Go Back   iRV2 Forums > iRV2.com COMMUNITY FORUMS > iRV2.com General Discussion
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 03-18-2015, 05:22 PM   #1
Junior Member
 
CoachToadDLG's Avatar
 
Join Date: Jan 2015
Location: Spring, Texas
Posts: 9
Credit Union wants "dealer/broker" for out-of-state purchase

Greetings! I hope someone has been through this and can offer some suggestions.

I have a Credit Union who is more than happy to supply me with a wonderful loan (great terms)... but the RV I want to purchase is out of the state. I live in Texas, the coach is in Arizona.

The coach is owned by a private party (the don't owe anyone for it) and they have title in-hand.

The problem I'm experiencing is that my Credit Union doesn't want to take an out-of-state private party purchase type loan. They told me that it would have to be a dealer in-state purchase. They're not suggesting that I purchase a totally different rig from a dealer, but that there are dealers out there who will act as the "middle-man" for this deal -- essentially taking the Arizona RV in, and then allowing me to take delivery of the coach (I'm guessing for a heavy fee).

Doing things this way is the only way my Credit Union will feel comfortable with the transaction -- as they want to insure that the title is in-hand (I guess they don't trust that I or the seller will mail the title in).

Does anyone have any experience with this kind of situation? What did you do?

I called one local dealer and also a Camping World. I thought Camping World, being as large as they are with a network everywhere, would be a sure shot for this kind of thing... but the person I talked to said they don't do those kind of deals as they are "too risky"... because, what if the title is screwy or there is a lien on the title or something like that? They simply don't want to get involved.

Anyone have any hints or suggestions on good "dealers" in Texas who perform this kind of service (which is some form of a "broker" service, right? or is it called something else? I don't even know what to ask for when talking with dealerships).

Ultimately I could always apply for another loan elsewhere -- I just don't think I'll get anywhere near the terms/rate I can get with the Credit Union.

Thanks for any suggestions/advise.
__________________

__________________
CoachToadDLG 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 03-18-2015, 05:31 PM   #2
Senior Member
 
Join Date: May 2014
Posts: 2,796
We actually got a lot better rate at Bank of America, than we did with our credit union so you may want to check with your personal bank. I wonder if the seller met with you at the Credit Union with the title in hand if that would help, if he wants to sell it it may be worth the trip for him.
__________________

__________________
Mike & Charlotte
2014 Newmar Canyon Star 3610
Orange County, California
Mike and Cha is offline   Reply With Quote
Old 03-18-2015, 05:41 PM   #3
Senior Member
 
rvarner's Avatar
 
Winnebago Owners Club
Solo Rvers Club
Freightliner Owners Club
Join Date: Jan 2007
Location: Pahrump, NV
Posts: 461
I would find someone else to finance the deal and buy it as long as there was no prepayment penalty. As soon as I returned to Texas and registered it, I would refi thru the credit union. If this were my credit union, I wouldn't be to happy with them and, as long as there is a clean title and legal bill of sale, I don't think there would be a problem. Sounds like they may be in cahoots with some of the Texas dealerships but just guessing. Good luck
Rich
__________________
2004 Horizon 40AD/ISC 350/2012 SILVERADO or 2008 Chevy HHR/Demco/Vmspc/FMCA-F394912/SKP-115085/2004 Can-Am Outlander/2013 Polaris RZR
rvarner is offline   Reply With Quote
Old 03-18-2015, 05:44 PM   #4
Senior Member
 
Pa Miller's Avatar


 
Monaco Owners Club
Vintage RV Owners Club
Join Date: Feb 2015
Location: East Texas
Posts: 715
Normal dealers draft off the bank and don't get money till the title clears.. I don't see why the CU couldn't do that it is the safe way
.
__________________
1995 Monaco Dynasty
32' B5.9 Banks, 6 speed Alison 3060
2008 HHR Panel toad
Safe-T-Plus
Pa Miller is offline   Reply With Quote
Old 03-18-2015, 06:42 PM   #5
Senior Member
 
