Another Newmar closed

[Jireh Financial]

This Beautiful 2019 Newmar Dutch Star 4328 just moved from Michigan to Illinois. Thank you John and Mary for having us help. As always out friends at RV Dealers in Hudsonville, Michigan | DC Storage & RV Services was great to work with. We are blessed with the opportunity.
Ken

 

[redbaron]

how has the lending market changed over the past year, especially with the used market? What can one expect as far as a down payment vs interest rates?

 

[Jireh Financial]

how has the lending market changed over the past year, especially with the used market? What can one expect as far as a down payment vs interest rates?

Good afternoon.
At least rates have settled down a bit. No raises in several months and even a couple have settled down slightly. Most lenders like 10% to 20% after everything depending on the finance range. That also can vary depending on LOAN AMOUNT VS VALUE. Lenders seem much more interested in value and equity than before. The days of 100% financing and long terms are thankfully over for now (I hope).
Used values and settling down as well. The NADA (JD Power) that is used in our business updates 6 times a year so the numbers are current. Some seller still have stars in their eyes on the value. That theory does not carry over to lenders.
Let me know how we can help.
Thank you,
Ken