lindacahill Report post Posted July 12, 2011 Has anyone used Essex Credit for refinancing? We are considering them, have seen their advertisement but would like feedback from anyone who has experience with them. Thanks! Share this post Link to post Share on other sites
hermanmullins Report post Posted July 12, 2011 Has anyone used Essex Credit for refinancing? We are considering them, have seen their advertisement but would like feedback from anyone who has experience with them. Thanks! With our present coach, we went through Essex Credit. They are a broker that will find you as good a rate as you can find. The dealer we bought our coach from was very leery of Essex when they came back with 2% lower rate then they had quoted. That was until they received the loan paper work and it was being financed through Wacovia, now Wells Fargo. John and his staff are very helpful. Give them a shot. Good Luck, Share this post Link to post Share on other sites
tbutler Report post Posted July 12, 2011 We refinanced our coach one year after we bought it. We saved huge on the interest. We went through an outfit called Sterling Associates Inc. with offices across the country. We talked to them at the FMCA Convention in Redmond, OR in 2004. It certainly was worth it in our case. Be careful to read the provisions of the proposed loan when you receive a copy. The first loan offered to us had a clause that allowed the loan company to balloon or demand payment of the loan at their discretion. Given the current economic situation, I'm glad I spotted that and rejected that proposal. The agent secured a different loan company with the same rate, this time it was Wachovia. That loan had no such clause and we still have that loan with Wells Fargo today. Share this post Link to post Share on other sites
hermanmullins Report post Posted July 12, 2011 We refinanced our coach one year after we bought it. We saved huge on the interest. We went through an outfit called Sterling Associates Inc. with offices across the country. We talked to them at the FMCA Convention in Redmond, OR in 2004. It certainly was worth it in our case. Be careful to read the provisions of the proposed loan when you receive a copy. The first loan offered to us had a clause that allowed the loan company to balloon or demand payment of the loan at their discretion. Given the current economic situation, I'm glad I spotted that and rejected that proposal. The agent secured a different loan company with the same rate, this time it was Wachovia. That loan had no such clause and we still have that loan with Wells Fargo today. See how smart people that own Monacos are. Share this post Link to post Share on other sites
zaferde Report post Posted July 13, 2011 I am refinancing with them right now. I got a deal thru Costco and they have a 4.94% interest rate, FMCA is 5.15% and I think Good Sam was 4.99%, all thru Essex. It just took 1 day to get approved, I signed the papers today. I also saved a bunch of $$$, and lowered the number of years I owe. Dennis Share this post Link to post Share on other sites
lindacahill Report post Posted July 13, 2011 Thanks for all the replies -- we'll move forward and read the "small print". Share this post Link to post Share on other sites
leehowland Report post Posted November 30, 2011 Question I have is how do you get financing if you are full timing??? I've tried B of A and Good Sam, both say if you are a full timer you can't get financing. Has to do with the new S.A.F.E Act passed last year. Share this post Link to post Share on other sites
garykd Report post Posted December 16, 2011 On a refi, with Essex credit, one must owe less than they think it is worth. Share this post Link to post Share on other sites
ynott96 Report post Posted December 17, 2011 I have just completed my second refi with ESSEX credit and the entire process was somewhat lengthy yet successful! They require a lot of paperwork, nut the end result is worth the time....George Share this post Link to post Share on other sites
tbutler Report post Posted December 17, 2011 leehowland, Regarding the question of how you get financing as a full timer, lets investigate the problem further. There are many ways of handling mail and address as a full timer. I'm not sure of the problem with the S.A.F.E. act but suspect it may be a matter of how you handle your address and mail. Do you have a legal address of residence with a mail provider or other arrangements? I suspect that you can't use a PO Box as a legal address any longer. Is your address shown on your drivers license a street address? Did you use a street address on your loan application? A good loan officer should be able to look at your application and tell you why the S.A.F.E. act prevents you from getting a loan, more than just you can't do it as a full timer. I haven't needed a loan recently but arranged several when we were full timers. We never had a problem. Fill us in with some further information for further help. Share this post Link to post Share on other sites
Guest BillAdams Report post Posted December 18, 2011 Bank of America claims that I must be able to provide a rent receipt, utility bill or similar to prove that I am a resident at the address that is listed on my drivers license. Unfortunately, this is my Mothers address and I cannot provide this kind of information. I cannot even get a CC with BOA as I cannot meet these new requirements. I would also like to know how others are handling these new laws which burden the full-timer with mandates that we are unable to meet. Share this post Link to post Share on other sites
kingfr Report post Posted December 19, 2011 Bank of America claims that I must be able to provide a rent receipt, utility bill or similar to prove that I am a resident at the address that is listed on my drivers license. Unfortunately, this is my Mothers address and I cannot provide this kind of information. I cannot even get a CC with BOA as I cannot meet these new requirements. I would also like to know how others are handling these new laws which burden the full-timer with mandates that we are unable to meet. The law of unintended consequences seems to have struck again. We use the street address of the house that we sold 4 years ago on out drivers license's, auto registration, etc. The person who bought the house from us is a friend, and he ok'd our use of the address. We were able to secure two new CCs this year using this technique. We us a USPS PO Box in our old home town for mail, Premium Mail Forwarding gets the mail to us. This is the main reason why we have not relocated our mail, etc, to Texas or South Dakota. Share this post Link to post Share on other sites
tbutler Report post Posted December 19, 2011 Bill, Where do you have your DirecTV or Dish TV bill sent, even if electronic billing, what is the billing address? If it is your mothers house you should be able to print off a copy of that bill and take it to BOA. The same would be true of your cell phone bills. If they ask for an electric bill tell them you are all solar and have no bill for electric!!! Share this post Link to post Share on other sites
Guest BillAdams Report post Posted December 20, 2011 That would be an interesting experiment. Since all of the billing is on-line I do use my Mothers address for both the phone and my DirecTV service. Thanks for the suggestion and should the issue occur in the future I will give that a try. For now, I am just not going to change anything! Share this post Link to post Share on other sites
