|
05-03-2016, 05:52 AM
|
#1
|
Senior Member
Join Date: Nov 2015
Location: Boston
Posts: 319
|
Current Interest Rates?
OK, I searched and it doesn't look like anyone has asked this question in a while. Seeing that I'm always looking to save money, where I can, what are the best interest rates right now? I haven't even made my 1st payment yet, but already looking for a better rate (why not). I currently have a 4.5% for 12 years. My credit rating is over 850+. Anyone find a better rate and if so, where?
Thanks,
Dave...
__________________
2015 Ram 3500, CTD, CCLB Dually, Aisin, 4x4 in Maximum Steel, Andersen Ultimate Hitch (v2)
2013 Ram 2500, CTD, CCLB 4x4 in True Blue - SOLD
2016 Eagle HT 29.5 BHDS Picked-up 4/1/16
2007 Rockwood ROO 21SS - SOLD
|
|
|
05-03-2016, 05:59 AM
|
#2
|
Senior Member
Join Date: Apr 2016
Location: SW Washington
Posts: 1,024
|
Depending on principal you can get 3.99 from Good Sam
__________________
2009 F350 CC LB 4WD
2017 Jayco 355MBQS
|
|
|
05-03-2016, 06:11 AM
|
#3
|
Senior Member
Join Date: Nov 2015
Location: Boston
Posts: 319
|
Quote:
Originally Posted by Rustysocket
Depending on principal you can get 3.99 from Good Sam
|
Between $25,000-$49,999 their rates are 4.49%, so not any better.
Dave...
__________________
2015 Ram 3500, CTD, CCLB Dually, Aisin, 4x4 in Maximum Steel, Andersen Ultimate Hitch (v2)
2013 Ram 2500, CTD, CCLB 4x4 in True Blue - SOLD
2016 Eagle HT 29.5 BHDS Picked-up 4/1/16
2007 Rockwood ROO 21SS - SOLD
|
|
|
05-03-2016, 07:43 AM
|
#4
|
Senior Member
Join Date: Sep 2010
Location: Scottsdale, AZ
Posts: 795
|
When we were purchasing we got preapproved through Good Sam and brought the approval letter into the dealer and he was able to match the rate and term through a local bank. At the time Good Sam (Essex) had the lowest RV rates around, even our credit union.
Before we buy any larger purchase I go in prepared with price negotiations and the preapproved financing. Looking can become an emotional decision and then you regret some of the buying experience.
Don't forget you can write off the interest on your taxes as a second home (unless you already have one). Not all banks will send you a 1098 for the interest, you may have to call the bank or financial institute (like we have had to do for the past 2 years).
Hope this helps.
__________________
Joe and Mary Anne
1 20 yr old DD
2014 Ram 2500 Diesel Laramie Mega Cab 4 X 4
2011 Jayco Jay Flight 26RLS-Sold
2014 Jayco Eagle 298 RLDS
|
|
|
05-03-2016, 07:52 AM
|
#5
|
Senior Member
Join Date: Feb 2016
Location: Mills River
Posts: 270
|
4.49% seems to be about the best I could find searching around for 12-15 years.
Dealer was able to match that, so I guess that is the going rate for around $50K.
__________________
2003 GMC Serria 2500HD - Lotsa Mods.
2016 355MBQS
|
|
|
05-03-2016, 08:19 AM
|
#6
|
Member
Join Date: Apr 2016
Location: Wilton Manors
Posts: 62
|
4.49% from Bank of America
__________________
Moe
2016 Redhawk 26X1
|
|
|
05-03-2016, 08:37 AM
|
#7
|
Senior Member
Join Date: May 2013
Location: SE Wisconsin
Posts: 3,431
|
We bought ours in 2013. Your quoted rate is pretty close to the terms we got. We put down a big down payment and have an excellent credit score also.
__________________
Chuck
2013 Jayco Jayfeather X20 E (sold)
2016 Chevy Silverado LTZ 2 Z71 Crew Cab (sold, and dearly missed)
|
|
|
05-03-2016, 08:38 AM
|
#8
|
Senior Member
Join Date: Aug 2015
Location: York
Posts: 134
|
Try Bank of the West. They beat my other offers by a quarter percent and were great to work with. They apparently finance a lot of RV's.
|
|
|
05-03-2016, 09:11 AM
|
#9
|
Junior Member
Join Date: Sep 2013
Location: Anywhere
Posts: 9
|
Check your local credit union. They will offer the best rates. I financed my 2016 Whitehawk 28 DSBH for 6 years at 2.74%.
|
|
|
05-03-2016, 09:50 AM
|
#10
|
Senior Member
Join Date: Jan 2015
Location: Surprise
Posts: 2,623
|
KOA also uses Essex but they waive some fees and throw in free KOA camping when you finance with them. Worth a look
__________________
2011 Toyota Tundra double cab
2015 27RLS
|
|
|
05-03-2016, 11:17 AM
|
#11
|
Senior Member
Join Date: Jun 2010
Location: Saskatoon Sask Canada
Posts: 10,726
|
I get prime +2% my loan officer says she cannot even get that rate
__________________
Seann
2004 Chev Silverado Duramax optioned past the max. 2009 Jayco Eagle 308 RLS 900watts of solar, Lithium batteries (400amp hour), 2000 watt (4000 surge) whole house inverter.
