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Old 02-26-2013, 08:17 PM   #1
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Disapointed with Essex Finance

We submitted an application about a week ago and were assigned to a rep. We were contacted and supplied all info required. We were please that our application was approved but then all communication stopped.

My wife and I have emailed multiple times and called and left messages over different days. I do hope this is not the level of customer care we should expect. Has anyone else had similar experiences with Essex.
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Old 02-26-2013, 08:28 PM   #2
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I did a re-fi last year, and they were excellent.
Don't know what's gone wrong, but call again and
find a way to talk to someone.
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Old 02-26-2013, 09:42 PM   #3
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My experience with Essex was frustrating enough to motivate me to look elsewhere for financing... This was after weeks of almost harrassing them to find out what was going on. I eventually found out that if your coach is not 8 years old or less... Or fall into their very narrow internal guidelines, that they broker your loan out to another lender. Going through another lender in my case meant a higher rate and shorter term than they advertised. Having excellent income and credit, I was not going to accept that kind of service. AFter reshopping, I ended up getting a loan through Newcoast Financial. They were easy to work with and ended up with a much better rate than Essex and got the 15 year term I wanted. If you call them, ask for Kyle. He was great!
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Old 02-26-2013, 10:17 PM   #4
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Update - Within an hour of me posting my original comments we received an email from Essex. Coincidence ?
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Old 02-27-2013, 10:26 AM   #5
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Good to hear! Hopefully they can deliver to you what they did not for me. Good Sam says in the rate disclosure, up to 10 year old MH and up to 15 year financing. At that point the rate was 4.99%. What they don't disclose is that if your MH is 8 - 10 years old, your loan will be limited to a maximum of 12 years and the rate jumped to 6.13%. That is a big enough difference that it should be disclosed upfront in their grids. Took them a very long time to approve, since it went to another bank. Like I said above, I was able to get a 15 year loan at the 4.99% I wanted.
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Old 02-27-2013, 10:31 AM   #6
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They have quoted me 4.87 on 12 years for a 2006 Itasca Suncruiser. I wanted to compare with BofA but they told me they do not offer pre-approvals. I wanted to be armed with my financing before going to the dealership...
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Old 02-27-2013, 10:35 AM   #7
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I got a similar run around and what I call bait and switch on the rate. It didn't seem to matter to them that I am a convenience borrower. I got so frustrated I just paid off the current loan. Guess that is my way of saying if a company doesn't act like they want my business, I will not only not do business with them, but I'll take business away from them.
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Old 02-27-2013, 10:51 AM   #8
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I applied to and was approved by Essex. However, when I told them how many miles were on the RV I wanted to purchase (133K) they said that they only financed RV's with less than 50 or 60K, I don't remember. So I ended up financing with these guys:

RV financing, RV loans, recreational vehicle financing and refinancing, new and used RV travel trailer financing, low RV fixed, variable and adjustable loans, luxury motorcoach loans - Scott Financial Services
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Old 02-27-2013, 11:11 AM   #9
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Essex was a bad company for me. I used my local credit union and it was real close to any of the SPECIALTY finance companies and kept my money local.
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Old 02-27-2013, 11:13 AM   #10
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Quote:
Originally Posted by t55watson View Post
Essex was a bad company for me. I used my local credit union and it was real close to any of the SPECIALTY finance companies and kept my money local.
The only credit union I belong to does not do RV loans.
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Old 02-27-2013, 11:41 AM   #11
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We started to re-fi with Essex and got a ton of paperwork with signatures required, like Power of Attorney and a bunch of other things. It just seemed like to many papers we needed to send back and forth. We finally went to a local Credit Union and got it done there. Much less hassle and it's local.
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Old 02-27-2013, 11:50 AM   #12
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Quote:
Originally Posted by osgoor View Post
The only credit union I belong to does not do RV loans.

Join another credit union. In our area alone there are at least three I qualify for. Only have to deposit $5 to join.
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Old 02-27-2013, 11:52 AM   #13
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I am searching in my area Denver and all so far are quoting rates higher and in some cases much higher than the 4.87% Essex is quoting. I continue to look for alternatives....
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Old 02-27-2013, 07:09 PM   #14
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Osgoor, try Newcoast financial in Tampa, Fl. Talk to Kyle. It's funny that he ended up placing me with the bank I work for, at a better rate than I could get on my own as an employee! I'm serious!
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