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Financing Question – Class A Rig


MAColorado
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Hello Folks!  Wanted to see if I could get some input from anyone that has financed a Class A rig in the last 12-16 months and is a full-timer. 

I'm looking for a loan amount of $400-450k (after the down payment) and would be interested in a lending institution that provides a preapproval after reviewing the application and documents.  

I've been trying to reach Good Sam's finance group over the last few days and have been on hold for 4 hrs in total.  Reached out to Essex Bank (Bank of the West), and they can fund the amount, but do not offer preapproval.  Saw someone mention Alliant Credit Union, but they only go up to $300k.

Any suggestions on other lenders??  On my end, I'm looking at my local lenders now.

Best - Michael

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Welcome to the Escapee forums! We are happy to have you join us. I have not financed anything recently enough to be of much help, but I am sure there will be others who have ideas. 

Welcome!

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We financed our first full time rig with a home equity line of credit just before we sold the house and paid off the line. After that traded in rig along with cash from the leftover money we had from selling the house.

Linda

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On 3/7/2022 at 3:12 PM, Kirk W said:

Welcome to the Escapee forums! We are happy to have you join us. I have not financed anything recently enough to be of much help, but I am sure there will be others who have ideas. 

Welcome!

Hello Kirk W - Thanks for the reply and welcome yesterday.  Not sure if the forum has a PM feature, but would love to connect regarding the 2nd message you sent yesterday and action to my account...very confused.  Michael

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1 hour ago, MAColorado said:

Not sure if the forum has a PM feature, but would love to connect regarding the 2nd message you sent yesterday and action to my account...very confused.

It does have a private message and I'll send you one ASAP.  😊

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