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 09-14-2014, 07:13 AM   #1
Senior Member
 
bamaboy473's Avatar
 
Join Date: Jun 2014
Location: Gulf Coast, Alabama
Posts: 1,734
Question about FINANCING

Our state (Alabama) has very limited MH financing options, so the best we could do here would be a six year note for a used MH.

The thought is: if we went to Texas and traded into another MH, would those dealers be able to get 10 or 15 year financing for us?
__________________

__________________
Rick and Sandy
2003 American Eagle, 52K miles
bamaboy473 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 09-14-2014, 09:40 AM   #2
Senior Member
 
GaryKD's Avatar
 
Newmar Owners Club
Join Date: Jul 2006
Location: Wellington, Florida
Posts: 12,324
Hi bamaboy473,
Consider contacting PPL Motor Homes at Used RVs, Motorhomes for Sale, and Consigned sales - PPL Motor Homes
They sell only pre-owned motor homes. They are also a volume dealer. Their inventory is on consignment from the private coach owner. They are in Texas and can answer all your questions. The have a very large inventory.
__________________

__________________
Gary
2005 Newmar KSDP 3910 + GMC ENVOY XUV 37K lbs Moving Down The Road
The Avatar Is Many Times Around The USA
Nobody Knows Your Coach Like Somebody Who Owns One Just Like Yours
GaryKD is offline   Reply With Quote
Old 09-14-2014, 09:57 AM   #3
Senior Member
 
bamaboy473's Avatar
 
Join Date: Jun 2014
Location: Gulf Coast, Alabama
Posts: 1,734
Thanks, Gary. Good idea.
__________________
Rick and Sandy
2003 American Eagle, 52K miles
bamaboy473 is offline   Reply With Quote
Old 09-14-2014, 10:02 AM   #4
Senior Member
 
Join Date: Dec 2012
Location: Wyoming
Posts: 733
Many of the large dealers like PPL can get you better financing than you can obtain on your own. We live in WY and bought our MH in NV and took delivery in AZ. Dealer got us financing through Bank of the West out of AZ. When we got back to WY I asked the local Bank of the West about their rates. Their loan rate for us would have been a couple of percent higher. Bottom line for getting a good loan and rate is your credit score.
__________________
wyorancher is offline   Reply With Quote
Old 09-14-2014, 10:08 AM   #5
Registered User
 
Monaco Owners Club
Join Date: Oct 2009
Location: Varies Depending on The Weather
Posts: 8,517
I got my best financing deal through my local credit union, 20 years @ 4.5% back in 2003.

I had found a RV Finance company on the Internet first to see what they could offer and my credit union match them.

Financing is much different today than it was back in 2003. Ever since the collapse of the economy in 2008/9, finance companies are very cautious.

Dr4Film ----- Richard
__________________
Dr4Film is offline   Reply With Quote
Old 09-14-2014, 10:59 AM   #6
Senior Member
 
Firebug5's Avatar
 
National RV Owners Club
Workhorse Chassis Owner
Retired Fire Service RVer's
Join Date: Apr 2014
Location: Salida, Colorado
Posts: 656
Watch out for the taxes!

When we traded our class-C for the Dolphin, we had a S&B in Colorado. We bought the Dolphin from a dealer in Arizona, and they found the best financing with Wells Fargo for 3.9%. At the time, the dealer offered us high book value for our trade. Then, you know the moment where you and your DW have secretly agreed upon a price for the new coach that you both will not go any higher, then the sales person shows you their best deal and it is $5,000 LOWER than you expected, and you are trying not to look at your DW eye-to-eye for fear of smiling??

Well, we agreed to the deal, returned the following day to swap out all of the stuff from the old coach, then proceeded to the finance office. We refused all the extra crap they offered, like special coatings and insurance. Then the surprise. In order to get the 3.9% interest rate, we would have to put an additional $5,000 into the deal to buy the rate down. Ah, ha, now it suddenly became clear. We loved the coach, had already transferred all the crap from our trade, and the dealer stated all applicable taxes would be paid by them, so we jumped in with both feet.

Upon arriving to the DMV in Colorado, we discovered the dealer had paid for all of the applicable taxes per ARIZONA tax law, and we now had to pay the applicable COLORADO taxes, which with the license plates and all totaled over $6,000! The lady at the DMV actually cried when my DW handed her the check. You do not want to know what my DW said!

We were excited about the original "deal", and had "assumed" everything had been taken care of properly by the dealer. We should have followed our intuition when the deal was tooooo good to be true. With that being said, we have thoroughly enjoyed our Dolphin, and would have purchased it for the same amount we paid including all the taxes and fees. HOWEVER, we would have preferred to have been informed UP FRONT by the dealer of all of the taxes prior to arriving at the Colorado DMV. I can still see the DMV lady crying. . . . .
__________________
Bruce & Judy, living the dream in Salida, CO!
2005 Nat'l Dolphin W22 Chassis, 2004 Jeep Liberty
"Let's Roll 'em, Let's Roll 'em!"
Firebug5 is offline   Reply With Quote
Old 09-14-2014, 11:01 AM   #7
Senior Member
 
plasma800's Avatar
 
Fleetwood Owners Club
Join Date: Nov 2013
Location: Houston, Texas
Posts: 3,198
Blog Entries: 1
Essex Credit ( a middle man, but a good one )

or

Bank Of The West Directly.
__________________
RVM#78 - -USAF- F-15 Eagle Radar Vet
'05 Fleetwood Revolution '12 Chevy 2500 '15 Airstream Intl Sig. 27FB
'14 Ram 3500 Aisin
plasma800 is offline   Reply With Quote
Old 09-14-2014, 11:10 AM   #8
Senior Member
 
SpursMVP's Avatar
 
Monaco Owners Club
Join Date: Jul 2010
Location: Ogallala, Nebraska
Posts: 374
We financed with USAA Federal Savings Bank on our 2001 HR Endeavor back in in 2009.

