Community Forums

Dave1132 · 03-18-2013, 02:24 PM

Where is the best rates found for RV financing??

cc8375 · 03-18-2013, 05:03 PM

I made out best with Bank of America, 3.89%

PyrateSilly · 03-19-2013, 07:35 AM

We got ours thru my credit union for 3.9% and that was 2 years ago

beenthere · 03-22-2013, 09:46 AM

also thru Railway credit union and they just said yes at 3.99% and ten yrs//and no down in 11 of '12

johnsong3 · 03-22-2013, 04:41 PM

We just got 3.74 with US Bank for 20 years. We will be dead before payoff if we stick with this program. We always take the best rate for a longer term and pay off at leisure, but always early. Never know what the future may hold.

reubenray · 03-22-2013, 04:48 PM

Will it be better to apply for the loan on our own and through the dealer? Our credit rating was over 800. The dealer made the comment we should get around 4.5% for an $85,000 loan.

PyrateSilly · 03-23-2013, 01:12 PM

Look into what your bank or credit union's rates are. See about getting pre approved before signing for the RV. Most paperwork will be done by then and things go quicker.

We always get pre approved before any vehicle loan and that's including for the Harley. We end up with much better rates doing it that way. We got 3.9% for both the RV and the Harley thru our CU

Jim_HiTek · 03-23-2013, 01:20 PM

I've been carrying a 750 odd credit rating for 30 odd years. My mistake, so I've been told, was not using credit enough. Only using it for my mortgage and for vehicle purchases. Seldom used the CC and paid it off either monthly, or way faster then the minimum payment. Paid off my mortgage 10 years early.

Because of not having much of a credit history, my credit union is asking for 13.7% for an RV loan! I'm hoping I can find one in the 8-9% range with someone else...if I'm lucky.

Of course I'll shop around, but just wanted to mention that not everyone that pays their bills on time and never over extends with CC purchases gets those good rates people are talking about.

StevieG · 03-23-2013, 04:22 PM

Quote:

Originally Posted by Jim_HiTek

I've been carrying a 750 odd credit rating for 30 odd years. My mistake, so I've been told, was not using credit enough. Only using it for my mortgage and for vehicle purchases. Seldom used the CC and paid it off either monthly, or way faster then the minimum payment. Paid off my mortgage 10 years early.

Because of not having much of a credit history, my credit union is asking for 13.7% for an RV loan! I'm hoping I can find one in the 8-9% range with someone else...if I'm lucky.

Of course I'll shop around, but just wanted to mention that not everyone that pays their bills on time and never over extends with CC purchases gets those good rates people are talking about.

I am a banker for over 30 years and can tell you that a 750+ credit score is excellent. No apologies necessary. You should get one of the lowest rates out there.... So seriously... If your credit union is telling you 13%, it's time to change banks! What you don't want to do is let too many lenders run your credit. Every inquiry is actually a small ding to your score. So Unless you have income verification issues, shop around and apply for the best rate. Good luck!