Financing

alarmingfriend wrote:
2 years ago I purchased my first Motorhome, it is 17 years old and 3 months ago decided to sell the house and move into the Motorhome full-time. Now I am looking at a New used rigs but wonder about financing it. My bank doesn't finance RV's and I don't trust the local Thor Dealer to finance $60k to $80k on a 2018 or 2017 rig. Anyone have a suggestion?

Update:

Picked up a 2018 Thor Challenger last month, Financing through the dealer was ok, ended up with 5% interest which upset me due to my Credit score "Mid 800's" normal mortgage was at 4.2% but live goes on. Now I am dealing with the Flexsteel drivers seat that is tilted in towards the passengers seat and when turned to watch TV the tilt stays, dealer is useless and I am about to disassemble it to figure out why. FlexSteel says bring it to the dealer, dealer says take is to Ford, Ford says Manufacturer so screw it. Hope someone else has run into this with the driver seat so i can get this tilted seat fixed.
HELP

Walaby wrote:
Why don't you trust the dealer? If you trust him enough to make the purchase, why not trust him enough to find financing?

Mike

Same thoughts on this. see what financing they have and decide if it is right for you. We have USAA and can finance anything and have confidence at all turns tho. It isn't the dealer to finance, it is the bank they offer thru them.

Plus going into full time with that dreaded payment stinks :)

Alliant credit union does RV loans. I’m very happy with them.

As long as the rate and term is OK why would you fear any loan?
Do you think they will take your money and not credit the balance?

Always good to shop and know what a good rate is. Frequently the dealer will be able to beat the rate of a bank or CU.

Don’t understand your distrust of the dealer regarding financing. Let him/her present their findings. You don’t need to accept it.

The Escapees RV Club has information on a number of nation-wide lenders who finance RVs for full-timers. Ours is with Bank of the West who do a lot of RV loans, but there are many others out there. USAA would have financed it but are prohibited by their charter from financing anything being used as a home or domicile.

Rob

Why don't you trust the dealer? If you trust him enough to make the purchase, why not trust him enough to find financing?

Mike

Ask your rv dealer, or another in the area, what banks or possibly a credit union does handle them. Since you had a mortgage, you should have enough "history" for most lenders to make a determination.
The other item that come to mind is who have you purchased an automobile through? Was that a possible source?