Community Forums

mccrob · 10-18-2015, 10:13 PM

Just got mine through Essex credit they are a division of Bank Of The West. Terrible experience thought of canceling several times but was too far into the deal, never again

Larryg17 · 10-18-2015, 10:45 PM

Bank of the West worked great for us. We just did one in the same range you are looking to do.

TexasTom · 10-19-2015, 08:26 AM

Did ours though Essex and Bank of the West. Process was fine, got a rate below 4%. A key component for me was the loan language, which was standard/acceptable. I found when reviewing the loans from a couple different banks & credit unions (and talking with them) that many included demand language which gave them the ability to demand immediate payoff on the loan at any time, even if the loan payments were all on time.

Rossi6998 · 10-19-2015, 08:51 AM

Quote:

Originally Posted by mccrob

Just got mine through Essex credit they are a division of Bank Of The West. Terrible experience thought of canceling several times but was too far into the deal, never again

I have used Essex Credit three times. The first time, everything went flawless. The second time, the person had to overnight me the paperwork twice due to errors on their part. The third time went flawless.

A lot of it depends on who is handling your paperwork. The second time, it was obvious we had someone new who was learning the process.

Sidewinder4 · 10-19-2015, 09:21 AM

All great responses: Dealership information beat everyone I had looked at. Bank of America came out best only because the dealership had their information.

steve11669 · 10-19-2015, 11:15 AM

My credit union charges me 13% on an 10 year RV loan of 70k (used). I don't know if that's average but seemed a bit high to me. I did have some financial problems several years ago but things were good in May when I borrowed the money.

I didn't try an other lender because I've always been happy with my credit union.

Nana25K · 10-19-2015, 03:02 PM

Alliant Credit Union. They absolutely know what they are doing. And they specialize in fulltime RV's too. Our financing was done in 3 days start to finish. They do everything via electronic except you have to initially fax your ID stuff to open the account. They also give a rate discount to Escapees members.
One if their service reps even stayed over waiting for one our wire transfer s to arrive so they could get the check overnighted to us the same day. Service is what they know and do

Hamshog · 10-19-2015, 03:05 PM

Hey Steve 11669,

That's crazy high! Just paid off the Bank of the West loan we had at 3.65% for $80,000.00. Run from 13% fast!

Regards, Howard

Digger29 · 10-19-2015, 03:48 PM

Totally agree. 13% is way too high and you should definitely look elsewhere. We just got 4.24% through Bank of America on our 15 Itasca 36G. We could've gotten into the 3's but that lender was dragging their feet and kept asking for this and that so we said F it and went with Bank of America.

vonguerrero · 10-26-2015, 02:43 PM

Hi everyone. I'm new to irv2. We've got a 21 foot camper which we're selling and we're buying a used Damon Daybreak 3276 class A. My whole family is excited to be able to stretch their legs. My question is I've signed the loan docs for M&T bank at the dealership for 5.9% but then found Essex is offering 4.85%. I haven't actually taken delivery of the Damon yet since its going through the shop for a once over at the dealership. Am I still able to switch finance companies? I know the dealership won't be to happy about that since they get a kickback from their lender. I'd appreciate any advice. Von

Peteyboy · 10-26-2015, 04:20 PM

Bank of the West,,, 2.99% on a new Winnie.

bobgio · 10-27-2015, 03:22 AM

We ended up going through Essex/Bank of West. Done in one day, easy, flawless. Rate below 4%

vonguerrero · 10-27-2015, 07:13 AM

Just found out that once the original financing contracts are signed there's no changing it. The only option would be to refinance. Delaware has no grace period. The dealership also gets a kickback. I was later told that you can negotiate with the dealership in regards to the finance rate. Good to know for the future.

mccrob · 10-27-2015, 09:02 AM

Maybe because I bought my coach from a private party Essex was terrible to work with over 3 weeks to close deal no communication slow paperwork. Just not a great experience but a good rate 4.25. Won't use them again