145days /2023 2022/151 2021[/COLOR]
93/2020,157/2019219/2018 206/2017,215/2016, 211/2015, 196/14, 247/13, 193/12
|
|
|
05-03-2016, 11:54 AM
|
#12
|
Senior Member
Join Date: Dec 2012
Location: NW AR (God's Country)
Posts: 2,051
|
You probably already know this but for those who don't...the interest paid on a $25,000 loan at 4.49% over 12 years is $20,548 (and some change) according to the BankRate calculator. Just some FYI.
__________________
Skip
2012 Eagle Super Lite HT 26.5RKS
2005 GMC 2500 SLT HD D/A
|
|
|
05-03-2016, 01:08 PM
|
#13
|
Junior Member
Join Date: Apr 2016
Location: Buffalo
Posts: 24
|
Quote:
Originally Posted by mtnbikes
Check your local credit union. They will offer the best rates. I financed my 2016 Whitehawk 28 DSBH for 6 years at 2.74%.
|
I agree with mtnbikes... we're in the process of getting a home equity loan from SEFCU (credit union in NY). Sometimes (maybe always??) there are certain qualifications on who can join. For me, working in Buffalo did the trick. Not all credit unions will have fantastic rates on home equity loans, but SEFCU does. You can get 2.85% for 10 years if you have great credit and Combined Loan-To-Value of 50% or less (i.e. you're not borrowing more than 50% of your homes equity). If you're credit is not great or if your CLTV is higher than 50% you might still get a great rate, but it won't be the lowest.
SEFCU is a NY only credit union, but check out credit unions in your neck of the woods.
BTW, careful about making assumptions regarding your credit score... my FICO score was over 800 so I thought I was going to get their best rate. Unfortunately banks use different scoring methodologies depending on the type of loan. SEFCU uses Vantage (I think, but I can't remember for sure). Anyway, I had high balances on a couple of credit cards. I had the money to pay them off, but I was using the money for something else. I figured with my credit score I didn't have to worry about it, but their scoring model dinged me big time for the high balance (even though I had the money to pay them off). Plus I got dinged for not having a mortgage (can you believe that!? I paid it off 3 years ago and it negatively affected my score!). I ended up paying off my credit cards, waited until my wife's credit report reflected the changes (FYI, Discover card will push the changes to the credit bureaus ahead of schedule if you ask nice, one of my other cards would not) and then reapplied with my wife (my first application was just me, but once SEFCU runs your credit they won't do it again for 60 days). SEFCU takes the better of the two scores if you apply for a joint loan. You might want to ask your bank/credit union where they pull the credit report from and run it yourself before applying.
Hope this helps!
-Len
__________________
2015 Ford F-150
2017 Jayco Feather 25BH
2010 Jayco 1206 (planning to sell)
|
|
|
05-03-2016, 01:53 PM
|
#14
|
Senior Member
Join Date: Jun 2013
Location: Waconia, MN
Posts: 447
|
Local Credit Union
6 Years
$30,000
3.74%
__________________
2015 Chevy Silverado 2500HD CC Duramax
2016 Eagle 323LKTS Java
Pull Rite SuperGlide #4100 Hitch w/Mor-Ryde Pin Box
|
|
|
05-03-2016, 01:55 PM
|
#15
|
Senior Member
Join Date: Feb 2016
Location: Mills River
Posts: 270
|
Quote:
Originally Posted by troutslayer
You probably already know this but for those who don't...the interest paid on a $25,000 loan at 4.49% over 12 years is $20,548 (and some change) according to the BankRate calculator. Just some FYI.
|
Yup.
I financed mine that long just in case some major life event comes up and makes funds tight.
Hope to pay off in 5-6 years.....
__________________
2003 GMC Serria 2500HD - Lotsa Mods.
2016 355MBQS
|
|
|
05-03-2016, 02:00 PM
|
#16
|
Senior Member
Join Date: Oct 2015
Location: Sioux Falls
Posts: 296
|
My calculator shows the total interest expense as $7,382.53 with a total paid of $32,382.53 on a $25,000 loan for 12 years. Your interest expense calculation works for a 30 year mortgage.
__________________
Rick
Palm Desert, CA (formerly)
Sioux Falls, SD (for taxes)
2014 Seneca 37FS
2015 Wrangler Sport toad
red-headed wife
|
|
|
05-03-2016, 05:22 PM
|
#17
|
Senior Member
Join Date: Dec 2012
Location: NW AR (God's Country)
Posts: 2,051
|
Quote:
Originally Posted by RoWest
My calculator shows the total interest expense as $7,382.53 with a total paid of $32,382.53 on a $25,000 loan for 12 years. Your interest expense calculation works for a 30 year mortgage.
|
My apologies!
__________________
Skip
2012 Eagle Super Lite HT 26.5RKS
2005 GMC 2500 SLT HD D/A
|
|
|
05-05-2016, 04:12 PM
|
#18
|
Senior Member
Join Date: Sep 2015
Location: Reno
Posts: 181
|
4.25 with USAA (if you're eligible to join) on 15 years, 35k or more....
|
|
|
05-06-2016, 08:04 PM
|
#19
|
Senior Member
Join Date: Sep 2010
Location: Fresno
Posts: 205
|
Last March
Local Credit Union
$20,000
6 Years
1.90%
Currently the rate is 3.89%
Try your local credit union
__________________
Tom & Jill Williams
2015 Jayco Jay Flight 27RLS
2017 Ford F-250 4X4 Crew Cab 6.7L Diesel 3.55 E-Locker
|
|
|
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» Recent Threads |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|