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Old 06-24-2020, 10:21 AM   #1
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RV Finance Rates

We're are some of the best places to check for financing 50000 to 75000 . With both credit scores above 800. . Was told by dealer 6.99 % seems high from what I see on the internet
Thx .
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Old 06-24-2020, 10:37 AM   #2
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Check with your bank or local credit unions.

That's not a bad rate, my two credit unions are in the 8-9% range.
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Old 06-24-2020, 10:38 AM   #3
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Do you have any credit unions near you that you can go to? RV's can be classified as second home but I think you'll still pay a higher interest rate on them.
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Old 06-24-2020, 10:41 AM   #4
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Yes
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Old 06-24-2020, 01:53 PM   #5
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Alliant Credit Union is between 4.25% and 5.25% depending on the loan term:

https://www.alliantcreditunion.org/b...-vehicle-loans

USAA Bank is 5.75%

https://www.usaa.com/inet/wc/bank_loan_rv_main
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Old 06-24-2020, 03:34 PM   #6
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I would suspect the rates are highly dependent on down payment.
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Old 06-24-2020, 04:15 PM   #7
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Try Bank of the West. Been real good for me.
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Old 06-27-2020, 05:48 AM   #8
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Purchased last month. Best rate I could find was 4.99% with 10% from Bank of America, via application filed with dealer.
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Old 06-27-2020, 08:03 AM   #9
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Another place to try. They advertise low RV rates. https://www.sefinancial.com/
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Old 06-29-2020, 11:27 AM   #10
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My credit union rate for RVs, both new and used, starts at 5.24%.
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Old 06-30-2020, 07:29 PM   #11
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I just refinanced my F250 which was nearly paid off and paid cash for my Spyder. Under 3% rate on auto loans...
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Old 07-01-2020, 04:25 PM   #12
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We just refinanced with Bank of the West. Best rates we could find and they will go 20 years if you need to.
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Old 07-01-2020, 04:37 PM   #13
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Bank rates for RVs

I just got 3.99% from USBank for our motorhome and both of us had into the 800s credit ratings.
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Old 07-01-2020, 04:40 PM   #14
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Loan Interest Rates

I have always found the best rates at credit unions, although Iíve heard good stuff about USAA if youíre a vet.
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Old 07-01-2020, 04:41 PM   #15
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That’s great!!
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Old 07-01-2020, 05:23 PM   #16
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Get your best deal with the dealer as they may give you a lower "purchase price" if you finance through them. Go ahead and do it as long as there isn't a prepayment penalty (which I'm not certain those are even common anymore with this type of loan). Then refinance with your best rate. We are in the 800 club ourselves with credit scores and Bank of the West beat our credit union by .25%. I was told by our credit union that if we refinance within 90 days of purchase, the dealer has to return their kickback. Since I had an issue with the dealer after I bought, I had no problem refinancing within that 90 day window. Good luck!

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Old 07-01-2020, 05:36 PM   #17
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We recently got 4.75% @10 years from M&T. 6.99% is way out of line.
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Old 07-01-2020, 06:06 PM   #18
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First, avoid financing a motorhome if at all possible. If you decide to, I would take out a home equity line of credit on your primary residence (HELOC) which can be used for any reason, not just home improvements or repairs. The interest also qualifies as tax deductible mortgage interest. You may be able to then negotiate a better "cash" price. Rates can vary from 2.65% to 7% so shop around. You can also take a higher amount HELOC to handle all the additional expense in outfitting the new rig.

https://www.bankrate.com/home-equity...st-heloc-rate/
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Old 07-01-2020, 06:59 PM   #19
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To the OP,


We just got a 4.30 APR loan for our new RV through Bank of America. We do have excellent credit, just like your score indicates.


You do realize that the dealer makes money on your loan if you let them arrange the financing, they make even more money if they don't give you the best rate they could offer you.
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Old 07-02-2020, 07:18 AM   #20
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Excel Credit Longwood FL, Toll Free: (800) 337-7774 Option 1
Florida: (407) 862-2225 they specialize in large yacht, airplane and RV financing. They got me a 4.24 APR three years ago on a used class A. They are a first class operation.
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