rv loans
Has anyone financed thru good sam club. i have been a member of a credit union for over 50 years and use them for everything but on rv loans they have 4.99 % interest on rv loans. I can find lower rates elsewhere.
Forum Discussion
14 Replies
- Just signed the papers on our new DP last week. 3.99% thru a credit union.
- Last year I applied for a refinance with Essex Credit thru Costco. Essex is same that Good Sam uses. I was very unhappy with how they handled the loan and with their requirement to give them Powers of Attorney over our RV title. I was dissatisfied with them enough that I chose not to take the loan. A few months ago I looked into Good Sam and the salesman was the same guy who handled it before so I did not go any further. Will stick with what I've got.
- Friends of ours just signed a deal yesterday on a new DP with Bank of America for 20 yrs at 3.99%.
- 4.99% is GREAT. We just refinanced a couple of months ago @4.99% on our current loan with our CU. Original was at 8.45%.
Inquired on new RV on Tues with same loan officer. But she was out of the office. Next morning before 10am, I had an email we were approved. She then called and said we could go 3.99% for 10 yrs or 4.99% for 15. So we decided we're going new for 10 to save over $30k in interest. gmcsmoke wrote:
Not all credit unions are equal! They have different rules and requirements and rates. And I had BOA years ago and thought they were a joke too, such a joke that I never went back!
I checked a credit union and it was a joke; I went with BOA and couldn't be happier.- I checked a credit union and it was a joke; I went with BOA and couldn't be happier.
- I love my Credit Union, but when it comes to RV loans their rate is 9.9% with a max term of 84 months....I don't think they want anything to do with RV financing. Dealership handled my financing through M&T Bank with decent rate and term.
- Seems to me that others have had problems getting loans for an RV unless it is tacked onto their home loan. RV's for collateral are not popular in the financial world since their value depreciates instead of appreciates (like a home used to).
- I read recently that if you want to write off loan interest on your federal taxes (second home), the RV must be listed as collateral for the loan. Since we may be taking out a loan for a new trailer, it may impact where I get a loan.
- 4.99% sounds pretty good to me. Our credit union charges 7.25 and will only finance for 60 months, so your payments would be really high.
