Downpayment on Motorhome

[travellin us]

I am in the process of buying a used diesel pusher. I have a trade in. I am trading in the RV, have a very large downpayment and financing the leftover. The dealer wants me to give him a check for the entire downpayment NOW prior to financing. I thought normally it was just a $1000 or so not the entire amount. He said the bank wants the check so they know where the money is coming from. I have never heard of this before. I am very leary of giving him such a big check prior to closing. Has anyone heard of this before? Thanks

 

[Triple E]

Re: Downpayment on Motorhome

Hello MBB and welcome to the best RV forum on the web.
I would have the bank call me in for any information they may want. I have never given more then $500.00 to hold a RV while waiting on the financing. I would only give the dealer your down payment at the time of the closing. JMHO Good luck and enjoy your new pusher.

:8ball:

 

[TexasClodhopper]

Re: Downpayment on Motorhome

Go to the dealer and hand the dealer the $500 check. See if they take it or leave it. You don't have to mess with screwy dealers. Use you two feet and find another dealer if that one doesn't seem scrupulous to you.

 

[vanole]

Re: Downpayment on Motorhome

I agree with both above posters. Give the smallest down payment you can. I've bought two M/H's and first time downpayment was $500 and second go around it was $1000. Pay anymore than that you lose any leverage you may have at delivery to fix things right that are obviously wrong. If dealer is insistent I'd vote with my feet (read run).

V/R
Jeff
GO NAVY
Fly Navy

 

[C Nash]

Re: Downpayment on Motorhome

I gave the salesman 1 dollar to put sold on the unit until I got the $$$$$. Course this was the 3rd unit we had bought from them.

 

[hamdave]

RE: Downpayment on Motorhome



Because of what the dealer wants you to do, I would just go look for another unit somewhere else? I would not trust that dealer PERIOD !!



JMHO

cheers

 

[H2H1]

Re: Downpayment on Motorhome

do as hamdave has suggested,,,,, RUN and run like heck. Or as other has stated give them very little. You don't want give them much as a down payment for reason, at lease not till you are ready to sign on the line. His bank does not care where or who is buying the MH. Has he offer to give it all back to you if you change your mind or if the bank for some reason does not finance it. He may be trying to steal your money.