Community Forums

weredoingit · 09-25-2018, 07:34 AM

Quote:

Originally Posted by manwithnorv

Why would you not entertain loans found on-line if you get a better rate? Lending Tree, Sun Trust, USBank and others advertise on-line.

You asked for recommendations? I gave it. I've dealt with the same C/U for 32 years. I can't do any better then them. I thought you were asking , and I answered.

Mich F · 09-25-2018, 07:49 AM

When I was looking for a loan in March 2013, my credit union was "offering" RV loans at over 9%. I ended up getting a loan through Ally at 3.9%. My credit union was obviously not interested in making loans for RVs at that time.

MTK46 · 09-25-2018, 12:20 PM

Quote:

Originally Posted by Mich F

When I was looking for a loan in March 2013, my credit union was "offering" RV loans at over 9%. I ended up getting a loan through Ally at 3.9%. My credit union was obviously not interested in making loans for RVs at that time.

Same with my credit union that I've been with 30+ years. Interest is way too high on RV loans. 72 months 8.49%

.Car loans 72 months 3%

kayakterp · 09-25-2018, 12:28 PM

Quote:

Originally Posted by MTK46

Same with my credit union that I've been with 30+ years. Interest is way too high on RV loans. 72 months 8.49%

.Car loans 72 months 3%

Same here, been a member for 30 years.
Car & truck loans can’t be beat, however the RV loan was much higher interest rate than the RV dealer could attain.
Just don’t tell Dave Ramsey I got an RV loan (heehee)

TonyMac · 09-25-2018, 01:53 PM

I got 4.24 on my mh from my credit union, I guess they wanted to make this loan. Mh was offered at 98k, booked for 106k, I offered 52k out the door as is, they took it and did not even counter. Financed 30k. It was a repo, somewhat neglected but not abused, dirty, full black tank, had been on the lot for 1.5 years, it was mid-September and they were going into their second winter with it. Tires were aged out, but it had new batteries -- go figure. The bank holding the note needed it sold to be able to take the write-off in the current tax year.

So, no, you are not always upside down. Your research and timing, together with your ability to negotiate and pounce, combined with a bit of luck and a big down, and I been right-side up the whole time on a financed depreciating asset.

RoadEyePie · 09-25-2018, 02:12 PM

Ok, some of you like your credit union and get good deals. I too have been a member of Navy Federal Credit Union for 38 year and I know what they have to offer. Those of you who found better offers else where, where did you find them....names please.

TonyMac · 09-25-2018, 02:35 PM

America First Credit Union in Ogden Utah. Open to ANYONE. And their customer service is outstanding. Search them.

I got a 4.24%, 10 years, with 33% Loan to Value, and a modest 760 FICO.

Gordon · 09-25-2018, 05:26 PM

Purchased a 2018 Arctic Fox 27-5L in the end of June this year. Best rate I could find, was through my CU at 3.45% for 5 years. I was not interested in a longer term. GE was the best other I could find and they wanted 6.0. It was not rocket science for me on this one.

RoadEyePie · 09-25-2018, 07:32 PM

Well, at first I was thinking that taking a lump sum distribution from my tax deferred acct. to purchase the RV would result in a large tax liability and therefore I'd be better off taking out a loan and pulling the payments out of the acct. to spread the distribution out over time. But if rates are not so great, I'd just wind up with the tax bill plus the interest rate expense. So far the best my CU could offer as a secured collateralized 5 yr. loan was 7.89%. Rethinking this.