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RV financing

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Thanks for the info. I know it's credit and vehicle dependent but what are your average rates and terms? No sales tax in Oregon and we don't use title companies for purchases like this.
Thanks for the info. I know it's credit and vehicle dependent but what are your average rates and terms? No sales tax in Oregon and we don't use title companies for purchases like this.
This is very helpful information, thank you. Does Jireh do preapprovals?
 
This is very helpful information, thank you. Does Jireh do preapprovals?
Nothing really formal like in the mortgage business. Any approval a lender gives does need a unit tied to it. Now that unit may change but value VS price is a consideration in the approval process. We often look at bureaus and talk about options. There are several things in a credit application and bureau that give us a good picture of what would work for each buyer. We can get close on a ball park price area to shop for and what loan amounts would fit your history.
It's not an "official pre-approval" but we can get very close and help make a plan.
Thank you,
Ken
 
Alliant has great rates but unfortunately restrictive on where you can buy the RV from:


RVs purchased through a broker or on consignment, Truck Campers, Prevost Buses, Tow Vehicles, Custom RVs, Tiny Homes, and Cargo Trailers CANNOT be financed.
  • RVs must be 2007 models or newer.
  • Alliant does not offer loans for RVs that have a mileage of more than 75,000 miles.
  • Approvals are for Licensed RV dealership purchases only (no private party sales.)
  • Terms up to 240 months are available for RVs based on the loan amount and collateral age.
  • Rates for RVs older than 5 years will be 0.5% higher than the standard qualifying rate.
  • The RV needs to be titled in the name of a person and not an LLC.
 
It's nearing time for us to retire old faithful. We'd like to research financing options but I'm hitting a lot of dead ends. My go to credit union has horrible rates. Light Stream has great rates but won't loan on private party RV's. Other places have year or mileage restrictions or only short term loans. We have excellent credit

Who have you had great luck with financing used RV's? Looking at RV's in the $70-100k range, 2006 and newer and less than 60k miles.
What interest rates do you consider to be "horrible"?
 
What interest rates do you consider to be "horrible"?
I think I am mixed up with who is saying what? Sorry but I need help here. Is it DanTown2448 or LivinRvin who is looking for some help? Yes we work with used RV loans. We have lenders for different appetites' of buyers as well. If its easier, my you can send a private message or call anytime. My cell is (517) 930-2721 if that works better.
Thank you,
Ken
 
Yes, its me. I have several lenders lined up but the terms are limited to 84 months (for 2019) @ 5.5% Interest rate. I was looking for a ten year loan vs 7 Year. Am I wishful thinking?
Thanks
Danny
 
Yes, its me. I have several lenders lined up but the terms are limited to 84 months (for 2019) @ 5.5% Interest rate. I was looking for a ten year loan vs 7 Year. Am I wishful thinking?
Thanks
Danny
Terms are generally based on loan amount, not model year. Rates are based on strength of buyer. Generally we can find more term than anyone needs. The tough part of shopping around is most lenders do have some sort of RV loan program. By by the time you find out it's not so good, you are already pulled and time has passed. We only work with lenders and CUs that are IN THE BUSINESS. I see you have (2019) in your note. Is that the model year you are buying? Should be no difference between new and used rates if that's the year.
We are ready when you are.
Ken
 
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