Motorhome Refinancing

[jimmys1959]

Has anyone used Goodsam RV financing?

Rates seem good.

I just want to see if anybody has had any good or bad experiences.

Thanks

[TexasRVGuy]

In my experience a 3rd party/specialized RV financing company is great for getting a quote you can take to your bank or credit union as leverage to get a better rate or better terms.

[lgstar]

Motorhome Refinancing is available for motor home owners who are looking for a lower interest rate on the balance of the note on the recreational vehicle they purchased at a time when the interest rates were higher. Refinance companies who offer these loans have web sites with online applications. These companies will contact the bank with the current loan, get the pay-off number and payment record. Many will get information from three or four lenders and pass that information on to the applicant for comparison. With that information in hand, the applicant then contacts the motorhome refinancing company with his choice, and the process begins. Most lenders will not consider a refinance loan under $40,000, and a credit score of at least 700 is required by most. There are some who will consider a credit score of 600, but they are few in number. Like many other areas of finance, motorhome financing is easier when a good credit score has been maintained.

[hermanmullins]

Check with Essex in Florida.(You can find them in Family Motor Coach Mag.) They found me a great rate when we bought our current coach. They got us a rate 2% less then the dealer and it was with Wacovia, now Wells Fargo. Be sure that you have some equity in your coach or that it hasn't dropped in value where you may have to pay off some of your current note to be able to refinance.

[bbnuttmann]

We just refinanced our home loan at just over 3%. We got enough from this refi to pay off the loan we got two years ago.