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06-01-2020, 06:28 PM
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#1
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Senior Member
Join Date: Mar 2011
Location: Phoenix, Arizona
Posts: 645
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Who is doing competitive RV loans?
With times being tough, who has been able to get an RV loan and at what rate?
Our credit score is 800 plus.
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06-01-2020, 07:13 PM
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#2
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Senior Member
Join Date: Jan 2018
Location: Summit Township
Posts: 884
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Give Alliant Credit Union a call. We got our Hemisphere through them 2 years ago, rate was 4.49%. Just did a 2015 Ford F250 through them, rate is 3.99%.
__________________
2019 Hemisphere 272RL
2015 Ford F250 6.2L
2005 Jayco Bantam Flier
Hensley Hitch
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06-01-2020, 07:23 PM
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#3
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Senior Member
Join Date: Feb 2018
Location: TEXAS
Posts: 9,225
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__________________
2015 Dynamax REV 24TB class C
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06-02-2020, 06:05 AM
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#4
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dotsonjc
Join Date: May 2012
Location: Southeast Michigan
Posts: 85
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Genisys Credit Union
Was able to refinance our 2018 Wildwood at Genisys Credit Union here in Southeast Michigan for 3.89%.
__________________
Current:
2011 Expedition XLT
2018 Wildwood X-Lite 282QBXL
Past:
2012 Coachman Freedom Express 22DSX
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06-02-2020, 08:14 AM
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#5
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Senior Member
Join Date: Feb 2018
Posts: 161
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We did ours through M&T bank, 3.99. That was back in Feb.
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06-02-2020, 12:43 PM
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#6
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Junior Member
Join Date: Oct 2019
Posts: 14
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lowest rates
 I've found your local credit unions seem to offer the lowest RV & vehicle rates. Our local university c/u is showing 3.2% on rv's 2011 and newer.
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06-02-2020, 01:28 PM
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#7
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Senior Member
Join Date: Apr 2015
Posts: 446
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I want to refinance and wonder if credit score is an issue with a refi. Don't want to go to all the trouble only to be turned down. My score isn't the best not because of payment history but because I have too high a loan to debt ratio. So I would think a refi is actually lowering the ratio, so it might be in my favor. But just don't know.
Any loan officers out there with some valid advice?
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06-02-2020, 05:56 PM
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#8
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Senior Member
Join Date: Oct 2017
Posts: 441
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I have recently retired and am living off savings this year so no taxable income but really want to refi my MH. My credit score is great, house is paid off, can you try a credit union if not affiliated with it in any way? Like a bank? Will my no income situation be an issue? Any suggestions for a credit union in So Cal?
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06-03-2020, 05:46 AM
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#9
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Junior Member
Join Date: Jan 2019
Location: Beachside
Posts: 23
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Bank of the West has great rates for those with 800+ FICO scores.
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06-03-2020, 08:45 AM
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#10
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Senior Member
Join Date: Feb 2018
Location: TEXAS
Posts: 9,225
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Quote:
Originally Posted by LandKKnight
I have recently retired and am living off savings this year so no taxable income but really want to refi my MH. My credit score is great, house is paid off, can you try a credit union if not affiliated with it in any way? Like a bank? Will my no income situation be an issue? Any suggestions for a credit union in So Cal?
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Are you on social security or some type of pension? We found it easier to get credit on social security. Apparently banks like a guaranteed income rather than a job where you can get laid off.
__________________
2015 Dynamax REV 24TB class C
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06-03-2020, 09:28 AM
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#11
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Senior Member
Join Date: Nov 2015
Posts: 4,223
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Quote:
Originally Posted by Reverse_snowbird
Are you on social security or some type of pension? We found it easier to get credit on social security. Apparently banks like a guaranteed income rather than a job where you can get laid off.
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How about the fact that if you don’t pay and the RV is financed for way more than its worth then the SS income cannot be taken.
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BIRDS AREN’T REAL
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06-03-2020, 09:49 AM
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#12
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waybeck2018
Join Date: Sep 2018
Location: Central Alabama
Posts: 764
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Quote:
Originally Posted by Cabinfever97
Give Alliant Credit Union a call. We got our Hemisphere through them 2 years ago, rate was 4.49%. Just did a 2015 Ford F250 through them, rate is 3.99%.
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Our experience with Credit Unions was that they have a short loan life time, 12 years. Three years ago tried to finance a 41 ft 5th wheel through our CU. Easily approved (830 FICO) but 12 year loan term payment was higher than we wanted. Went to Bank of the West, easy approval with better loan terms. May try to refinance my self.
