Community Forums

shamrock481 · 04-24-2012, 09:07 AM

I'm looking for a company to obtain a loan for our RV. Any help. Thanks, John

az bound · 04-24-2012, 09:22 AM

If you are a veteran look at USAA. Their current rate is 5.25%

Bondad · 04-24-2012, 01:36 PM

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.

shamrock481 · 04-24-2012, 01:44 PM

The Coach ia a 2006 Tradition with 17k miles. We need to borrow 45k. Thanks

shamrock481 · 04-24-2012, 01:45 PM

It's a 42R Tradition

go6car · 04-24-2012, 01:51 PM

I would check out Essex:

https://www.essexcredit.com/home/rv/

GaryKD · 04-24-2012, 02:05 PM

Hi shamrock481,
Sun Trust bank and Bank of the West advertise they want the motor coach loan business.

chief02 · 04-24-2012, 02:21 PM

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.

Trudinator · 04-24-2012, 02:44 PM

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.

Mr_D · 04-25-2012, 12:09 AM

Quote:

Originally Posted by Trudinator

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.

Bruce C · 04-25-2012, 04:33 AM

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.

toneumanns · 04-25-2012, 04:49 AM

I used Bank of the West. 5% on $100,000.

FRR2EYW · 04-25-2012, 04:53 AM

I just got 4.24% from Ally Bank on a new RV loan.

DpDave · 04-25-2012, 05:38 AM

Quote:

Originally Posted by FRR2EYW

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.