Getting pre-approved for coach financing
Two dealers are telling me there is no process for getting pre-approved for a loan. Seems like it would make some sense so as not to waste my time or a salesman's time looking at coaches I can't buy....
Forum Discussion
One reason for banks not to pre-approve is that the collateral is undetermined. They might loan you $500,000 or more on a new Prevost, but no where near that much on a new popup trailer. There are many moving parts on an RV loan. Term, monthly payment, age of unit, type of RV, down payment etc. Until you nail all of those down, you really don't have a loan to pre-approve.
