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Old 07-28-2014, 12:49 PM   #11
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The bankers are getting hungry again and are doing more to get people to take out loans. Shop around a little, the CU's are always a great way to start.
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Old 07-28-2014, 01:09 PM   #12
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If you are a Costco member they are tied into Bank of the West/Essex Credit and have good rates. They are going through some mergers and joint ventures right now so some states are excluded until arrangements are finalized. Go to Costco website and check Services at the bottom of the page for more info.
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Old 10-30-2014, 09:24 PM   #13
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Originally Posted by dcheatwood View Post
Barksdale fcu gave us 2.39%
What was the loan term?
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Old 10-30-2014, 09:54 PM   #14
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Just financed this month our new fifth wheel with Bank of the West thru our dealership, Southaven RV in Southaven MS for 15 years for 3.94 rate.
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Old 10-30-2014, 10:03 PM   #15
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Originally Posted by jtownstumpjumper View Post
Just financed this month our new fifth wheel with Bank of the West thru our dealership, Southaven RV in Southaven MS for 15 years for 3.94 rate.

Thank you for this information! That's a great rate considering how long the term is. I am looking to finance for 10 years.


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Old 11-02-2014, 05:07 PM   #16
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Bank of America will even go 30 yrs on a 2007 Class C motorhome for 4.5% I had no idea that was even an option.
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Old 11-02-2014, 05:54 PM   #17
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Bank of America will even go 30 yrs on a 2007 Class C motorhome for 4.5% I had no idea that was even an option.
Listen guys, a simple loan analysis using a program like this Mortgage Calculator from Bankrate.com - Calculate Payments with Ease will educate you on loan basics. Just take the calculated payment x the number payments and subtract the borrowed amount. That will tell what the cost of the money is for your loan. Always remember the basic rule, time is your #1 enemy on any loan. Use the same rate but shorten the term by a few years and see why the lender loves to stretch the term out. The rate is a distant second. The caveat is that they will treat it very differently than say, a car loan. And for good
reason, there are much stricter rules on allowed terms for car loans, as opposed to RV's. So beware. Use the program to see how much your really paying over the life of the loan.

Also, take the time to shop for the money, and after you play around with this amortization program, it may open some eyes on exactly what that RV loan is costing you.
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Old 11-02-2014, 08:09 PM   #18
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Exactly, Still Kickin, thats why I put it out there. They definitely will stretch it to make more money!!


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Old 11-02-2014, 08:20 PM   #19
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Avoid at all cost U.S. Bank.

Go with the CU's. If you get sick or loose a job the CU will work with you. Most banks will not. U.S. Bank will put their boot on your neck and enjoy kicking you while you are down.

Do a search on U.S. Bank on this forum. You'll get an eyeful.
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Old 11-02-2014, 08:28 PM   #20
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I got a 10 year loan on our 5th wheel from USAA at a reasonable rate.

While you must be current or retired military to get their insurance, it is not well known that you do not need to be to use most of their financial services.

www.usaa.com
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