Nov-06-2018 06:18 PM
Nov-10-2018 04:14 AM
huntdooly wrote:
Yes, some dealers have said that they give a discount if we finance with them. We have not decided for certain on that private party sale, so have not applied for a loan yet. But, I'm sure that if it's meant to be, a way will be made available to us.
I thought that with credit unions, you had to have been a member for a while. I will inquire into that as well. And the home equity loan. But I was told that an RV loan interest could be tax deductible as a second home, so I felt it might be an advantage.
Nov-09-2018 08:20 PM
Nov-09-2018 07:09 PM
Nov-09-2018 10:17 AM
2012Coleman wrote:
Wow - talk about reading comprehension - Not sure how you twist what was in the original post to the OP having issues getting credit. He stated that the few online lenders they contacted needed to have a comparable purchase in the past 4 years. I doubt their credit had even been checked at that point. So in your ultimate wisdom, attacked him regarding his credit score.
huntdooly wrote:So go to the credit union, open up a savings account, deposit 500 bucks, and apply for a loan. With your credit scorein the mid 800's like mine and a few other posters on this thread, you will have no problem getting a loan. Or as stated multiple times, use a home equity loan
Hi, everyone! I haven't posted, because I was not notified of the replies, so I wasn't aware that I had any! My apologies! Thank you for your replies!
To clear up any confusion, we have NOT been turned down by anyone, as we have not applied for a loan as of yet. I obtained the info that I shared when I inquired of their requirements up front, prior to applying for a loan.
Our local bank does not give out RV loans, and the credit union...we have to be a member of, and we are not. So, yes, it is much simpler to go through a dealer, but every rig that we liked happened to be by private party, so I called around, trying to find one that will lend to those without recent comparable purchase.
I will inquire with the lenders suggested, thank you, for your help!
Nov-09-2018 10:13 AM
huntdooly wrote:So why on earth don't you use a home equity loan? It will be a much better rate than any loan on a used RV (unless you buy from a dealer where "points" will be built into the price). You can pay it off at any time and, since I guess your home is worth much more than the RVs you are looking at, you could put down as little or as much as you want.
Our local bank does not give out RV loans, and the credit union...we have to be a member of, and we are not.
Nov-09-2018 09:18 AM
Nov-09-2018 04:47 AM
Nov-09-2018 03:06 AM
westernrvparkowner wrote:Wow - talk about reading comprehension - Not sure how you twist what was in the original post to the OP having issues getting credit. He stated that the few online lenders they contacted needed to have a comparable purchase in the past 4 years. I doubt their credit had even been checked at that point. So in your ultimate wisdom, attacked him regarding his credit score.2012Coleman wrote:The guy had been turned down for a loan by multiple lenders. Apparently there is an issue with the buyer's credit worthiness since the OP wasn't saying the lenders they contacted simply did not finance RVs, but rather was saying that they had a problem with some aspect of qualifying for credit approval.magicbus wrote:Either that or maybe just insensitive to the warm welcome WRVPO gave him - imagine being told you were full of baloney regarding your personal financial information by some internet poster claiming to be a banker 10 years ago.4x4ord wrote:Makes the most sense and has been suggested 3 time before but the OP doesn't seem interested.
Why not purchase the thing using a HELOC?
Dave
Nov-08-2018 11:53 PM
Wire Man wrote:Hondavalk wrote:Ralph Cramden wrote:Executive wrote:
....I believe the best answers are Bank of the West for an RV loan
It might be the best answer except the OP resides in SC and Bank of the West will only consider lending for RVs in 19 states, which are all in the west.
.
I'm in Ohio and they financed me.
I’m in Ohio and they financed our last coach also.
Nov-08-2018 03:14 PM
Nov-08-2018 03:10 PM
Hondavalk wrote:Ralph Cramden wrote:Executive wrote:
....I believe the best answers are Bank of the West for an RV loan
It might be the best answer except the OP resides in SC and Bank of the West will only consider lending for RVs in 19 states, which are all in the west.
.
I'm in Ohio and they financed me.
Nov-08-2018 03:00 PM
Nov-08-2018 02:44 PM
Wills6.4 Hemi wrote:If you are saying I said I would "bet the ranch", you are the one who needs to read the entire post. The OP also stated he was turned down for that purchase because THEY did not have a comparable dollar value finance transaction in their recent credit history. No where did the OP mention needing comparable private sales transactions. They say "Reading is Fundamental". Apparently that isn't the case for everyone.discovery4us wrote:you misunderstood, I was not referring to the op but wrvpo. Read the entire post.
Where did the OP say he had been turned down? Also OP did not bet the ranch, that was a subsequent poster. OP simple stated that he had good credit and could be financed through a dealership but online lenders wanted proof of comparable priced sales for a private party purchase which the OP couldn't provide and wanted our opinions on alternate methods financing.
Nov-08-2018 02:15 PM
discovery4us wrote:you misunderstood, I was not referring to the op but wrvpo. Read the entire post.
Where did the OP say he had been turned down? Also OP did not bet the ranch, that was a subsequent poster. OP simple stated that he had good credit and could be financed through a dealership but online lenders wanted proof of comparable priced sales for a private party purchase which the OP couldn't provide and wanted our opinions on alternate methods financing.