Financing New Travel Trailer - All I Should Know?

APT wrote:
RVs depreciate around the same rate as automobiles. ....

I don't think this is true. I was told that RVs depreciate some amount the first three years and then drop in value slowly from there. I don't remember the percentages.

Antidotal point: We bought a 2004 Suburban for around $35 - $40k and 2004 Keystone Hornet for around $12k brand new. In 2018 we got about $1k for the Suburban and about $8k for the Hornet. The Suburban with 250,000+ miles needed about $5k worth of work, the Hornet needed about $1k worth of work.

shawnster79fl wrote:
Hello. New to the Site. First Forum Question.

I'm looking to purchase a new Coachmen/Forest River Viking Saga 14SR in Central Texas.

I'm finding them for about $16K

What should I expect my Total amount to be financed, including Taxes, Titles, Wholesale Warranty, Insurance, etc.?

https://www.ronhooverrvs.com/product/new-2023-viking-saga-14sr-1999867-29

And including these options:
RVIA SEAL
SAGA TOWABLES ESSENTIALS PACKAGE
TRAVEL EASY ROADSIDE ASSISTANCE

Are they necessary?

Thank You.

Shawn

Since you’re asking for financial advice, buying new is a poor decision especially if financing. And especially now that interest rates are back up. There’s 100s or 1000s of used campers in your size range.
The reason the dealer is offing that big “discount” says 2 things. 1. You could get it even cheaper. 2. They and every other dealer is loaded with RVs and prices are going down.
You can look up the tax rate, title license rate, insurance quote,etc. Have some motivation to learn this on your own. Warranty shouldn’t cost any money and extended warranty is a waste of money.
The cost for the other 2 items should also be zero.
Find a used one for cheaper. And generally credit unions are good no nonsense financing if you have to finance it.

RVs depreciate around the same rate as automobiles. I recommend financing for no longer than 5 years. If you cannot afford that, spend less $$$.

Interest rates right now are crazy! So hopefully you can find financing for around 4%.

NamMedevac 70 wrote:
If you are also looking for honest finance company then I have had good experience with Bank of the West on a late model 2003 TT I bought in 2003 in Texas from camping world. Also Mechanics Bank of California in last 3 years for purchase of a late model Ram 1500. Interest rates were/are reasonable as I had a high credit schore and no penalty for early payoff. Never any problems. They also do business in many states. You can also check with USAA of San Antionio if you are present or former military member. Cheers from the OK Corral.

+1 on Bank of the West. Very easy to work with, everything done on-line very good interest rates if your credit score is 800+.

They recently became a part of BMO Harris based in Chicago, a part of the larger BMO/Bank of Montreal. I don't think much will change operationally.

I have never heard of Travel Easy Roadside Assistance. May be good. But do your own checking for reviews. When we bought our 5er years ago it came with a "complimentary" roadside assistance. Don't remember the name. I tried using it once and it was less than useless. Even though I repeatedly told the phone rep exactly in detail where I was located (in a rest area a few miles west of Santa Rosa, NM) she could not figure out where that was and kept asking for an address of the rest area I was stopped in. I finally hung up and started calling around myself. If you want ERS I suggest getting a well known name.

spoon059 wrote:

Those are just stickers put on by the manufacturer. RVIA simply means that it meets the standards of the RV Industry Association. They really don't mean anything.

Exactly.

A sticker provided by a trade group which is supported financially by the Industry / Manufacturer they are certifying. No conflict of interest even possible LOL.

If you are also looking for honest finance company then I have had good experience with Bank of the West on a late model 2003 TT I bought in 2003 in Texas from camping world. Also Mechanics Bank of California in last 3 years for purchase of a late model Ram 1500. Interest rates were/are reasonable as I had a high credit schore and no penalty for early payoff. Never any problems. They also do business in many states. You can also check with USAA of San Antionio if you are present or former military member. Cheers from the OK Corral.

find a used one,better price ,most the problems all ready fixed, and with new there will be problems.and it won,t sit at the dealers lot waiting on a three dollar parts for two months.

Your taxes will be whatever percent sales tax your state imposes. Maryland is 6%, so $960 in taxes.
Title fee is whatever your state imposes. Maryland is $100 for the title, then about $180 for 2 years registration.
Warranty prices are all over the map, but I would suggest you not buy one, put that money aside to pay out of pocket if you have repairs.
Insurance will be whatever insurance costs in your state. Maryland does not require separate trailer insurance, when you are going down the road your tow vehicle insurance covers it. We pay about $90 year for insurance for when its sitting at a campground, in case something happens to it.

Those are just stickers put on by the manufacturer. RVIA simply means that it meets the standards of the RV Industry Association. The other 2 are simply packages from the manufacturer. They really don't mean anything.