Journey with Confidence RV GPS App RV Trip Planner RV LIFE Campground Reviews RV Maintenance Take a Speed Test Free 7 Day Trial ×

Thread Tools Search this Thread Display Modes
Old 03-11-2018, 08:13 PM   #1
2 Rivet Member
2020 25' Globetrotter
Fort Collins , Colorado
Join Date: Apr 2017
Posts: 21
In-house financing requirement

I am looking at new. I have a price quote in writing. The dealer is telling me that I need to finance through their lender as they would get a rebate on my loan. Their initial quote was 6.99 to 7.99% which seems too high. If I bring my own loan or offer to pay cash he tells me the price will be $2,000 higher. Is that a bluff on the dealer's part?
njaspers is offline   Reply With Quote
Old 03-11-2018, 08:29 PM   #2
Rivet Master
TG Twinkie's Avatar
1974 Argosy 26
Morrill , Nebraska
Join Date: Nov 2009
Posts: 6,014
Images: 2
Blog Entries: 5
Walk Away. Then see what happens.
TG Twinkie is offline   Reply With Quote
Old 03-11-2018, 08:47 PM   #3
4 Rivet Member
Baby Zeppelin's Avatar
2018 28' Flying Cloud
Clayton , Georgia
Join Date: Jul 2017
Posts: 399
That interest rate does seem high.

It's been some four months, and rates have gone up, but our dealer quoted 4.49% with 23% down over ten years. The highest rate was 240 months @ 5.49% with 10k down. Middle rate was 180 months @ 5.24% with 10k down.

We went with the lowest rate, as that was what our credit union also quoted, and agreed to stay with that firm for one year. That got our dealer a kick back from their bank and keeps then happy. It was also part of our negotiation that got us a 20% discount on the Airstream.

The plan, in our case, is to pay off the loan after that year is up.

We did the same in buying our F250 TV. Used Ford Finance to get a $750 spiff, then paid off the loan after three months.

You might discuss it further with your dealer. If you can pay off the loan at any time and refinance to get a lower rate, and the interest you pay out over the term you have the higher rate doesn't come to a whole lot, it might not be as bad as it sounds. Depends what all you get in the package....
Baby Zeppelin is offline   Reply With Quote
Old 03-11-2018, 08:53 PM   #4
Dazed and Confused
Isuzusweet's Avatar
Currently Looking...
1983 31' Airstream310
Hillsburgh , Ontario
Join Date: Sep 2012
Posts: 3,805
It is very typical with any automotive financing, that it is in the dealers financial interest to secure financing for the deal, as they make a cut of the deal. The dealer stands to be out $2,000.00 in prospective monies should you secure outside financing.

It's no bluff; the dealer wants that $2G's, however I would either follow TG Twinkie's advice and be prepared to walk away OR and this is a big OR; secure your outside financing at a much lower rate and offer to purchase accessories at the dealership that would partially compensate them for the financing loss. For example, offer to buy an extended warranty, or accessories like an upgraded hitch, better batteries, solar charging system or a generator.

You end up with a trailer with low financing, a bunch of extra's that you'd have to buy anyway, and the dealer is happy to have made up the financial difference.

Everyone wins.

Sidekick Tony
Per Mare, Per Terram and may all your campaigns be successful.

Its a recession when your neighbor loses his job; its a depression when you lose your own. "Harry S Truman"
Isuzusweet is offline   Reply With Quote
Old 03-11-2018, 09:05 PM   #5
Reads a lot
2017 30' Classic
Titusville , Florida
Join Date: Dec 2016
Posts: 1,209
Images: 1
Yikes! I am not a big fan of financing anything other than a house but that’s just me. An Airstream is a toy, it is not required for living, it is a very nice toy. However, if you do finance, please, please look around and get a much better rate, You will save a lot of money in the long run. Credit Unions are a great place to start looking.

