Greetings Everyone! My wife and I have been saving money for a couple of years and we are looking at replacing our Truck and looking at purchasing a toy hauler with a 4 seat side by side.I've done exhaustive research on the products (trailers, Trucks and Toys) What I didn't consider was the impact to our credit when we make these purchases. Has anyone on here just gone "All In" so to speak with going into this? Do I need to plan on buying all items within short succession of one another? Our buying power is not an issue for us as we have great credit and the ability to pay for said items.Below is what we are looking at, I would appreciate your thoughts on any of these if you have them. I'm not a brand loyalist when it comes to trucks, I have a 2017 Dodge 1500 right now. I picked the Ford because I like the options better than the new 3500 Dodge Dually's.2020- Grand Design Momentum 381M2019/2020- Ford 450 2020- Can Am Maverick X3 MaxThanks for your consideration, I'm looking forward to being a part of this community!!! Glen

Looks like you’ve got enough truck for the trailer and enough garage space for the X3 so good planning on your partIf you get bit by the bug like I did, plan for another $8-10k you’ll likey dump into that X3. Lots of good knowledgeable folks over at Maverickforum.net when you get ready to buy.

We purchased our truck and FW within weeks of each other. When we were ready, we discussed what we wanted to do with our loan officer with our credit union. He took care of everything, just emailed him the buyer's orders and money was placed into our checking account and we wrote the checks. Couldn't have been any easier.

N-Trouble wrote:Looks like you’ve got enough truck for the trailer and enough garage space for the X3 so good planning on your partIf you get bit by the bug like I did, plan for another $8-10k you’ll likey dump into that X3. Lots of good knowledgeable folks over at Maverickforum.net when you get ready to buy.Are you a regular over there? I'll keep an eye out for you. What's your username? Mine is the same as here.

G. Allen wrote:Greetings Everyone! My wife and I have been saving money for a couple of years and we are looking at replacing our Truck and looking at purchasing a toy hauler with a 4 seat side by side.I've done exhaustive research on the products (trailers, Trucks and Toys) What I didn't consider was the impact to our credit when we make these purchases. Has anyone on here just gone "All In" so to speak with going into this? Do I need to plan on buying all items within short succession of one another? Our buying power is not an issue for us as we have great credit and the ability to pay for said items.Below is what we are looking at, I would appreciate your thoughts on any of these if you have them. I'm not a brand loyalist when it comes to trucks, I have a 2017 Dodge 1500 right now. I picked the Ford because I like the options better than the new 3500 Dodge Dually's.2020- Grand Design Momentum 381M2019/2020- Ford 450 2020- Can Am Maverick X3 MaxThanks for your consideration, I'm looking forward to being a part of this community!!! GlenOne hidden cost to be aware of is the insurance for the F450. When I got my insurance for my RAM 3500 dually, a couple sources told me that I was on the cusp of not being insurable through my private policy because the truck was too big to be used non-commercially.I'm sure there are carriers that would write the policy, but you'd lose out on your multiple-policy discounts, etc. Just something to keep an eye on.Good luck with your shopping.

That's a Great point Dedmiston, and exactly why I am asking the questions now! I most concerned with what I don't know or don't know to ask.

Trailers, Trucks and Toy's Oh My... | Good Sam Community

discovery4us
Explorer
Jun 07, 2019
Many years ago we did the same thing. Used our Credit Union for new truck, trailer, and utv loans. We negotiated with the dealers. Got a Bill of sale for each purchase took them to the Credit Union and was issued a check for each purchase. Next morning we picked up the truck drove over to the RV dealership had hitch installed and picked up FW and then to the Polaris dealership to pick up the Ranger. Looking back it was probable not the wisest financial chose but it sure was exciting and I would do it again in a heartbeat. Credit score and bank accounts will both build back up.
G__Allen
Explorer
Jun 07, 2019
Well good for her! That's really helpful, I will look into some of the credit unions in my area and see what our options are for that route. Thank you again for your input!
eDUBz
Explorer
Jun 06, 2019
G. Allen wrote:
Thank you eDubz! When you did all three at one shot did you go with a credit union or just a regular bank? We have been bank with Wells Fargo for years, but i've heard many times now that a credit union is where the better rates are at. What are your thoughts on this?

