Required Down Payments on New RV Loans

[Herk7769]

Originally Posted by Los Popes

Just refi'd our rig for 4.79 through Bank of the West and knocked 30 months off the loan and saving $16k in interest. When I bought it new I got 6.39 through USAA - when I told USAA about the new refi rate and term they could not match it.

USAA has to answer to "US" (the members - through the board of directors) and is very particular about "negotiated" interest rates regardless of credit score.

You can sometimes do a lot better elsewhere. My DW's new car got financed for 5 years at 1.79% with zero down and included the extended warranty through Navy Federal Credit Union. USAA could not come close for 5 years, though they would do 1.79 for 3 years.

[cstover]

Same with me. We financed dw's car through Toyota at 1.79 for 5 years. USAA would only do 5%.

[jlwardn]

Remember.....dealers get to mark up the rate. It is a huge profit source for them. They always want to look at your credit score first so they can use it against you. You may have a blemish but still get a approved for a higher rate but the dealer talks about your credit history with you and then you feel nervous about your blemish and take the higher rate because you had no idea what you actually were approved for. Check with local credit unions too....they have great rates without the BS.