Motorhome Magazine Open Roads Forum: Beginning RVing: Financing
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mowermech

Billings, MT

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Posted: 02/06/18 07:45pm Link  |  Quote  |  Print  |  Notify Moderator

Crowe wrote:

Their only question was "how much do you want the payment to be?" We negotiated a payment amount, she filled out the paperwork, and handed me a check to pay for the truck.

Ouch! This is the first thing my father taught me NOT to do-negotiate a payment. Payments should be based on the interest rate and length of time, not just a fixed amount. Do you even know what your interest rate was?

but we also have extremely good credit(upper 800's)

Sneakyground, interesting. On what scale?


Why, yes, actually, we discussed the interest rate. If I forget what it is, it is on the quarterly statements.
No, I will not say what the rate is, nobody who reads these forums has a "Need To Know"!


CM1, USN (RET)
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Toy: 1999 Dodge QC SWB, Cummins, 5 speed, 4X4
Other toys: a pair of Kawasaki Brute Force 750 ATVs.
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Crowe

Billerica, MA USA

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Posted: 02/07/18 06:15am Link  |  Quote  |  Print  |  Notify Moderator

when we bought our TT this last month the CU finance guy told us what our score was(still in the upper 800's)

I was curious because the highest FICO score anyone can achieve is 850 (unless they've changed the scale somewhere).

my wife is very good with handling finances

if it were me we would be broke,but i would have a heck of a lot more guns and toys than i do lol


Sounds like my house!

No, I will not say what the rate is, nobody who reads these forums has a "Need To Know"!

Wasn't interested in the rate but one of the biggest rookie mistakes when getting financing is telling the seller/lender what you want your payments to be. Yes, I know YOU are not a rookie but there are many people on here who are and if any of us can prevent them from making a big financial mistake it's worth clarifying information.


Subscribe to the 3 "L" rule-don't stop livin', lovin' and learnin'

RV-less for now but our spirits are still on the open road.

Crowe

Billerica, MA USA

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Posted: 02/09/18 06:53pm Link  |  Quote  |  Print  |  Notify Moderator

OP, have you had any luck securing financing?

goreds2

OH H ..... EYE OH !

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Posted: 02/14/18 10:50am Link  |  Quote  |  Print  |  Notify Moderator

Save for a few months and pay cash. (My opinion)


See Picture In My Profile
I have a 1989 Dodge XPLORER RV Class B - Purchased 10/15/10 IN CASH
Girlfriend purchased a Class C 2002 Dynamax Carri-go on 5/1/15 IN CASH
We've got the best of both worlds

mlslcan

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Posted: 02/14/18 02:37pm Link  |  Quote  |  Print  |  Notify Moderator

If you qualify for USAA (veteran, family of veteran, etc) they will finance older motorhomes. Not sure of the cut off but at some point it changes from 100% of NADA to 80% NADA and the length of the term changes ie 8 years vs 12. I might have some details wrong since I am going off of memory and do not want to model a loan to check.


Mike

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