Question Anyone With An RV Loan Considering A Refinance?

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Newmar
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Our original RV loan is just over 5%. We are looking at reducing the term and rate with a refinance. Alliant looked like we could take it down slightly but they want to add back a full 1% for a refinance. Good Sams, who farms most of their loans out, was almost a full percent cheaper but I'm not sure how big of a headache it would be trying to go through them.

Anyone seeing RV rates in the low 4% or lower range? If so, where?
 
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Orinda, CA
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Newmar
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Ventana 4002
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2015 Jeep Trailhawk
I have 4.25% and I can’t find any lender that will beat that.

in the spirit of full disclosure, I should also add I work for a large bank and RV loans are not ones we run towards especially with RV depreciation which makes it very difficult to forecast residual RV values we have to carry on the books. We do them but we “price in” that risk.
 
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Joined
Nov 15, 2019
Messages
239
Location
SW Florida
RV Year
2017
RV Make
Newmar
RV Model
Ventana 4369
RV Length
43
TOW/TOAD
24' Enclosed (Mini & Harley)
Thanks for information. Looks like I may be able to do it at Essex for around 4.6%. Not sure if I want to do it for just less than 1 point. Not sure the rates will get any cheaper in the coming months though either.
 
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Prince William, VA
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2019 Jeep Cherokee Trailhawk
Thanks for information. Looks like I may be able to do it at Essex for around 4.6%. Not sure if I want to do it for just less than 1 point. Not sure the rates will get any cheaper in the coming months though either.
Same. Would be nice to get an offer for 3-4%
 
Joined
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Messages
239
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SW Florida
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Newmar
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Ventana 4369
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24' Enclosed (Mini & Harley)
We decided this evening just to take the darn thing off autopay. Going back to the good old fashion check mailing for now so we can drop some extra chunks in with the regular payment. If I can't refi for at least a point less and shorten my term this is probably the only way to go.
 
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Glen Allen Virginia
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Since our home is almost paid off we are rolling the RV into our home. That will give us a free and clear title on the coach, a lower monthly payment and an interest rate of 2.8% on a 10 year note from Third Federal Savings and Loan.
 
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Prince William, VA
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We decided this evening just to take the darn thing off autopay. Going back to the good old fashion check mailing for now so we can drop some extra chunks in with the regular payment. If I can't refi for at least a point less and shorten my term this is probably the only way to go.
That’s a good idea. I’ve doubled up on my payments since starting but I didn’t take it off autopay. I just set up a recurring bill pay option at my bank to send an extra payment once a month on the first. This way it’s all automagic and I don’t have to remember - a trait I am not known for.
 
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Midlothian, VA
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2017 Chevy Colorado
All of our rates are probably very low in the big picture. IMHO put your extra cash into investments and not paying off a loan with very low interest rates.
 
Joined
Nov 17, 2019
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776
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Prince William, VA
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Newmar
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Ventana 4326
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TOW/TOAD
2019 Jeep Cherokee Trailhawk
All of our rates are probably very low in the big picture. IMHO put your extra cash into investments and not paying off a loan with very low interest rates.
True to an extent. Debt is the biggest killer of wealth building.
 
Joined
Nov 15, 2019
Messages
239
Location
SW Florida
RV Year
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Newmar
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Ventana 4369
RV Length
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TOW/TOAD
24' Enclosed (Mini & Harley)
If my RV loan was around 3.25 or 3.5% Neal I would lean toward just making regular payment and investing difference. However, at over 5% plus thinking we will be selling in another couple of years I feel more secure putting more on principle right now. I know the market has been really good (yesterday was a great example) I still can't help but feel a little worried about it.
 
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