Cash Vs. Finance
I'm planning to buy a new RV in March. Yes, I know they depreciate like crazy, but I've window shopped the used market and I don't see any that's what I want at a reasonable price and I don't want to...
Forum Discussion
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.
Steve, one thing to think about, is these established dealers have either taken out loans for their inventory, or have purchased them outright. Either way, they need your money to stay in business. Visit established dealerships only, and take possession as soon as you hand over the money. The only real trouble I've seen in this area is consignment sales, but that's another story. Don
