I am new member to forum but have been lurking for a few years. We are thinking about purchasing a travel trailer in Jan or Feb of next year. I am trying to get financing lined up prior to looking. I have just done a preliminary search and RV loans seem to be limited. If available, the rates are in the 7 to 8% range.When I purchase a car, I do extensive research and learn dealer costs, rebates, dealer holdback etc.. It seems this type of info is very scarce or non existent for RV's.I have checked local credit unions and my Bank (Bank of America) does not offer RV Loans.Any suggestion or experiences from those who recently purchased.I would love to talk with anyone who has recently gone through with a purchase and love to find out any hints to negotiating price and any other info from the process.BTW, I live in South Florida, so would love to hear from anyone down this way with a recent buying experience.Thanks,Mike

Welcome to the Forum...How about Costco...RV Financing HERE

Credit unions typically offer RV loans and the rates tend to follow auto loan rates. If you are only seeing 7-8% rates available on RV loans then you are not looking very hard. Again, go to the credit union and If yours doesn't offer then find another credit union that does. Also, dealers are a great source of financing. You might be able to negotiate the interest rate as well. You're never going to get as much information about the cost of a trailer as you would like. Typically a fair deal is categorized as paying around 75% or less of the MSRR. Beware the MSRP can "change" drastically from dealer to dealer with options and different destination fees. Best of luck to you.

We saw MH out of state (bought in NV & we live in WY) and made offer not thinking about loan but offer was based on acceptable financing. Dealer got us 4% loan through Bank of the West. We took it. When we got back to WY we checked our bank, credit union & also local Bank of the West. They could not come close to the interest rate that the dealer got for us. Don't discount a loan a dealer may be able to get. Especially large dealers. Just be sure how you word offer with acceptable financing. Bank of the West makes a lot of RV loans. We had a previous loan on an RV with them and also a boat loan years ago.

It also depends on ones credit. And time of the year and companies will vary. Look for a loan at the beginning of camping season or in the middle of it, they may be higher than you can get them at the end of season.

WyoTraveler wrote:We saw MH out of state (bought in NV & we live in WY) and made offer not thinking about loan but offer was based on acceptable financing. Dealer got us 4% loan through Bank of the West. We took it. When we got back to WY we checked our bank, credit union & also local Bank of the West. They could not come close to the interest rate that the dealer got for us. Don't discount a loan a dealer may be able to get. Especially large dealers. Just be sure how you word offer with acceptable financing. Bank of the West makes a lot of RV loans. We had a previous loan on an RV with them and also a boat loan years ago.That low interest rate is somewhat misleading as they also charge a a very high "closing cost" that if you put that amount into the interest charge can boost that rate several points depending on the length of the loan.

New Member-Financing | Good Sam Community

38 Replies

mrkoje
Explorer
Aug 13, 2014
Point is know what you can get from your own source of lending and then compare with the dealership - if you plan on buying from a dealership. Shoot if you find a great deal on Craigslist or the like you might be better off.
1oldtruck
Explorer
Aug 13, 2014
ALLY usually has the best rates in Florida unless there is a special offer from the credit union.
Heap64
Explorer
Aug 13, 2014
Keep looking for a good credit union.

1.99% for 84 months at my credit union for our travel trailer new.
WyoTraveler
Explorer
Aug 13, 2014
Might try Penfed
wbwood
Explorer
Aug 13, 2014
Remember that in Florida, Jan...Feb is prime camping season.... prices will be higher. Of course all year long is good camping weather there...lol
pitch
Explorer II
Aug 12, 2014
I do not think that you are going to see a good rate on a used camper. These things are a******shoot when new.
I will agree that a dealer can probably get you the best rate.
Community Alumni
Aug 12, 2014
You might find that some dealers have secured better rates than you are able to get from a financial institution yourself. Go rv shopping and see what they have to offer.
mjc1123
Explorer
Aug 12, 2014
FYI,

Bank of West does not list Florida as a state loans are granted.
dgodinez
Explorer
Aug 12, 2014
I just financed through Costco at 4.15. They use Essex and the process was smooth. If not a member of Costco I noticed KOA also goes through Essex but the low rate was 4.25. Each has own perks.

Costco we got a 100.00 gift card and only 55 dollars closing cost
KOA gives you 600.00 in free camping and no closing costs.

After further review I found out Essex is actually a part of Great Western Bank.
mjc1123
Explorer
Aug 12, 2014
Just realized Costco rate is for refinance. Their posted rates are 7.79 % and they finance through Essex.

MJC

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