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09-03-2014, 05:20 AM
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#29
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Senior Member
Join Date: Aug 2014
Posts: 795
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I bought mine a month ago and got a 4.9, they advertised as low as 4.5. My last rv loan was 7.0 so I am happy. Try america first credit union. I think they are the best
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09-03-2014, 05:21 AM
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#30
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Senior Member
Join Date: Aug 2014
Posts: 795
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Oh and that was with 0 money down also
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09-03-2014, 06:20 AM
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#31
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Junior Member
Join Date: May 2014
Posts: 10
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I have finally found and financed a 2008 Keystone Everest. It satisfied my "have to have" list and the dealer was very accommodating, found financing easily at the lowest rate I had been offered. Thank you Oklahoma RV in Moore, OK. Anyway, it's a debt and my plan is to take a 12 year loan and pay it off in 4 to 5 years. I have one more student loan to pay at a higher interest rate and I will pay that off first. I have a budget based on the guesstimates of RV Life Expenses that I have read about on other blogs. Wish me luck all and thank you for the invaluable information discovered here. Now I am a fellow RV Owner! Yay!
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09-03-2014, 10:03 PM
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#32
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Senior Member
Join Date: Aug 2013
Location: Everywhere USA
Posts: 2,107
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and you got the financing where ????
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09-03-2014, 11:19 PM
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#33
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Senior Member
Join Date: May 2014
Posts: 3,059
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What we found when doing our research and making offers is a few things re RV loans. The credit union we have belonged to for 20+ years and have a sizeable savings with had the worst rates. Some of the dealers were willing to buy down the rate by as much as 1% as a part of the deal. However the two biggest factors were your credit score and financing a minumum of $50,000 to get the best rate. We were going to pay cash if we didn't get the loan rate we wanted. We have our houses financed thru Bank of America as well as checking/savings accounts there, and that was our dealers preferred bank to deal with. We ended up getting 2.9% thru Bank of America, put a huge down payment down, and most likely will pay it off within 2 years. The bottom line though is the dealer really doesn't get you a rate(unless they buy it down)...it's your credit score and history.
__________________
Mike & Charlotte
2014 Newmar Canyon Star 3610
Orange County, California
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09-03-2014, 11:30 PM
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#34
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Senior Member
Country Coach Owners Club Solo Rvers Club iRV2 No Limits Club
Join Date: May 2011
Location: Vancouver, WA
Posts: 37,725
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I'm looking at a used rig that they want about $280,000 for, we could afford to put 50% down without touching our annuities but my wife has been off work for almost three years now for health reasons and really wants to save the cash.
__________________
2009 45' Magna 630 w/Cummins ISX 650 HP/1950 Lbs Ft, HWH Active Air
Charter Good Sam Lifetime Member, FMCA,
RV'ing since 1957, NRA Benefactor Life, towing '21 Jeep JLU Rubicon Ecodiesel
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09-04-2014, 05:42 PM
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#35
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Senior Member
Join Date: May 2014
Posts: 3,059
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Mr. D, when you put that kind of money down and have a decent credit score, most banks will jump at the change to finance you, the worst that can happen to them is they reposess a MH that has equity in it. The banks like people like us because they can't lose. You might try the bank you normally bank with. B of A's advertised rate at the time we bought was 4.99%, we checked with them and got it for 2.99%. They joked with us and said we would love for you not to make your payments, as alot of people only put down 10%, which barely covers tax and license, and then the depreciation becomes a risk for the bank.
__________________
Mike & Charlotte
2014 Newmar Canyon Star 3610
Orange County, California
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09-05-2014, 02:11 PM
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#36
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Senior Member
Foretravel Owners Club
Join Date: Apr 2010
Posts: 511
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I love not dealing with the crooks who charge money for the privilege of loaning money. If you save the money before hand, you can work a much better price and no interest. A win- win for your family.
Dave M
__________________
Foretravel, 2001, 36' ISM500 "Hot Rod"
F150 w/EZ Golf Cart or
CanAM 800 Max Limited ATV
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