absolutely nothing bad to say about them. You can also talk to real person quickly and not get the computer menu run around. They will do 100% finance on under 100k. Over 100k they want 20% down.
__________________
07 Winnebago Vectra 40 TD ISL 400. Tru-balance, centramatics, Koni shocks
RSteele is offline   Reply With Quote
Old 07-25-2016, 12:22 PM   #27
Senior Member
 
Pigman1's Avatar
 
Join Date: Sep 2011
Posts: 1,709
If you qualify as a USAA member, definitely check them out. I have been a member since 1963, with their insurance on cars, trucks, RV's and homeowners. We have also financed cars and trucks through them. Unfortunately, I didn't finance my RV through them as the dealer convinced me to use GE Finance. BIG BIG MISTAKE!! Outstanding service at USAA, lowest costs and policies and loans you can actually read and understand. Check them out if you qualify.
__________________
Pigman
2013 Tiffin Allegro Bus 43QGP
2011 Chevy Silverado 1500 Toad
Pigman1 is offline   Reply With Quote
Old 07-25-2016, 12:31 PM   #28
Member
 
Join Date: Jan 2016
Posts: 62
USAA was the first place I checked. Dealer financing beat USAA too.
__________________

__________________
Deep Water D is online now   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Advice on financing an older coach? Trauma901 Class A Motorhome Discussions 18 10-05-2012 08:33 PM
Qustion of Financing Essex iRV2.com General Discussion 7 04-18-2008 08:01 AM
Financing Rates? ravencr Toy Haulers Discussion 3 09-12-2007 01:01 PM
Financing Used 5th wheels GSP 5th Wheel Discussion 3 09-08-2005 04:36 PM
Financing Nedra MH-General Discussions & Problems 10 05-03-2005 05:56 AM

» Virginia Campgrounds

Reviews provided by

Our Communities

Our communities encompass many different hobbies and interests, but each one is built on friendly, intelligent membership.

» More about our Communities

Automotive Communities

Our Automotive communities encompass many different makes and models. From U.S. domestics to European Saloons.

» More about our Automotive Communities

Marine Communities

Our Marine websites focus on Cruising and Sailing Vessels, including forums and the largest cruising Wiki project on the web today.

» More about our Marine Communities


Copyright 2002- Social Knowledge, LLC All Rights Reserved.

All times are GMT -6. The time now is 08:56 AM.


Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.