best place to apply for loan for rv

Credit Union is the best option. You may find supposedly lower rates but check the actual payment and length of loan. The "lower rate" quoted are often note the actual APR you will end up paying.

I recommend PFCU
Just about anyone can join.

Unless it is a good used one. Even if you have the cash to invest you better do well to beat the difference in depreciation. To each his own as to your situation. We never borrow. Cash is king,and the paid off mortgage has taken the place of the BMW as the status symbol of choice. You assume that the bull market will continue. May not happen. WE So love the freedom of no payments on the house, the vehicles, and the 5r.

K Charles wrote:
Doesn't anyone use cash any more?

I don't know what circles you run in, but no one I know could or would pay cash for an RV. With low interest rates it's actually smarter to finance. Let your money work for you. I can invest my cash into something with a larger return and finance an RV. The difference is profit. Paying cash on RV is technically an immediate loss due to depreciation. Use your cash for other things and let the bank outlay for the RV. While it's true you pay more in the long run, you also hold your cash and let it work for you too. Done correctly there is a net benefit. I would never, ever pash cash for a depreciating asset. You might as well set fire to 20% of it.

bradnailer wrote:
A credit union is normally a good option.

This is usually the best and easiest way to get financed. Credit unions can be more flexible than big banks. If you do not have an account, I would go ahead and open one now so you can form a relationship with them.

2012Coleman wrote:
Don't fall for dealer financing options that have a low monthly payment and 12 + year terms - the interest will eat you alive. Make sure there is no prepayment penalties. I used Bank Of America and got a rate below what the dealer offered.

That's the key isn't it, making larger payments on the principal? I've never carried any loan, except my mortgage to its full term.

Doesn't anyone use cash any more?

Credit Union!!! And stay far away from "loan companies"!!! Banks are a much better bet than loan companies.

I did a home equity through my credit union at .99% the first year and then 2.97% after the first year. The home equity allows me to deduct the interest on my income taxes.

My 1st choice is my Credit Union to make sure I understand their rate and terms and then see if the dealer can do better. I only used dealer 1 time. Randu