Journey with Confidence RV GPS App RV Trip Planner RV LIFE Campground Reviews RV Maintenance Take a Speed Test Free 7 Day Trial ×


Reply
 
Thread Tools Display Modes
Old 10-21-2016, 10:02 AM   #1
Junior Member
 
Join Date: Jul 2016
Posts: 26
What is a good APR?

Looking to purchase new coach and finance through dealer. Credit score is 800, what kind of APR should I be expecting on a 240 month note? Anyone having experience with this please respond. Thanks
Ziggyb0y is offline   Reply With Quote
Old 10-21-2016, 10:11 AM   #2
Senior Member
 
Join Date: Jul 2010
Posts: 7,948
It depends on the state.
240 month would be really low. How much would you be financing?
$75,000 to $150,000?
With that said for a new rigs I would suspect 2%- 3% with your 800 score which is in the excellent range
Iggy is offline   Reply With Quote
Old 10-29-2016, 07:24 AM   #3
Senior Member
 
Secarider's Avatar
 
Join Date: Oct 2016
Posts: 198
Rate

We just financed $75K with 798 credit score at 4.20%. 2% would have been a great savings, I called several institutions and they had nothing under 4.15%. Maybe it is like gas prices here in Dayton Ohio which fluctuate .35 cents in a day.
Secarider is offline   Reply With Quote
Old 10-29-2016, 08:04 AM   #4
Senior Member
 
Witch Doctor's Avatar
 
Join Date: Feb 2012
Location: Clarksville Va.
Posts: 10,422
Quote:
Originally Posted by Iggy View Post
It depends on the state.
240 month would be really low. How much would you be financing?
$75,000 to $150,000?
With that said for a new rigs I would suspect 2%- 3% with your 800 score which is in the excellent range
No way possible your in dream land..
__________________
Coachmen M/H
Concord
2018 / 300 DSC

Witch Doctor is offline   Reply With Quote
Old 10-29-2016, 08:09 AM   #5
World Wide Wanderer
 
wahoonc's Avatar
 
Join Date: Feb 2016
Location: Sprung Leak, NC
Posts: 1,732
Anything under 5% APR is going to be good. Ours from last year is at 3.99% APR.

It is going to vary based on the source, the state and how good the dealer is at negotiating.

Aaron
__________________
Aaron & Rhonda
wahoonc & Airangel60

2016 Coachmen Concord 300DS
2015 Fusion Hybrid following along
wahoonc is offline   Reply With Quote
Old 01-05-2017, 07:47 PM   #6
Junior Member
 
Join Date: Sep 2016
Posts: 1
APR

What bank are you finding these great rates at? We have 750+ score and the dealership stuck us with a 5.75 rate. I'd love to refi and get something around 4 or less.
DGriz is offline   Reply With Quote
Old 01-05-2017, 07:55 PM   #7
Senior Member
 
Join Date: Mar 2013
Posts: 315
One year ago we got 2.9% through U.S. Bank . Don't know what it is today.
__________________
Georgetown XL 377TS
USAF-- CMSGT Retired.
georgew48 is offline   Reply With Quote
Old 01-05-2017, 07:58 PM   #8
Senior Member
 
BandJCarm's Avatar
 
Join Date: Jun 2013
Location: Between Pickles Gap and Toad Suck, AR
Posts: 6,070
Geez.

I got 1.9% on TV in March. I think the Trailer was 2.95.......

Try State Farm. They're overlooked a lot of times. Have good rates usually and have 'free' (bundled, I realize) GAP insurance.
__________________
"Next to prayer, fishing is the most personal relationship of man" Herbert Hoover
"American by Birth, Southern by the Grace of God"Lewis Grizzard

FROG AR-0019-242
2016 GMC Denali 3500Dually--2017 CC 36CKTS
BandJCarm is offline   Reply With Quote
Old 01-06-2017, 01:25 PM   #9
Senior Member
 
Secarider's Avatar
 
Join Date: Oct 2016
Posts: 198
We financed through bank of america
Secarider is offline   Reply With Quote
Old 01-06-2017, 01:42 PM   #10
Senior Member
 
Tapex's Avatar
 
Join Date: May 2016
Location: Farmer
Posts: 4,988
Same here Bank of America at $241 a month / rate 4.5% for 12yrs.
__________________
2016 Coachmen Apex 250RLS Ultra Light
2023 Ram 2500 Big Horn Sport 3.73
Tapex is offline   Reply With Quote
Old 01-06-2017, 01:45 PM   #11
Pickin', Campin', Mason
 
5picker's Avatar
 
Join Date: Aug 2015
Location: South Western PA
Posts: 19,051
You folks really taking 20 year loans on your rigs? (240 month)
__________________
2022 Cedar Creek 345IK 5th Wheel•Solar & Inverter•2017 Ford F-Series SCREW 4x4•Factory Puck•B&W Companion•TST Tire Monitor w/Repeater•Sinemate 3500w Gen.
F&AM Lodge 358 Somerset, PA - JAFFA Shrine - Altoona, PA

Days Camped '19=118 '20=116 '21=123 '22=134 '23=118 '24=64
5picker is offline   Reply With Quote
Old 01-06-2017, 01:49 PM   #12
Senior Member
 
