Newell Gurus

As Ernie mentioned, Incredible Bank truly understands the coach financing world. They actually have a Prevost and active pursue coach lending.

Incredible will loan on a Prevost to twenty years old. Jan 1st it will change to 2001 and up. But on a Newell only to 12 years, 2008.  I had this discussion with Incredible last month.

"We can go back to 2008 on Newell coaches typically.
 
We like to see 20% down on use units."

We still haven't found the coach that fits us, so I haven't asked if they would finance with more down.  I need to ask that question.  Seems like a large disparity in years.  Then again maybe they don't know Newell market like they do the Prevost market.  They won't even loan on a Bluebird, but Voyager will.

The financing question has come up before. MOT (Motorhomes of Texas) in Nacogdoches TX has had in the past a few options for financing on their owned and consignment units. If they have something you're interested in or to find out who they use it might be worth calling them and speak to Mel (sales manager) or Jason (general manager).

I looked for a long time for the right coach in my price range
the place to go for a loan for a ten year or older coach is usaa
as long as yourself or someone in your family was in the service you qualifty
had a loan in no time

Truman, can you share a little more info with us, such as...year of your Coach, term of the loan, was the loan for value or a percentage of what you paid?

Thanks!

A caveat to Truman's post about USAA, they, like many others will not touch a "Full Time" coach.

I too have been looking for a newell for a year or so. Yes, sellers absolutely do overprice their rigs when first put on the market. You can watch the price drop drastically month after month. I guess that the practice is so overused now that it's the only way these RVs get listed nowadays. Gone are the days of just listing it right off the bat for a fair price nearer your bottom dollar. Now we have to wade through these ridiculously priced coaches and wait for them to drop into a value range that we know is reasonable. I guess owners like to sit on unsold coaches for month and months?

We used a home equity loan to get ours.

Another thing to consider is the difficulty in finding qualified shops to work on older motorhomes, so that reduces the pool of available buyers too.

Then, there is the inevitable Easter egg hunt to find replacement parts that fit . . . . . .

We LOVE our 33 year old coach !!!!!