Reputable RV loan companies...are they out there?

[LC-12]

Having just purchased another travel trailer I was wondering about some of the "good" deals being offered by some of the finance companies that advertise on this, and other, RV web sites.

I am not sure as to how to go about checking out their reputation. Check with the BBB? References? I just don't want to get burned on a bad loan, and with all the media hype about the loan industry in general, I may be a bit gunshy!

I do know that the rates offered on these sites sure beats my local bank!!!!

Thanks in advance to all.

 

[DL Rupper]

Re: Reputable RV loan companies...are they out there?

Hey LC-12, welcome to the forum. A few years ago I re-financed my RV loan through Good Sam Club. The interest rate was lower so I knocked a year off the payments and kept the payment about the same. They were easy to deal with at the time. Don't know which company is financing their RV loans now, but I'm sure you can get info on the Good Sam Culb WEB site.

 

[LC-12]

Re: Reputable RV loan companies...are they out there?

Thanks DL! I saw where PRC was offering 4.49% this morning, but I know nothing of the company and they are located out of state.
I have no problem dealing with out of staters as we all know most of our money is probably coming from another country anyway! :laugh:
And I am not trying to call any one company to the line here! Just wondering what others have experienced and I greatly appreciate your comments regarding your dealings.
Have a good day!!!

 

[H2H1]

Re: Reputable RV loan companies...are they out there?

hello LC-12 AND WELCOME TO THE FORUM. When I bought my MH it was finance thru BANK of AMERICA AT 4.50% not a bad % rate when you think about. but I decided not to give them the extra money and went and paid it off and save the interest. AND yes my saving is down but growing as I now pay my self not a bank. As DL stated try Good Sam Club and best of luck

 

[LC-12]

Re: Reputable RV loan companies...are they out there?

Thanks H2H1.
Another reason we finance, as most of you probably already know, and do, is that I can deduct the interest off of my taxes being that it is classified as a second home. We use it up at my farm quite often and it qualifies for such a deduction. I am also wondering what the interest rate might be tomorrow since the Feds just dropped the prime interest to banks another 3/4%!!!!!!
Thanks again for your reply.

 

[hertig]

Re: Reputable RV loan companies...are they out there?

I got my loan from US Bank out of St Louis. Which was nice because there is a branch right down the street from me.