Getting pre-approved for coach financing

In this day and age, loans get done in a matter of minutes. If you know you'll qualify, no need to worry. I've bought a lot of things over the years and the dealer will generally have the best interest rates if you have good credit. If you doubt it, get the rates from your bank and credit union and be prepared to challenge the dealer's rate. The dealer will always match or do better.

find your own loan company,the dealer gets a huge chunk if you borrow threw them.and you,ll get a lower rate.

We financed thru our credit union. The only thing they can really do ahead of time is run your credit to see what your score is. After that they need the rv details to check values before determining what amount they can loan you.

We found financing with the credit union very easy.

One reason for banks not to pre-approve is that the collateral is undetermined. They might loan you $500,000 or more on a new Prevost, but no where near that much on a new popup trailer. There are many moving parts on an RV loan. Term, monthly payment, age of unit, type of RV, down payment etc. Until you nail all of those down, you really don't have a loan to pre-approve.

When we bought we went through a pre-approval process for our motorhome. Made it go a lot smoother and quicker when we actually went up and bought the motorhome. Signed the initial paperwork on Thursday of one week, contacted the bank where we were pre-approved, sent them sales document, and had the check in about two days (Fed-Ex overnight) and were able to pick up the motorhome the next week.

Do you need pre-approval - probably not. But it makes things go a lot quicker.

I don't know of a preapproval process but I know the apr I got from my rv finance company was pretty horrible. 6 months later I was buying something else and went to my credit union. Lady asked what my rate was. I told her she said oh my how about 2.9. I said yep. The downside was I went from 10 years to 6 years but was only few bucks more.