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Old 10-03-2011, 02:21 PM   #21
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There excuse is it takes two days for the bank to process the loan. I dont believe it.
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Old 10-03-2011, 02:31 PM   #22
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Itypd,

So, does signing the loan document mean that you also signed the paperwork to accept delivery for the unit?

It seems to me that these are two separate transactions with the loan being one transaction (though a bank) and the purchase from the dealer being the other.
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Old 10-03-2011, 02:38 PM   #23
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There excuse is it takes two days for the bank to process the loan. I dont believe it.
So they not only want you to sign the loan docs but they want the bank to wire the money before you take delivery. Nope, I wouldn't do it that way. I would be arranging financing on my own and show up with a cashiers check.

I picked up my TT at the dealer on a Saturday. I signed the paperwork in the finance office after I had done the PDI. Saturday afternoon when all the banks were closed.

They will tell you that this is their policy. You can respond that your policy is to not sign loan documents for an item that you have inspected.
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Old 10-03-2011, 02:54 PM   #24
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ive not financed via the dealer before (and i probably wouldn't) - if you want to have full control (which is what is usually desired) then you need to obtain the financing yourself so that you control the transaction, not the dealer....however...

if the dealer is the one sticking their neck out - i can see how it is important to them to be compensated for letting a vehicle they owe money on go to a new owner without guarantee they are paid for it. Put yourself in their shoes, would you sell someone a car without cash in hand? cash in hand is the way it is done. if that means the process has to start sooner so that the money arrives before the transaction occurs then from that side of the argument i can see their point.

I am sure in most cases, buyers sign paperwork on one day and pickup the camper on another - after prep and such is completed.
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Old 10-03-2011, 02:55 PM   #25
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There is nothing on the loan docs that state anything about delivery of the unit. it is a retail installmet contract and security agreement stating interest rate, term, amount, etc.
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Old 10-03-2011, 03:12 PM   #26
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There is nothing on the loan docs that state anything about delivery of the unit. it is a retail installmet contract and security agreement stating interest rate, term, amount, etc.
good for you for reading through it. This really doesn't sound suspicious to me. All you seem to be doing by signing this paperwork is committing to a loan through the bank they use. You would be going through the same process if you did this yourself through your own bank (e.g., your own bank would also require information, paperwork, and some time before they released cash to you). You also want to check the rules on pre-payment of the loan and upfront costs.

The worse case scenario is that RV Direct is out to screw you (I doubt that) or the unit is not at all what you ordered (I doubt that). But, if the unit is completely unacceptable, you simply refuse to take delivery and you cancel/pre-pay the loan.

Frankly, the more likely scenario is that the unit is what your ordered and that there are a few small items for them to correct after you have your walk-though. I personally would not feel uncomfortable with this scenario.
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Old 10-03-2011, 03:17 PM   #27
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By the way, I noticed in one of your previous posts that you thought you would be giving RV Direct the check before taking delivery of the unit. In the past, when I had taken a loan for a trailer, the bank wrote the check payable to me and the dealer. I didn't give them the check before delivery and they couldn't have cash it if I had without my endorsement.

Good luck, however you deal with it.
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Old 10-04-2011, 03:01 PM   #28
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After asking my sales person in albany several times (who said she would get back to me but never did) if my unit had been shipped from indiana to buffalo,i called buffalo rv myself and learned that my coach had arrived last friday. Spoke to the sales manager at RV Direct who had no knowledge of that and in fact told me that it is company policy to have the unit fully funded not only before scheduling delivery, but before having the coach shipped from indiana to buffalo. he went on to explain how they have scheduled deliveries in the past only to have the funding held up for one reason or another. that may be all well and good , however i explained to him that i had no information from his employees regarding the whereabouts of my rv or when it would be available for delivery, yet i was expected to sign the paperwork and fund the loan. in fact, all my requests for information were ignored with promises of "I'll look into it and get back to you" which , of course, never happened. he apologized for the lack of communication but it just seems that the attitude of the company is make the sale and sayonarra. In any case i sent in the paper work and should take delivery next week. Thanks all for your time and advice
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Old 10-04-2011, 04:11 PM   #29
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After asking my sales person in albany several times (who said she would get back to me but never did) if my unit had been shipped from indiana to buffalo,i called buffalo rv myself and learned that my coach had arrived last friday. Spoke to the sales manager at RV Direct who had no knowledge of that and in fact told me that it is company policy to have the unit fully funded not only before scheduling delivery, but before having the coach shipped from indiana to buffalo. he went on to explain how they have scheduled deliveries in the past only to have the funding held up for one reason or another. that may be all well and good , however i explained to him that i had no information from his employees regarding the whereabouts of my rv or when it would be available for delivery, yet i was expected to sign the paperwork and fund the loan. in fact, all my requests for information were ignored with promises of "I'll look into it and get back to you" which , of course, never happened. he apologized for the lack of communication but it just seems that the attitude of the company is make the sale and sayonarra. In any case i sent in the paper work and should take delivery next week. Thanks all for your time and advice


Making such a large investment on a recreational item should be an enjoyable event. This doesn't sound like a great buying experience to me. I would have backed out of this deal. I thought initially it was an application for a loan, in which case it would have been appropriate to send the documents, but to pay before the unit is delivered and inspected by you just appears to be inappropriate. I would never put myself in that situation.
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Old 10-04-2011, 04:23 PM   #30
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upon signing the contract back in july i was required to put a 10% non-refundable deposit down on the unit. Backing out was not an option.
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