Journey with Confidence RV GPS App RV Trip Planner RV LIFE Campground Reviews RV Maintenance Take a Speed Test Free 7 Day Trial ×
RV Trip Planning Discussions

Go Back   iRV2 Forums > THE OWNER'S CORNER FORUMS > Monaco Owner's Forum
Click Here to Login
Join iRV2 Today

Mission Statement: Supporting thoughtful exchange of knowledge, values and experience among RV enthusiasts.
Reply
  This discussion is proudly sponsored by:
Please support our sponsors and let them know you heard about their products on iRV2
 
Thread Tools Search this Thread Display Modes
 
Old 06-27-2022, 09:37 AM   #1
Junior Member
 
Join Date: Oct 2019
Posts: 2
Motorhome lenders and a coach review

Hello all, long time lurker. Been doing a lot of research here and reading.

I probably missed this one topic along the way so I thought I would just ask it here, I apologize if itís the wrong place.

Wife and I are getting close to pulling the trigger on our first coach and was wondering who people recommend for good motorhome lenders. Who would you recommend and who would you tell me to stay away from.

On my review question, for those of you familiar with holiday rambler, do you have any pros and cons you could tell me about your experience with? We are looking at potentially purchasing a 2005 Holiday Rambler 40PLQ, very clean 70,000 mile unit.

Looking forward to any help on these two topics and again, sorry if this was posted in the wrong place.
JamisonJ is offline   Reply With Quote
Join the #1 RV Forum Today - It's Totally Free!

iRV2.com RV Community - Are you about to start a new improvement on your RV or need some help with some maintenance? Do you need advice on what products to buy? Or maybe you can give others some advice? No matter where you fit in you'll find that iRV2 is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with other RV owners, see fewer ads, upload photographs, create an RV blog, send private messages and so much, much more!

Old 06-27-2022, 10:31 AM   #2
Senior Member
 
deprived's Avatar
 
Join Date: Nov 2013
Posts: 501
First off, Holiday Rambler is generally speaking a great coach. Google (and this forum) are your friend, so look up as much as you can so you won't be blindsided by a common or predictable problem. All coaches and manufacturers have their quirks or in some cases, catastrophes.

As far as lenders go, I like USAA or Wells Fargo.

Bear in mind that lenders will only loan you book value (or less) on an older coach.

Years ago we bought a super-restored 1986 Sunrader that was worth about 15 grand but the blue book was something like 8k because at that point most 1986 campers are pretty much ready for the scrap-yard.

One thing I've seen a lot is new coach owners sometimes do not set aside enough money for the inevitable first-round maintenance all new owners must face. RVs ARE nothing but maintenance, replacing and fixing. That's the truth, but if you're cool with it, then owning an RV is great. But even your super-great-shape used RV is going to need a round of fixes and replacements that eluded the inspector.

Good luck and be careful!
__________________
Full -Time On The Road
2008 Tiffin Allegro Open Road 35QBA
6.7L Cummins ISB Tuned to 300HP
deprived is offline   Reply With Quote
Old 06-27-2022, 10:49 AM   #3
Senior Member
 
dizcom's Avatar


 
Freightliner Owners Club
Holiday Rambler Owners Club
Join Date: Jun 2021
Posts: 1,601
Bank of the West, USBank, Bank of America are common. We've used all three of them and they all work about the same. Good idea to shop a bit. Some only work through dealers.



Holiday Rambler is a great coach. They've been an innovator in the industry for years and are often copied by others. Great bang for the buck, they typically have more features for the money than any other brand. The 40PLQ was an interesting design. Left some room for customization without a bunch of hassle. I'd bet you could configure it to your liking easier than a lot of newer coaches. Good luck!
__________________
2021 Holiday Rambler Armada 44LE
2021 Jeep Wrangler High Altitude toad w/Ready Brute Elite II
dizcom is offline   Reply With Quote
Old 06-27-2022, 11:00 AM   #4
Senior Member
 
puttin's Avatar
 
Winnebago Owners Club
Ford Super Duty Owner
Join Date: Dec 2009
Posts: 2,380
Some good news is you won't need to do financing from a dealer! Bank of the West has changed to something else as of last year but in name only. I'd check with your bank first. Congrats on the new rig!
__________________
2008 Winnebago Sightseer 35-J
puttin is offline   Reply With Quote
Old 06-27-2022, 01:17 PM   #5
Senior Member
 
vito.a's Avatar
 
Monaco Owners Club
Join Date: Oct 2009
Location: Tucson, AZ
Posts: 5,968
Monaco Coach Corp purchased Holiday Rambler in 1996. At the time, Monaco was the largest RV manufacturer in the world. The entire RV industry crashed in 2008-2009 and Monaco Coach Corp was Sold to Navistar. Navistar later sold Monaco Coach to Allied Specialty in 2013 which later morphed into REV Group. Current model year Holiday Rambler coaches are actually rebadged Fleetwood coaches.

