New 5er/walked out

[whjake]

As is stands now we are going to end up walking from the deal. When we were at the RV show in Jan. they never said ANYTHING about have 60 days to finish the paper work. So unless they hold the rate for another 30 days. We are gone. It is sad that I have to do this and maybe this is partly our fault. We just don't want to paying another $12 a month for this camper. It isn't worth it to us. ANd I am not signing anything till I get to inspect the RV myself. Live and Learn I guess

[Crabman]

Originally Posted by whjake

As is stands now we are going to end up walking from the deal. When we were at the RV show in Jan. they never said ANYTHING about have 60 days to finish the paper work. So unless they hold the rate for another 30 days. We are gone. It is sad that I have to do this and maybe this is partly our fault. We just don't want to paying another $12 a month for this camper. It isn't worth it to us. ANd I am not signing anything till I get to inspect the RV myself. Live and Learn I guess

One thing to consider. All things point to even higher rates in the future. It will not get any better IMO.

[curver900]

never pay for something before you take delivery... ever.. would you buy a car without test driving it?

If it was me I would have walked too.. and explained to them that when the unit comes in we can discuss again.. and now you can get a better deal anyway.. your time is money... or look for a new dealer.. I have walked on many a car deal only to get the call.. we will do that deal, even before I get home.. then I tell them no... my time is valuable and it just cost you another $250 for me to come back... I am already at the next dealer...

if they don't agree... the dealer I am talking to is now on notice as well.. good times..

you are lost booked revenue.. booked revenue that gets unbooked is a bad thing for them...

good luck.. don't let them "scare" you about rates ... so what .5% is nothing..you can get a price reduction to match any "rate hike" they are talking about... and if .5% is to much maybe you need a cheaper unit?

Besides gives you more time to do more research.. that scares the crap out of them too...

[Nukeneck]

I personally wouldn't finaince through the dealership. I'd go to my credit union or bank and get funding that way. This way it's essentially a cash deal on your end. Dealerships always try to hide extra costs in their financing.

[Larry G.]

Originally Posted by whjake

As is stands now we are going to end up walking from the deal. When we were at the RV show in Jan. they never said ANYTHING about have 60 days to finish the paper work. So unless they hold the rate for another 30 days. We are gone. It is sad that I have to do this and maybe this is partly our fault. We just don't want to paying another $12 a month for this camper. It isn't worth it to us. ANd I am not signing anything till I get to inspect the RV myself. Live and Learn I guess

I'll ask 1 more time OP...did you try and get financing on your own?

If not you still could.

[whjake]

No we did not. I wouldn't even know where to start looking my own financing.
One of thr problems we also have is thr fact we are trading in our existing camper. (Which still had a loan on it. We are breaking evan). If i got financing myself i would to have pay that off first/sell my self.

[RayPayne]

Originally Posted by whjake

No we did not. I wouldn't even know where to start looking my own financing

You really have two options if you finance direct. Either through an institution you have an existing relationship with, such as your own bank, or go shopping around.

If shopping around I'd start by pulling my own credit. You take a hit every time someone else pulls it. If you have the printout or PDF of your credit report you can talk to credit unions and banks and see if you'd qualify (and for what rate) before they do a hard pull. I've only ever run into a problem with this once, and when I went to walk out, they called someone who could answer before doing a credit check. Take in all of your financial information and the details on the RV you want to buy. It can shorten the process of knowing what you can or can't get to minutes.

[Larry G.]

Originally Posted by whjake

No we did not. I wouldn't even know where to start looking my own financing

Start with bank/credit union you do business with.

[goducks]

Originally Posted by Nukeneck

I personally wouldn't finaince through the dealership. I'd go to my credit union or bank and get funding that way. This way it's essentially a cash deal on your end. Dealerships always try to hide extra costs in their financing.

My dealer beat my CU by .25% or so. I took it. Didn't see anything hiding. In fact it was one of the the easiest purchases. Mom and pop dealer.
Local banks are too high. We have our 5 year old 5er through Bank Of the West.

[goducks]

Originally Posted by RayPayne

You really have two options if you finance direct. Either through an institution you have an existing relationship with, such as your own bank, or go shopping around.

