Camping World Financing

rk911 wrote:
with the reputation that CW has in terms of their sales gimmicks, ality of their rolling stock and post-sales service I'd be very, very hard pressed to buy an RV from them. lots of dealers, lots of RVs for sale. look elsewhere.

as for financing...you're going to be much happier with a cash buy rather than payments hanging over your head. is it harder...well, it certainly takes a bit longer to save up the cash but it's worth it. we've done it both ways and find that overall we're better off and financially ahead by paying cash.

if the OP must finance then, a) shop around; and, b) put enough down so that you will never be upside down on the loan for the entire time you expect to own the RV.

Not saying paying cash is wrong as I agree totally. But if everyone was saving for an RV the RV industry would be dead. Along with the housing sector and the auto sector. Now the housing rental business would be booming. Credit is an important factor of our economy. Too much is wrong but sometimes a little isn't so bad. JMHO.

Every RV dealer has some local banks that they have a relationship with, give them a try, or your own bank.
Interest rates are still low, so you should not have an overt problem unless you have past issues which cause problems.

rk911 wrote:

as for financing...you're going to be much happier with a cash buy rather than payments hanging over your head. is it harder...well, it certainly takes a bit longer to save up the cash but it's worth it. we've done it both ways and find that overall we're better off and financially ahead by paying cash.

I had the exact opposite experience. Last year I made 13.3% interest on my money by keeping it invested, while paying 4.4% interest on the RV loan. A 9% payday for me.

with the reputation that CW has in terms of their sales gimmicks, ality of their rolling stock and post-sales service I'd be very, very hard pressed to buy an RV from them. lots of dealers, lots of RVs for sale. look elsewhere.

as for financing...you're going to be much happier with a cash buy rather than payments hanging over your head. is it harder...well, it certainly takes a bit longer to save up the cash but it's worth it. we've done it both ways and find that overall we're better off and financially ahead by paying cash.

if the OP must finance then, a) shop around; and, b) put enough down so that you will never be upside down on the loan for the entire time you expect to own the RV.

Make sure there is no prepayment penalty and when first payment comes due, pay the entire balance.

OP, do some homework and check with you financial institution if you have one, but in any case get some information about what else is out there in regards to rates and terms. Then sit down with the finance guy/gal and see what he has to offer versus what you already know. They may be able to match of beat it. When I financed mine out of choice (couldn’t see taking $100,000 out of investments earning twice the going finance rate) they were able to place it with BAC, no fuss.It actually was a pleasant transaction from the first sales meeting to the final paperwork. Service after the sale was a bit ragged though.

I don't know of any lending institution that provides financing for a 10 year old camper. If Camping World is doing this, I say "koodos!" to them! It's about time! Lots of used RV will be in the market in the next 10 years, when baby boomers start selling their RV's (because of ageing out), and it will only increase more and more. As those used units are hitting dealer lots, younger folks raised with the "instant gratification" mentality absolutely do not have the whitts about them to save or wait for anything. They want it right now! So, financing is a win-win for everyone. RV dealerships can move the used units, younger folks can finance them, older folks can get rid of them. Everyone happy.

Wait and see, other financial institutions will eventually figure out there is a gigantic coming market for this soon, and they'll want to jump on the band wagon too.

Koods to Camping World! I approve!

just another trick to make a sale...

pay cash.. or get your own finance....
local bank, credit union... much better rates.

I bought used and with Cash.. so some do listen.

Like the old saying goes... Ain't no romance with the finance.

Try to pay cash at CW after they have quoted you a deal with THEIR financing. They will give you a higher sale price on the RV for cash (or off store financing), as they lose their kickback from the banks. Known fact, it happened to me at the Oklahoma City CW last year.