So, a 2005 model was build by Monaco and should be very good quality.
However, your description is missing the model name within the Holiday Rambler lineup: " Endeavor, Imperial, or Navigator.

I would start talking with lenders early as many will not finance an RV older than 10 years.
Best of luck!
__________________
97 Monaco Windsor- Sold
07 Monaco Executive McKinley- Sold
04 Monaco Signature Chateau IV
vito.a is offline   Reply With Quote
Old 06-27-2022, 07:37 PM   #6
Senior Member
 
Isaac-1's Avatar
 
Join Date: Jun 2016
Location: SW Louisiana
Posts: 7,600
Be aware that most of the major lenders will not do RV loans on coaches over about 12 years of age. Having said that many people have found success getting loans on RV's older than this through local financing options, most commonly through local credit unions, though we did finance our coach when it was 14 years old through a local bank, though our story on this may be more of an exception than the rule as I have a substantial past relationship with the bank, and we only financed over a 3-4 year period in order to avoid taking a tax hit on liquidating stocks to get cash on hand to make the purchase.
__________________
2002 Safari Trek 2830 on P32 Chassis with 8.1L w/ 400 watts solar 420Ah LiFePo4
2017 Jeep Cherokee Overland & 2007 Toyota Yaris TOADs with Even Brake,
Demco Commander tow bar and Blue Ox / Roadmaster base plates
Isaac-1 is offline   Reply With Quote
Old 06-27-2022, 07:58 PM   #7
Senior Member
 
Flyer15015's Avatar
 
Fleetwood Owners Club
Workhorse Chassis Owner
Join Date: Jun 2016
Location: On the continental divide
Posts: 1,146
Why not try a home equity loan and bring the purchase cost down with a cash offer?
You might get a much lower interest rate on a home loan too.

Mike in Colorado
__________________
2004 Fleetwood Pace Arrow 37c,(Jezebel) Ultra RV ECM / TCM, PPE deep TX pan, Bilstein's, Sailun's & Sumo's all round, pushed by a 2014 Chrysler T&C, on a Master Tow Dolly.
Flyer15015 is offline   Reply With Quote
Old 06-28-2022, 01:24 AM   #8
Senior Member
 
Timaz's Avatar
 
Monaco Owners Club
Join Date: Aug 2017
Location: On the road
Posts: 1,654
I would say go to a credit union or see if the dealer uses a credit union. You will find better rates with them.
Tim
__________________
Full Time 2000 Dynasty Regent FD, 8.3, Banks Turbo, 5" Diameter Exhaust, 475 HP 1425 Torque towing 05 Pilot 700 Watts solar 400ah lithium & E-Bike
Timaz is offline   Reply With Quote
Old 06-28-2022, 07:57 AM   #9
Junior Member
 
Join Date: Oct 2019
Posts: 2
Thank you all very much for your replies. after much deliberation, I think I’m going to pass on this one for now. After a couple of long closer look meetings there are Too many little things that need to be fixed, Adding up to more than I care to put into her just starting out
JamisonJ is offline   Reply With Quote
Old 06-28-2022, 08:13 AM   #10
Senior Member
 
Join Date: Mar 2019
Location: Lansing MI
Posts: 2,569
There is some good information here regarding financing. The cheapest method would be to use your home as collateral and get some sort of a home equity loan possibly a cash-out refi. With rates finally actually starting to rise I might avoid an equity loan as they are generally variable rate. I would also go with an institution you are familiar with if you go with an older coach as they will be more familiar with you. I would also stick with a fairly short amortization period but this likely won't be possible if you go the cash-out refi route. Whatever you do find a good coach and good luck.
__________________
An Old Fisherman
2017 Nexus Ghost 36DS, 2004 Ford F150 Long Bed
2007 Harley-Davidson Ultra Classic
arcaguy is offline   Reply With Quote
Old 06-28-2022, 09:47 AM   #11
Senior Member
 
