For those of you who have financed with essex (or other companies), did u pay a closing/processing fee? Just got approved for a loan today at 4.59/10 yrs (it's the American way :) for a 2013 torque 301 about $27k. it's in excellent condition at ballards camping center in hamburg ny. They want to charge me $495 for processing/closing fee. Wth, it's not a house. is this negotiable? Or any chance they would waive it? I have excellent credit.

cchristanis wrote:For those of you who have financed with essex (or other companies), did u pay a closing/processing fee? Just got approved for a loan today at 4.59/10 yrs (it's the American way :) for a 2013 torque 301 about $27k. it's in excellent condition at ballards camping center in hamburg ny. They want to charge me $495 for processing/closing fee. Wth, it's not a house. is this negotiable? Or any chance they would waive it? I have excellent credit.I just financed mine through a credit union last year and they had zero closing fees. Now with that said i'm in the car business and on a few occasions we run into a couple of our second chance lenders that will charge a fee however that is for subprime credit and it doesn't sound like that's the case for you with that kind of interest rate.

I think the $495 is the most they say they will charge. It varies with each loan. That don't make it right though...

Call a local bank or credit union first. 99.9% will not charge any fees and you should be able to get a little lower interest rate than that too.

I have never paid a loan fee. It sounds like they gave you a good rate for a used trailer.

Got our loan through USAA Savings Bank, no fees. Never heard of that for a consumer loan for other than a house or refi on one.

essexcredit charges $459 loan fee | Good Sam Community

37 Replies

2oldman
Explorer II
May 13, 2015
Give the loan officer $50 to 'waive' it.
Tom_N
Explorer
May 13, 2015
Everything is negotiable.

Object and stay on them.

TIP: Go in about 10 minutes before they close. They are really vulnerable then.

-Tom
the_vfox
Explorer
May 13, 2015
Got our loan through USAA Savings Bank, no fees. Never heard of that for a consumer loan for other than a house or refi on one.
colliehauler
Explorer III
May 13, 2015
I have never paid a loan fee. It sounds like they gave you a good rate for a used trailer.
Toddupton
Explorer
May 13, 2015
Call a local bank or credit union first. 99.9% will not charge any fees and you should be able to get a little lower interest rate than that too.
sch911
Explorer
May 13, 2015
I think the $495 is the most they say they will charge. It varies with each loan. That don't make it right though...
dspencer
Explorer
May 13, 2015
cchristanis wrote:
For those of you who have financed with essex (or other companies), did u pay a closing/processing fee? Just got approved for a loan today at 4.59/10 yrs (it's the American way :) for a 2013 torque 301 about $27k. it's in excellent condition at ballards camping center in hamburg ny. They want to charge me $495 for processing/closing fee. Wth, it's not a house. is this negotiable? Or any chance they would waive it? I have excellent credit.

I just financed mine through a credit union last year and they had zero closing fees. Now with that said i'm in the car business and on a few occasions we run into a couple of our second chance lenders that will charge a fee however that is for subprime credit and it doesn't sound like that's the case for you with that kind of interest rate.

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essexcredit charges $459 loan fee

37 Replies

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