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This site is here to
help you be a better RV consumer. Learn about the sales technique that
could cost you 10's of thousands of dollars.
The old saying "Buyer Beware" means it
if sounds to good to be true it probably is.
To get you into their dealerships and
get you interested in a new or used RV some dealers promote a low
interest rate loan ( 2.9% ) to qualified customers .
This turns out to be one of those
"Buyer Beware" deals. This low interest rate deal
could cost you thousands of dollars over the life of your RV loan.
Here is what happened to me.
A few days after I signed the sales
contract on my new RV I began to feel like I did not actually get the bargain
I thought I had. I shopped around and found that I could have bought the same RV
for a much lower price. But I did have a loan for 2.9% A.P.R. (2.6% below
market loan rates).
What was the catch?
During the sales pitch I asked all the
right questions and I got nice sounding answers from the
dealer. Unfortunately these answers all turned out to be misleading or out
right wrong.
I should have saved a lot of money on
my new RV but something seemed very wrong.
I learned I could have bought this
same RV for $32,000 less up front from another dealer and my monthly payments
would have been the same with a conventional 5.5% loan from my own bank.
Here is the worst part of the deal, if
I decide to sell my RV before the full term of the loan ( I like to get a new
unit within 5 years) it will cost me even more. And I can't even deduct as much
from my taxes as I could with a honest deal from another dealer.
Learn how I got fooled and save
yourself lots of money! Take a close look at My Loan
and see for yourself!
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