Flyer15015's Avatar
 
Fleetwood Owners Club
Workhorse Chassis Owner
Join Date: Jun 2016
Location: On the continental divide
Posts: 1,146
Yup, a refi is most likely better than a home equity, and the interest is tax deductible.
Well, at least for now..........
__________________
2004 Fleetwood Pace Arrow 37c,(Jezebel) Ultra RV ECM / TCM, PPE deep TX pan, Bilstein's, Sailun's & Sumo's all round, pushed by a 2014 Chrysler T&C, on a Master Tow Dolly.
Flyer15015 is offline   Reply With Quote
Old 06-28-2022, 09:59 AM   #12
Senior Member
 
Diesel-Lover's Avatar
 
Join Date: Nov 2002
Location: OH
Posts: 816
A NOTE on the NOTE you are about to undertake... The depreciation of the Rig is fast and furious specially when its new and new ish and does slow down after a bit and then speeds up like lightening after that... find a sweet spot if buying used. Kiss the money goodbye if buying new!


Once you get into this hobby, its all consuming monetarily and time wise as well. Maintenance is a blitch and service levels from the shops, manufacturers etc. pitiful, well self pitiful as they don't give a hoot generally speaking.


Bright side is once you are addicted you will keep on keeping on and always come back to a rolling palace with your own bed parking at places that charge the same as motel rooms to 5 star resort property suites. Paying mega bucks for fuel and spending hours behind the wheel but you do it your way and that is the benefit and at your schedule well sorta c.s you gotta get to the next parking spot and keep the reservation... back in the day reservations were not all that necessary as there were extra spots, now even the least likely place is filled to the gills bum to bum and armpit to armpit.
__________________
RUSTIC is good.
Kudos to those who make Local, State & Federal Parks & Campgrounds possible and to those picking up the slack by Providing Private Campgrounds.
Diesel-Lover is offline   Reply With Quote
Old 07-01-2022, 04:03 AM   #13
Senior Member
 
Inthe70s's Avatar
 
Join Date: Sep 2011
Location: Castle Rock, CO
Posts: 450
We recently bought a 2007 Holiday Rambler Navigator 45í w/ 50k miles and in excellent condition. I consider it to be one of the best quality production coaches built. I put 1/3 cash down and financed the rest through my credit union. I also bought it for about $70K under NADA. Our credit union is one of the few that doesnít care about the age and itís based upon nada value and your fico score and overall credit worthiness. I could have did a HELOC or equity loan but I do not like taking money out of our home. I got a 4% interest rate and they gave me $300 bonus. I plan to pay it off over 3-4 years.
Attached Thumbnails
Click image for larger version

Name:	85A2439C-1BF6-475F-935D-2B52A6BE5C7D.jpg
Views:	11
Size:	309.6 KB
ID:	369811  
Inthe70s is offline   Reply With Quote
Old 07-01-2022, 11:17 AM   #14
Senior Member
 
KenZ71's Avatar
 
Join Date: Nov 2017
Location: Back Woods of NC
Posts: 835
Jeff.McLeod@newcoast.com got me a great rate a month ago when we bought our 10 year old coach.

Also Sarah.Haroldson@newcoast.com helped us tremendously for insurance

from signing purchase and sale to taking possession was one week.
__________________
2012 Newmar King Aire w/ Roadmaster Falcon 2 Tow Bar
2020 Cherokee Trailhawk w/ Blue Ox Base Plate
KenZ71 is offline   Reply With Quote
Reply

Tags
motor, motorhome, view



Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Lenders sleeper41 Class A Motorhome Discussions 15 02-26-2019 09:08 PM
Lenders micbob4 iRV2.com General Discussion 14 05-08-2018 12:46 PM
Reputable RV lenders Starbreaker Travel Trailer Discussion 15 03-25-2016 01:58 PM
Motorhome Magazine Review of Anthem 44SL RW8804 Entegra Owner's Forum 14 10-30-2014 11:35 AM
MotorHome magazine does nice review of 40' Alpine Danny Gayhart Alpine Coach Owner's Forum 4 12-09-2006 04:27 AM

» Featured Campgrounds

Reviews provided by


All times are GMT -6. The time now is 11:15 PM.


Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2022, vBulletin Solutions, Inc.