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10-21-2016, 10:02 AM
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#1
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Junior Member
Join Date: Jul 2016
Posts: 26
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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
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10-21-2016, 10:11 AM
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#2
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Senior Member
Join Date: Jul 2010
Posts: 7,948
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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
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10-29-2016, 07:24 AM
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#3
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Senior Member
Join Date: Oct 2016
Posts: 198
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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.
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10-29-2016, 08:04 AM
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#4
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Senior Member
Join Date: Feb 2012
Location: Clarksville Va.
Posts: 10,422
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Quote:
Originally Posted by Iggy
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
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No way possible your in dream land..
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Coachmen M/H
Concord
2018 / 300 DSC
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10-29-2016, 08:09 AM
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#5
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World Wide Wanderer
Join Date: Feb 2016
Location: Sprung Leak, NC
Posts: 1,732
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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
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Aaron & Rhonda
wahoonc & Airangel60
2016 Coachmen Concord 300DS
2015 Fusion Hybrid following along
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01-05-2017, 07:47 PM
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#6
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Junior Member
Join Date: Sep 2016
Posts: 1
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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.
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01-05-2017, 07:55 PM
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#7
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Senior Member
Join Date: Mar 2013
Posts: 315
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One year ago we got 2.9% through U.S. Bank . Don't know what it is today.
__________________
Georgetown XL 377TS
USAF-- CMSGT Retired.
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01-05-2017, 07:58 PM
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#8
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Senior Member
Join Date: Jun 2013
Location: Between Pickles Gap and Toad Suck, AR
Posts: 6,070
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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
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01-06-2017, 01:25 PM
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#9
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Senior Member
Join Date: Oct 2016
Posts: 198
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We financed through bank of america
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01-06-2017, 01:42 PM
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#10
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Senior Member
Join Date: May 2016
Location: Farmer
Posts: 4,988
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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
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01-06-2017, 01:45 PM
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#11
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Pickin', Campin', Mason
Join Date: Aug 2015
Location: South Western PA
Posts: 19,051
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You folks really taking 20 year loans on your rigs? (240 month)
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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
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01-06-2017, 01:49 PM
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#12
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Senior Member
Join Date: Jun 2013
Location: Between Pickles Gap and Toad Suck, AR
Posts: 6,070
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Quote:
Originally Posted by 5picker
You folks really taking 20 year loans on your rigs? (240 month)
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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
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01-06-2017, 02:15 PM
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#13
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Senior Member
Join Date: May 2016
Location: Farmer
Posts: 4,988
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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
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01-06-2017, 02:29 PM
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#14
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Senior Member
Join Date: Jun 2016
Posts: 5,033
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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
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01-06-2017, 03:22 PM
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#15
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Senior Member
Join Date: Mar 2013
Posts: 315
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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.
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01-06-2017, 06:50 PM
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#16
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Senior Member
Join Date: Jul 2009
Location: Warsaw,NC
Posts: 7,184
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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
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01-06-2017, 07:38 PM
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#17
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Senior Member
Join Date: Sep 2016
Location: SE Michigan
Posts: 2,024
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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.
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01-06-2017, 09:30 PM
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#18
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Senior Member
Join Date: Nov 2016
Posts: 337
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Quote:
Originally Posted by Secarider
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.
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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.
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01-06-2017, 09:42 PM
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#19
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Senior Member
Join Date: Nov 2016
Posts: 337
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Quote:
Originally Posted by 5picker
You folks really taking 20 year loans on your rigs? (240 month)
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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.
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01-06-2017, 09:46 PM
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#20
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Senior Member
Join Date: Nov 2016
Posts: 337
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Quote:
Originally Posted by SidecarFlip
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.
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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.
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