Best financing rate for new motorhome purchase

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hugh37

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Joined
Jul 20, 2006
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32
I'd appreciate feedback SAP as to best recent financing rate anyone's gotten. Best I've found yet is 6.785 fixed for 20 yrs in amount of $100,000.  Trust someone can top that.  Thanks, in advance, for your input...
 

Gary RV_Wizard

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Feb 2, 2005
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At our Silver Springs FL home
Just paid that same rate myself a couple months ago. Best I could do at the time. You might do a bit better on a much larger loan.

RV rates have gone up in the past year or so, though I just heard that home mortgage rates are about to fall again, due to a soft market. Maybe the extra cash will spill over to the RV market???

You can do better with  a variable rate, if you accept the risks.  You can generally re-finance after one year if you want.
 

irvsiegel

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Joined
Apr 27, 2006
Posts
138
Location
Benicia, CA
RV Roamer said:
Just paid that same rate myself a couple months ago. Best I could do at the time. You might do a bit better on a much larger loan.

RV rates have gone up in the past year or so, though I just heard that home mortgage rates are about to fall again, due to a soft market. Maybe the extra cash will spill over to the RV market???

You can do better with  a variable rate, if you accept the risks.  You can generally re-finance after one year if you want.

  The current treasury index rate for the 10 year treasury bill is 47.84.  That's higher than it was at the end of November, when it was 44.04.  Unless it drops below 40, I don't see mortgage interest rates falling very far.  In 2003 it was 31.  If it gets that low again, mortgage rates will tumble for sure.

  Two months ago I paid 6.99% for a twenty year loan of about 80,000 on our new Class A.  That was with Wachovia.  Their rates were the best that I could find at the time.

Irv (retired mortgage loan broker)
 

hleap

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Joined
Apr 18, 2005
Posts
160
I just ordered an Endeavor a month ago and was guaranteed a rate of 6.75% over 20 years. According to the dealerships finance person the banks have coupons for .25% discounts which they give out around the time of the RV shows. Also, it seems you can get better interest rates on loans of $150,000 or more.

Good Luck!
 

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