Tetonchief's Avatar
 
Newmar Owners Club
Ford Super Duty Owner
Join Date: Aug 2014
Location: SW FL
Posts: 417
Try Alliant Credit Union (See Escapes magazine). They are former United Airlines CU. I used them for a buy with a private owner and got a great rate too. Their main office is in Chicago.
__________________
Don Kostyal
CMSgt, USAF ret.
2012 Canyon Star 3856//2009 Scion xB
Tetonchief is offline   Reply With Quote
Old 03-18-2015, 07:23 PM   #6
Senior Member
 
Pigman1's Avatar
 
Join Date: Sep 2011
Posts: 1,940
I'd call the state that has the title on the rig and ask them if they could suggest how this could be accomplished. I'd also complete the sale at that DMV just to be sure you have a clean title transfer and there's no unknown liens or problems with the title or the present owners passing title. After you get that info, go back to the CU and see if they're happier doing the deal.

I can understand your CU being shy about issuing a check on something they've never seen to someone they don't know with a rig that may have a questionable past. If the DMV gets in the deal, and the lien is properly recorded on a new clean title and then sent to them, they may be a lot easier about the loan.
__________________
Pigman
2013 Tiffin Allegro Bus 43QGP
2011 Chevy Silverado 1500 Toad
Pigman1 is offline   Reply With Quote
Old 03-18-2015, 08:53 PM   #7
Senior Member
 
Ray,IN's Avatar
 
Join Date: Aug 2001
Location: North America somewhere
Posts: 13,712
Quote:
Originally Posted by CoachToadDLG View Post
but the person I talked to said they don't do those kind of deals as they are "too risky"... because, what if the title is screwy or there is a lien on the title or something like that? They simply don't want to get involved.
Thanks for any suggestions/advise.
That's the same reasoning your Credit Union is using.
__________________
2000 Winnebago Ultimate Freedom USQ40JD, ISC 8.3 Cummins 350, Spartan MM Chassis. USA 1SG, retired;PPA,Good Sam Life member,FMCA."We the people are the rightful masters of both the Congress and the Courts - not to overthrow the Constitution but to overthrow men who pervert the Constitution. "Abraham Lincoln"
Ray,IN is offline   Reply With Quote
Old 03-18-2015, 11:34 PM   #8
Junior Member
 
CoachToadDLG's Avatar
 
Join Date: Jan 2015
Location: Spring, Texas
Posts: 9
Quote:
Originally Posted by Ray,IN View Post
That's the same reasoning your Credit Union is using.
Agreed. The Credit Union doesn't want to take anything with any risk at all, yet I don't understand why they think a dealer would want to act as the middleman and assume that risk for a simple fee. Just doesn't seem logical. Looks like I'll just have to give up on them and go elsewhere.

Now I'll just have to find a place that can work with the type of loan I need (considering the situation).
__________________
CoachToadDLG is offline   Reply With Quote
Old 03-19-2015, 12:01 AM   #9
Senior Member
 
Old Car Nut's Avatar


 
Country Coach Owners Club
Oklahoma Boomers Club
Join Date: Jan 2015
Location: Woodward, OK
Posts: 1,128
Quote:
Originally Posted by CoachToadDLG View Post
Agreed. The Credit Union doesn't want to take anything with any risk at all, yet I don't understand why they think a dealer would want to act as the middleman and assume that risk for a simple fee. Just doesn't seem logical. Looks like I'll just have to give up on them and go elsewhere.

Now I'll just have to find a place that can work with the type of loan I need (considering the situation).

