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 08-06-2011, 11:15 AM   #29
Senior Member
 
Join Date: Jul 2009
Posts: 466
On my car, the dealer offered me a better price if I financed it. I agreed, made one payment then paid it off.

Jim E
__________________

__________________
Pairajays 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 08-06-2011, 11:27 AM   #30
Senior Member
 
HD4Mark's Avatar
 
Winnebago Owners Club
Coastal Campers
Join Date: Oct 2009
Location: Marathon, Florida
Posts: 2,894
Paid cash for the last MH but couldn't quite squeeze the full amount for this one. Put down a big chunk and paid it off in a year.

At one point the house we owned still had a mortgage but we had enough cash to pay it off so we asked our tax guy if it was a better deal to pay it off or take the deduction. He said it is like 2/3 to the bank or 1/3 to Uncle Sam. Did cash for current sticks and bricks.
__________________

__________________
Mark & Nancy
2004 Winnebago Vectra 40KD
Shep dog, R.I.P. Kenzie dog Toad 2015 Jeep Wrangler Willys Wheeler
HD4Mark is offline   Reply With Quote
Old 08-06-2011, 12:16 PM   #31
Senior Member
 
62_inrightlane's Avatar
 
Forest River Owners Club
Freightliner Owners Club
Join Date: Apr 2011
Location: Florida / Georgia / Michigan
Posts: 481
Quote:
Originally Posted by Dave and Jaime View Post

On the other hand, I have read many times where car dealers, in particular, may have arrangements with lenders and get a commission or kickback from lenders to whom they steer buyers. So, when they calculate their net profit on the deal they also figure what they will get from the bank, as part of it, if you indicate you will be financing. (Sometimes the "bank" may be the franchise's financial institution, like GMAC).

Auto and RV dealers have at least 3 profit centers for themselves. The sale of the unit, The financing of the unit and the service department. Right now unit sales are the lowest margin profit centers (Unless you get taken). If your going to finance, get with your bank, and take the dealer a pre-approved line of credit letter, stating the amount your approved for on the coach you want to buy. If they want to arrange financing for you then tell them sure but you must beat the pre-approved financing! More often than you think they can beat what you've arranged just because they buy blocks of credit at discounted rates. They offer you a rate that may be 1/2 percent higher than the buy rate for their block of credit. Guess who get the extra 1/2%. Tell them you want your APR at their buy rate!
__________________
Marc & Jan
Molly, Abby & Katie | The Cocker K-9 Kids!|Toad 2014 Cadillac SRX
2012 Berkshire 360FWS, Brake Buddy Vantage|Wineguard Travler SK-3005 |TST 507 TPMS
62_inrightlane is offline   Reply With Quote
Old 08-06-2011, 08:34 PM   #32
Senior Member
 
Join Date: Nov 2008
Location: Bakersfield CA
Posts: 257
Quote:
Originally Posted by MickBrennan View Post
You get a MUCH better deal with a pile of Benjamins.
Many dealers like to 'help' arrange or provide the financing, and will give you a better deal when they can 'help'.

CarlGeo
__________________
CarlGeo is offline   Reply With Quote
Old 08-06-2011, 08:46 PM   #33
RVM 18
 
okmunky's Avatar


 
Solo Rvers Club
iRV2 No Limits Club
Join Date: Feb 2011
Location: Fulltimer, SD resident
Posts: 7,267
I put 70% down and paid off the balance 2 months later. I needed to pick up my new MH before enough cash was ready to come out of my investment acct without penalty. I asked my financial advisor if I should keep the loan for the 5 year term or pay it off. He said pay it off.

In the current economy it feels good to be debt free and the fewer payments I have to make each month, the better my mood.
__________________
Barb (RVM18), Sena (capuchin monkey, RVM Head Mascot) & Lily (Maltese/Yorkie)
2011 Shasta Cynara 230F, 2012 Smart Car toad FMCA #F466348
The Journey is Our Destination. Full-timing since 5/18/2011 and loving it.
okmunky is offline   Reply With Quote
Old 08-06-2011, 09:00 PM   #34
Senior Member
 
BigSkyBob's Avatar


 
Monaco Owners Club
Join Date: Feb 2008
Location: Western Montana on the Divide
Posts: 1,206
Cash, no question.
__________________

__________________
Bob Retired Army Traveling alone now.
2008 Camelot 40 PDQ 4 slides ISL400 towing a 2016 Dodge Ram 1500 4x4 Quadcab
Western MT in summer, AZ, NV in winter
BigSkyBob is offline   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
Banks May Not Finance Full Timers The Bay I MH-General Discussions & Problems 58 12-21-2010 05:50 PM
Flying J-Your Credit Card-get Cash Price-Workaround Zimectrin iRV2.com General Discussion 9 09-24-2008 09:26 AM
Kermit's Loan SVO RV'ing Humor & Crazy but True Stories 2 06-03-2006 07:59 PM

» Virginia Campgrounds

Reviews provided by


Copyright 2002- Social Knowledge, LLC All Rights Reserved.

All times are GMT -6. The time now is 01:00 AM.


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