RV Financing Question

[Wicked1]

Did you ever finance yourRV and does Camping World inflate their interests rates?

I have always paid cash but I have to finance a little this time and seems they gave us a rate that seems slightly higher then what I was told we could get?

I hate having to finance it but if I want the new one I need to for 1-3 years

[AZ Traveler]

Would shop around to compare - there are lots of sources for financing. Check your bank or cu.

[DQDick]

We used a bank we did business with and got a rate will below what the dealer was quoting.

[waynemoore]

I never take the dealer rate. Like car dealerships they get a kick back from the bank.

[Loneoak]

Usually the cheapest rate you can get is on a secured credit line at the bank.

[Wicked1]

Interesting when I told them the rate was high and I was going somewhere else they came down, close to what I was quoted outside of CW and I don’t have to go back and forth, if they meet my rate I will go with them maybe

[CarWin]

Always shop around and compare rates as others have stated. Also know that I have gotten an "RV" loan prior and was able to write the interest off on taxes as it was considered a 2nd home. Best to ask an accountant for the legalities in using the RV interest as a deduction.

[AZ Traveler]

The 2nd home interested deduction may have been removed in the new tax bill. But you will have a bigger standard deduction that will have fewer folks itemizing when they file in 19.

[baybum10]

I had a lower bank rate. CW matched it

[Wicked1]

Originally Posted by CarWin

Always shop around and compare rates as others have stated. Also know that I have gotten an "RV" loan prior and was able to write the interest off on taxes as it was considered a 2nd home. Best to ask an accountant for the legalities in using the RV interest as a deduction.

That is gone with the new Tax laws until 2028 until they revise it again as some else stated it is not an option

[smokeater32]

We were quoted a rate through our dealer (quite high) and with our personal bank (significantly lower). The dealer matched our personal banks rate, and we signed away. Then, out of the blue, we received a call from the bank we signed with and they lowered our rate even more, stating the dealer omitted some info on our credit app and in return made our deal even sweeter. I know things like this are few and far between, but it just happened to work in our favor. Best advice is to shop around and see what you find.

[Wicked1]

What is considered a good rate for an RV? I have never financed one of these before and I read on Goodsam that they offer between 4% and up depending on credit. I have good credit but someone I know didn’t and they got 9.25 %

I was quoted way less but I don’t know what a good rate is

[Kenw]

I financed last year with Good Sam and got 4.375/ 12 year with v good credit. At the time I was very happy with that. Good Sam went through Bank of the West and the process was very good.

[twindman]

I financed with dealer in 2014 and pay around 4 1/2%. I don't like it either!!

[WeBeFulltime]

CW inflates EVERYTHING! Would never buy from them but if I did I sure wouldn't finance through them.

[Eagleback]

Rates right now are around 4.25%. Shop around but the length of time might have a cap, some at 10 years and up.

[bethandkevin]

Our Credit Union current rate:


Current RV, Boat and Motorcycle Loan Rate SpecialsUp to 72 months2.49% APR*73-144 months3.24% APR*

[BB_TX]

As noted, shop around. And if there is no early payoff penalty and you later find a better rate, change over. When we buy a new Ford I always finance thru Ford credit and take the $1,000 rebate (or whatever the amount is at the time). Then after one month I change to whatever other institution has a better rate. So I get the $1,000 plus the lower interest rate.

[Skw774]

I wouldn’t give camping world 1 cent

[waynemoore]

Yep BB_TX that's what I do also.