__________________
2012 F-250, 6.7 Super Duty Powerstroke; 2019 291 BR Primetime Tracer,
Days camped in 2018-61
Looking Forward to Completing This Map Soon !
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06-03-2020, 10:27 AM
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#13
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Senior Member
Join Date: Jul 2017
Location: North of Seattle, WA
Posts: 17,352
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Expect big changes. One large bank just announced they were no longer offering certain car loans. Preparing for an economic downturn perhaps?
Auto manufacturers have their own financing divisions but I dont think any RV msnufacturers do.
__________________
"A wise man can change his mind. A fool never will." (Japanese Proverb)
"You only grow old when you run out of new things to do"
2018 Flagstaff Micro Lite 25BDS
2023 f-150 SCREW XLT 3.5 Ecoboost (The result of a $68,000 oil change  )
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06-03-2020, 10:37 AM
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#14
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Senior Member
Join Date: Oct 2017
Posts: 441
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Quote:
Originally Posted by Reverse_snowbird
Are you on social security or some type of pension? We found it easier to get credit on social security. Apparently banks like a guaranteed income rather than a job where you can get laid off.
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Not yet. Living off non qualified savings for the 1st 2 years of retirement, then will take income from investments. Not taking SS till age 70 and I'm 64 1/2 now. That's what makes it hard, no income to show.
__________________
Kevin and Linda Knight
2018 Isata 5 30FW 4x4
dog-mobile for Sophie, Roxy, and Kai
Windsurf-mobile for us
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06-03-2020, 11:17 AM
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#15
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Insert witty title here
Join Date: Apr 2016
Location: About 30 miles west of Beantown.
Posts: 4,034
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Just bought mine. Financed through M&T Bank
__________________
2021 Transcend Xplor 247BH
Husky WDH with Sway Control
2021 Chevy Silverado 2500HD LT 6.6L V8 Duramax
Forever in my memory. Forever in my heart.
Laurie J. Wood 3/22/67 - 8/23/19
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06-03-2020, 04:01 PM
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#16
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Junior Member
Join Date: May 2020
Posts: 2
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Quote:
Originally Posted by toshu
With times being tough, who has been able to get an RV loan and at what rate?
Our credit score is 800 plus.
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Knoxville TVA Credit Union @2.99% for 84 months.
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06-03-2020, 04:55 PM
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#17
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Senior Member
Join Date: Jul 2017
Location: North of Seattle, WA
Posts: 17,352
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Quote:
Originally Posted by BBQMAN
Knoxville TVA Credit Union @2.99% for 84 months.
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Local Dealers were pushing longer term loans (180 months) so they could show lower monthly payments. Lower payments leave more room for selling all the add-ons. 
__________________
"A wise man can change his mind. A fool never will." (Japanese Proverb)
"You only grow old when you run out of new things to do"
2018 Flagstaff Micro Lite 25BDS
2023 f-150 SCREW XLT 3.5 Ecoboost (The result of a $68,000 oil change )
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06-04-2020, 12:24 PM
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#18
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Senior Member
Join Date: Feb 2018
Location: TEXAS
Posts: 9,225
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Quote:
Originally Posted by LandKKnight
Not yet. Living off non qualified savings for the 1st 2 years of retirement, then will take income from investments. Not taking SS till age 70 and I'm 64 1/2 now. That's what makes it hard, no income to show.
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LandKnight, That does make it difficult. Have you considered trying to refi with your current lender?
We did the math and decided that after being laid off and with no prospect of current employment, we took SS rather than decrease cash for living expenses. I know the reason for waiting until your 70, but a lot of our friends never made it to that milestone and their spouse was left with little cash. It all depends on how much you have in investments.
But I digress. toshu, if you're buying from a dealer, your best bet might be the dealer. They usually go through a bank and their rate will be based on your credit rating. If you have a quote from a different lender, you can use that as a negotiating tool when the dealer tells you their 'best rate'. They will usually beat it, but not always. They couldn't beat our credit union rate.
__________________
2015 Dynamax REV 24TB class C
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06-07-2020, 08:39 AM
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#19
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Member
Join Date: Apr 2020
Location: Michigan
Posts: 36
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ours is through community west credit union in the Grand Rapids, Michigan region
__________________
2018 Cherokee Wolfpup 17RP
2018 Can-am Outlander Max XT 650
2012 Ram 2500 Cummins 4x4 Crewcab Regular Bed
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07-12-2020, 07:55 AM
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#20
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Junior Member
Join Date: Jan 2019
Posts: 1
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What about loans for full timers we are having a issue since we don't have a house any longer. Any suggestions on that also.
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