Reply
 
Thread Tools Display Modes
Old 10-07-2013, 09:11 PM   #1
Junior Member
 
Join Date: Oct 2013
Posts: 7
Financing

Looking to purchase our first TT (Shamrock 183). Will be financing but have been disappointed with our credit union. Loan terms are short and am looking to go a bit longer than 60 months. Always have arranged financing for my auto loans prior to going to the dealership but this process seems different. Is the dealership a good place for financing. Usually like to avoid the finance office like the plague but maybe that is an option?
__________________

__________________
Campinginva is offline   Reply With Quote
Old 10-07-2013, 09:19 PM   #2
the-the-the- The GRINCH!
 
DaGrinch's Avatar
 
Join Date: Sep 2013
Location: Western MD
Posts: 1,245
When I asked the dealer where we purchased our Flagstaff a couple of weeks ago, he stated they normally ran between 5%-6%, which was what I was more concerned with. Our credit union gave us a flat 5% for 60 months, which was acceptable to us.
I know a couple of the "wholesale" RV places will go out to 12 years, depending on what you buy and how much it costs. I think it pretty much depends on the dealer, but expect to pay more interest for longer terms.

Larry
__________________

__________________

"Sunny" the 2017 Sunseeker 3010DS
2006 Jeep Liberty Toad
.... and lovin' life...
DaGrinch is offline   Reply With Quote
Old 10-07-2013, 09:22 PM   #3
Fulltime family RVer
 
ependydad's Avatar
 
Join Date: Nov 2011
Posts: 14,735
I arranged financing through Bank of America completely separate from my dealer. In fact, the dealer wanted to handle the financing but told me that they couldn't get anywhere near BoA's rates.

I had the same experience with my credit union.
__________________
2012 Ram 3500 DRW/crew cab/long bed/4x4/4.10 gears pulling an early 2013 Sabre 36QBOK
Checkout my site for RVing tips, tricks, and info | My family and I have fulltimed since June 2015
ependydad is online now   Reply With Quote
Old 10-07-2013, 09:22 PM   #4
Fulltime family RVer
 
ependydad's Avatar
 
Join Date: Nov 2011
Posts: 14,735
Quote:
Originally Posted by DaGrinch View Post
...but expect to pay more interest for longer terms.

Larry
Believe it or not, that is *not* what I found.
__________________
2012 Ram 3500 DRW/crew cab/long bed/4x4/4.10 gears pulling an early 2013 Sabre 36QBOK
Checkout my site for RVing tips, tricks, and info | My family and I have fulltimed since June 2015
ependydad is online now   Reply With Quote
Old 10-07-2013, 09:35 PM   #5
Junior Member
 
Join Date: Oct 2013
Posts: 7
Do you have to belong to BofA?
__________________
Campinginva is offline   Reply With Quote
Old 10-07-2013, 09:43 PM   #6
Site Team - Lou
 
Herk7769's Avatar
 
Join Date: Oct 2009
Location: South Eastern PA
Posts: 21,168
USAA gave us a 10 year RV loan at 6.39%

The low payment gave us flexibility to pay the normal payment when traveling and principle only pay downs when we were not.
Loan will be retired this year (4 years).
__________________

Lou and Laura with Bella - German Short Hair Pointer
2008 GMC Sierra 2500HD Crewcab SB Allison Duramax
2010 Flagstaff 8526RLWS - Superglide 3300
HAM CALLSIGN - KC3FFW
Herk7769 is offline   Reply With Quote
Old 10-07-2013, 09:58 PM   #7
Senior Member
 
jtstromsburg's Avatar
 
Join Date: Jul 2011
Location: Stromsburg, Nebraska
Posts: 1,654
Our dealer set up 4.9 for 15 years! Hopefully paying it off in 6-7 though. Great price, great terns. Just have to finance for at least 12, then no early payoff penalty.
__________________
Joel and Teresa
2016 Sabre 34TBOK
2006 GMC 3500 CC LB DRW 4X4
jtstromsburg is offline   Reply With Quote
Old 10-07-2013, 10:05 PM   #8
Senior Member
 
Join Date: Jul 2012
Posts: 342
Financing 101 say, I =RxT, where I is the am't of interest paid, R is the rate or % being charged, and T is time, or length of loan in months. Your enemy is always TIME. Think of a mortgage. Ever look at the total interest amount paid on a 15 yr. term compared to a 30 yr term. There are excellent calculation programs on the web to play around with, to see what the total cost of money will be, take a look. If you are thinking "can I make the payment", good luck with that approach. Just sayin'
__________________
2012WhiteSolera is offline   Reply With Quote
Old 10-07-2013, 10:13 PM   #9
Senior Member
 
jtstromsburg's Avatar
 
Join Date: Jul 2011
Location: Stromsburg, Nebraska
Posts: 1,654
This is very true. Three only reason we went 15 was that was the best price and rate. We actually set up auto payments at just over double the regular. That way it'll actually be over in 6 or so. Agree about not financing so tight, but there us some argument, for some people, about the investment in family memories. We were very close to debt free before getting our first camper three years ago. We wish we would have borrowed the money and gotten the fiver years ago! Its been a great tool in making memories with our kids, and our nieces and nephews (lost their mom two years ago).
I never suggest to borrow to your limits for a toy, but a memory making "tool"
Quote:
Originally Posted by 2012WhiteSolera View Post
Financing 101 say, I =RxT, where I is the am't of interest paid, R is the rate or % being charged, and T is time, or length of loan in months. Your enemy is always TIME. Think of a mortgage. Ever look at the total interest amount paid on a 15 yr. term compared to a 30 yr term. There are excellent calculation programs on the web to play around with, to see what the total cost of money will be, take a look. If you are thinking "can I make the payment", good luck with that approach. Just sayin'
__________________
Joel and Teresa
2016 Sabre 34TBOK
2006 GMC 3500 CC LB DRW 4X4
jtstromsburg is offline   Reply With Quote
Old 10-07-2013, 10:31 PM   #10
Senior Member
 
Iwannacamp's Avatar
 
Join Date: Aug 2013
Posts: 4,358
I guess I am blessed. My local credit union was 2.49 on a used trailer. 5 years 18k I thought was reasonable.
__________________

__________________
2017 Puma 297RLSS
2005 Ram 2500 4X4 diesel
Our new 5er 10-26-16
Iwannacamp is online now   Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off



» Virginia Campgrounds

Reviews provided by




ForestRiverForums.com is not in any way associated with Forest River, Inc. or its associated RV manufacturing divisions.


Copyright 2002- Social Knowledge, LLC All Rights Reserved.

All times are GMT -5. The time now is 07:47 PM.