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Never never never think the dealer can give you the best rate. Most times they won't. Shop around and do research. Find a better rate and tell the dealer you found your own financing. Magically the dealer will be able to beat that rate. Finance guys are shady as hell.
This is not true. Only a small percentage of RV Finance managers are shady. The majority are not. Dealerships can find you a better rate most of the time. Now in 2016 and 2019, Credit Unions had better interest rates then the banks. It was not even close. Logix at the time was a 5.24% while Bank of America for great credit was at 6.49%. However the dealership I worked for partnered with 12 local credit unions to make sure we serviced the best financing possible
Thank you for making this video. My question is, how long minimum work history or income history does the banks or credit unions require in order to qualify some one for RV loan?
Depends. If you have good credit, they want to see 5-7 years of Credit History. At least 26 payments on 1-2 car loans. If your credit isn’t so good? Then generally they want someone to have 4-5 years job history
@@HBRVLifestyle it’s for my wife. We always file our taxes jointly but she hasn’t worked for a few years because of pregnancy. She is about to start a new job next week and I was thinking if she can apply for Rv loan after 6 month of work in her new job. Her pay will be around $6000 per month.
Depends. Right now rates can go up next week. Best thing to do is lock in a loan now. Whether it’s through the dealer or on your own. Now in 2-3 years rates will go down so make sure you refinance to that lower rate
Yes, I know it depends on the year and it also depends if you’re self-employed or a paycheck employee. If you go to my finance and RV loan, I have a bunch of videos on this.
Would be very rare, and it would need to be personally guaranteed. But some credit unions will look at. Also you can do an unsecured loan in your business name
@@HBRVLifestyle So I’m imaging the business would need to be really well established with good revenue and what not. Have you facilitated any of these deals yourself? What did the bank ask for? Surely you’ve seen them denied, what was the reason? And yes an unsecured loan would be good. I’m about to start opening many many accounts with fintech and banks. We will see.
@@scotttaylor4219 last Time I got a business funded on a RV loan was through Alliant Credit Union out of Chicago. That was 2015. They get declined a lot because they look at RVs as toys. They want toys or wants to be personally financed
My x got an RV from Crestview and $30k with a total of $81000 for 2018 keystone Laredo Rediculous. We were broke up at the time still are I'm trying to help her so she don't ruin her credit She went down to purchase this by herself with no help and they took advantage of her The RV has quite a few problems with it believe me certainly not worth no $80,000 fucking dollars and I'm a little pissed off about it What can she do other than make it a lawyer or two or 10
Texas is the Wild West for unfortunately. That’s a tough one.. send me a message through one of my social media platforms privately like a DM and I’ll see if I can get some more information from some contacts I have in Texas
Thanks for the breakdown. One of my goals in life is to get an RV and drive across the USA. I work from home so I know I can do this.
I'm the same, And, I love to drive, I was a trucker for over ten years!
You can drive across in 3 days
I've been looking for information on rv loans. Thank you great information.
You are welcome
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Subscribed. Thats for the info!
You are welcome. Thank you for the support
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Never never never think the dealer can give you the best rate. Most times they won't. Shop around and do research. Find a better rate and tell the dealer you found your own financing. Magically the dealer will be able to beat that rate. Finance guys are shady as hell.
This is not true. Only a small percentage of RV Finance managers are shady. The majority are not. Dealerships can find you a better rate most of the time. Now in 2016 and 2019, Credit Unions had better interest rates then the banks. It was not even close. Logix at the time was a 5.24% while Bank of America for great credit was at 6.49%. However the dealership I worked for partnered with 12 local credit unions to make sure we serviced the best financing possible
You have been so helpful! Would love to see a video about refinancing if you have any info on that.
Coming soon! I have had Covid the last 5 days, So I will be working on it next week and releasing it. Thank you for the support
@@HBRVLifestyle Oh no! Take your time, get well first! Will still be catching up on your other videos. Thanks again! 😊
@@AllyA3191 You are very much welcome
Great info, appreciate it!
You are very much welcome
Great video. Thanks
✊🏿
Thank you
Very informative. We are working on financing now this really helps a lot. Thanks for making the video.
If you need any further help let me know
Where's the video for alternate financing means?
Thank you for making this video. My question is, how long minimum work history or income history does the banks or credit unions require in order to qualify some one for RV loan?
Depends. If you have good credit, they want to see 5-7 years of Credit History. At least 26 payments on 1-2 car loans. If your credit isn’t so good? Then generally they want someone to have 4-5 years job history
@@HBRVLifestyle it’s for my wife. We always file our taxes jointly but she hasn’t worked for a few years because of pregnancy. She is about to start a new job next week and I was thinking if she can apply for Rv loan after 6 month of work in her new job. Her pay will be around $6000 per month.
Also she has excellent credit, and never had car or Rv loan in the past.
@@DailyInspirations101 if she has good credit, then yes she can.
@@DailyInspirations101 it will be tough. Do you have her on a mortgage?
We are in the process of financing. Does end of the month or quarter affect the interest rate?
Depends. Right now rates can go up next week. Best thing to do is lock in a loan now. Whether it’s through the dealer or on your own. Now in 2-3 years rates will go down so make sure you refinance to that lower rate
The camper used 10k im putting 4k can I get financed I have bad credit? How can I one
Yes, I know it depends on the year and it also depends if you’re self-employed or a paycheck employee. If you go to my finance and RV loan, I have a bunch of videos on this.
Hey man I was wondering if you know how a business could get financing for one? I want a rural office
Would be very rare, and it would need to be personally guaranteed. But some credit unions will look at. Also you can do an unsecured loan in your business name
@@HBRVLifestyle So I’m imaging the business would need to be really well established with good revenue and what not. Have you facilitated any of these deals yourself? What did the bank ask for? Surely you’ve seen them denied, what was the reason? And yes an unsecured loan would be good. I’m about to start opening many many accounts with fintech and banks. We will see.
@@scotttaylor4219 last Time I got a business funded on a RV loan was through Alliant Credit Union out of Chicago. That was 2015. They get declined a lot because they look at RVs as toys. They want toys or wants to be personally financed
They approve me for tracer 2024 40k$ with 0 down 11 % rate
Awesome
@@HBRVLifestyle do you think that rate sucks for a first time buyer ??
. .
Rip off
Sorry you feel like that
@@HBRVLifestyle hey its true though.
@@begrateful8934 ok
Ally financial is a dirty business
My x got an RV from Crestview and $30k with a total of $81000 for 2018 keystone Laredo Rediculous. We were broke up at the time still are I'm trying to help her so she don't ruin her credit She went down to purchase this by herself with no help and they took advantage of her The RV has quite a few problems with it believe me certainly not worth no $80,000 fucking dollars and I'm a little pissed off about it What can she do other than make it a lawyer or two or 10
Texas is the Wild West for unfortunately. That’s a tough one.. send me a message through one of my social media platforms privately like a DM and I’ll see if I can get some more information from some contacts I have in Texas