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Old 10-11-2019, 09:15 PM   #1
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Weird financing issue

My wife and I have separate primary residences in different states. Because of that, we have been told that "the banks" will not finance our purchase of an RV. This sounds absurd to me. Does anyone have any insight for me?

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Old 10-11-2019, 09:29 PM   #2
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Are you looking to buy a new rv, or used. Im guessing a new one would be easier.

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Old 10-11-2019, 09:35 PM   #3
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Old 10-11-2019, 09:49 PM   #4
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Call a bank that finances RV purchases and inquire about . The banks that specialize in financing seem to be Essex and Bank of the West. There may be others as well.
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Old 10-11-2019, 11:10 PM   #5
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I take it you are hearing that from the Dealer Salesman/Finance Guy......

Go get your OWN financing and bypass the Dealer
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Old 10-12-2019, 12:22 AM   #6
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yep, find your own financing. Just about anytime you finance from a dealer, he/she will get a percentage cut. USAA is a great place to finance, but there are lots of others, shop around for the best rate. I once had a bank tell me they would not finance a tornado shelter because we lived to far away from the the bank in the DFW area. I said fine, your loss, my gain. Went to a couple of other finance places and found better rates. I laughed when the contractor told me why I was turned down. I asked him if he thought they were going to come out and dig it up, if I failed to make payments. He just smiled. Anyway, his finance guy lost a percent, and the bank lost the rest. You'll find someone, just keep looking. I own two properties and did not have a problem getting a loan. Good finance companies look at the whole picture.
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Old 10-12-2019, 12:57 AM   #7
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It should not be a problem if you finance with only 1 person on the loan. You can add the other person to the registration & title. USAA require the other person sign an addendum after they receive the title from the DMV.
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Old 10-12-2019, 09:29 AM   #8
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Welcome to the forum.

You are joining a good group of folks here with good info to share.

Try contacting Alliant Credit Union. Easy to work with and very good rates. We had to finance with NO us physical address and our home address in the Dominican Republic and tney were able to secure our loan with minimal difficulty.

Good luck and ejoy the adventure!
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Old 10-23-2019, 03:17 PM   #9
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We were turned down by our credit union because we lived full time on our 48 foot boat. Same address for years and years and the credit union had years and years of history with us. We did not put the information down in the loan paperwork as it was not asked. They got it from our mailing address at the marina is all I can figure out. They stated it in the paperwork that living on a boat was the issue.

We did get financing through Horizon Credit Union in Spokane. Good rates and easy to deal with. They are not near where we live, but do RV loans at good rates. They were the only other place we applied with and it only took an afternoon to get it all done with them via email. The dealership finished what was needed to finalize the paperwork for them.

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