financing older motor homes

"You really have no intention of financing a 12 year old vehicle right?"

Not really, no, but it is nice to know that I CAN if I want to, and that the payments would be in a comfortable range, and the interest rate would be quite low.
Now, please explain exactly why YOU would care if I do finance it? It really isn't anybody's business but MINE, right?

Of course, the point is, if YOUR bank or credit union will not give the customer service you want, shop around. There just might be another one in your town that will be glad to give you such service.

mowermech wrote:
...Our CU was glad to handle the financing for us. I recently asked about financing a 2001 Dodge SLT 1500, and the answer was "sure, no problem!"....

Certainly this was just a test to see what their response would be?

You really have no intention of financing a 12 year old vehicle right?

Is there more than one credit union in your town that you are eligible to join?
If YOUR credit union won't work with you, shop around until you find one that will, then move your accounts to them.
We had no trouble financing a 1995 Class c with our CU, and no trouble trading it for our present coach. Our CU was glad to handle the financing for us. I recently asked about financing a 2001 Dodge SLT 1500, and the answer was "sure, no problem!"
Not all CUs are created equal. Shop around.
Good luck.

Have you checked with ALLY Financial?

You can also try US Bank

Did you check with Good Sam financing?

I appreciate all the info. We have tried Essex ,our credit union, and our bank. None will do a 2004 model or older. I am not giving up yet and will keep looking. If this mh sells I am already looking at a couple 2006 models which would present no problems. Thank you all again and maybe we will see you in some campgrounds soon.

We financed thru a credit union, also with no problems. No security other than the motorhome.

Check your Credit Union. If not a member, check one that you can join. Their loan criteria is different than a banks. How you want to finance, value of the unit, and what kind of down payment all add to that. We just financed ours (see the signature) earlier this year and our CU didn't have any issue with it.

Generally, to finance an older vehicle you need to:

1) Borrow against alternative security, i.e. it is not a loan on the vehicle. Loans in this class include mortgages on real property, against cash value of insurance, or from your 401(k). I've done two out of three, but not for anything like a RV.
2) Keep the load small enough that you can get it as a personal loan, again not a loan on the vehicle.
3) Buy through a "We Finance Anybody" dealer charging outrageous rates and expecting a high proportion of defaults.

But first I would talk to the loan officer at my credit union about my options through that source.