Jayco RV Owners Forum

Thread Tools Display Modes
Old 03-12-2016, 11:05 PM   #1
Join Date: Oct 2015
Location: Sacramento
Posts: 60
RV Loans

I'm getting very close to placing an order (maybe 2 days away). Now I'm looking at RV loans and noticed something weird:
A 10 year $20000 loan @ 9.25% has the same monthly payment as a 10 year $25000 loan @ 4.25%. (anything under $25000 has that 9.25 rate). I was looking at Good Sams and 2 other Rv loan sites for reference.

If we order a $21000 trailer I'd imagine we have to put 10% down ($2100). So after taxes and other fees (I don't know what they total) I think my loan is going to be under 25k and more than 20k. My "dead zone" of interest rates.

What advice or strategy can you recommend to get my monthly payment lower? It seems like if I follow my own logic, anything over 20 grand is a waste until I reach 25 grand (when the interest rate is cut in half) . Do dealers have ways of working numbers?

coachtcardoso is offline   Reply With Quote
Old 03-12-2016, 11:39 PM   #2
Junior Member
Join Date: Nov 2014
Location: Reno
Posts: 16
RV Loans

Find a different lender. Check with local credit unions.

If you qualify for 4.25 on a larger loan there's no reason you should be paying 9.25% on a smaller loan.

FWIW, we got a $20,000 loan under 4% when we bought our trailer a little over a year ago.

stickyTaco is offline   Reply With Quote
Old 03-13-2016, 06:28 AM   #3
Senior Member
Join Date: Jan 2011
Location: Vienna
Posts: 1,454
USAA has some very competitive rates. We used them on our last purchase. Even beat our credit union rates!

Joe Hinson
2010 Jayco Quest G2(SOLD)
2014 Jayco Eagle 33.5RETS
2007 Ram 2500 5.9L Cummins(SOLD)
2015 Ram 2500 6.7L Cummins 4WD
namusmc65 is offline   Reply With Quote
Old 03-13-2016, 06:45 AM   #4
Join Date: Jul 2012
Posts: 69
I noticed the same thing a few years ago when I bought so I offered a tiny down payment. The lender wanted more down so I said sure, as long as the interest rate stays low. Done. They can and will negotiate.
2012 Eagle Super Lite 266 RKS, 2004 Silverado K1500
ShawnR is offline   Reply With Quote
Old 03-13-2016, 07:11 AM   #5
Senior Member
Join Date: Jul 2014
Location: Silver Spring, MD
Posts: 849
If you own a house, you might consider a home equity line of credit. That gives us 15 years to pay back our RV loan at just under 4%. We are planning to pay it off in 5 or7 years though. It was by far the cheapest and most flexible loan for us.
spoon059 is offline   Reply With Quote
Old 03-24-2016, 07:12 AM   #6
Senior Member
Join Date: Jul 2015
Location: Mid-Mi
Posts: 1,077
Not sure if you have completed the deal yet or not, but as mentioned, call any and all credit unions somewhat local to you!!!

We have a local credit union (about 15min away from the house) that had 6yr loans for 2-1/2% (think that's our rate, was right around there if not exact). We purchased last July for reference, but last I knew they still had the same rate. Had the rate been higher, we probably would have held off at the time.

Good luck!!!
Bubba J- '13 Chevy Silverado 2500HD LT CCSB 4x4 6.0

'16 Jay Flight 32 BHDS ELITE 32 BHDS MODS Reese DC HP

need-a-vacation is offline   Reply With Quote
Old 03-24-2016, 07:29 AM   #7
Senior Member
Join Date: Oct 2015
Location: Worcester
Posts: 586
I went through my dealer.. rate is 4.5% for 5 years.. I thought about home equity loan, but I didn't want to tie my house to it to save about 1%, especially since I'm one year from paying the house off. Plus it would have required home assessment and all that bologna.
2016 Jay Flight 38FDDS
jloco is offline   Reply With Quote
Old 03-24-2016, 07:57 AM   #8
Senior Member
maromeo's Avatar
Join Date: Sep 2010
Location: Scottsdale, AZ
Posts: 769
We went in prequalified for a loan through Good Sam at 3.87 % for a fifth wheel with the stipulation it would fit under our RV cover needless to say it didn't. We ended up ordering a the Eagle which cost us less and got the same interest rate through US Bank. It pays to have all your ducks in a row.

Congrats on the new purchase.
Joe and Mary Anne
1 18 yr old DD
2014 Ram 2500 Diesel Laramie Mega Cab 4 X 4
2011 Jayco Jay Flight 26RLS-Sold
2014 Jayco Eagle 298 RLDS
maromeo is offline   Reply With Quote
Old 03-24-2016, 08:23 AM   #9
Senior Member
Join Date: May 2013
Location: SE Wisconsin
Posts: 1,800
I'm not sure how you got those quotes, I haven't had to do this in a while. But your credit rating will also make a huge difference in your rate and terms.
2013 Jayco Jayfeather X20 E, 2008 GMC Sierra 1500 Crew Cab Z71 SLE
DocBrown is offline   Reply With Quote
Old 03-24-2016, 09:26 AM   #10
Senior Member
3'senough's Avatar
Join Date: Sep 2010
Location: New York
Posts: 1,862
The rates you have seem in line for Essex Credit. They have a structure like that. Agree that you should start with the dealer. If not search in your zip for loan rates like light stream or lending tree to give you an idea of what is out there. I have had good luck with matching my best rate by the dealers(car or RV) since they want their money faster and in house financing is better for them.


2014 375 BHFS Eagle Premier
2014 Ram 3500 Longhorn DRW CC
6.7 CTD, Aisin, 4.10's
Yamaha EF3000iSEB
3'senough is offline   Reply With Quote

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

» Virginia State Campgrounds

Reviews provided by

Powered by vBadvanced CMPS v3.2.3

All times are GMT -6. The time now is 07:40 PM.

Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2016, vBulletin Solutions, Inc.