Purchasing motorhome on-line

[allagante]

No prepay penalty after 12 months and I got $5K off. Was going to pay cash or do own financing but could not beat their deal.
Allagante

[sdgscott]

Originally Posted by JimOneil43

Does the RVW financing require a minimum number of months before you can pay it off? We planned to pay cash for our MH when we buy it, but if we can save 5K by financing and then pay it off in a year, that might be the way to go.
Jim

Hi,

As Allagante said, no prepay after a year. If you are going to pay cash, this is a no brainer.

I'm not going to do this because I want to keep my cash invested in the market. In finding my own financing, I am going through Costco. You can currently get a 10 yr loan (75,000 up) for 3.65%. 20 yrs is 4.17%.

Scott

[Creativepart]

Originally Posted by sdgscott

I am going through Costco. You can currently get a 10 yr loan (75,000 up) for 3.65%. 20 yrs is 4.17%.

We went through USAA Bank. 15 years at 4.25%. Quick and easy online transaction. They overnighted a check to us in the RV dealer's name. But we've all but got it paid off already. We just used the loan to simplify the purchase basically. We didn't want to wait a year. Plus our dealer had the unit we wanted in stock ready to go. RVW wanted between 1 to 3 months to get one just like it.

And, if have to say my cautious side wondered how my RV loan - even if I made payments for a year - could possibly be worth $4K to $5k to anyone?? $1,200? Sure I could see that. But $4,000??? Wait, if it sounds too good to be true....

[ORvideoguy]

I purchased from RVW and had a great experience. The loan department was helpful and got me the best rate. I told them we were considering paying cash so they suggested getting the loan to get the extra discount but to pay off as much of the loan we wanted as soon as we wanted and to leave a low balance until the end of the year to keep the interest payments to a minimum.

The only thing I didn't like was the requirement of adding a service plan to get a better interest rate. (Either rate they offered was still better than any other bank or credit union I checked with)

The only reason I bought the over-priced service plan was because I wanted the lower rate and because I was able to cancel the plan within the first 60 days with a full refund minus a relatively small service fee. It was the only negative I experienced with the purchase.

Otherwise we got exactly what we wanted and they delivered it to is here in Oregon and I saved about $13,000 from the best price at the local dealer.

[Up North]

RVW doesn't really deal with trades but they do consignments. That pretty much left me out of it. I hate selling to private parties honestly. People always want something for nothing. I always price things to sell and at a fair price but that's never acceptable to most people.

They did have a good price on the Forester I want though. I wish my local Forester dealer was more customer friendly.

[allagante]

RVW tried to sell me the service plan but I said I did not want it. For my deal it was not a requirement to buy the service plan to get the $5K discount. Maybe most take their service
which makes up for the discount. About being too good to be true it worked for me and I had another RV Dealer in Illinois quote for the exact same unit $75K that had no extra discount but their interest rate was higher. Bottom line nobody I contacted could beat the $74K with 20 year financing with 4% interest. Just because before retiring I worked for HP negotiating contracts with suppliers overseas might have helped. You never know what you can get unless you ask even if they say no the first time.
Allagante

[tinasdude]

So I am to gather they give you another 5,000 off there original quote if you use there financing? (RVW). So 74 something for a Forester 2401W with some added options.

[sdgscott]

tinasdude,

Yes. As I understand it, they are rebating to you the commission they receive from the lender for making the loan. Other dealers that provide financing keep the commission.

On my 2861DS, I can get $4000 back if I use their financing.

You need to keep the loan for at least a year.

Scott

[Up North]

Originally Posted by sdgscott

tinasdude,

Yes. As I understand it, they are rebating to you the commission they receive from the lender for making the loan. Other dealers that provide financing keep the commission.

On my 2861DS, I can get $4000 back if I use their financing.

You need to keep the loan for at least a year.

Scott

Looks like we are looking at the same model. I got a quote for $78,799 for a pretty well loaded 2861DS take $4000 off that if I use their financing which is $10 grand under the closest dealer to me. Pretty smoking hot deal. Plus they listed the service centers local to me I can go to and said they would even call my independent rv repair buddy and set him up to do any warranty work.

I'd really like to work with someone who will take my rig on trade. RWS won't do this. I don't want to deal with the hassle of trying to sell it myself.
Around this time of year up here people want to give you about 25% of your asking price.

[tinasdude]

I am looking at the 2401W. added diesel gennie and some other stuff.After reading another members comment about the side cameras,I skipped those. skipped FBP. No newbie RV kit. Not having to rent a place to store it will also mount into some serious savings overtime. Buy a metal building and put it on my property somewhere. Get a toad for kayaks and extra storage. Never envisioned I would get something this size. If the 2401r had the U sofa , think I would have been there

[tinasdude]

after reading about the additional cabinet space, if you get the 42 inch tv entertainment center, I added that too. TV on the right side is a better viewing angle as well

[ORvideoguy]

The service plan was a requirement to get a better interest rate. I didn't have to buy it but I wanted the lower interest rate.

I also received the discount for doing the financing through them. At the time it was $9000 but I think their initial price was higher to begin with back then.

[allagante]

My quote was $79K - $5K for financing with them (US Bank) for a total cost out the door of $74K for a 3051S with every option except outside TV and arctic tanks which I do not need plus two options not on the list like a real oven plus the convection microwave and a full sink cover. They also were willing to set up my local rv guy but he is always so busy he did not want to take on more work by being a service center for them.
Allagante

[JimOneil43]

Originally Posted by ORvideoguy

The service plan was a requirement to get a better interest rate. I didn't have to buy it but I wanted the lower interest rate.

I also received the discount for doing the financing through them. At the time it was $9000 but I think their initial price was higher to begin with back then.

What was the cost of the service plan and what does it cover?
Thanks

[ORvideoguy]

The service was Xtraride and the price I was given was $5498. I'm not sure all that it covered but it seemed pretty comprehensive. If you ask about it they'll give you all the details and I got them to send me a 56 page booklet with all the details.

[Creativepart]

Originally Posted by ORvideoguy

The service was Xtraride and the price I was given was $5498. I'm not sure all that it covered but it seemed pretty comprehensive. If you ask about it they'll give you all the details and I got them to send me a 56 page booklet with all the details.

So, they give you a $4,000 discount and they kind of strong arm you into giving it all back to them in a Service Contract just to get the lowest interest rate?

At least it's optional and not required to get the discount as the loan is.

[tinasdude]

Think an earlier poster said you can cancel the service contract and get a full refund minus a small service fee

[ORvideoguy]

I still got my full discount for financing I just wanted the better interest rate too.

The way the math worked was that the better interest rate offset the entire cost of the service plan. That's how they sell it and it did work out exactly to cover the entire cost of the service plan. Coincidence? I think not.

They told me they buy down the interest rate when the service plan is purchased. I'm sure selling the service plan makes them some money but for me it meant a lower interest rate and if I kept the plan I wouldn't have seen the savings from the lower interest rate but I also wouldn't have paid any extra.

My price/monthly payments didn't go up by taking the service plan. However, with the dangling carrot of a better interest rate and feeling like the service plan was overpriced I cancelled it and felt good about my additional savings through the better interest rate.

And as I mentioned earlier both interest rates they offered beat anybody that I checked with including my local credit union. It just made sense to take the service plan since it didn't cost me anything extra but because I had the option to cancel it I decided that's what made the most sense for me. Others may decide to keep the service plan if they choose to purchase it in the first place.

[tinasdude]

What interest rate?