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06-10-2009, 02:21 PM
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#1
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Montana Master
Join Date: Sep 2006
Location: Casa Grande
Posts: 5,369
M.O.C. #6333
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Financing by Thor
Just read this from a Passport America Blast:
Associated Press
Thor Industries offers financing for RV customers
Associated Press, 06.02.09, 02:33 PM EDT
Thor Industries Inc. said Tuesday that it has launched a financing program for recreational vehicle customers at its dealerships.
Thor Industries ( THO - news - people ) is the world's largest manufacturer of recreational vehicles and a major builder of commercial business. But the RV makers like Thor have been hit hard as consumers have put off sales of the discretionary vehicles during the downturn in the economy and credit crunch. Several companies in the sector have sought bankruptcy protection in recent months.
The new program, known as Thor Credit, will be available in eight states. The company said it will expand it beyond those areas in the future.
Customers can use the program to finance their purchase of new Thor RV products or any used products at its dealers.
Shares of Thor rose 84 cents, or nearly 4 percent, to $22.52 in afternoon trading Tuesday.
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06-10-2009, 02:36 PM
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#2
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Montana Master
Join Date: Sep 2003
Location: Sunshine
Posts: 1,445
M.O.C. #538
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Nothing like taking on a little more debt at this time is there?
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06-10-2009, 03:26 PM
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#3
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Montana Master
Join Date: Apr 2007
Location: South Shore
Posts: 6,009
M.O.C. #7110
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I wonder what interest rate they will charge.
__________________
2011 GMC 4X4 dually CC, 6.6 Duramax with Allison Transmission. Formally 2001 Montana,2007 3400RL Montana, presently 2018 3401RS Alpine.
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06-10-2009, 03:50 PM
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#4
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Montana Master
Join Date: Oct 2006
Location: chattanooga
Posts: 1,002
M.O.C. #6363
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Maybe they think we work in "congress"
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06-10-2009, 04:00 PM
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#5
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Montana Master
Join Date: Sep 2004
Location: Leona
Posts: 6,382
M.O.C. #2059
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That decision should help them move their products. Thor owns Keystone. I is in our best interest to have them be successful, i.e., sell what hey make.
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06-10-2009, 06:07 PM
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#6
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Montana Master
Join Date: Apr 2009
Location: Ardrossan
Posts: 729
M.O.C. #9261
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Would this not add more debt load to the average individual that likely could not afford an RV anyway? I guess as a Baby Boomer I do not understand why we would go else where to borrow/ obtain funds likely at a higher rate of interest then our own bank that we would deal with though thick and thin times. To borrow for an RV is maybe why our economy is in the toliet now. Maybe it's a gimick like, "No payments till next June"!! Simply work on a reduced purchase price to increase buyer demand.
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06-10-2009, 06:46 PM
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#7
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Montana Master
Join Date: Nov 2002
Location: Bakersfield
Posts: 5,316
M.O.C. #15
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Stiles,
I agree. It is in everyone's best interest to have this program succeed. Of course they're doing themselves a favor by helping to move more of their products. It should help get the credit moving again. Hopefully only those folks who can actually afford to purchase an RV will get approved. In today's world I would think Thor would not be out there making bad loans.
Dennis
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06-10-2009, 07:20 PM
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#8
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Montana Master
Join Date: Apr 2009
Location: Murrieta
Posts: 5,816
M.O.C. #9257
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This sounds like a 50/50 chance. I admire Thor for taking that chance, but I hope they don't pass out high risk loans. Thor is a huge holding company that owns several RV companies including the huge Keystone line.
Now we must wait and see.
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06-11-2009, 03:07 AM
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#9
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Montana Master
Join Date: Jul 2003
Location: Clearwater
Posts: 10,917
M.O.C. #420
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IF we were ready to trade and IF Thor had the best financing available we would not hesitate using them.
IF an RVer that cannot afford to buy a new RV but has that all important good credit score goes ahead and buys a new RV anyway I feel that is the RVers fault and not Thor. That new buyer MUST beware of his/her ability to repay the loan and if they can't than they shouldn't be making any deals with any financial institution be it Thor or their local bank.
Let's not be ready to blame the lending institutions for our problems. These lending institutions wouldn't loan anyone one cent if the borrower didn't request it.
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06-11-2009, 10:42 AM
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#10
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Montana Fan
Join Date: Nov 2008
Location: holland patent
Posts: 174
M.O.C. #8973
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AMEN
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