# Financing Question From A Newbie



## 2outbacks (Jun 8, 2005)

Hi all. I have been lurking for weeks now, so I feel like I know you already.
We signed on the line for a 2005 25rss, and are going through the dealer for financing. We need to finance 17,1xx, including brake controller.

We are approved for financing- but the bank only wants to lend 16,200.

We put 1000. down, and they are taking our P.O.S. trade in sight un-seen, for 500.00- that is fair.

I know we didn't get the rock bottom price... can I ask the dealer to come down 900.00?

thanks in advance!


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## Castle Rock Outbackers (Jan 18, 2004)

Sure! You can ask whatever you want. If the bank wants more down than you can afford (or want to put down), then the financing will fail, and the deal is off. Same thing happened to us. Our dealer asked how much we wanted to put down, and I simply asked how much they wanted. Dealer said $500 would probably be fine. Bank came back and asked for $1500 instead. That was fine for us.

Randy


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## hatcityhosehauler (Feb 13, 2004)

Absolutely! Most of these units sell for 20-25% below MSRP. Don't know what price you were quoted, and for what unit, but everything is negotiable.

Good luck.

Tim


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## CamperAndy (Aug 26, 2004)

The bank wants you to have some equity in the trailer. Ours wanted us to have 10% into it based on the selling price.

Until you sign the paper you can still talk about the selling price but you may be a little late since you are already to the financing. The price you were quoted is not too bad.


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## okgwarden (Apr 27, 2005)

Hi! We bought our new 25rss last month and paid $16,800 in Tulsa. An Oklahoma City dealer wanted something in the 18's for the same. I think mentioning to the Tulsa dealer the fact that a Michigan rv dealer was selling them for $16,300 caused him to reconsider where he stood on the trailer. I think they should have room to work on the price for you. Otherwise, you can tell him where you need to be, and make the dealer work it out for you. He could give you more credit for your trade in, or finagle the numbers a bit. Good luck!


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## 2outbacks (Jun 8, 2005)

thanks for all the quick replies! Here is how the deal went down:

they were asking 25,500








we offered 15,800








we agreed on 18,700, including brake controller.
we gave them 1000.00, and our trade- 500.00- total 1500.00
need to finance 17,200

knowing the bank would want more equity, the paper deal shows the sales price at 21,400, and a trade in worth 3500.00

so, perhaps it is the high sales price the bank doesn't like? I didn't think it would matter as long as the loan-to-value was okay.
Is there any other reason the bank would balk? our credit is okay.


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## tdvffjohn (Mar 10, 2005)

Can you try your own bank instead if thiers?


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## 2outbacks (Jun 8, 2005)

tdvffjohn said:


> Can you try your own bank instead if thiers?
> [snapback]39585[/snapback]​


it's our bank.
My plan is to call the bank (once the deal is done) and make sure the dealer isn't skimming interest.
I know that the dealer sent the app to another credit union, too. I don't know what they have to say.


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## jbglenn (Mar 23, 2004)

You should be able to change any deal untill you drive the rig off the lot. It doesn't matter if your at the fianacing stage or not. I would call the bank before the deal is done just to make sure everything is honest. You can get a prodigy brake controller for 99.00 bucks. It's prettty easy to install. Just tell your dealer that the price is going to be a deal breaker and you need to reconsider. I had a 25rss ordered and got out of the deal at the last minute because I found a better deal. I hope this helps. Good Luck.


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## 7heaven (Jun 4, 2005)

You can also try area Credit Unions. We did this and only had to deposit $5.00 into a savings account to be join. They were willing to finance 90% of the "blue book" value, which was about $5,000 more than we paid. We ended up with no "down" and financed the trailer, all the hitch gear and sales tax at 5.29%.


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## 2outbacks (Jun 8, 2005)

Thanks all! We were great negotiators....she is coming home tomorrow! TV is at dealer now getting brake controller installed.
20 more hours......


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## wercertifyable (Jun 23, 2005)

Absolutely tell them you can't do the deal as it stands. They have room to negotiate on all areas. My Brother in-law got 2,000 trade-in on something they will probably just send to the crusher. I think a thread helping us comsumers negotiate the best deal possible would be great...................errrr ummmmmm just as long as none of the moderators aren't sales folks, hehehe......are they? Ahem


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