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Old 02-17-2016, 03:46 PM   #1
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Financial institution advice/counsel.

Hi all -

The time has come to talk money. I have three places that I am looking at. Do any of you have recent experience with these folks for an RV loan?

> U.S. Bank: I'm familiar with...

> Bank of the West: Have read good things about them here.

> Southeast Financial: Out of Kansas City area. Does RV loans but I have no information on them.

Are there others that you would strongly recommend?... Or, to stay away from at all costs?!

BTW: We're purchasing a 2006 Revolution from a private owner in excellent condition. Credit should be no problem.

Thanks in advance!!

Dave C
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Old 02-17-2016, 03:49 PM   #2
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Ours is through US Bank. Only "problem" we've had is they didn't issue a correct form for interest deduction on the MH, but I should have it this week.

BTW, for those naysayers out there: we earn more on our annuity than we pay in interest so no reason to pay cash.
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Old 02-17-2016, 03:49 PM   #3
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We have our loan through US Bank and they have been great.
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Old 02-17-2016, 03:51 PM   #4
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Previous motor home - US Bank, no problems at all.
Current - Bank of America arranged through dealer - so far so good.

The only thing you need to check is some institutions are hesitant to loan on motor homes that are ten years and older.
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Old 02-17-2016, 04:44 PM   #5
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Southeast Financial is Excellent.

Also check into Alliant Credit Union where our current rv is with.
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Old 02-17-2016, 06:59 PM   #6
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I finance thru Essex on the Costco Website. My loan was setup with Bank of the West. I have had no issues. Also for going thru Costco I received a Costco gift card for $50 or may be it was $100
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Old 02-17-2016, 07:12 PM   #7
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Bank of the West twice with no problems. Currently have no loan.
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Old 02-17-2016, 09:04 PM   #8
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I've used Southeast Financial. They aren't a lender, but a broker. They find a bank to lend you the money.
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Old 02-19-2016, 01:56 PM   #9
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Bank of the West has been excellent by us
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Old 02-19-2016, 03:48 PM   #10
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I went through my own bank. 2.97%
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Old 02-19-2016, 06:21 PM   #11
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Eastern bank

Eastern Bank. Very good to deal with.

We are still awaiting our first RV, due in May or June (Leisure Travel Libero).

Our financial plan of attack was just before we retired and we were still in fairly good paying jobs and looked good on paper we took out a $200,000 home equity line of credit which is good for 10 years. So for the next 10 years we have the ability to just write a check anytime we want and although the rate is tied to the prime it is currently at around 3%. (yes we told them we were retiring)
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Old 02-21-2016, 03:15 PM   #12
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Thanks all for the input. Now to put the good advice to use!

Dave C
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Old 02-21-2016, 08:12 PM   #13
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Alliant Credit Union. Fast efficient know their stuff. Call and ask for Rich Holke
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Old 02-21-2016, 09:22 PM   #14
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Quote:
Originally Posted by Mr_D View Post
Ours is through US Bank. Only "problem" we've had is they didn't issue a correct form for interest deduction on the MH, but I should have it this week.
Mr. D what form are you referring to? Our tax preparer has always explained what the deduction is, without any problems. The loan is an installment loan, not a mortgage.

Fred
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