Wikeee Posted July 1, 2015 Report Share Posted July 1, 2015 Will be purchasing a used MDT or HDT sometime in the next 6 months for towing a very heavy 5th wheel. Have uncovered two sources of financing for MDT's - ARC & RV Lending Group. Anybody else know of additional Financing options? MDT or HDT or both. Thanks in advance! Kevin & Carol Wike 2015 New Horizons Majestic 41' Link to comment Share on other sites More sharing options...
Nuke-E Posted July 1, 2015 Report Share Posted July 1, 2015 My situation's likely a little different, with a little more conventional unconventional motorhome. I ended up financing with a bank I already had business with. Essex and a few other big RV lending outfits scoffed at the mileage on my rig. I got a few comments about it being "all worn out" at 208,000 miles. The other hang-up was really a problem with how Showhauler had submitted information to NADA--they listed the cost of the conversion, without truck chassis, since NADA wanted base costs (and I think Showhauler's dealers handle actually ordering a new truck). NADA also generally applies the same depreciation curve to all makes and models, which means they're way off market value in many cases. I thought I was getting a great deal, and the banks thought I was paying double what it was worth. Wherever you end up, I'd recommend clarifying collateral requirements before actually applying for a loan anywhere--you'll save yourself a lot of time, and minimize the number of credit inquiries. 45' 2004 Showhauler -- VNL300, ISX, FreedomLine -- RVnerds.com -- where I've started to write about what I'm up to Headlight and Fog Light Upgrades http://deepspacelighting.com Link to comment Share on other sites More sharing options...
GlennWest Posted July 1, 2015 Report Share Posted July 1, 2015 RV Lending Group has year limits on their loans. This may hurt in HDT/MDT. Most of what we after are 10 year old units. Big hang up with my CU is value. They are saying now if I get a real value they will consider. Their conventional means of value don't list trucks. This is their problem. Get around that and you have a chance. 2003 Teton Grand Freedom towed with 2006 Freightliner Century 120 across the beautiful USA welding pipe.https://photos.app.goo.gl/O32ZjgzSzgK7LAyt1 Link to comment Share on other sites More sharing options...
Alie&Jim's Carrilite Posted July 1, 2015 Report Share Posted July 1, 2015 Liberty National Bank in Sioux Falls South Dakota might finance them. We asked our banker there about possible loans, or cashing investments in to buy ours. Alie & Jim + 8 paws 2017 DRV Memphis BART- 1998 Volvo 610 Lil'ole 6cyl Cummins Link to comment Share on other sites More sharing options...
Mark and Dale Bruss Posted July 1, 2015 Report Share Posted July 1, 2015 Since we had a couple of years before full-timing, we refinance the house and pulled an amount to cover the purchase of the HDT. It is easier to finance something already financed. Please click for Emails instead of PM Mark & DaleJoey - 2016 Bounder 33C Tige - 2006 40' Travel SupremeSparky III - 2021 Mustang Mach-e, off the the Road since 2019 Useful HDT Truck, Trailer, and Full-timing Info atwww.dmbruss.com Link to comment Share on other sites More sharing options...
Wikeee Posted July 3, 2015 Author Report Share Posted July 3, 2015 Thanks for your input. Much appreciated Kevin & Carol Wike 2015 New Horizons Majestic 41' Link to comment Share on other sites More sharing options...
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