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12-25-2018, 12:14 PM
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#29
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Senior Member
Join Date: Oct 2016
Posts: 1,479
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Quote:
Originally Posted by retnasaguy
You can do a lot better than your first choice! Just saying.
Shop around.
Cheers
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Will do!
__________________
2001 Volvo VNL660
2018 DRV Fullhouse JX450
2022 Jeep Wrangler Rubicon
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12-25-2018, 12:27 PM
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#30
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Senior Member
Country Coach Owners Club Solo Rvers Club iRV2 No Limits Club
Join Date: May 2011
Location: Vancouver, WA
Posts: 37,725
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Unless you plan on selling the RV depreciation means nothing.
__________________
2009 45' Magna 630 w/Cummins ISX 650 HP/1950 Lbs Ft, HWH Active Air
Charter Good Sam Lifetime Member, FMCA,
RV'ing since 1957, NRA Benefactor Life, towing '21 Jeep JLU Rubicon Ecodiesel
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12-25-2018, 12:56 PM
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#31
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Senior Member
Join Date: Oct 2016
Posts: 1,479
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Quote:
Originally Posted by Mr_D
Unless you plan on selling the RV depreciation means nothing.
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Plan on keeping it, I don't want to swap out endlessly. Plan on solar and putting some tech/connectivity related stuff to make it more remote work friendly, so it'll be a keeper.
__________________
2001 Volvo VNL660
2018 DRV Fullhouse JX450
2022 Jeep Wrangler Rubicon
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12-29-2018, 09:27 AM
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#32
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Registered User
Join Date: Oct 2016
Posts: 2,078
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Quote:
Originally Posted by Mr_D
Unless you plan on selling the RV depreciation means nothing.
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I agree, you buy for the experience and self satisfaction
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02-04-2019, 06:21 PM
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#33
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Senior Member
Join Date: Jun 2017
Location: Kansas City, MO
Posts: 405
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Quote:
Originally Posted by lwmcguire
I agree, you buy for the experience and self satisfaction
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The worst financial decision i have EVER made and loving every minute of it. lol
You are trading money for memories.
__________________
2019 Fleetwood Discovery 44b
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02-04-2019, 06:34 PM
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#34
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Senior Member
National RV Owners Club Freightliner Owners Club
Join Date: Sep 2017
Location: Rice Lake, Wisconsin
Posts: 790
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Local Credit Union, Loan full NADA value, no money down, 20 yr., 4.49%
__________________
2003 National Tradewinds LTC 7374 FL XC-Chassis IFS, Steer Safe, 8.3 ISC 350 Cummins, 3000MH Allison, 2023 Equinox, Blue Ox Tow-Bar, Brake Master Air Over Hyd
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02-04-2019, 07:05 PM
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#35
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Senior Member
Ford Super Duty Owner
Join Date: Nov 2010
Posts: 1,345
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Quote:
Originally Posted by momdoc
AT 10% down on any MH you buy you will be underwater in year. And if you financed for 20 years you will have it towed to the junk yard after 10-12 years and be lucky to have it half paid off.
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OH CRAP ..... I'm at age 11 now. Should I just drive it to the junk yard now while I still can ??
__________________
Tonkin Gulf Yacht Club
2009 Fleetwood Bounder 35H
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02-04-2019, 08:09 PM
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#36
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Senior Member
Freightliner Owners Club Holiday Rambler Owners Club RV Trip Wizard
Join Date: Jan 2019
Location: Marysville, WA
Posts: 277
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Quote:
Originally Posted by aknavy
So, I've financed a house, many cars, and a lower cost fifth wheel. Is the financing process for a motor home similar to a house, car, in between....what should I expect for the process and documentation?
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What we found when buying our new to us DP was that most banks and financial intuitions will only finance back 10 model years. There are a few that will go 15 to 20 years but even with very good FICA scores the interest rates went up a lot. It was explained to us that the REPO rates on used units was way up in the last down turn in the economy and the lenders are not taking near as many chances as they were before.
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02-05-2019, 04:53 AM
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#37
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Senior Member
Join Date: Oct 2018
Location: Northern VA
Posts: 193
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Look for a simple interest loan vs. amortized. It can save you interest in the long run if you make extra payments or pay off early. And ensure the loan does not have a penalty for early payoff.
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02-05-2019, 05:31 AM
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#38
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Senior Member
Join Date: Jun 2018
Posts: 155
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I purchased by motorhome this past summer and used Southeast Financial. The process was closer to buying a home than a car in that they asked for my financials (which has never happened when car shopping). I was also required by the lender to get a third party inspection, which is a pretty good idea if you aren't an expert yourself. I ended up getting 5.25% for 15 years with 15% down. Neither of my credit unions had rates as good for RV's.
Southeast Financial appears to be a broker, which didn't bother me at all. There was a $300 fee I found when we closed, but the rate they gave me vs what I found elsewhere more than made up for it.
__________________
2009 Discovery 40X
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