financing FWC

[Doff]

Hey all...
Curious to hear about everyones experience with financing your FWC. Guessing some were able to pay cash, but guessing a lot went the financing route. Suggestions on who finances a new FWC? Our local credit union does not.

 

[Adventurer]

I used my local credit union. They had a hard time with the price because FWC wasn't one of the big manufacturers so they couldn't look them up in a guide. They also didn't like the lack of VIN, or what number was available to be used as an identification number. It couldn't be decoded like a car VIN. They took the receipt for payment as the amount to be financed, and I had a significant amount to be put down on it, so it went relatively smooth, but not like purchasing a car.

 

[Rebele93]

We are currently working on financing a FWC Fleet model. We are using our Credit Union for this. The first quote they gave us used the camper itself as the collateral and they were not going to give us the full amount. The interest rate was around 9-10%, much higher than we were expecting, and the offer would have left us about $3000. short of the total we were requesting. I think they were using the fully configured total price minus the instant depreciation as you drive it off the lot.

The lesser loan amount, plus the higher interest rate did not really work for us, so instead they are working on two loans, one is a secured auto loan (using my recently paid off 2014 Tacoma as collateral) at their typical auto loan rate, and then a smaller personal loan to make up the difference at the unsecured (higher) interest rate.

They seemed to have an issue with the fact that the camper doesn't have it's own VIN and even mentioned that they don't often see RV or auto loans for slide-in campers. We did not apply through Essex credit, so I don't know how they compare, but I know that they have much more experience with this style of camper.

With any luck, we are only days away from putting an order in for our camper. Good luck!

Cheers,
Rebele93

 

[longhorn1]

We financed through USAA. We have our auto and home owners with USAA. At the time my rate was around 2.5%. In Indiana USAA treated my FWC as part of the truck with no additional cost and under homeowner's when off the truck. Each state is different.

 

[Stan@FourWheel]

We send many of our customers to Essex Credit.

https://fourwheelcampers.com/financing-get-financing-rvs-truck-campers/

 

[Mtnman2500]

Adding onto this (and not hijacking the thread), but what is everyone's experience with the loan terms. Are you getting traditional RV terms or shorter?