Free 7 Day Trial RV GPS App RV Trip Planner Campground Reviews RV Maintenance Free 7 Day Trial ×
 


Reply
 
Thread Tools Search this Thread Display Modes
 
Old 07-18-2004, 12:32 PM   #1
BBQ'd twinkies
 
KimW's Avatar
 
1994 25' Excella
Reno , Nevada
Join Date: Jul 2004
Posts: 29
Cool Airstream financing

I was wondering where I should go to finance my airstream? We ordered it the other day and won't get it for a few months, so we have time to get financing. We don't trust the dealer to get us the best rate, so does anyone know where to get the best financing with excellent credit?

Thanks!
KimW is offline   Reply With Quote
Old 07-18-2004, 12:38 PM   #2
Aluminut
 
Silvertwinkie's Avatar
 
2004 25' Safari
. , Illinois
Join Date: Feb 2003
Posts: 10,476
You can try a bank, but Thor Credit, which is the financing arm of the parent company of Airstream was fairly competitive. Maybe not the best, but surely not far from the pack and it's fairly hassle free.

Rates have gone up, but your best ammo is to shop around before placing your order. Some dealers when the know they are being shopped tend to be a bit more agressive in the price/package or they simply walk.

In your case, I would get the rates from the dealer you chose and compare to other institutions. The nice thing about going through the manufac financing is that they have all the info and RV value knowledge, where a bank or other place, it could be fairly foreign, but not impossible.
Silvertwinkie is offline   Reply With Quote
Old 07-18-2004, 12:44 PM   #3
BBQ'd twinkies
 
KimW's Avatar
 
1994 25' Excella
Reno , Nevada
Join Date: Jul 2004
Posts: 29
Will try thor

Thank you! I will try Thor right away and ask the dealer what thier rates are!! You've already helped me.



Quote:
Originally Posted by Silvertwinkie
You can try a bank, but Thor Credit, which is the financing arm of the parent company of Airstream was fairly competitive. Maybe not the best, but surely not far from the pack and it's fairly hassle free.

Rates have gone up, but your best ammo is to shop around before placing your order. Some dealers when the know they are being shopped tend to be a bit more agressive in the price/package or they simply walk.

In your case, I would get the rates from the dealer you chose and compare to other institutions. The nice thing about going through the manufac financing is that they have all the info and RV value knowledge, where a bank or other place, it could be fairly foreign, but not impossible.
KimW is offline   Reply With Quote
Old 07-18-2004, 12:48 PM   #4
BBQ'd twinkies
 
KimW's Avatar
 
1994 25' Excella
Reno , Nevada
Join Date: Jul 2004
Posts: 29
THor contact info?

HOw do i contact Thor?


Quote:
Originally Posted by KimW
Thank you! I will try Thor right away and ask the dealer what thier rates are!! You've already helped me.
KimW is offline   Reply With Quote
Old 07-18-2004, 02:25 PM   #5
Aluminut
 
Silvertwinkie's Avatar
 
2004 25' Safari
. , Illinois
Join Date: Feb 2003
Posts: 10,476
If it is an Airstream Authorized dealer, then they should have that info on hand. They also might have a few other lenders to share.

If they don't, PM me and I'll send you the customer service number for Thor financing and perhaps they can get you in the right direction.

I would check with the dealer first though (if they are an authorized Airstream sales center), odds are, they have the info.

Also keep in mind that when you do finance the coach, it is considered under the current tax code as a second home meaning that most if not all the interest on the loan is tax deductible-- still, you are paying out of pocket monthly, so getting a good rate is still important.

Eric
Silvertwinkie is offline   Reply With Quote
Old 09-14-2004, 01:15 PM   #6
Tom, the Uber Disney Fan
 
Minnie's Mate's Avatar
 
2006 30' Safari
Orlando , Florida
Join Date: Aug 2004
Posts: 4,693
Images: 7
We looked at a new unit this past week end. We are just in the window shopping mode now since I have to make a decision for a tow vehicle first. The salesman said he would have to have 25% down before he would place the order. Is that the standard amount on a new purchase? What percent should we expect to have to put down on a new unit? What if financed through Thor? Afterall, wouldn't the dealer be getting his full amount including our downpayment up front? Also, how much should we put down if we finance through another bank? What would be the usual term of the loan if financed through Thor or other bank?
Minnie's Mate is offline   Reply With Quote
Old 09-14-2004, 04:07 PM   #7
3 Rivet Member
 
Join Date: Jan 2004
Posts: 128
If possible, consider a home equity loan.
__________________
Neil Ervin
neil.ervin is offline   Reply With Quote
Old 09-14-2004, 04:08 PM   #8
Aluminut
 
Silvertwinkie's Avatar
 
2004 25' Safari
. , Illinois
Join Date: Feb 2003
Posts: 10,476
Any dealer that wanted 25% down, I would walk (having a good credit score).

We placed a $500 deposit on a special order unit and we could have financed the entire balance including tax, title, etc.

As for going with a home equity loan, the perks are the same no matter which you use. The interest is deductable as a second home if you go through straight factory financing and the interest on a home equity is also tax deductable.

