Jump to content

Welcome to the FMCA Motorhome Forums!

Create a sign-in account to gain access to all of our features. Once registered and signed in, you can create topics; post replies to existing topics; upload pictures; manage your profile; get your own private messenger; create blogs; and more. Sign up now! Already have an account? Sign in.
NEW USERS: For your login to carry over to the Forums, you must first sign in on the FMCA.com main site, log out, and then sign in again.

- - - - -

Financing Options for Sale/Purchase of Older Motorhome

Purchasing Selling Financing

  • Please log in to reply
6 replies to this topic

#1 Shields


    Advanced Member

  • Members
  • PipPipPip
  • 152 posts
  • Location:Orange County, California

Posted 11 September 2013 - 12:09 AM

We recently listed our 1997 Monaco Dynasty for sale and have an interested buyer.  The buyer says his bank won't finance a motorhome more than 13 years old (i.e. before 2000). I called the lenders who advertise in the FMCA and MotorHome magazines (Sun Trust, Essex, Good Sam).  Each indicated they would not lend against a 1997 motorhome.


The buyer is willing to put $10,000 down and is looking to finance the $30,000 remainder.  If I can help the buyer secure a loan, he's willing to purchase my coach.  Does anyone know of a lender willing to finance the purchase of a 1997 motorhome?  


Any ideas will be welcome.  Thanks so much.



  • 0
Tim and Beth Shields
40' Monaco Dynasty
Orange County, California

#2 pmarth



  • Members
  • PipPip
  • 26 posts
  • Location:Texas
  • I travel:With Pets

Posted 11 September 2013 - 01:27 PM

I checked on finanacing an older coach a few years ago and my credit union would consider it, but the loan would have to meet a borrowing committee.  I didn't complete the transaction as I bought a newer coach.  BL, maybe a credit union would consider it (I'm sure at a higher rate).  Good luck, Pete

  • 0


USAF (retired)

2006 Damon Daybreak

2013 Suzuki S-40 Hauled

2013 Fiat 500 towed

#3 gmoreno


    Advanced Member

  • Members
  • PipPipPip
  • 101 posts
  • Location:Boxford, MA
  • I travel:With children, With Pets

Posted 12 September 2013 - 12:56 PM

You could try Bank Of The West based in CA.




Not that they loan on MH older than 10 years, but they do a lot of MH and Boat financing. I've heard that MH older than 10 are indeed hard to finance. Sorry, but hope this lead helps.  

  • 0

2010 Damon Daybreak Bunkhouse V-10 35' Gas
2003 Toad, Land Rover Discovery

Blue Ox Base Plate, Falcon All-Terrain Tow Bar

#4 hermanmullins


    Advanced Member

  • Members
  • PipPipPip
  • 2,139 posts
  • Location:Whitewright, TEXAS

Posted 17 September 2013 - 06:19 AM



If your buyer owns his home free and clear, have him look into a Home Equity Loan.


Banks will give a a loan for up to 50% of the homes value. You do not need to take all of the money at once. You may draw it as needed. We took out one so we could buy our cars. This way we could pay cash for the cars and the HOE loans interest is tax deductible. but not on a auto loan.


Also the interest is much lower.


Hope this helps,



  • 0

"Fair winds and Following Seas"

Herman & Bobbie Mullins, F302225
Whitewright, TEXAS
'02 Monaco Dynasty, 40-foot 400 HP ISL
Chevrolet Silverado (M & G air brakes)
U.S. Navy PR-3 1956 to 1964

Southern Region Vice President for Six-State Rally Association
Lone Star Chapter FMCA Past President
Stars of Texas
Rally in The Pasture

#5 ivycole



  • Members
  • PipPip
  • 11 posts

Posted 10 February 2014 - 11:54 PM

Talk with Elizabeth Flair at South East financial. As always it is a case by case basis but they are great to work with for older MH.


Good Luck

  • 0

#6 Solman



  • Members
  • Pip
  • 1 posts

Posted 21 April 2014 - 11:17 PM

It depends on your situation, but I just purchased a DP and found my only two options for purchasing ($52k) a 2001 32' Country Coach with only 28k miles and owned by a retired diesel mechanic as follows (governed by my situation)

1. Borrow up to $60k using two of my car titles at 1.9%. Or
2. Take out a home equity loan at 8%

Obviously, I chose option one. One of my cars was actually for sale and it sold 3 days after purchasing the CC. At this point I owe $28k on the motorhome. The equity loan has the advantage that it's a tax write off, but frankly I'd rather have the 1.9 rather than the write off. The fact is it is hard to get loan on any RV over 10 years old unless you have equity in your portfolio somewhere.

  • 0



    Advanced Member

  • Members
  • PipPipPip
  • 636 posts
  • Location:Fort Worth Texas

Posted 27 April 2014 - 08:35 PM

I ran into the same thing when I was looking at coaches. Hard to find someone to finance anything over 10 years old. You may have to get creative like some have suggested.


  • 0

2003 Bounder 38N
5.9 Cummins
Allison 3000MH tran.
Towing a 2014 Honda CRV with a blue Ox tow bar

A man who carries a cat by the tail learns something he can learn in no other way.

-Mark Twain-


Also tagged with one or more of these keywords: Purchasing, Selling, Financing

0 user(s) are reading this topic

0 members, 0 guests, 0 anonymous users