She Believed She Could so She Did.
kendrick.l.j is offline   Reply With Quote
Old 03-11-2018, 10:07 PM   #6
Rivet Master
2016 28' International
Sioux Falls , SD
Join Date: Oct 2017
Posts: 576
Interest rate is always negotiable if your credit is excellent.
Get a quote elsewhere and go back to them and ask them to match or watch you walk.
Good luck
2016 Int. Signature 28' w/ ProPride 3P-1400 Hitch
Mich. LTX w/ 16" Sendels, Centramatics
2017 Ram 2500 4x4 Diesel, CG1800 Bed slide, Leer topper
Better to live one day a lion than a lifetime a sheep. Camp hard, camp often
DBinSD is offline   Reply With Quote
Old 03-12-2018, 12:02 AM   #7
Rivet Master

2007 22' International CCD
Corona , California
Join Date: Jul 2013
Posts: 9,090
In-house financing requirement

To me, kickbacks to the dealer from financial organizations tell me a lot about the ethics of the dealer and the financial folks. Not a good sign, IMHO. Just a little too blatant in this case.
Rich, KE4GNK/AE, Overkill Engineering Dept.
'The Silver HamShack' ('07 International 22FB CCD 75th Anniversary)
Multiple Yaesu Ham Radios inside and many antennae sprouting from roof, ProPride hitch, Prodigy P2 controller.
2012 shortbed CrewMax 4x4 Toyota Tacoma TV with more antennae on it.
rmkrum is offline   Reply With Quote
Old 10-23-2022, 06:19 PM   #8
Rivet Master
2020 25' Flying Cloud
Atlanta , Georgia
Join Date: Jan 2014
Posts: 531
Blog Entries: 1
I'm not sure it's a "kickback" if its disclosed. It's pretty much the same as a retailer offerring a discount for cash. Usually they don't tell you they are getting a financial incentive.
Belbein is offline   Reply With Quote
Old 10-23-2022, 06:28 PM   #9
diesel maniac
ITSNO60's Avatar
Airstream - Other
Tucson , AZ
Join Date: May 2017
Posts: 2,137
If you take the loan is there a penalty if you re-finance? Or will there be fees? I'm only asking because it has been decades since I had a loan other than a home mortgage. If there are no financing costs for either loan or no prepayment penalties why couldn't you take their financing then re-finance the following month?
About 15 years ago I inquired about a vehicle I saw at a used car lot that provided financing. When they took me into the office to discuss the price I told them I was paying cash, thinking I'd get a better price. They actually did not want to deal with me when they heard that. It was then that I realized their profit was in the financing and I walked away. Since that time I have only dealt with private sellers or wholesalers.
ITSNO60 is online now   Reply With Quote
Old 10-23-2022, 07:10 PM   #10
Half a Rivet Short
2017 30' Classic
2022 Interstate 24X
Carlisle , Pennsylvania
Join Date: May 2017
Posts: 14,944

I believe the proper term for the fee is "origination fee" rather than "kickback". The lender pays them for finding business and doing some paperwork. It's been a feature of car / truck / boat / plane / RV sales for at least 40 years. There's also a similar process on that "extended warranty" on any of the items mentioned above.

How much is the kickback? I'd bet that it's bigger on a 20% loan than on a 5%.....

uncle_bob is offline   Reply With Quote
Old 10-23-2022, 11:08 PM   #11
Rivet Master
2016 16' Sport
Miami , Florida
Join Date: Aug 2016
Posts: 1,428
Ask if there is an early payoff penalty. If not just pay it off after taking possession. I just was in the same position with a new Jeep purchase. The dealer insisted on financing at the price negotiated. I paid it off the next day. The dealer got their money and I got my price.
Shiny16 is offline   Reply With Quote

« Extended Warranty | Top | - »

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
Natures Head power requirement steveirving Waste Systems, Tanks & Totes 12 11-14-2015 04:37 PM
Amp Requirement Hans627 Electrical - Systems, Generators, Batteries & Solar 5 04-14-2015 09:08 PM
Multi Axle Tire Pressure Requirement dbj216 Tires 11 07-02-2014 06:27 PM
generator amp requirement for 25' safari jetjocky Electrical - Systems, Generators, Batteries & Solar 1 08-29-2011 06:51 PM

Featured Campgrounds

Reviews provided by


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 08:37 AM.

Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2023, Jelsoft Enterprises Ltd.