LMTurner74
Member
When you went in to purchase your RV, did you walk in pre-approved (not pre-qualified) or did you depend on the manufacturer/dealer to arrange financing?. Who did you end up with and are you happy with them?
Gary RVer Emeritus said:I always shopped around for credit ahead of time, just like for the RV itself. The reason to to know what is available, in this case interest rates, terms, etc. so I can evaluate the deal being offered to me. I end up getting financing through the dealer, because they have always met or bettered whatever rate I challenged them with.
Pre-approval or pre-qualify can be useful, especially if you might be pushing the limits of your credit. For sure, pre-approval gives you a guaranteed loan amount, but it's possible that you can get a larger loan, or a better rate, by challenging the dealer to find other financing. Getting pre-approved doesn't mean you got the best rate or terms, so use all the shopping tools at your disposal!
The dealer usually makes money based on the rate they give you not the rate you can qualify for!