Seems to me the dealer would act in the same capacity as they would in a consignment sale. Something CW does all the time.
__________________
Jay Devereaux
1992 Country Coach Magna #4926 "Maggie" 25' Stacker "The Toy Box"
Facebook | IRV2 | YouTube | Twitter
Old Car Nut is offline   Reply With Quote
Old 03-19-2015, 12:39 AM   #10
Senior Member
 
Ray,IN's Avatar
 
Join Date: Aug 2001
Location: North America somewhere
Posts: 13,712
Quote:
Originally Posted by CoachToadDLG View Post
Agreed. The Credit Union doesn't want to take anything with any risk at all, yet I don't understand why they think a dealer would want to act as the middleman and assume that risk for a simple fee. Just doesn't seem logical. Looks like I'll just have to give up on them and go elsewhere.

Now I'll just have to find a place that can work with the type of loan I need (considering the situation).
You have the option to initally finance elsewhere, then after a month or two, when the title and paperwork is all straight, refinance with your credit union.
__________________
2000 Winnebago Ultimate Freedom USQ40JD, ISC 8.3 Cummins 350, Spartan MM Chassis. USA 1SG, retired;PPA,Good Sam Life member,FMCA."We the people are the rightful masters of both the Congress and the Courts - not to overthrow the Constitution but to overthrow men who pervert the Constitution. "Abraham Lincoln"
Ray,IN is offline   Reply With Quote
Old 03-19-2015, 12:39 AM   #11
Senior Member
 
89sandman's Avatar
 
Join Date: May 2012
Posts: 883
For out of state private party purchases my credit union requires title in hand when the check is cut. Seems this is the norm for a lot of them.
__________________
89sandman is offline   Reply With Quote
Old 03-19-2015, 10:34 AM   #12
Senior Member
 
rvarner's Avatar
 
Winnebago Owners Club
Solo Rvers Club
Freightliner Owners Club
Join Date: Jan 2007
Location: Pahrump, NV
Posts: 461
Quote:
Originally Posted by 89sandman View Post
For out of state private party purchases my credit union requires title in hand when the check is cut. Seems this is the norm for a lot of them.
Exactly. I have purchased two motorhomes out of state. Both had clear title in hand. In NV and AZ a private party purchase is not taxed. Saves big money.
Rich
__________________
2004 Horizon 40AD/ISC 350/2012 SILVERADO or 2008 Chevy HHR/Demco/Vmspc/FMCA-F394912/SKP-115085/2004 Can-Am Outlander/2013 Polaris RZR
rvarner is offline   Reply With Quote
Old 03-19-2015, 03:24 PM   #13
Junior Member
 
Join Date: Jun 2008
Location: Full time on the road
Posts: 24
Quote:
Originally Posted by CoachToadDLG View Post
Greetings!

Thanks for any suggestions/advise.
Have you considered using an escrow company? If you go through a dealer you may have to pay the sales tax.
__________________
gilbour is offline   Reply With Quote
Old 03-19-2015, 04:52 PM   #14
Senior Member
 
Pa Miller's Avatar


 
Monaco Owners Club
Vintage RV Owners Club
Join Date: Feb 2015
Location: East Texas
Posts: 715
If you live in Texas you'll pay sales tax when you lic the RV.. don't mater were you get it.
__________________

__________________
1995 Monaco Dynasty
32' B5.9 Banks, 6 speed Alison 3060
2008 HHR Panel toad
Safe-T-Plus
Pa Miller is offline   Reply With Quote
Reply

Tags
dealer, purchase



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
Where to Purchase Excel 5th Wheel wch1944 Full-Timers 6 06-19-2014 03:54 PM
Plug for Arkansas State Parks if Disabled n5pht Military / Veteran RVing 4 06-13-2014 06:48 AM
Best state parks? MSHappyCampers iRV2.com General Discussion 42 06-10-2014 06:26 PM
Recruiting 2 RVers -Alaska State Parks BrianAK Workkamping & Volunteering 0 04-03-2014 11:48 AM
Earning Your State Stickers BamBoom iRV2.com General Discussion 32 03-19-2014 10:59 PM

» Virginia Campgrounds

Reviews provided by


Copyright 2002- Social Knowledge, LLC All Rights Reserved.

All times are GMT -6. The time now is 04:47 AM.


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