Cash Vs. Finance

DallasSteve wrote:

T18skyguy wrote:
I would first talk to the bank. We have some bankers on this site might give you good advice. If the bank loans you the money, I would expect a hefty pre-payment penalty. They don't like to go to all that work for nothing. I would just go to a well established dealer, make a deal on the rig. Tell them that's the out the door price so they on't stack fee's on top.Buy it off the lot is what I mean. Then come back with a cashiers check and you'll have your RV. If it's a long standing reputable dealer, there shouldn't be a problem.

"Shouldn't"

I agree. I shouldn't have a problem. In the unlikely event that I give them $30,000, $40,000, or more, and oops, they file bankruptcy or decide to take early retirement with my funds, who here will reimburse me? It suddenly got quiet.

Maybe what I need to do is investigate some kind of escrow agent (a bank or lawyer) and I pay that fee to have my peace of mind.

you're overthinking this. we've paid cash for cars since 1990 and we paid cash for our current MH.

apart from a down payment (if you're ordering from the factory) you're not handing them one red cent until they prep the vehicle, you have inspected it, and provide you with a bill of sale, completed sales agreement, registration, etc. and a set of keys. once all that is done, they have your money, you have an RV with paperwork with a matching VIN or serial number you're good to go.

there are some things you can do pre-sale to help ensure you're dealing with a reputable dealer:

- check with the local Better Business Bureau or online at https://www.bbb.org/.

- check the dealer for complaints at your state's attorney general's office.

- check for a business license. how long have they been in business? using the name? at that location?

- see if your insurance agent can provide insight. same with your bank.

- go online and search for reviews. name the dealer here and on irv2.com. might be members who know the dealer.

- i'd avoid tiny dealers with a trailer for an office operating on a small asphalt or gravel lot with a half-dozen RVs.

- trust your gut and the hairs on the back of your neck.

good luck.