Best Bank to Refi our RV Loan

OSH4007

Member
Hey everyone,

We are looking at the option of refinancing our RV loan. We are currently 5.74% and looking to see if there are better rates. Credit score is mid 700s, the RV is a 2020 Cyclone 4007....just looking for a better rate based if possible.

thanks
Mike
 

SNOKING

Well-known member
Hey everyone,

We are looking at the option of refinancing our RV loan. We are currently 5.74% and looking to see if there are better rates. Credit score is mid 700s, the RV is a 2020 Cyclone 4007....just looking for a better rate based if possible.

thanks
Mike

Credit Union!
 
We used a small local credit union and are at 4.5% if memory serves. I am not familiar with your lender but I suggest you check out your local credit unions. Like a teachers credit union or the like. They like to keep the $$ in the community and will support a local borrower better. (And with your credit score you should be able to do better than 5.74%)


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JohnDar

Prolifically Gabby Member
Shop a local credit union. On many types of loans, their rates are much better than any finance company or bank. If you have an account, it’s easy to set up automatic payments so you’re never late.


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SNOKING

Well-known member
Shop a local credit union. On many types of loans, their rates are much better than any finance company or bank. If you have an account, it’s easy to set up automatic payments so you’re never late.


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They can do an ACH transfer from any account at another financial company.
 

NP_Chief

Well-known member
I am also for the credit union idea. The dealer we bought from recommended a credit union when we bought our trailer and we ended up re-financing our tow vehicle with them. They also financed the house we just bought and the I have never stepped foot in a branch.
 

OSH4007

Member
Ok so Im seeing a theme here.....Local CU. Ill reach out to a couple in the area and see what rates are out there. We bought last June when rates were a little higher so with rates across the board dropping I was hoping to get a much better rate. I guess 1% lower is better but I assumed I would see rates in the mid 3s based on our current economy and a fed rate of 0%.

Thanks again for all your advice.
 

NYSUPstater

Well-known member
Banks? What are they??? FWIW, I've done business w/ my CU for past (crap CRS moment) I don't know, but it's been at least 20-30 years and have always gotten a great rate, best terms and if ever a problem, speak directly to someone local and if need be can always work something out if in a bind. Try that w/ a bank. Oh, rates, top notch, but believe a lot has to do w/ credit score.
 

jnbhobe

Well-known member
Yes to checking credit unions, The last loan I got was a commercial home loan at 3.75% for 15 yrs. And that was 3 yrs ago
 

zolman

Member
It's not my Credit Union for RV loans. I do a lot of business with them but not RV loans. They are almost 50% higher on RV but lower on everything else.

Has anyone used Good Sam?
 

JohnDar

Prolifically Gabby Member
Banks? What are they??? FWIW, I've done business w/ my CU for past (crap CRS moment) I don't know, but it's been at least 20-30 years and have always gotten a great rate, best terms and if ever a problem, speak directly to someone local and if need be can always work something out if in a bind. Try that w/ a bank. Oh, rates, top notch, but believe a lot has to do w/ credit score.

I switched from a bank to a credit union a few years back when the bank started charging me a monthly fee for not using my ATM/Debit card often enough each month. I refuse to have a debit card associated with our accounts. A regular credit union ATM card is good at thousands of credit union ATM's across the country...without a fee.
 

avvidclif

Well-known member
When I bought mine the Teacher Credit Union wanted over 8% for a boat, motorcycle, or rv. They were getting 3% on vehicles. I told the dealer I wanted 4.5% or less and he got it thru Bank of America.
 
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