RV Wholesaler Financing Discount Legit?

[garybeau]

My wife and I just purchased our 2nd vehicle from RVW in the past 2.5 years. You have to use their recommended finance company in order to get the discount, but you can do exactly as described. The rate we got was identical to what we could have gotten from our credit union here in Arizona. I paid a very large first payment two months ago and plan on paying it off next year after the 12 month period is over. We saved almost $10k buying from them instead of a local dealer. The last time we bought from them, I had an electrical problem right at the end of the warranty and their dealer network worked perfectly. I did not have to pay a single penny. Great company to work with.

[MR.M]

Originally Posted by JoePa77

This is how I purchased my RV from RVWHOLESALERS. They did exactly what they said, you sign an agreement and they run your credit card for the rebate that they will charge if you payoff before the twelve months.
Also, let.me weigh in on the other topic, even though everyone will think I’m wrong (this site is truly very critical over little things). The interest is totally tax deductible no matter if you was use it or not. You must use a schedule A and (for this example-married and filing jointly) have $24,000 in total deductions to file and enjoy the benefits of the “mortgage” interest. [fire away].

Seems like last year that was changed to only include motor coaches and excludes travel trailers and 5th wheels for a mortgage interest deduction . i could be wrong not a tax expert

[CHICKDOE]

you are not mistaken. the tax laws were changed so you can only deduct mortgage interest on a rv vehicle that is motorized. this excludes trailers and 5th wheels. also you can only take it if you itemize deductions. taking the newly increased standard deduction means you cannot take the home mortgage interest deduction for a motorized rv.

[AbdRahim]

Originally Posted by formerFR

it's amazing that while most of us would think that someone paying CASH would get their attention and get the best 'price' for an RV.... it's actually not the case - the dealer doesn't get the 'rebate' from the loan provider, and sometimes have a MUCH harder time 'upselling' various 'add ons' and 'extended warranties', which they also make big profits on, since the customer has to pay the FULL PRICE, right then and there - it's not 'financed' into the monthly payment where it might look a lot 'smaller' of a difference!

Man, did I find that out.

[k9jkfham]

Where is RVW located?

[bikendan]

Originally Posted by k9jkfham

Where is RVW located?

Google is your friend:

https://www.rvwholesalers.com/

[OburgOrange]

Do they deliver out of state?

[bikendan]

Originally Posted by OburgOrange

Do they deliver out of state?

Yes or you can meet them anywhere in between, to save on shipping costs.
We were going to meet the driver halfway, in Rawlins, Wyoming.
But we ended up buying from a Chicago dealer and picked it up ourselves.

[dpease99]

I purchased my 2018 8310SS from them and got a $3,000 discount for getting a loan thru BofA. I paid all but about 13 payments on the first payment. They were great, even with some warranty stuff. If you don't make 12 payments they will come after the discount, so make sure to make at least 12 payments. Good luck they have great prices

[Mad Cow]

Originally Posted by CHICKDOE

you are not mistaken. the tax laws were changed so you can only deduct mortgage interest on a rv vehicle that is motorized. this excludes trailers and 5th wheels. also you can only take it if you itemize deductions. taking the newly increased standard deduction means you cannot take the home mortgage interest deduction for a motorized rv.

If one uses it only once in a year combining a trip with business, then it all becomes a business write off. My 2015 Chevy 2500HD that does my towing is a write off also.

This discount thing for financing all sounds pretty good. The key question is how much off of MSRP was the buy before the financing deal was made? If it wasn't all that substantial, say 25-30% off of MSRP at a minimum, then the financing discount really didn't mean as much as it appears. It was taken care of by paying too much for the buy itself. As I have stated before, nothing is free and no one on the other side of the desk is losing anything.

[Herk7769]

Get a quote from Total Value RV in Elkhart, IN.

They beat RVWholesalers AND RV Direct and I could pay cash without penalty.

I would buy from them again without hesitation.

Worth the drive to Indiana as I saved many thousands of dollars.

Ask for Dave Olsen. He is a one quote and done kind of guy.

Lou

[Herk7769]

FYI - an open forum is not a good place to get tax advice.
You may get good advice or not.
I would not buy an RV for the tax advantages... There may be none.

[Mad Cow]

Originally Posted by Herk7769

FYI - an open forum is not a good place to get tax advice.
You may get good advice or not.
I would not buy an RV for the tax advantages... There may be none.