Thank you again! Very Helpful!

Glen

I too have Wells Fargo for personal and business checking and the credit unions always beat them.
dedmiston
Moderator
Jun 06, 2019
G. Allen wrote:
Thank you eDubz! When you did all three at one shot did you go with a credit union or just a regular bank? We have been bank with Wells Fargo for years, but i've heard many times now that a credit union is where the better rates are at. What are your thoughts on this?

Thank you again! Very Helpful!

Glen

We bought a new car, a new to us truck (see sig), and new toy hauler (see sig) all in the span of two months. We used my credit union instead of our bank. The CU gave great rates and didn't balk at the three large purchases so close to each other. I got to know my rep really well and she took great care of us. But then dumb me made a big production out of praising her to her supervisor and then she was immediately promoted to some other branch.
G__Allen
Explorer
Jun 06, 2019
Thank you eDubz! When you did all three at one shot did you go with a credit union or just a regular bank? We have been bank with Wells Fargo for years, but i've heard many times now that a credit union is where the better rates are at. What are your thoughts on this?

Thank you again! Very Helpful!

Glen
eDUBz
Explorer
Jun 05, 2019
Yes your credit will take a hit, I had perfect credit and I pulled 3 loans back to back and it dropped but I’m still A+ credit. I had 849 when the bank gave me my loans, when it finally got reported to the credit bureau it went to 780 - At some point in time you have to cash out your perfect credit to take adavantge of all the no interest offers and crazy promotions they have ;) I don’t plan on pulling any more loans out so I’m not worried. It will be back up in no time, we build our credit to use so i say go for it .
Blackdiamond
Explorer
Jun 05, 2019
WOW, all brand new and loans for everything. Save yourself $50K and buy used, lots of stuff out there with little use to be had at a decent price, especially on the TH, let someone else take the hit and work through the issues of a new trailer and getting it dialed in. Pay cash if you can, these are toys that depreciate quickly.
G__Allen
Explorer
Jun 04, 2019
That's a Great point Dedmiston, and exactly why I am asking the questions now! I most concerned with what I don't know or don't know to ask.
dedmiston
Moderator
Jun 04, 2019
G. Allen wrote:
Greetings Everyone!

My wife and I have been saving money for a couple of years and we are looking at replacing our Truck and looking at purchasing a toy hauler with a 4 seat side by side.

I've done exhaustive research on the products (trailers, Trucks and Toys) What I didn't consider was the impact to our credit when we make these purchases. Has anyone on here just gone "All In" so to speak with going into this? Do I need to plan on buying all items within short succession of one another?

Our buying power is not an issue for us as we have great credit and the ability to pay for said items.

Below is what we are looking at, I would appreciate your thoughts on any of these if you have them. I'm not a brand loyalist when it comes to trucks, I have a 2017 Dodge 1500 right now. I picked the Ford because I like the options better than the new 3500 Dodge Dually's.

2020- Grand Design Momentum 381M
2019/2020- Ford 450
2020- Can Am Maverick X3 Max

Thanks for your consideration, I'm looking forward to being a part of this community!!!

Glen

One hidden cost to be aware of is the insurance for the F450. When I got my insurance for my RAM 3500 dually, a couple sources told me that I was on the cusp of not being insurable through my private policy because the truck was too big to be used non-commercially.

I'm sure there are carriers that would write the policy, but you'd lose out on your multiple-policy discounts, etc. Just something to keep an eye on.

Good luck with your shopping.
dedmiston
Moderator
Jun 04, 2019
N-Trouble wrote:
Looks like you’ve got enough truck for the trailer and enough garage space for the X3 so good planning on your part

If you get bit by the bug like I did, plan for another $8-10k you’ll likey dump into that X3. Lots of good knowledgeable folks over at Maverickforum.net when you get ready to buy.

Are you a regular over there? I'll keep an eye out for you. What's your username? Mine is the same as here.

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