Journey with Confidence RV GPS App RV Trip Planner RV LIFE Campground Reviews RV Maintenance Take a Speed Test Free 7 Day Trial ×
Jayco RV Owners Forum
 


Reply
 
Thread Tools Search this Thread Display Modes
 
Old 05-05-2021, 02:16 PM   #1
Senior Member
 
tuckerdog1's Avatar
 
Join Date: Apr 2015
Location: TX
Posts: 279
General RV Draper Utah

If you bought an RV here, you may want to look at your contract.

__________________
2012 X213
2016 RAM 2500 Cummins SLT Lone Star LB SRW
Do not handicap your children by making their lives easy.
You live and learn, or you don't live long.
If you don't punish your children, life will.
tuckerdog1 is offline   Reply With Quote
Old 05-05-2021, 03:13 PM   #2
Senior Member
 
Murff's Avatar
 
Join Date: Mar 2015
Location: State of Confusion
Posts: 5,004
Well, looks like a lot of folks that bought at General RV got

__________________
Murff

2015 White Hawk 20MRB (It's last year)
2017 F150 2.7 Eco Boost 3.73 Gears

Murff is offline   Reply With Quote
Old 05-06-2021, 01:28 PM   #3
Junior Member
 
Join Date: Dec 2020
Location: Huntsville
Posts: 9
I still can’t figure out what the end game was there. The banks lent the money so the people obviously had enough credit to buy the rv. All that’s gonna happen is a bunch of repos at the 10 year mark. I bet the lawyers are just drooling right now.
absolutesantaja is offline   Reply With Quote
Old 05-06-2021, 01:43 PM   #4
RPR
Senior Member
 
Join Date: Dec 2018
Location: Owens Cross Roads
Posts: 3,212
Dealer gets a “commission” from the lender if it’s one the dealer sets up the buyer with. Would be interesting to see how that commission is figured. Last time we bought a new car that’s one question they asked. Who you financing with? And the line “We can give you a better deal if you go with so and so”.
RPR is offline   Reply With Quote
Old 05-06-2021, 01:44 PM   #5
Senior Member
 
Join Date: May 2013
Location: SE Wisconsin
Posts: 3,430
This is fascinating. I feel really bad for these folks.

Quote:
Originally Posted by absolutesantaja View Post
I still can’t figure out what the end game was there. The banks lent the money so the people obviously had enough credit to buy the rv. All that’s gonna happen is a bunch of repos at the 10 year mark. I bet the lawyers are just drooling right now.
The end game is getting a sale and putting money in their pockets. The loan company was granting 10 year loans. The dealer was telling them they were taking out 20 year loans and hiding it in the paper work. Once the loan was made, General RV got their money in full. Had most of these folks knew or even thought they were taking out 10 year contracts, they would have walked away, thus lost sales. They were essentially ripping off the loan company also because if the loan is defaulted, there is always a possibility they would not fully recover.
__________________
Chuck
2013 Jayco Jayfeather X20 E (sold)
2016 Chevy Silverado LTZ 2 Z71 Crew Cab (sold, and dearly missed)
DocBrown is offline   Reply With Quote
Old 05-07-2021, 04:59 AM   #6
Member
 
Join Date: Dec 2020
Location: cohoes
Posts: 58
I made that mistake of using the dealerships financing and I ended up refinancing with my bank 2 months in because it was so screwed up, the best thing you can tell the dealership is "i dont need your credit app my financing is all set". even if the dealership says we use that bank you never let them do the paperwork because they will always add to the interest rate and keep the extra
kwalsh is offline   Reply With Quote
Old 05-08-2021, 07:42 AM   #7
Senior Member
 
Join Date: Jan 2019
Location: Cincinnati
Posts: 1,185
Quote:
Originally Posted by kwalsh View Post
I made that mistake of using the dealerships financing and I ended up refinancing with my bank 2 months in because it was so screwed up, the best thing you can tell the dealership is "i dont need your credit app my financing is all set". even if the dealership says we use that bank you never let them do the paperwork because they will always add to the interest rate and keep the extra
That's what we've alway done- tell them we've got our own financing, and that it will be like a cash deal to them.
Then I watched a video about it- and next time, I'll do this- Tell them "We haven't decided" when they ask how we want to finance.

If they know up front that they won't be able to stick us with an expensive loan when they get us in the finance office, then they won't be willing to come down as much on the sale price of the vehicle.

So next time we'll shop all over the country, get the best price, then see how close our local dealer will come to that price. THEN maybe talk about financing, maybe not.

Appreciate all the information in these posts. Getting the best deal is a lifelong quest.
__________________
Ford F250 6.2 Gas, 4X4, Short Bed, Companion Hitch
2019 Jayco 28.5 RSTS, MorRyde orbital pinbox.
Cincinnati Kid is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search
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


» Featured Campgrounds

Reviews provided by

Powered by vBadvanced CMPS v3.2.3
Disclaimer:

This website is not affiliated with or endorsed by Jayco, Inc. or any of its affiliates. This is an independent, unofficial site.


All times are GMT -6. The time now is 06:40 AM.


Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2024, vBulletin Solutions, Inc.
Copyright 2002-2016 Social Knowledge, LLC All Rights Reserved.