That is true. Anything should be discussed with a good CPA. Everything I do in that regard, I discuss with my CPA. I may own and run a business successfully, but I also know how to outsource some things to those who are experts.

[ARICE]

Originally Posted by formerFR

it's amazing that while most of us would think that someone paying CASH would get their attention and get the best 'price' for an RV.... it's actually not the case - the dealer doesn't get the 'rebate' from the loan provider, and sometimes have a MUCH harder time 'upselling' various 'add ons' and 'extended warranties', which they also make big profits on, since the customer has to pay the FULL PRICE, right then and there - it's not 'financed' into the monthly payment where it might look a lot 'smaller' of a difference!

You are right. The days of paying cash for trucks and RVs and being a preferred customer because we do so have been gone for about 15 years now.
The "Pyramid Scheme" that is auto, equipment, and RV financing has all dealers a slave to every scheme that comes along that nets them an additional .05% here and there.
I recently bought a new 2018 RAM 3500 still on the lot varryiver and, to get the discounts offered, was going to put 10k down and pay off in first three payments.
When I went to pay the 10k down payment with my Credit Card to get my cash back points the Finance Manager said..."Oh we can only do 2500.00 on the card and the rest has to be check or cash"....I knew he was playing for the 3% fee he would have to pay for the card usage.
I told him okay......deals off. His mind changed and I used my CC to pay the down payment and then paid off on month 2.
I get it everyone needs to make money but buying a truck or RV shouldn't be so difficult in my opinion.

[smgelsie]

RVWholesalers is in western Ohio. Lakeview? Lakewood? Something like that .. check out their website rvwholesalers.com

[OldJarHead]

Originally Posted by KayleysMom

We bought through RVW in January 2017 and received an additional $4000 discount for financing through them. We were cautious also. We were a cash buyer but we did exactly what the original poster was told to do: On our first payment we paid everything except for 12 payments. (Just to be on the safe side.) Then we made our regular payments for the next 12 months and the unit was paid off. We only paid $200 in interest but saved the $4,000. In reference to the quote above, if I recall correctly we did have to sign a form stating that if we did not keep the loan for at least 1 year that we would repay the $4,000.


This worked well for us and saved us $3,800.

X2

[Mad Cow]

Still would be nice to compare what the MSRP was on the unit and how much the actual total purchase price was before the financing game began to see if there actually was any real savings with this sort of financing thing. I have seen a lot of bait and switch tactics over the years and without the entire picture there is no way to know if these anecdotal events are indeed saving anything.

[rmac04401]

MSRP is very fluid amount dealers. Two dealers will have different MSRP’s for the same trailer with the exact same options.

I bought mine from RV wholesalers. Did the financing. The price was 70% of MSRP then the discount on top of that. Still shop around. My brother bought a trailer after me and Wana RV in Indiana was cheaper than RV Wholesalers and did not need to do the finance thing.

Research and comparison shopping is key in purchasing items.

[chriscowles]

If the loan interest is deductible, that doesn't mean you should take the deduction. If you're in a very high tax bracket and have lots of other deductions, perhaps. If you're like most middle class Americans, probably not.

Having a business and being able to justify using it as a business deduction is a different topic altogether.

[Mad Cow]

I recently took a very comprehensive 23 lesson course from a former RV dealer who is also a long time RV'er on how to buy and RV. I highly recommend the course. It is $97 and well worth it.

www.rvmasters.com

Not a bunch of how the take the dealer for a ride nonsense, but basic business principles to level the playing field for the buyer. There is a lot of established business practices that are employed to move the buyer's focus without them realizing it. And surprisingly, the "high - Low" negotiating game commonly works against the buyer. Even the discount for financing thru the dealer, the customer almost always ends on with the short end of the stick.

As good of a buyer as one thinks they are, they probably can learn one heck of a lot from these videos. Salesmen and dealerships, generally, are not sleaze mongers. They just have established tactics they employ to move the buyer off balance and maximize their profit margin. It is just business. These videos just help level the playing field a little. Good for newbies or seasoned RV'ers.

I don't get any cut for recommending this. I plunked down the $97 for the course and I am so glad I did. One of the best expenditures I have made in a while. I even find myself going back and reviewing different lessons in the series. Good learning for buying any high ticket item, not just RV's.