HUGE UPDATE: Used RV loans just got more complicated

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[@HighTones]

I'm a used RV dealer and My local banks only use NADA retail as of today... NO Add ons. Its JD Power Retail only up to a 10 year old unit.. Some used to go 10% or 20% over retail but not any longer.... I've lost more deals over Interest Rates than anything. Most people can't afford 8.50% on a 10 year term on a $30K unit.. Thanks for the update..

[@stv111play]

thanks! Getting ready for first used RV purchase, regarding loans you have given me wealth of info to think about, 70K, Plan is 25K down to leverage the interest rate on remainder., rig over 5yrs old class B. 10 yr loan. but suspect and hope below 8.0%.alll the other boxes you discuss are checked off. for me. permeant address, debit to credit ratio, 800,s credit score. thanks again bud sharing your knowledge straight up

[@HBRVLifestyle]

You are welcome. Enjoy the class B motorhome when you get it.

[@patrickschultz4126]

Thanks for the information

[@HBRVLifestyle]

You are welcome

[@donniecole3472]

I bought a rig wholesale was 76. I paid 80 I put down 30. Wells Fargo 15 year loan 7.99 that was February 2024. 10 year old motorhome.

[@HBRVLifestyle]

Great job

[@jocelynb8935]

Very interesting info. I’m looking at buying a majestic 23A for about $30-40k….it’ll be about 5/6 yrs old. My credit 830 and I can buy it cash but I wanna finance to get a better OTD price….then pay off the loan in 6 months or less. My plan is to wait to Sep….more cuz of life events I can’t really do it this summer. It looks like inflation is being stubborn so I’m not sure if the feds are gonna be dropping rates 3 times this year so I’m hoping prices will continue to drop. Do u think my strategy to negotiate to finance to get a better OTD is a good move or should I just negotiate with cash? Mahalo for any advice…..

[@HBRVLifestyle]

Majestic 23a motorhomes are rentals. I like your strategy, except for you have to carry the loan at least one year for the dealership to get the kickback. Since you’re buying used, it really doesn’t matter when you buy as long as you’re happy with the motorhome.