Hello, All:
In about 12 days I will be driving out to the Cruise America in Orlando, FL. to pick up a Majestic Four Winds 28A. Naturally I started to look for financing options and found some pretty great rates from many lending institutions but I have run into a Snag. I am learning, very quickly, that many RV finance Companies will either Not finance or Finance at a higher rate if the Rig, that your are trying to buy, has more than 100K miles on it. Sure most units from former rental companies are not older than 5 years but they do have over 60K miles on them (60K is the max on Gasoline engines that your unit can have for most finance institutions to even consider the loan). The unit I am interested in 110,000 miles on it.
I would love to hear from anyone who has had to finance in order to buy a former rental unit. Who did you go with or what was your experience? My goal is to obtain a 120 month or 10 year loan with a competitive rate. Good Sam and Essex Credit (which I think are the same company) both do not finance RV's that are over 60,000 miles on a gasoline engine.
As always, its great to hear from you all.
Trying to stay positive (thought of purchasing new already rolled through my mind once). Thanks.
Steve
