Duramax Diesels Forum Truck of the Week
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Old 07-05-2018, 09:30 AM
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Default Question for salesmen!!!

So Iím buying a Jayco trailer and the monthly premium seems pretty steep. I did opt for an extended warranty that was $18 a month extra bring the grand total to $232/144mo.
That seems pretty steep for a $18.5k sticker price and 6.8% interest. My credit is only a few points from maxing out so that isnít a factor in specific regards to the high payment. My question is simple....why am I paying 12k in interest and taxes in Idaho and with the extended warranty Iím right at 15k? That seems awfully high and almost insulting.

I havenít signed squat on it or even picked it up but I know if I ask their salesman they will probably give me the lip treatment to keep me from leaving and getting a Hideout RV (cause I already said I would with their first sticker price offer)


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2008 LMM :SOLD 2/18
4" MBRP TB AXLE DUMP, EFI IDAHO ROB, PPE RAIL PLUG, S&B AIR, PPE TRANS COOLER, FLEECE TRANS LINES, AIRDOGG 165, EDGE CTS, KRYPTONITE STEERING RODS AND KRYPTONITE IDLER, COGNITO STEERING BRACES, COGNITO DIFF MOUNT, BARS TURNED DOWN AND DROP SHACKLES ON REAR, ALL OTHER PM (REROUTES AND DELETES) PAINT PAINT PAINT

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5" TB EXHAUST, FASS LIFT PUMP, PPE TUNE, PUMP RUB, MOUTHPIECE, PAINT PAINT AND PAINT
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Old 07-05-2018, 09:40 AM
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That 6.8% is killing you ESPECIALLY for 12 years. That’s insane. My truck is financed for 18k for 7 years at 3.75% and it’s $250 a month
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Old 07-05-2018, 10:09 AM
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That's probably the worst deal you could ever fall in to.

Never tell a salesman how much a month you want to be at, just get a final price OTD and you'll decide if you can afford it.

And try to get financed through a local bank, not the dealer. Some places will try and rake over the coals no matter how good your credit it. You probably won't get awesome rates regardless of the bank though, recreational stuff is always higher than autos. When people lose their jobs, that's what they stop paying on first
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Last edited by PureHybrid; 07-05-2018 at 10:14 AM.
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Old 07-05-2018, 10:26 AM
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Contact ICCU (Idaho Central Credit Union). They have the lowest rates in the state for auto & RV loans.

What Jayco you getting?
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Old 07-05-2018, 10:29 AM
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interest rate and 144mo is doing you in. look at a 7 or 5 year and see what they will do for interest rate. Id also shop around for loans like Jesse said. I went in to buying ours with a backup if the dealer would not get me the rate/term/payment i wanted. I also over pay my payment as at that time, going a shorter term made very little difference in rate percentage.

When we bought my wifes Canyon, it was 14k and we did it through a local credit union. 4 years at 2% with a 330 payment per month. this was back when interest rates were WAY low though. a 6 year was almost 3.5%.

same thing we did on our house. re-fi'ed to a 15 year loan from our 30, shortened us up 10 years in payments, lowered rate over 1% and monthly payment hardly increased.
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Old 07-05-2018, 10:51 AM
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Never finance something you haul or drive for more than 4-5 years,and try to put as much down as you can I usually try to finance for 2-4 years as interest is lower and it’s paid off before it’s junk.
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Old 07-05-2018, 12:18 PM
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Quote:
Originally Posted by WVRigrat05 View Post
Never finance something you haul or drive for more than 4-5 years,and try to put as much down as you can I usually try to finance for 2-4 years as interest is lower and itís paid off before itís junk.
X2!
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Old 07-05-2018, 02:27 PM
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Quote:
Originally Posted by BoiseRob View Post
Contact ICCU (Idaho Central Credit Union). They have the lowest rates in the state for auto & RV loans.



What Jayco you getting?


