Airstream financing

[Ronman]

I could use some help. I am looking into financing for a future purchase of an Airstream. I am seeing that lenders use NADA as their guideline for value. I am also noticing that Airstreams are selling for more than the NADA value so therefore I would need to come in with the difference in down payment. Not that it is the end of the word, but I would like to have a better handle on the finance side of things. Am I missing something?

The New Guy

[Road Geezer]

Off hand, I'd suggest talking with a local AS dealer to find out who they use for financing. You may find their financing source more understanding about AS's value.

[ROBERTSUNRUS]

Hi, if you are buying this trailer from a dealer, it shouldn't be a problem. But if you are buying it from a private party, it could be difficult.

[TBRich]

We financed ours through the dealer at a pretty good rate... If you are buying a used rig from a private party other than from a dealer and want to finance it, you may try your bank or a local credit union. I'd do some research and present comparable selling prices to use as basis of financing rather than NADA because the latter is usually not accurate for Airstreams.

[Ronman]

Thank you for the solid advice, Everyone. I appreciate your thoughts. It's not easy buying an Airstream!! But...as they say...nothing worthwhile is easy!

Thanks again,

New Guy!

[polarlyse]

Hey NG, if it was easy everyone would do it.

[srpuywa]

My bank - financed 100% of a used 2012 Airstream - get prequalified for a no- suprise loan

[Skylar]

RV Lenders typically finance between 100%-130% of the Wholesale value with NO AD Ons or Base Book as we like to call it in the industry.

If the unit has a base book of $20,000 the bank could finance as much as $26,000 Best case.

Say the unit was being sold for $30,000 you would need to put $4,000 Down to make up the difference.

Some banks allow the tax, title & license fees to be added on separate.


NADA is the worst when it comes to AS Trailers. But its all the industry uses

[daveswenson]

The problem is once the trailer hits 5 years old the NADA value plummets. At that point it becomes difficult to buy without a substantial down. In my case I ended up putting less down and getting a better rate buying new from the dealer.

[mschroeder]

I checked NADA guide on Airstreams and was given a price range considerably different from what the dealer was asking. I asked the dealer to explain the difference. He said, "NADA uses a % on all RV's to determine value. We use Market value." And then he went on to talk about the differences in "life spans" of various RVs. So I contacted NADA about this and here is their response: “We are aware that Airstream is a popular RV and we have been reviewing pricing on Airstream for quite some time and we are continually working with dealers to get them to send us data to support the higher prices on these units. Unfortunately, we got very little response from the dealers and without data from them, we can only make minor adjustments. We did make some adjustments, but this is a work in progress. That is why you are seeing dealer pricing higher than us.”

[m.hony]

I tried to buy a used Airstream and could not because of the difference in book value and what the seller wants.
If you have cash it is up to you to decide whether the Airstream is worth what the seller is asking.
If you are borrowing money you will still have to have a $10,000 down payment because no lender will loan you more than book value.
If you don't have the down payment or a trailer to trade in it just sin't gonna happen.
You cannot trade in your trailer to an individual, so unless you are buying from a dealership that won't work. You would have to sell your trailer first.
If you already have an RV loan, no lender will give you a 2nd RV loan. You have to either sell your trailer or trade it in.
That is why I ended up buying a new trailer and trading my old trailer in for the down payment.
Strange how this works out.
Sometimes this applies to cars as well.
In the long run a new one and a used one cost the same because you get a lower interest rate on a new one.
I think on cars the best bang for the buck is a car that is 1 year old- nearly new but $10,000 less than a new one. Any older and they seem to have more miles but cost almost as much.

[Ronman]

Nailed it, Hony. We bought used and got a good deal but still put $10,000 down. That was my intent anyway for payment purposes. I'll still pay it off in 2 years but I am still bugged by NADA and their ridiculous valuation of Airstreams. There needs to be a better appraisal service for RV's in general. Hmmmmm....business opportunity?? ;-)