I found the interest rates farily similar, so to me the only way it would make sense to go the home equity route is if you could get a lower rate and not pay a bunch of fees. Using the factory financing, there are no finance fees (per se), just interest.
Silvertwinkie is offline   Reply With Quote
Old 09-14-2004, 04:14 PM   #9
Rivet Monster
 
wahoonc's Avatar

 
1975 31' Sovereign
1980 31' Excella II
Sprung Leak , North Carolina
Join Date: Jun 2003
Posts: 7,173
Images: 40
$$

Pay cash...buy a vintage unit FWIW $500 is a reasonable deposit for a special order. I special order vehicles fairly often, and have never been asked for a deposit over $1000. Most of the time there is no deposit required at all. Sounds like they are not wanting to do special orders to me.

Aaron
__________________
....so many Airstreams....so little time...
WBCCI #XXXX AIR #2495
Why are we in this basket...and where are we going
wahoonc is offline   Reply With Quote
Old 09-14-2004, 04:35 PM   #10
Cartoon Character
 
Porky Pig's Avatar
 
2004 34' Classic
On The Road , U.S.A.
Join Date: May 2002
Posts: 885
Images: 10
25% down for a special order is waaaaaay too high.

When we ordered our 34 Classic from Toscanos ... I gave them a $1,000 deposit ... and used a credit card. We did all of this over the phone ... after one face-to-face meeting at the dealership several months earlier.

They trusted me ... and I trusted them.

As for financing ... they were able to match the lowest rate I could find ... with 90% financing.

Petunia and I feel that we received a great deal and were treated royally by the dealership. They have been rewarded with additional business from folks that I have sent to them.
__________________
Porky

TrailerGypsies.com
WBCCI #3405 Escapees #80360

I live the life I love and I love the life I live.
-- Willie Dixon
Porky Pig is offline   Reply With Quote
Old 09-14-2004, 04:37 PM   #11
Moderator
 
jcanavera's Avatar

 
2004 30' Classic Slideout
Fenton , Missouri
Join Date: Mar 2002
Posts: 9,972
Images: 143
Send a message via AIM to jcanavera Send a message via Skype™ to jcanavera
My last two have been ordered units. I think the most I had down was $500. The first trailer was financed through Good Sam and the current trailer is through Thor Credit who offered a better rate.

Home equity loans are ok on items that normally aren't allowed an interest deduction under normal credit loans. An automobile for example might be better under a home equity due to interest deductions.

The bad side of home equity loans are that many have floating interest rates. That's a gamble unless you are getting a good low rate in the early years when the interest costs are the greatest.

The other bad side is that you have put your home in hock. I used to be in banking and when home equities first came out we talked about how folks could lose their home if they defaulted on the payment that in essance was an auto loan. Most folks can possibly keep the home mortgage payment up but add to it a home equity loan and you are in big trouble if you lose a significant portion of your income. I figure let them foreclose on the trailer, at least I keep the roof over my head.

Jack
__________________
Jack Canavera
STL Mo.
AIR #56 S/OS#15
'04 Classic 30' S.O.,'03 GMC Savana 2500,'14 Honda CTX 700
jcanavera is offline   Reply With Quote
Old 09-14-2004, 08:27 PM   #12
Rivet Master
 
silverback's Avatar
 
2006 28' Safari SE
Currently Looking...
Colorado Springs , Colorado
Join Date: Jun 2003
Posts: 703
We've use Thor twice. The 2nd time, when we ordered and upgraded, may have required a phone call or two to help the various departments understand the details (one loan gets paid off and we start a new one...). And they have been slow twice sending the payment coupon book (so we usually made a payment or two without it). I guess I'm saying they're a bit bureaucratic... Pretty good rates though.
Ken
__________________
4CU Charter Member
silverback is offline   Reply With Quote
Old 09-15-2004, 06:50 AM   #13
Tom, the Uber Disney Fan
 
Minnie's Mate's Avatar
 
2006 30' Safari
Orlando , Florida
Join Date: Aug 2004
Posts: 4,693
Images: 7
Thanks for all the tips guys. I agree that I don't like the idea of a home equity loan for the reasons that jcanavera gave.

I thought 25% seemed rediculous on a new coach...either it is worthy collateral for the MSRP less a reasonable down payment (say 10%) or they aren't. At the point that we were quoted the 25% down, we had told the salesman up front that we were window shopping on this visit and weren't ready to buy until after we upgraded our tow vehicle, but we wanted to see the Safari bunkhouse they had on their lot. We never even went into the showroom building, we just looked at the units on the lot and the salesman came back out to "check" to see if we had any questions he could answer. When my wife asked about other interior color schemes for the bunkhouse, he started his "presentation" that included the deposit bomb. I could see that much if financing an older coach. We were considering an older coach that we could pay cash for, but when it comes to being handy I have two left hands that have all thumbs on them and we wanted a TT we could start using from the start without first undergoing a restoration project or having to worry if the a/c would go out on the first summer trip or if the fridge would quit on a week long trip, etc.

