leochris Report post Posted May 3, 2016 New to FMCA. We are retired and have just sold our oldie moldy 5th wheel and are now switching gears (no pun) to transition into a motor home. After looking for just the right mode of travel for 6 years we feel a MH is best for us at this time of life. But they are expensive! And we want to make the best possible deal. My questions is: Can you get a better price by negotiating your financing with the dealer or should we go for a loan from our financial institution (bank or investment mgr.). I know interest rates play into it obviously, but if we plan an early payoff the bottom line price is very important out of the gate. Any advice from experienced buyers gratefully accepted. Share this post Link to post Share on other sites
wolfe10 Report post Posted May 3, 2016 leochris, Welcome to the FMCA Forum. There is no simple answer. Dealers DO make money on financing. You will have to weight the additional discount you are able to negotiate for financing with the dealer vs the interest rate difference between dealer and outside financing. And, this could certainly vary dealer to dealer. Share this post Link to post Share on other sites
leochris Report post Posted May 3, 2016 I guess it's going to get complicated! I sweating already...LOL Thanks. Share this post Link to post Share on other sites
hermanmullins Report post Posted May 4, 2016 Check with Essex in the FMCA magazine. They are brokers and can find great rates. Herman Share this post Link to post Share on other sites
huffypuff Report post Posted May 4, 2016 Herman is the man that knows what he is talking about. I went with Essex when I got my coach and they had the best rate but takes longer to get. Share this post Link to post Share on other sites
campcop Report post Posted May 4, 2016 We got our financing thru the dealer and as a result got a little better deal on pricing. Interest rate was 3.75 so that was not too shabby either...Our dealer checked with several lenders for the best rate.. Share this post Link to post Share on other sites
jleamont Report post Posted May 4, 2016 Same here, and I negotiated them on the rate (can't remember the rate). I sold cars for a year back in the 90's, I remember how it all works. Share this post Link to post Share on other sites
leochris Report post Posted May 7, 2016 Thanks to all for your sage advice. We jumped in with both feet. Feel we got a pretty good deal financing with dealer. Much better interest rate than our bank could offer. We are now awaiting delivery so I can start training my kitties to ride with us. Share this post Link to post Share on other sites
