If purchasing, where would you go to find financing?

From what I've read, if you want to deduct the interest on your federal taxes (using the RV as a second residence), one qualification is that the RV has to be the collateral for the loan. Something to keep in mind when you are looking for financing.

Allworth wrote:
If there were not enough cash in the Money Market Account, I would use a Home Equity Line. Good interest rate compared to financing loans.

We just financed our new 5'er at 5% through a local bank. If I shopped around more I might have been able to get 4.75% at best. Home Equity line wouldn't have been any better and it would have meant putting the house up as collateral. For a car loan use an equity line does allow interest to be deducted but an RV loan can be deducted anyways. So I saw little benefit. Perhaps your area has better rates on HEL's than conventional financing?

One of the 3 credit unions that we belong to. Whichever had the best rates unless the dealer could beat it.

GoodSam also has reasonable financing rates.. a little higher than Essex

and good sam at least PUBLISHES decent rates and terms for used.

see the link at the top of this page.

I more or less did what therink said. I checked rates everywhere I could think of and had my financing all lined up. My dealer asked if he could take a shot at it and I said OK (what's to lose ?). I told him the rate he had to beat. My impression is that a dealer (especially a volume dealer) does have some pull with the banks.

Essex Credit had good rates when I bought. And they have a special, 'Costco-only' rate if you're a member. My dealer did beat that rate and I ended up going with US Bank.

One thing we learned when trying to sell a TT is that banks around here do not offer good interest rates on used units plus they only offer short financing. We had several people make offers on our TT that we accepted but they could not get financing they could afford. They even tried Credit Unions and the same thing. One person was ok with interest rate if could finance 5years but the bank would only go 3 because it was used. 3 years made the payment too high for them so they passed. The unit was only a 2011 but the bank said that didn't matter...used was used. We bought a brand new one for 3.5% and didn't have a problem with financing thru credit union. Definitely not trying to get you to buy new, just suggesting to do your research to make sure you know where you will secure financing and how much you can go that will have a payment satisfactory to you prior to falling in love with any one unit. It was a real downer (not only to us but to the potential buyers) when financing didn't go as planned when we were selling. We had paid cash when we purchased the TT and had never thought about having trouble selling it only a year later. Good luck to you!

Credit union

PenFed credit union

USAA

I would secure my own loan and rate via online or local credit union before setting foot in dealership and then ask them to beat the rate when making deal. Dealers can usually find better rates. It is a matter of whether they want to pass it along or not.