Refinancing a Class C - any helpful advice?

Question

Hi,We were thinking about doing a re finance on our Four Winds Class C.  Any experiences good or bad anyone care to share?  Any recommendations on re finance companies?  Right now we have Santander as our RV lender - GE  money bank used to be the lender but I guess they sold out to Santander a year or so ago...so Santander took over.We have a 2003 Four Winds - it looks like some places will cut the interest by about 3 percent...I was also curious - is it common practice to send the original Title of the RV to the company doing the re finance?

mich_f · Answer

Here's a link to Costco/Essex financing/refinancing

nadsab · Answer

Thanks.

I checked with Good Sam/Essex a while back - apparently they wanted us to send them the title of the RV in order to do the refi. Is this common practice - or recommended? If doing a refi? It seems strange they would want the title - I thought refi companies got a lien release from the old finance company and then got a new title...

path1 · Answer

nadsab wrote:Hi,...I was also curious - is it common practice to send the original Title of the RV to the company doing the re finance?Be careful and read fine print...

triple602 · Answer

Bank will change title to reflect that they are lien holder.

rmasonschneider · Answer

3 percent or 10, you'd need to check how long you've had the loan to see if you're actually saving by a refi.  When you refi, the new lender you apply with with contact your lender (santander), request payoff figure, vehicle info, copy of title etc to verify that they (santander) actually holds the lien.  After that, they will forward payment to (santander) to pay them off and you will continue your payments to your new lender.

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Refinancing a Class C - any helpful advice?

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