Honorman
Arkansas
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Joined: 10/21/2007
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I think Will_Robinson says it all,
Plus NEVER NEVER NEVER borrow againest your home to buy a RV. put up something else if you have to.
but I would not even do that,
The bank will have you over a barrel that way and you could lose your home.
Rv values drop like a rock, everyone knows that, and to many things can happen, so you might wind up with nothing to live in,
(home or RV )
Ed. P.S. from being in real estate 35 years as builder and realtor.
 1997 Holiday Rambler 32.5 Ft Class A Motohome 1987 Porsche Toad on dolly for now
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Lariat trucker
Sticksville, TX
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Joined: 11/18/2005
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Well we shopped till we dropped today. I think we are going to take a road trip next week. The locals have nothing that excites us. The Cruise the Coast in Gulfport, MS is in two weeks so maybe a trip to Tiffin might help us.
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Bill S.
Indian River, Delaware
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Joined: 03/06/2001
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Honorman wrote:I think Will_Robinson says it all,
Plus NEVER NEVER NEVER borrow againest your home to buy a RV. put up something else if you have to.
but I would not even do that,
The bank will have you over a barrel that way and you could lose your home.
Rv values drop like a rock, everyone knows that, and to many things can happen, so you might wind up with nothing to live in,
(home or RV )
Ed. P.S. from being in real estate 35 years as builder and realtor.
Why not use some of your equity, instead of your cash? Suppose you have a home worth 500,000 (current market), have a 50k mortgage balance, and 200k in the bank. So why not re-fi with 100k cash out, and have a 150k mortgage, and keep your cash in the bank? Is that any different from someone who has a 500k home with a 150k mortgage, and is not buying a motorhome?
Bill, (aka Capt.Bill)
Indian River, De
2002 Horizon 36LD, Cat 330
Practicing retirement! 
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Jamesrpm
Oregon Coast
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Joined: 08/30/2003
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Kirbymurphy wrote "What kind of rate did the RV dealer offer? If they're like car dealers they will quote you a rate of say, 10% when they can place the loan for 8%, pocketing a huge profit. "
Since when is 2% a "huge" profit?
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kirbymurphy
garage
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Joined: 04/16/2009
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Jamesrpm wrote:Kirbymurphy wrote "What kind of rate did the RV dealer offer? If they're like car dealers they will quote you a rate of say, 10% when they can place the loan for 8%, pocketing a huge profit. "
Since when is 2% a "huge" profit?
When it's coming out of your pocket, especially for no good reason other than they took advantage of an unprepared customer..
It's not simply 2% of $100,000. It's a split of the total interest agreed upon between the lender and the dealer. The amount could easily be $4K or $5K for the dealer, sometimes more than he makes on the sale of the coach.
$100K @ 10% is $1310 for 10 years..$57,200 in interest at term
$100K @ 8% is $1206 for 10 years..$44,700 in interest at term
$104 higher payment and $12,500 more interest
Which rate would you like to pay?
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Nascarcruzin
Home is where the RV is parked.
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I agree with Honorman, never borrow against your house to buy a RV. I am sure if you keep looking you will find the financing you want. Good Luck, Ronnie
Ronnie & Rebecca
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Lariat trucker
Sticksville, TX
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We have made the decision to go with what Capital one has offered and forget the home equity loan. We don't like putting a mortgage back on the house after we worked so hard to pay it off.
Has anyone taken a tour of the Tiffin Plant? We have been to both Monaco and Newmar but are seriously considering taking a trip to Tiffin. How much advanced notice do we need to give to them to tour the facility?
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Tulirose
Long Island, New York
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Joined: 03/06/2005
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No advance notice at all to tour the factory. Just show up. The morning one is at 10 with Red and then there is one in the afternoon at, I think, around 2. Go with the morning one.
We've toured the plant three times. In 2007 they were putting out 14-15 units a day. In February this year, they were down to 3. We returned again in August and they were up to 4 units a day.
FWIW, the only other factory we toured was Fleetwood in Pennsylvania back in 2005. Fleetwood factory floor was spotless. Tiffin was a mess first time around, better this year both times but still not as neat as Fleetwood was.
Good luck and lots of fun in picking out your new RV.
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2007 Tiffin Phaeton 35DH
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Nascarcruzin
Home is where the RV is parked.
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We enjoyed the Tiffin, as we did the Monaco and Winnebago tours. Red is a real treat.
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Lariat trucker
Sticksville, TX
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Thanks Tullrose & NASCARCruzin for your input sounds like a morning tour is the way to go. We met Red several years ago and he was a treat to talk to back them it's good to hear he still has the same personality.
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