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Old 12-25-2018, 12:14 PM   #29
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Originally Posted by retnasaguy View Post
You can do a lot better than your first choice! Just saying.
Shop around.
Cheers
Will do!
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Old 12-25-2018, 12:27 PM   #30
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Unless you plan on selling the RV depreciation means nothing.
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Old 12-25-2018, 12:56 PM   #31
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Unless you plan on selling the RV depreciation means nothing.
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.
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Old 12-29-2018, 09:27 AM   #32
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Unless you plan on selling the RV depreciation means nothing.
I agree, you buy for the experience and self satisfaction
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Old 02-04-2019, 06:21 PM   #33
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I agree, you buy for the experience and self satisfaction


The worst financial decision i have EVER made and loving every minute of it. lol

You are trading money for memories.
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Old 02-04-2019, 06:34 PM   #34
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Old 02-04-2019, 07:05 PM   #35
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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.
OH CRAP ..... I'm at age 11 now. Should I just drive it to the junk yard now while I still can ??
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Old 02-04-2019, 08:09 PM   #36
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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?
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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Old 02-05-2019, 04:53 AM   #37
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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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Old 02-05-2019, 05:31 AM   #38
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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.
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