BandJCarm's Avatar
 
Join Date: Jun 2013
Location: Between Pickles Gap and Toad Suck, AR
Posts: 6,070
Quote:
Originally Posted by 5picker View Post
You folks really taking 20 year loans on your rigs? (240 month)
Yeah, I did. That helped get rate below 3%.
Doesn't mean I'll make that many payments.
__________________
"Next to prayer, fishing is the most personal relationship of man" Herbert Hoover
"American by Birth, Southern by the Grace of God"Lewis Grizzard

FROG AR-0019-242
2016 GMC Denali 3500Dually--2017 CC 36CKTS
BandJCarm is offline   Reply With Quote
Old 01-06-2017, 02:15 PM   #13
Senior Member
 
Tapex's Avatar
 
Join Date: May 2016
Location: Farmer
Posts: 4,988
We are planning and wanting to have it payed off in 6 is our plan since it is our first TT.
__________________
2016 Coachmen Apex 250RLS Ultra Light
2023 Ram 2500 Big Horn Sport 3.73
Tapex is offline   Reply With Quote
Old 01-06-2017, 02:29 PM   #14
Senior Member
 
SailorSam20500's Avatar
 
Join Date: Jun 2016
Posts: 5,033
I put ours on a home equity loan. Rate just bumped up to 2.99%. First 6 months was 2.45%. Plan to pay the trailer off if/when the rate goes over 3.5.

TV is on a 60 month 0% deal.
__________________
Al
I am starting to think, that I will never be old enough--------to know better.
Tolerance will reach such a level that intelligent people will be banned from thinking so as not to offend the imbeciles. Fyodor Mikhailovich Dostoevsky, Russian Novelist
S.E. Mich. Flagstaff 26FKWS / 2022 F-150 3.5 EcoBoost SCrew Propride
SailorSam20500 is offline   Reply With Quote
Old 01-06-2017, 03:22 PM   #15
Senior Member
 
Join Date: Mar 2013
Posts: 315
Nothing wrong with a 20 year loan especially if you can get a lower APR then what your investments are making. You can always pay off early and you don't have your cash tied up. Different strokes for different folks.
__________________
Georgetown XL 377TS
USAF-- CMSGT Retired.
georgew48 is offline   Reply With Quote
Old 01-06-2017, 06:50 PM   #16
Senior Member
 
Join Date: Jul 2009
Location: Warsaw,NC
Posts: 7,184
I got mine financed for 20 years, I told them I wouldn't live that long and with a straight face they said someone would.


Sent from my iPhone using Forest River Forums
spock123 is offline   Reply With Quote
Old 01-06-2017, 07:38 PM   #17
Senior Member
 
Join Date: Sep 2016
Location: SE Michigan
Posts: 2,024
I paid cash myself. Actually, I pay cash for almost everything, excepy business related purchases that I can deduct the interest on and write off the principal.. I hate finance charges and I have one credit card and it gets paid in full, every month. The farm is paid for as well.

Last time I checked my credit score was 5 points below the maximum.

Don't need no stink'in loans....

Bad enough paying taxes.
SidecarFlip is offline   Reply With Quote
Old 01-06-2017, 09:30 PM   #18
Senior Member
 
Join Date: Nov 2016
Posts: 337
Quote:
Originally Posted by Secarider View Post
We just financed $75K with 798 credit score at 4.20%. 2% would have been a great savings, I called several institutions and they had nothing under 4.15%. Maybe it is like gas prices here in Dayton Ohio which fluctuate .35 cents in a day.
For an rv today, that's really the going rate on a conventional loan. I could have gotten a 2.9 on a 10 year loan, but it renewed at 5 years. I did that on my last 2 rigs because I knew the rates would stay low. But today, in 5 years, I don't think so.
Mdaniels4 is offline   Reply With Quote
Old 01-06-2017, 09:42 PM   #19
Senior Member
 
Join Date: Nov 2016
Posts: 337
Quote:
Originally Posted by 5picker View Post
You folks really taking 20 year loans on your rigs? (240 month)
As long as you know you're going to pay it off early, rate is meaningless over time. I would rather pay 6% on 5 years than 3 for 20. That's a bit extreme but you get my point. The spread really isn't that much. So look at the end interest and not the payments. Do you really want a 20 year old trailer? I want my equity increasing quickly. I'll want a new rig at 5 years at best. I got this one in November because the 5 year balloon was coming up in September. I'd got my equity up on a trailer that still had significant value yet. So I paid cash to pay off the old one, and financed this one at 4.5 for 12 years, increasing my principle to again get my principle down, so in 5 years I see something else I like I can do it. Other than taking a hit on the last one, I've been working off the equity from my first 1992 fifth wheel. And I've gotten 3 new trailers along the way.
Mdaniels4 is offline   Reply With Quote
Old 01-06-2017, 09:46 PM   #20
Senior Member
 
Join Date: Nov 2016
Posts: 337
Quote:
Originally Posted by SidecarFlip View Post
I paid cash myself. Actually, I pay cash for almost everything, excepy business related purchases that I can deduct the interest on and write off the principal.. I hate finance charges and I have one credit card and it gets paid in full, every month. The farm is paid for as well.

Last time I checked my credit score was 5 points below the maximum.

Don't need no stink'in loans....

Bad enough paying taxes.
That's fine sidecar, but for most folks, getting somewhat free money rather than depletion of your savings really makes sense. Look. If I get into financial problems, keeping my second home is my last concern.
Mdaniels4 is offline   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


» Featured Campgrounds

Reviews provided by

Disclaimer:

This website is not affiliated with or endorsed by Forest River, Inc. or any of its affiliates. This is an independent, unofficial site.



All times are GMT -5. The time now is 06:08 AM.