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Old 04-17-2015, 09:52 PM   #1
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Need finance options

So I finally decided on purchasing a used (2012-2014) Winnebago view 24V for my first (full timing) RV. After months and months of viewing, reading, sitting in, walking through, etc...etc...etc, It came down to this being the best suited for my needs. It's just me, so no need for a 30 footer or bigger. Now all I need are some options for financing other then dealer financing. I am a long time member with KOA and they do offer financing through a separate party with rates as low as 4.15, so I will be looking into that as well.
Any suggestions for company's with good reputations and finance options would be appreciated.

Thanks in advance

Mark
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Old 04-17-2015, 10:15 PM   #2
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Bank of America is an option.
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Old 04-17-2015, 10:16 PM   #3
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All finance options will be completely dependent on your credit score and loan to value. (down payment). Generally, used rates are higher than new and credit unions are lower than banks. Bank of the West was good to me when I bought my first class A in 03. The best place to lower your payment is to negotiate the best purchase price. Interest rate is second consideration in my opinion.
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Old 04-17-2015, 10:26 PM   #4
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I believe Bank of America quit the RV loan business in 2014. Some options might be Bank of the West, Ally Financial, and Essex. If you are a Costco member, you might be able to get a little bit better rate with Essex.

https://www.essexcredit.com/costco/resource/
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Old 04-17-2015, 10:39 PM   #5
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Quote:
Originally Posted by rlchall View Post
Bank of America is an option.
We tried BOA, we turned them down as the interest rate was way too high. One of the reasons was "Lack of recent auto loan information" Well, both vehicles (other than the MH) are paid off!
Gave up on them and went with US Bank.
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Old 04-18-2015, 07:51 AM   #6
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Credit Unions are a good place to look for RV financing. Essex Credit also does a good bit of advertising, but I can't say how their rates compare.

BTW, purchasing the RV before you go full time will be easier because recent changes in banking laws have made it harder for full-timers to get financing. Financing for full-timers IS available, but you have to look harder.
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Old 04-18-2015, 07:52 AM   #7
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I just used USAA, they had the best rates I could find, but you have to be a current/past vet to use them.
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Old 04-19-2015, 04:28 PM   #8
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thanks for the info. I'm going to give Essex and us bank a try first just to see where I stand. A recent check of my credit score revealed a 721, which I believe is pretty good. So no problem there.

Thanks everyone

See ya'll on the road soon

Mark
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Old 04-19-2015, 05:04 PM   #9
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I just completed my third loan through Essex. They do well, but with that said they are very slow......I also had an app approved with USAA, seems like they were quarter percent higher. But said I would have a check in 24 hrs. I also tried Bank of the West, since they held my old loan. They were a full percentage higher. I challenged them as to why Essex was cheaper, yet they would be the end holder of the new loan.......lots of double talk, but no real answer.
One thing for sure, Bank of the West is impossible to call and conduct business with. Terrible telephone customer service. It is impossible to talk to a human. It has been 5 weeks and I still don't have the loan release for the old loan.
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Old 04-22-2015, 10:39 AM   #10
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Again thanks for all the help. It appears that KOA uses Essex as their finance partner with a current rate of 4.12%. I completed the application process online today. Hope they can give me an answer soon as I found a RV to purchase.

Hope to see ya'll soon on the road

Mark
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Old 04-22-2015, 04:36 PM   #11
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Just wanted to let everyone know that I was approved by Essex finance for the purchase of a 2013 Winnebago View 24V. Will be flying to Florida to retrieve it as soon as all of the paperwork is completed. I will download some photos soon.

Thanks again everyone for all the good info.

Now it's time for my happy dance...

Mark
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Old 04-22-2015, 05:47 PM   #12
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Quote:
Originally Posted by markbo53 View Post
Just wanted to let everyone know that I was approved by Essex finance for the purchase of a 2013 Winnebago View 24V. Will be flying to Florida to retrieve it as soon as all of the paperwork is completed. I will download some photos soon.

Thanks again everyone for all the good info.

Now it's time for my happy dance...

Mark
Congrats on your purchase. BTW, consider buying a service contract and you can shop them but it takes a lot of research. Your lender can include it in the financing.
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Old 04-22-2015, 06:55 PM   #13
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Congrats on your purchase .... Enjoy !!!
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