RV Financing? - Page 2 - Ford Powerstroke Diesel Forum
Camping/RV's Discuss camping, RV equipment and locations.

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post #11 of 13 Old 07-09-2019, 07:15 AM Thread Starter
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I should have mentioned we are looking at used, probably private party sale.
Credit Unions have good rates, but from what I have seen max out at 84 months. Even so, advertized rates are on par with GS and you have to open an account with direct deposit (for their 'lowest' rate. I am not inclined to go through opening an account with another bank. Maybe it'll pay to give one a call.

Almost every loan through a bank requires a $5-50 deposit into a savings or checking account, just part of their terms etc. Honestly if you are worried about a ding on credit for the loan/getting a new account I wouldn't fret. I had to do a $35 deposit to finance a portion of the side by side we got but I could always do a monthly deposit for a rainy day fund or just close the account when we pay it off.

Used will be more difficult though and each bank/credit union has their limits in age and what not. It may be little higher % wise though Good Sam but they have been in the rv business a long while etc.
A couple bucks I would. Lol. I'm not that lazy. My wife may disagree. Penfed, Apple and NFCU all want $1000 minimum auto deposit per month.
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post #12 of 13 Old 07-09-2019, 07:32 AM
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A couple bucks I would. Lol. I'm not that lazy. My wife may disagree. Penfed, Apple and NFCU all want $1000 minimum auto deposit per month.
You may want to try and speak with a different rep from Penfed. I have used them since 2011 and had the same $25 in the checking account since... I've financed newer dodge diesels, Fords, and Subaru's all used. It may be because of the amount/RV requirements but if its been a while I would just make a list of the credit unions in the area and call/get a round about loan term.

payment, term, percentage, total cost etc and make a list for each bank then call the one that is either cheapest of had better options to make up for any increase in percentage. Took me maybe 2 hours to call bunch of banks and narrow it down. but when you save thousands over a loan term with good customer service that little two hours will be well worth it.

For example my main bank does not has the best rates for used autos or toys so I use penfed and a local credit union. Thankfully all we have financed now is the side by side etc.

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post #13 of 13 Old 07-09-2019, 08:53 AM Thread Starter
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make a list for each bank then call the one that is either cheapest of had better options to make up for any increase in percentage. Took me maybe 2 hours to call bunch of banks and narrow it down. but when you save thousands over a loan term with good customer service that little two hours will be well worth it.
Solid advice on the list. We will definitely use the phone over the web to make a final decision. This whole private sale loan is new to us. The only other one we did was for the kids car, but that was financed for 1 year @$800/mo. Only did that so she could be on a car loan for the credit boost. Could have paid cash though. Cars and trucks have been all from the dealer because they fall all over to sell us a car and use their lender credits to get our rate below average.
Thanks for the tips.
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