Purchase advice - Used

[vjstangelo]

I'll be brief. We were on the verge of buying new but stumbled onto a local 2007 Bounder. We gave it the once over and were satisfied that deficiencies were cosmetic.

Knowing the difficulty of getting private party sale loans, before making an offer, I contacted the bank to get pre approved for a full purchase price loan. The loan was approved today. Now I will give my best and final offer to the owner knowing what I can finance.

Q1: the bank will require the coach pass an inspection. I was planning on getting my own inspection also, but is this necessary if the bank orders an inspection?

Q2: I wanted to finance some add'l money (say $5000) to pay for some repairs, new tires, taxes. Since the purchase price will be $15,000 or so less than NADA low retail, will the bank go for this?

If you've been down this path, please lend some advice. Thanks.

[vjstangelo]

The bank I'm dealing with is Bank of the West through GS Club.

[JumboJet]

My bank would determine a value based on comparable units, look at NADA and Blue Book guides and then ask for a 20% down payment. KOA has been trying to get me to refinance my RV with them. Trouble is, my RVs are all paid for. You might look into a KOA or other finance company that specializes in RV financing.