Thread Tools Display Modes
Old 05-13-2016, 08:42 PM   #1
Join Date: Jan 2016
Location: Everywhere, USA
Posts: 84
Best financing for full timers?

Those of you who full-time, how did you finance your RV, besides paying cash? We have just about everything through USAA, and planned to finance the RV through them as well (already approved, pending VIN from factory). However, one of the questions they asked is if I would be using the RV as a primary residence. I asked why they asked this, and he explained that they would not write a loan for a full-time RV! I told him I would be living in my house (not a complete lie, as I have to sell the house before I can go full time.)

My main concern is that they will eventually find out we are full timing (especially when our address changes to a mail service such as MyRVMail) and then they may default the loan?! I'm guessing we'd be better off just going with Good Sam Finance?
2017 Coachmen Chaparral 390QSMB
2015 Ford F-350 Lariat 4X4 CC LB DRW PSD
TheRowlands is offline   Reply With Quote
Old 05-13-2016, 08:45 PM   #2
Senior Member
B and B's Avatar
Join Date: Jun 2013
Posts: 10,709
Send a message via AIM to B and B
Can you use a kids address?
B and B is offline   Reply With Quote
Old 05-13-2016, 08:53 PM   #3
Join Date: Jan 2016
Location: Everywhere, USA
Posts: 84
No, our kids are 7 and 5 We were going to use my wife's parents' address, but we decided to "move" to Florida instead. I don't want to burden them with our mail, and of course, there's the added benefit of no income tax in FL.
2017 Coachmen Chaparral 390QSMB
2015 Ford F-350 Lariat 4X4 CC LB DRW PSD
TheRowlands is offline   Reply With Quote
Old 05-13-2016, 09:17 PM   #4
Phat Phrog Stunt Team
AquaMan's Avatar
Join Date: Apr 2012
Location: Tipp City, OH
Posts: 7,151
You're not full timing, you're between homes. The RV is not permanent, as they don't last forever, you're just traveling in it until you buy another home, regardless of how long that may be. That would be my story.

Sent from my iPhone using Forest River Forums
2016 Georgetown 364TS
2017 Jeep Rubicon Recon toad
Nights Camped 2019 - 17
AquaMan is offline   Reply With Quote
Old 05-14-2016, 01:08 AM   #5
Fulltime family RVer
ependydad's Avatar
Join Date: Nov 2011
Posts: 19,905
IMO, FRF is a great forum but there are relatively few fulltimers. I'd search the "Fulltime Families" Facebook group. This is covered about weekly.
2018 Ram 3500 DRW/crew cab/long bed/4x4/4.10 gears pulling a 2017 Spartan 1245 by Prime Time
Checkout my site for RVing tips, tricks, and info | My family and I have fulltimed since June 2015
ependydad is offline   Reply With Quote
Old 05-14-2016, 09:56 AM   #6
Senior Member
Join Date: Sep 2010
Posts: 2,015
Honesty is the best policy.

2010 F250 5.4L 3.73
2011 Flagstaff 831FKBSS
Equal-i-zer 4pt 12K

2011 Flagstaff 831FKBSS
2010 F250 4X4 5.4L 3.73 LS
EQUALIZER E4 1200/12000
lbrjet is offline   Reply With Quote
Old 05-14-2016, 12:10 PM   #7
Junior Member
Kayakerfl's Avatar
Join Date: Mar 2016
Location: Pensacola
Posts: 17
I financed through USAA too and was asked the same question. As I will at times sleep other places I did not consider myself full time. I vacation a lot, as I'm sure you do too. USAA is not the type of financial institution to default on the loan, after all you could decide in a year you want to be permanent and USAA would not penalize you for changing your mind at a later time.

Military Retired
Proud American
Kayakerfl is offline   Reply With Quote
Old 05-14-2016, 03:10 PM   #8
Junior Member
Join Date: Jun 2013
Posts: 22
Full-Timing Loans

We obtained our loan through Essex Credit. They do the loan and it is then transferred to Bank of the West. They will go up to 20 years for full-timers and their interest rate is around 3.99%. They are very easy to work with.

One other problem is who you have your insurance for the RV with. We had ours with State Farm but when we went full time found out they will not insure full-timers. We now have our coverage with Progressive because they have an option to pay for an "agreed price" if something would happen to the RV. They determine what the book value is on the day you become insured and that is the amount they will pay you as long as the coverage is paid for.

You really should be honest - someone always know what you are doing if you are pretending you are not a full-timer (neighbors, family members, co-workers, etc. will spill the beans) and coverage can be denied. We are happy with the loan thru Essex Credit and Progressive. Also, Alliant does full-time RV loans but I don't believe they will go as long as 20 years.
kaymfischer is offline   Reply With Quote
Old 05-14-2016, 07:00 PM   #9
Join Date: Jan 2016
Location: Everywhere, USA
Posts: 84
Thanks for all the feedback so far. I had asked on a Facebook group as well and have received similar advice.