At the time we got 5.64% for 15 years with a 10% down payment required.

We bought our coach through PPL in Houston and at that time they did not provide financing, but the sales rep indicated that that was the best rate he'd seen in quite some time...for the time.

Good luck.

PS. You do NOT have to be a USAA member to finance with the bank.
__________________
2001 Holiday Rambler Endeavor
330 HP Cummins ISC
2007 Dodge Ram 4 X 4 (Hemi)
SpursMVP is offline   Reply With Quote
Old 09-14-2014, 11:34 AM   #9
Senior Member
 
alpha99's Avatar
 
Winnebago Owners Club
Join Date: Apr 2013
Posts: 1,035
If at all possible buy within your means (used is the best buy by far) and pay cash. Don't finance a heavily depreciating asset, IMO.


Have Fun!


Cheers and good luck!
__________________
alpha99 is offline   Reply With Quote
Old 09-14-2014, 12:40 PM   #10
Registered User
 
Monaco Owners Club
Join Date: Oct 2009
Location: Varies Depending on The Weather
Posts: 8,517
Quote:
Originally Posted by alpha99 View Post

If at all possible buy within your means (used is the best buy by far) and pay cash. Don't finance a heavily depreciating asset, IMO.

Have Fun!

Cheers and good luck!
This has been debated many times on this site. There are benefits to paying cash and other benefits to financing.

For me it makes no sense to remove $110,000 from my tax deferred IRA, then pay tax on what I take out to pay off a loan at 4.5% interest when that same money is earning 10% - 20% while sitting in my IRA.

And then I lose the ability to write some of the interest off on my Federal Income Taxes.

I don't think so!

Dr4Film ----- Richard
__________________
Dr4Film is offline   Reply With Quote
Old 09-14-2014, 01:00 PM   #11
Senior Member
 
plasma800's Avatar
 
Fleetwood Owners Club
Join Date: Nov 2013
Location: Houston, Texas
Posts: 3,198
Blog Entries: 1
Quote:
Originally Posted by Dr4Film View Post
This has been debated many times on this site. There are benefits to paying cash and other benefits to financing.

For me it makes no sense to remove $110,000 from my tax deferred IRA, then pay tax on what I take out to pay off a loan at 4.5% interest when that same money is earning 10% - 20% while sitting in my IRA.

And then I lose the ability to write some of the interest off on my Federal Income Taxes.

I don't think so!

Dr4Film ----- Richard
x2
__________________
RVM#78 - -USAF- F-15 Eagle Radar Vet
'05 Fleetwood Revolution '12 Chevy 2500 '15 Airstream Intl Sig. 27FB
'14 Ram 3500 Aisin
plasma800 is offline   Reply With Quote
Old 09-14-2014, 01:01 PM   #12
Rkh
Registered User
 
Rkh's Avatar
 
Ford Super Duty Owner
Join Date: Jul 2011
Posts: 1,063
Wow 10-20% return.. Market at around 7% ytd.. I need your secret..
__________________
Rkh is offline   Reply With Quote
Old 09-14-2014, 01:18 PM   #13
Registered User
 
Monaco Owners Club
Join Date: Oct 2009
Location: Varies Depending on The Weather
Posts: 8,517
No secret, my investment strategy is not one that most retired people should be doing including myself at my age but it is what it is.

High Risk = High Reward. My portfolio can increase $15-$20,000 in a day but it will also go down significantly when the market turns but I'm in for the long haul, not like these volatile day traders.

Biotech's, pharmaceuticals health and high tech mutual funds are what I invest in. So now you know my secret.

Last year my portfolio returned over 40%, this year it is near 20% YTD

If you want to sleep at night then I would NOT suggest investing in high risk stuff. I sleep well as I've been doing it since 2009.

Dr4Film ----- Richard
__________________
Dr4Film is offline   Reply With Quote
Old 09-14-2014, 01:46 PM   #14
Rkh
Registered User
 
Rkh's Avatar
 
Ford Super Duty Owner
Join Date: Jul 2011
Posts: 1,063
That's me.. I sleep tight. Never ever look at the market like did for the 40 years I was working..
I am now 100% invested in the "sock" market.. (My kids love that one)
__________________

__________________
Rkh 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
A Question About Financing Jcarlson iRV2.com General Discussion 11 06-14-2014 09:49 AM
12VDC Battery Monitor question Ed_G Class A Motorhome Discussions 2 05-22-2014 08:16 AM
Question for the Forum Extremerving iRV2.com General Discussion 11 01-15-2014 07:31 AM
Newbie Question About Power Inverters and Electrical exploring RV Systems & Appliances 11 01-05-2014 04:18 PM
Bounder: Question on New MH BarryN514 Fleetwood Products Owner's Forum 26 11-07-2013 08:34 AM

» Virginia Campgrounds

Reviews provided by


Copyright 2002- Social Knowledge, LLC All Rights Reserved.

All times are GMT -6. The time now is 06:57 AM.


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