First Time Buyer...Updated 03/06/2006
This post is intended to be helpful to the first time buyer of a motor home. For those of you who don't fall into that category or believe this post is incomplete or off the mark, do us all a favor, a...
Forum Discussion
Palm Springs Paul wrote:
What have people been paying for RV interest rates lately? I was quoted 10% at Wells Fargo for a 15 year loan. Anyone have any suggestions for other resources to check out?
There is a website called
www.rvtraderonline.com and they have a quote for financing link included here http://www.rvtraderonline.com/research/resources/finance/
It is a starting point. Make sure you read the fine print in the financing contracts, like hidden process fees, monthly processing fees, and tricks including early payoff fees.
Another suggestion is that you should get a "CASH QUOTE" from the RV dealer that you are purchasing the unit from. Then compare your best financing deals.
Add on and warranty products that they want to sell you are generally worthless. These are cash cows for the dealers. For example most warranties on trailer tires are from the date of tire production manufacturing and NOT the date you buy the coach. There is a Production Date Stamp on the tire. That is the date the insurance uses; I found the Tire Insurance in which I was a victim, to be absolutely worthless.
If you want some type of warranty insurance, look at Good Sam's Club. Personally, I do not recommend any type of warranty insurance because I budget for repairs; I find it cheaper in the long run.
Good Luck and Happy Camping.
