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Old 09-28-2007, 03:34 PM   #1
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Hi all,

I recently applied for and received my first MH loan. I am not a stranger to this kind of thing as I have had several large boats over the years. However, I have never had to jump through so many hoops as with this loan and it is over 100K smaller than any of the other loans I have received in the past. For instance, I have had to get a yacht survey on a used boat before but there are literally thousands of yacht surveyors here in the NE. That does not seem to be the case for an "RV Inspector" I was told by the bank/broker that this was a standard operating procedure that they have been doing for 25 years. "OK", but what do I know, I have been reading this forum for about two years and dont recall anything posted on the subject and told the bank that I have never heard of a RV Inspector before. They left it in my capable hands to get it done before I take delivery on Monday. I found out about this at 4:48PM Friday... I called 3 Winnebago dealers in RI, CT and IA to see if anyone had a lead for me. No luck, no one had ever heard of a bank inspection but did say they could take a look if need be. I also called a guy in TX who advertises online RV inspections, (he didnt sound too busy) and too said he knew of no one in the NE that did that sort of thing. I called the bank back and they said to call "Quick Check" and Family Motor Coach, Quick Check does not exist as far as I could tell and FMC does not offer inspections. I called Winnebago, and they said it should be the banks responsibility to provide if the want it done. So my question, has anyone else had to do this and if so, who do you use? I am in CT.

Thanks - JD
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Old 09-28-2007, 03:34 PM   #2
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Hi all,

I recently applied for and received my first MH loan. I am not a stranger to this kind of thing as I have had several large boats over the years. However, I have never had to jump through so many hoops as with this loan and it is over 100K smaller than any of the other loans I have received in the past. For instance, I have had to get a yacht survey on a used boat before but there are literally thousands of yacht surveyors here in the NE. That does not seem to be the case for an "RV Inspector" I was told by the bank/broker that this was a standard operating procedure that they have been doing for 25 years. "OK", but what do I know, I have been reading this forum for about two years and dont recall anything posted on the subject and told the bank that I have never heard of a RV Inspector before. They left it in my capable hands to get it done before I take delivery on Monday. I found out about this at 4:48PM Friday... I called 3 Winnebago dealers in RI, CT and IA to see if anyone had a lead for me. No luck, no one had ever heard of a bank inspection but did say they could take a look if need be. I also called a guy in TX who advertises online RV inspections, (he didnt sound too busy) and too said he knew of no one in the NE that did that sort of thing. I called the bank back and they said to call "Quick Check" and Family Motor Coach, Quick Check does not exist as far as I could tell and FMC does not offer inspections. I called Winnebago, and they said it should be the banks responsibility to provide if the want it done. So my question, has anyone else had to do this and if so, who do you use? I am in CT.

Thanks - JD
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Old 09-28-2007, 03:45 PM   #3
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Never heard of such an inspection to facilitate an RV loan. Tell them if that requirement is a deal killer you'll have to obtain your financing elsewhere.

Why should they even care if somethings wrong with it, you'll be obligated for the note irregardless?
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Old 09-28-2007, 03:50 PM   #4
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JD - Nothing like that happened when we bought our first class A last June. The only thing they checked was the book value of the MH... probably something like NADA or an equivalent. If I was you I think I'd find a lendor that was a little bit easier to get along with.
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Old 09-28-2007, 04:50 PM   #5
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I've had four motorhomes, and all the lenders wanted was a book value and a list of the included features. Try a Credit Union.
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Old 09-28-2007, 05:09 PM   #6
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Sorry JD,
You need to get someone at that bank that has the slightest idea of what they're doing. In all of my dealings, no such animal. For the record, I've used two banks for 4 different rigs. They didn't even want to see it. As Ken said, faxed a copy of the dealer sheet with features/extras and they did the book value and paperwork.

RV Inspector---out to lunch, good luck with the the new rig.

Best,
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Old 09-28-2007, 05:14 PM   #7
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JD

Have you tried the dealer's finance person to help you? Of the 3 motor homes we purchased, all 3 of the different dealers had a better rate than I could get by searching the FMCA magazine adds. All of them had a bank connection. (Bank of the West was two of them in Calif and we live in Florida)I'm sure, they have worked out the bugs in getting a loan if your credit score is okay s/Toby
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Old 09-28-2007, 06:47 PM   #8
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I have never heard of that either. You may find a moble RV repair guy to take a look at it for you.
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Old 09-29-2007, 02:25 AM   #9
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While I have not heard of such a thing before, I wonder if the current economy has something to do with it? Is there a possibility that a lot of these loan agencies got burned giving out loans they should not have initially? On the other side if I am spending any kind of big bucks I want to know as much as I can about whatever I'm buying, FOR MY OWN SAKE....
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Old 09-29-2007, 02:52 AM   #10
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I tend to agree with you Bill, that is why I asked the question. I know there have been many millions of dollars lent to individuals for homes that are now in default. While you dont hear about that for MH or boat loans on the news, there are many repo companies keeping very busy. Our credit score is in the low 800's so I dont think that is the issue. Perhaps it is just the shape of things to come. Maybe I should start a RV inspection business....

Out.
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Old 09-29-2007, 04:57 AM   #11
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Too late aux-man....

Have a friend that does this in Utah for anyone who will pay him. His job is to verify that the thing exists and makes no 'inspection' of systems. He is a bonded notary, charges 50.00+ travel, and is as busy as he wants to be, which is not.

I think you need to look for another lender.
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Old 09-29-2007, 05:02 PM   #12
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Aux man- I bought a used Mountain Aire on line a year ago. Coming out of the airplane industry, I wanted a "pre- buy inspection" before I drove 890 miles to look at it-- the coach was in that area. I called Camping World in Mission Texas, they had a fellow that does that as an aside. I paid him $150, he told me that some items needed addressing. I made a deal over the phone and bought the coach. It worked out well.

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Old 09-30-2007, 02:46 AM   #13
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Aux Man...The more I thought about your last comment "Maybe I ougt to start my own...." the more I thought it, it would be an excellent service. Think about the millions of dollars that are spent thoughout this nation on the recreational vehicle industry. Even though I had everything but a 5th wheel before our last Class A purchase there were many questions I had three years ago. If there was some place one could go for an UNBIAS opinion of an RV where people could go it would be well worth a couple hundred dollars (when your spending multi thousands, or more). Items like potential problems w/ rubber roofs; specific problems regarding engines, A/C's; Tire identification re: loads and year of make. We can go on and on but the point is even when we feel fairly knowledgeable there seem to be so many other issues that would be good to know before you bought, especially used RV's. How about IRV2? I have learned a wealth of information from this super site and its obvious that there is a treasure box of infomation here, any thought of starting such a Pre Inspection Service
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