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Old 04-24-2012, 09:07 AM   #1
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RV Loans

I'm looking for a company to obtain a loan for our RV. Any help. Thanks, John
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Old 04-24-2012, 09:22 AM   #2
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If you are a veteran look at USAA. Their current rate is 5.25%
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Old 04-24-2012, 01:36 PM   #3
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When we looked for a loan this past fall we found many lenders had a minimum loan amount and maximum age of the RV. What year are you looking for and what is your price range?

ALSO, the best rate you will find is a Home Equity Line of Credit. If you have the equity, look at that option.
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Old 04-24-2012, 01:44 PM   #4
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loan

The Coach ia a 2006 Tradition with 17k miles. We need to borrow 45k. Thanks
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Old 04-24-2012, 01:45 PM   #5
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Loan

It's a 42R Tradition
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Old 04-24-2012, 01:51 PM   #6
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I would check out Essex:

https://www.essexcredit.com/home/rv/
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Old 04-24-2012, 02:05 PM   #7
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Hi shamrock481,
Sun Trust bank and Bank of the West advertise they want the motor coach loan business.
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Old 04-24-2012, 02:21 PM   #8
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I would never do a home equity loan on something that depreciates. Not financialy sound and very risky in the current market and general economy.
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Old 04-24-2012, 02:44 PM   #9
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A local credit union can give you a better rate than most of the internet RV lenders. And the internet places usually have lots of restrictions. I always find it a more pleasant experience when dealing with someone local. Just my 2 cents worth. We financed our TT last year with a local credit union and we got a very favorable rate; better than any internet company.
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Old 04-25-2012, 12:09 AM   #10
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Originally Posted by Trudinator View Post
A local credit union can give you a better rate than most of the internet RV lenders. And the internet places usually have lots of restrictions. I always find it a more pleasant experience when dealing with someone local. Just my 2 cents worth. We financed our TT last year with a local credit union and we got a very favorable rate; better than any internet company.
I tried that with our CU. Been a member since before 1976, have over $80,000 cash in two checking accounts with no loans against it, have had our DSDP for 10 years. They wouldn't do it.
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Old 04-25-2012, 04:33 AM   #11
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I think the credit unions must differ from place to place. When I went to my local credit union, I was pre approved for the amount I wanted to spend and had thirty days to find what I wanted with out re doing the loan application. A good rate and very fast. I guess you just keep looking and sooner or later you'll find what you need. Good luck in your search.
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Old 04-25-2012, 04:49 AM   #12
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I used Bank of the West. 5% on $100,000.
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Old 04-25-2012, 04:53 AM   #13
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I just got 4.24% from Ally Bank on a new RV loan.
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Old 04-25-2012, 05:38 AM   #14
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I just got 4.24% from Ally Bank on a new RV loan.
I have paper on my truck through Ally, and found them to very good so far.

The 5er is done through BB&T. I don't recall the rate, but it's not bad. I've been happy with them so far.
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