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01-23-2018, 03:34 PM
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#1
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Montana Fan
Join Date: Jan 2018
Location: Manahawkin
Posts: 274
M.O.C. #21100
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RV Financing Question
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
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01-23-2018, 03:43 PM
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#2
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Site Team
Join Date: Sep 2017
Location: Oro Valley
Posts: 3,932
M.O.C. #20477
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Would shop around to compare - there are lots of sources for financing. Check your bank or cu.
__________________
Zack and Donna plus Millie and Ranger
2018 3160RL
"Life is too short to stay indoors, enjoy the ride!"
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01-23-2018, 03:51 PM
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#3
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Site Team
Join Date: Jun 2011
Location: Wilsey
Posts: 18,799
M.O.C. #11455
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We used a bank we did business with and got a rate will below what the dealer was quoting.
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01-23-2018, 04:12 PM
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#4
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Montana Master
Join Date: Jul 2010
Location: Lake Havasu City AZ.
Posts: 1,811
M.O.C. #10552
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I never take the dealer rate. Like car dealerships they get a kick back from the bank.
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01-23-2018, 04:20 PM
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#5
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Montana Master
Join Date: Mar 2017
Location: Winchester
Posts: 900
M.O.C. #19514
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Usually the cheapest rate you can get is on a secured credit line at the bank.
__________________
2017 High Country 305RL
2015 Ford F-250 Super Duty
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01-23-2018, 04:37 PM
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#6
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Montana Fan
Join Date: Jan 2018
Location: Manahawkin
Posts: 274
M.O.C. #21100
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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
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01-23-2018, 04:38 PM
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#7
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Montana Master
Join Date: Jan 2018
Location: Thornville
Posts: 546
M.O.C. #21110
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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.
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01-23-2018, 05:08 PM
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#8
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Site Team
Join Date: Sep 2017
Location: Oro Valley
Posts: 3,932
M.O.C. #20477
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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.
__________________
Zack and Donna plus Millie and Ranger
2018 3160RL
"Life is too short to stay indoors, enjoy the ride!"
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01-23-2018, 05:36 PM
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#9
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Seasoned Camper
Join Date: Nov 2014
Location: Dover
Posts: 75
M.O.C. #15866
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I had a lower bank rate. CW matched it
__________________
2014 High Country 318RE
2012 F250 6.7 long bed with B&W Hitch
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01-23-2018, 05:36 PM
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#10
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Montana Fan
Join Date: Jan 2018
Location: Manahawkin
Posts: 274
M.O.C. #21100
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Quote:
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.
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That is gone with the new Tax laws until 2028 until they revise it again as some else stated it is not an option
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01-23-2018, 06:09 PM
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#11
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Established Member
Join Date: Oct 2017
Location: Pueblo
Posts: 37
M.O.C. #20707
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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.
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Bill & Andrea
Pueblo, Colorado
2018 340BH - 2018 RAM 3500 CCSB 6.7 Cummins
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01-23-2018, 08:01 PM
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#12
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Montana Fan
Join Date: Jan 2018
Location: Manahawkin
Posts: 274
M.O.C. #21100
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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
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01-23-2018, 08:18 PM
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#13
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Established Member
Join Date: Apr 2017
Location: Concord
Posts: 49
M.O.C. #19636
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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.
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01-23-2018, 10:36 PM
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#14
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Montana Master
Join Date: Apr 2006
Location: Mesa az
Posts: 2,953
M.O.C. #5651
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I financed with dealer in 2014 and pay around 4 1/2%. I don't like it either!!
__________________
Tom and Gail
2013 Mountaineer 362
2012 Silverado 2500
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01-24-2018, 06:17 AM
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#15
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Montana Master
Join Date: May 2011
Location: Hixson
Posts: 3,436
M.O.C. #11397
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CW inflates EVERYTHING! Would never buy from them but if I did I sure wouldn't finance through them.
__________________
2018.5 Montana 3791RD
Full Timers 9/1/2010 through 1/16/2020.
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01-24-2018, 07:37 AM
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#16
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Montana Master
Join Date: Sep 2014
Location: Full Timer In Naples, Florida
Posts: 1,049
M.O.C. #15731
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Rates right now are around 4.25%. Shop around but the length of time might have a cap, some at 10 years and up.
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01-24-2018, 08:58 AM
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#17
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Montana Master
Join Date: Mar 2012
Location: Davison
Posts: 786
M.O.C. #12331
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Our Credit Union current rate:
Current RV, Boat and Motorcycle Loan Rate SpecialsUp to 72 months2.49% APR*73-144 months3.24% APR*
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01-24-2018, 09:45 AM
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#18
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Montana Master
Join Date: Oct 2006
Location: McKinney
Posts: 7,167
M.O.C. #6433
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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.
__________________
Bill & Patricia
Riley, our Golden
2007 3075RL (recently sold, currently without)
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01-24-2018, 10:14 AM
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#19
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Montana Fan
Join Date: Dec 2017
Location: Sharpsburg
Posts: 202
M.O.C. #20974
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I wouldn’t give camping world 1 cent
__________________
2023 GMC 2500 HD AT4
2018 High Country 340BH
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01-24-2018, 10:18 AM
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#20
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Montana Master
Join Date: Jul 2010
Location: Lake Havasu City AZ.
Posts: 1,811
M.O.C. #10552
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Yep BB_TX that's what I do also.
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