My goal is to be honest, which is what raised this question in the first place. We have plans to go full time as soon as we fix and sell the house (and most belongings).

When I first called USAA to get a loan, I was asked asked if I plan to live in it full time and I said yes. He then said I must have misunderstood the question, as they will not finance it for full time. I responded that I currently own a house in which I live, and he said that was a better answer. I took this as him fully understanding my intent, and guiding me toward a better answer for technicalities. The loan is currently pending, as I do not yet have a VIN from the factory.

I called back yesterday and asked what would happen if I got the loan, and later decided to go full time, and wasn't able to get a clear answer. He (different person than prior conversation) kept saying it wasn't his department. I asked to speak to that department, and he told me that since the loan is not yet written, if I talk to them and ask that question, they will likely stop the loan from being written. He also said if I get the loan and later go full time, I will have to call and tell them so they can note it on the loan, but didn't think they would rescind the loan (I'm not even sure if they have the ability to rescind it for that). When I asked why they need to note it, he said it had to do with taxes, and that if I live in it full time, I would not be able to receive yearly tax documents for the interest paid.

I can't imagine I would really feel the need to tell them if I move into it, but I had planned to obtain insurance with Progressive through USAA. Initially my insurance will be USAA. They will insure an RV, but they do not have full time coverage. They partner with Progressive for that. If I change to full time rv coverage with partner company, it would be hard for them to not know.

If we go with USAA and are later asked if we are full-timing, I will certainly tell the truth. I just want to find out from those who have done it what the repercussions are in this with USAA, if any. They have been great to me so far. Almost everything in my life relating to financing and insurance is through them, and I really appreciate what they stand for. I would like to go with them if I feel like I can do so honestly and without worry.
2017 Coachmen Chaparral 390QSMB
2015 Ford F-350 Lariat 4X4 CC LB DRW PSD
TheRowlands is offline   Reply With Quote
Old 05-14-2016, 08:50 PM   #10
Junior Member
Join Date: Mar 2015
Posts: 3
Different route

My wife and i sold our home and bought a new 5th wheel a month later. We have lived in it for almost a year now. We too have nearly everything with USAA. When we first inquired on the loan with them we too were asked the same questions, although we have a home on the coast, and were told to use that address. I was not comfortable with that at all. Afterall, they handle accounts from checking to investments, auto loan and insurance, even life insurance. We actually went with Capitol One because, as odd as it sounds, they beat USAA by nearly a point. They also are ok with full-timing, at least they didnt ask any other questions. We covered the insurance through National General and love them so far. Good luck on the move. We love it and have not regretted it for a second.
beauski99 is offline   Reply With Quote
Old 05-14-2016, 08:51 PM   #11
Junior Member
Join Date: Jun 2013
Posts: 22
Wink Full-timer financing

Sounds like you have your head on straight and are going about this in the right way. Good luck and happy travels.
kaymfischer is offline   Reply With Quote
Old 05-15-2016, 03:40 PM   #12
Senior Member
Join Date: Jun 2009
Location: SW Oklahoma
Posts: 259
We are full timers and retired. We financed through Alliant Credit Union in Chicago (we maintain an Oklahoma residence). Alliant is RV friendly and there wasn't an issue. Got the loan for $105k, 20 years, 3.99%. Give them a try. Cheaper than Good Sam and was all done online. By the way, we were not members of Alliant until we requested the loan.

2014 Dynamax Trilogy 3850RL - South Hampton Interior, Full Body Paint (Black / Silver / White), MOR/ryde Independent Suspension, MOR/ryde Disc Brakes, ONAN 5500 Generator, Progressive Industries HW50C w/Dual Display, Winegard HD Dish w/DirecTV, Washer & Dryer, iSprings 7-stage Reverse Osmosis Water Filter, Trail-Air Flex Air Pin Box, Third AC installed, AC Voltage/Amp Meters, DC Amp Meter, Garnett See Level Tank Sensors, TST 507 TPMS
Retired USAF - Full Timers!
John Hagen is offline   Reply With Quote
Old 05-15-2016, 11:28 PM   #13
Senior Member
97flhtcui's Avatar
Join Date: Jul 2007
Location: Georgetown, Texas
Posts: 190
We are fulltimers and have bought 3 rv's since. Our first loan was Wachovia, then in 08 loan is from bank of the west fo 15 yr loan. In February of 15 we bought a new cedar creek and the dealer wanted to go with a different lender but we were supposed to lie about fulltiming. I told them to go through bank of the west. Another 15 year loan. Our insurance is through national general (good Sam). There are plenty of lenders that do fulltimers. We use a p.o. box for mail and we host at a local state park 4 months out of the year and use that address as our physical if needed.
2011 Ford F-250 6.2l gas 373 rear end
2015 Cedar Creek 34RL
MORryde IS 7000 LB
Kodiak Disc Brakes
97flhtcui is offline   Reply With Quote

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


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 07:11 AM.