As for walking, as far as I have been able to find out, Atlanta Auto Brokers is the only Airstream Dealer in Georgia. (BTW, they also seem to be a used car dealer if that explans the attempt to get the huge deposit.) I would be willing to go to a dealer in an adjoining state if they weren't too far away, say Birmingham, Montgomery, Chatanooga, etc. Any recommendations?
Minnie's Mate is offline   Reply With Quote
Old 09-15-2004, 07:42 AM   #14
Aluminut
 
Silvertwinkie's Avatar
 
2004 25' Safari
. , Illinois
Join Date: Feb 2003
Posts: 10,476
Use the Internet. If you are going to buy an RV, it means you're willing to travel. Look at it as your first camping trip.

We have one dealer here in Illinois. I found 2 other dealers within 300 miles using the web and wound up buying from one 300 miles away. There are some that have traveled further for the right deal.

http://www.airstream.com/dealer_locator/index.html
Silvertwinkie is offline   Reply With Quote
Old 09-15-2004, 12:00 PM   #15
Tom, the Uber Disney Fan
 
Minnie's Mate's Avatar
 
2006 30' Safari
Orlando , Florida
Join Date: Aug 2004
Posts: 4,693
Images: 7
Thanks for the link. Now if I just knew the zip codes for Birmingham, Montgomery, and Chatanooga!
Minnie's Mate is offline   Reply With Quote
Old 09-15-2004, 12:16 PM   #16
2 Rivet Member
 
Diesel Pusher's Avatar
 
Join Date: Oct 2003
Posts: 46
Quote:
Originally Posted by Minnie's Mate
Thanks for all the tips guys. I agree that I don't like the idea of a home equity loan for the reasons that jcanavera gave.

I thought 25% seemed rediculous on a new coach...either it is worthy collateral for the MSRP less a reasonable down payment (say 10%) or they aren't. At the point that we were quoted the 25% down, we had told the salesman up front that we were window shopping on this visit and weren't ready to buy until after we upgraded our tow vehicle, but we wanted to see the Safari bunkhouse they had on their lot. We never even went into the showroom building, we just looked at the units on the lot and the salesman came back out to "check" to see if we had any questions he could answer. When my wife asked about other interior color schemes for the bunkhouse, he started his "presentation" that included the deposit bomb. I could see that much if financing an older coach. We were considering an older coach that we could pay cash for, but when it comes to being handy I have two left hands that have all thumbs on them and we wanted a TT we could start using from the start without first undergoing a restoration project or having to worry if the a/c would go out on the first summer trip or if the fridge would quit on a week long trip, etc.

As for walking, as far as I have been able to find out, Atlanta Auto Brokers is the only Airstream Dealer in Georgia. (BTW, they also seem to be a used car dealer if that explans the attempt to get the huge deposit.) I would be willing to go to a dealer in an adjoining state if they weren't too far away, say Birmingham, Montgomery, Chatanooga, etc. Any recommendations?

Minnie's Mate:

I live in Decatur, and went to their store about a year ago out on Thornton Road. I had just bought my trailer on Ebay and figured I would take it there to get some things fixed on it. Well, they don't even have a tech who can work on them and they have no shop per se'. They basically sell high end used cars off of leases. Now that I have had my rig for a year, my wife wants to trade it in on a new one. I have contacted a dealer in Greensboro, NC and am waiting to hear back from them. They came highly recommended by the folks at the Jackson Center. Said they had been an Airstream dealer for about 30 years. I need to know how long they can be financed. I like the idea of deducting the interest, but don't want it tied up in my home equity. I checked in Florida and they have a ton of dealers, but I don't want to drive down there right now. Good luck in your search, if you want me to share what I learn from the folks in NC, PM me.

Thanks,

Rob.
__________________
1977 A/S Excella 500, 31 foot
2001 2500 HD D/A 4X4, Ext. cab, Victory Red.
Diesel Pusher is offline   Reply With Quote
Old 09-15-2004, 12:27 PM   #17
Aluminut
 
Silvertwinkie's Avatar
 
2004 25' Safari
. , Illinois
Join Date: Feb 2003
Posts: 10,476
Quote:
Originally Posted by Minnie's Mate
Thanks for the link. Now if I just knew the zip codes for Birmingham, Montgomery, and Chatanooga!
You can get zip codes here:

http://zip4.usps.com/zip4/welcome.htm

Silvertwinkie is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
The Agony And The Ecstasy Of Airstream Ownership - 2004 Classic flyfisher 2001 - 2005 Classic 33 07-27-2005 06:45 PM
2005/2006 International Rallies Over59 WBCCI Rallies & Events 21 06-24-2004 10:55 AM
Where do you shop for Airstream stuff? cwbastian Commercial Listings 4 05-16-2004 01:30 PM
airstream! airstream! airstream! 83Excella Our Community 0 03-23-2002 10:37 PM


Featured Campgrounds

Reviews provided by

Disclaimer:

This website is not affiliated with or endorsed by the Airstream, Inc. or any of its affiliates. Airstream is a registered trademark of Airstream Inc. All rights reserved. Airstream trademark used under license to Social Knowledge LLC.



All times are GMT -6. The time now is 08:07 PM.


Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2021, Jelsoft Enterprises Ltd.