If shopping around I'd start by pulling my own credit. You take a hit every time someone else pulls it. If you have the printout or PDF of your credit report you can talk to credit unions and banks and see if you'd qualify (and for what rate) before they do a hard pull. I've only ever run into a problem with this once, and when I went to walk out, they called someone who could answer before doing a credit check. Take in all of your financial information and the details on the RV you want to buy. It can shorten the process of knowing what you can or can't get to minutes.

Wrong. You don't take a hit anymore. Yes it used to be that way. Lenders don't do that anymore. If they see several hits when someone is shopping for the same product (Car, RV, etc) then all is forgiven. Been told that personally by my CU. Not positive but I think it was something like 3 hits and you're safe.
Getting pre-approved solves the whole problem. Many dealers regardless of product like to run a background credit check to see if you can even qualify. That saves their time and your time. I like to go the pre-approved route myself.

[rsday75]

And having your own financing doesn't affect the trade in. They should be totally separate.

[goducks]

Originally Posted by rsday75

And having your own financing doesn't affect the trade in. They should be totally separate.

Interesting that you brought that up. One thing that really peevs me is some dealers quote a price with and without a trade. The trade regardless is almost always taken in at wholesale. Why then should one be penalized for having a trade. It's not that way in the auto world.
Greedy SOB's.

[Larry G.]

Are we starting to drift away from the OP's topic?

Didn't see where he had a trade...maybe I missed it.

[Crabman]

Originally Posted by Larry G.

Are we starting to drift away from the OP's topic?

Didn't see where he had a trade...maybe I missed it.

He does, post 26.

[goducks]

You did miss it.

Last week the Sales rep email and said we had to come in and "sign some paperwork". Not thinking anything about it we went down tonight to sign what we thought was stuff for the bank and some stuff for the our trade.

[Larry G.]

Originally Posted by Crabman

He does, post 26.

Ahhhh...thanks.

[BeachRetreat]

I don't understand how you'll ever make a payment on this deal before you get the camper. No bank is going to accept a loan without the serial number of the camper you are buying. No serial number has been assigned to your order yet and the dealer hasn't received any MSO from Jayco. Until that happens, all your realistically doing is committing to the loan once it comes in. Your in a bad place if the unit isn't right and yes I would walk. But reality isn't as bad as it sounds in my opinion.

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[Chrisb-24]

You need to contact Indiana RV Connection. We were going to order our new 5er from them until I found a repo. It's worth a call because at first our $ savings would of been around $4500.00 then we would of gotten here in Ok. Here's there number 1-888-640-3110 Good luck in your search!

[RedHorse1]

whjake, been following this thread and trying to put myself in your position. I agree with the posters judging the deal to have gone “fishy”. I equate to signing the final paperwork and beginning to make payments as committing to the purchase and accepting the unit.
It isn’t even built yet.
I get that the terms of financing have an expiration date and you might need new financing but it sounds like your dealer didn’t make that part of the reason you needed to “sign some papers”.
At the end of the day I think you’ve made the right decision. I’d expect the dealer to contact you again as the financing “end date” approaches and apply some pressure for you to close the deal.
I you REALLY want that trailer I’d suggest using that opportunity to a larger discount or more for the trade.
If I asked for $5k additional and they respond with $3k store credit, I’d respond with $8k store credit (only if I thought I could use it!), maybe for toppers, EMS, hitch, A/C upgrade. . . And be ready to say “no thanks” again.
If you do come to an agreement with them that involves a change GET IT IN WRITING!
These guys have already shown that they are not real trustworthy.
Of course, all this is just MHO.
Good luck and let us know how this spins out.

[whjake]

So friday afternoon we made a few calls to our bank and credit union and the rate we have locked in right now is better then I can get myself.

After all that. The sales manager called us. And i think we got something we can work with. We are going to sign the paper work in mid march. 3 or 4 days before my 60 day lock on the rate is up. It will give the dealer and the bank time to clear and approve. That will be a few days after the build date of the rv. The dealer is in writing giving us a 30 day return (money back) on the rv. Within that time I will be able to get my eyes on the rv and do a PDI. My first payment wont be due for 45 days after signing the paperwork. which at that point we will have that rv at home. IT isnt the best situation but it is something. Just need it is writing.