Forum Discussion

janegowest's avatar
janegowest
Explorer
Nov 08, 2014

Essex loan issues?

Hi. I was looking around for financing, and Essex seemed to have the best rates and terms. However, I saw some bad reviews on Essex. Has anyone financed through them? Would love to get some feedback about them...especially if you have had experience with them.

If anyone knows of a better loan company, would like info on that as well.

I cannot use a credit union, because we are in a county that none of the nearest CUs service.

Thanks in advance for your help!
  • lanerd's avatar
    lanerd
    Explorer II
    Nov 08, 2014
    We had Essex (through Costco) and had "0" problems with them.

    Ron
  • DownTheAvenue's avatar
    DownTheAvenue
    Explorer
    Nov 08, 2014
    Understand that they do charge a sizable "closing fee" that will offset their low advertised interest rate. Plan on $500 to $600 in closing fees.
  • janegowest's avatar
    janegowest
    Explorer
    Nov 08, 2014
    Are there others that do not charge a closing fee? What do dealers do?
  • janegowest's avatar
    janegowest
    Explorer
    Nov 08, 2014
    dspencer wrote:
    You might try your local credit unions.


    There are none in our area that serve our county.
  • GoPackGo's avatar
    GoPackGo
    Explorer
    Nov 08, 2014
    There are other credit unions you can use that are not local.

    Look up Alliant Credit Union out of Chicago (one of the largest in the country). They are very RV friendly (see their ad in all the Escapees magazines).

    I do all my banking with them, even as a full timer.

    Also, USBank usually has good RV rates.

    Tim
  • NoVa_RT's avatar
    NoVa_RT
    Explorer
    Nov 08, 2014
    Check what the dealer offers. If you have a good credit rating, let them know and tell them you have to get a good rate to go with them, and compare it to what is advertised on-line. Check with your bank(s), too. Unfortunately, when I was buying it seemed like some lenders were most interested in longer-term, underwater, higher-rate loans. It took a bit of work to get the best rate, but it's out there.
  • dbates's avatar
    dbates
    Explorer
    Nov 08, 2014
    Have you checked with your local banks?
    Some do & some don't finance motorhomes.
    Some have good rates and some don't.

    Dave

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