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Old 05-31-2012, 08:10 AM   #1
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Used motorhome loans

I need advise on loaning money for my "new" old, (15 year old) class A motorhome. I've just discovered that my bank will not loan on any rv older than 7 years. Where are the safe lenders?
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Old 05-31-2012, 08:55 AM   #2
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Welcome to the forum.

Not sure exactly what you want to do. Buy or Sell??

It is true that banks have a problem financing an old MH like mine unless you are one of their prime customers. There are banks out there that will lend if credit rating is high enough, you just have to find them. Credit Unions are a little more lenient. Stay away from predatory internet lenders....just my opinion. Some of these guys promise the moon.

If you own a home you can usually get an equity loan of some type that offers reasonable rates......but you must make the required payments or you could lose your house. Advantage is your MH title would be clear.

You just have to search around.
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Old 05-31-2012, 09:18 AM   #3
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I used Seacoast Finanicial for a 2001 DP with a 12 year loan. They were very easy to work with. I'm not sure if they will handle a 15 year old Class A or not. They are on the web.
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Old 05-31-2012, 02:44 PM   #4
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Bank of the West, Good Sam RV Finance, and Pentagon Federal Credit Union have been RV friendly to us.
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Old 05-31-2012, 02:52 PM   #5
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We found Southeast Financial out of Nashville very easy to deal with on our loan for our 2004 Fleetwood Class C this past winter.......YMMV
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Old 05-31-2012, 04:17 PM   #6
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Local credit union financed our 13 yr old - for 15 years. The dealer came up with the lender. Credit score probably matters.

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Old 05-31-2012, 04:20 PM   #7
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www.essexcredit.com

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