SLX 28í if I donít back out


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2008 LMM :SOLD 2/18
4" MBRP TB AXLE DUMP, EFI IDAHO ROB, PPE RAIL PLUG, S&B AIR, PPE TRANS COOLER, FLEECE TRANS LINES, AIRDOGG 165, EDGE CTS, KRYPTONITE STEERING RODS AND KRYPTONITE IDLER, COGNITO STEERING BRACES, COGNITO DIFF MOUNT, BARS TURNED DOWN AND DROP SHACKLES ON REAR, ALL OTHER PM (REROUTES AND DELETES) PAINT PAINT PAINT

2004.5 LLY :SOLD 2/15
5" TB EXHAUST, FASS LIFT PUMP, PPE TUNE, PUMP RUB, MOUTHPIECE, PAINT PAINT AND PAINT
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Old 07-05-2018, 02:32 PM
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Quote:
Originally Posted by Chevy1925 View Post
interest rate and 144mo is doing you in. look at a 7 or 5 year and see what they will do for interest rate. Id also shop around for loans like Jesse said. I went in to buying ours with a backup if the dealer would not get me the rate/term/payment i wanted. I also over pay my payment as at that time, going a shorter term made very little difference in rate percentage.

When we bought my wifes Canyon, it was 14k and we did it through a local credit union. 4 years at 2% with a 330 payment per month. this was back when interest rates were WAY low though. a 6 year was almost 3.5%.

same thing we did on our house. re-fi'ed to a 15 year loan from our 30, shortened us up 10 years in payments, lowered rate over 1% and monthly payment hardly increased.

I wanted to do a 15 fixed rate on my house but everyone I know talked me out of it and said make an extra payment once a year and then itís a 20 year loan.

Iím gonna see what other deal they can sling on a smaller term. I didnít necessarily opt for 12 but it was the option they called and told me about but Iím thinking if I do a 7 year warranty I might as well get a 7 year loan.


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2008 LMM :SOLD 2/18
4" MBRP TB AXLE DUMP, EFI IDAHO ROB, PPE RAIL PLUG, S&B AIR, PPE TRANS COOLER, FLEECE TRANS LINES, AIRDOGG 165, EDGE CTS, KRYPTONITE STEERING RODS AND KRYPTONITE IDLER, COGNITO STEERING BRACES, COGNITO DIFF MOUNT, BARS TURNED DOWN AND DROP SHACKLES ON REAR, ALL OTHER PM (REROUTES AND DELETES) PAINT PAINT PAINT

2004.5 LLY :SOLD 2/15
5" TB EXHAUST, FASS LIFT PUMP, PPE TUNE, PUMP RUB, MOUTHPIECE, PAINT PAINT AND PAINT
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Old 07-05-2018, 02:42 PM
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Quote:
Originally Posted by Novak View Post
Iím gonna see what other deal they can sling on a smaller term. I didnít necessarily opt for 12 but it was the option they called and told me about but Iím thinking if I do a 7 year warranty I might as well get a 7 year loan.
Don't forget to claim the income tax deduction since the loan is considered a mortgage on a vacation home....
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Old 07-05-2018, 03:30 PM
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Quote:
Originally Posted by Novak View Post
I wanted to do a 15 fixed rate on my house but everyone I know talked me out of it and said make an extra payment once a year and then itís a 20 year loan.

Iím gonna see what other deal they can sling on a smaller term. I didnít necessarily opt for 12 but it was the option they called and told me about but Iím thinking if I do a 7 year warranty I might as well get a 7 year loan.


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yup, jumping the payment works accept you still get that higher interest accrued monthly. I lost PMI when i switched to the 15 year so that helped a good amount in my monthly payment. not going to give them damn banks more than i need to

that would depend. these fricken things are rolling earthquakes. if you really plan to own it that long, the extended warranty isnt a bad idea but how far are you from a service center? whats the deductable? doesnt it cover? I had just the factory 2 year warranty on mine but fixed alot of issues myself if i could. always seemed to be a pain to get the trailer to them to be worked on.

when/if you do get it, pull a wheel hub with a brake on it soon as you can. Lippert chassis does 90% of these new trailers now and between Lippert, the the trailer mfg and dealer PDM done on the trailer, they wind up overpacking the hubs with grease through the easy lube zerk and then blowing the back seal out. it gets all over the mag, shoes and drum and ruins them. not cheap to replace all those parts either. My trailer, my brothers, and about 4 other friends all had this issue on brand new toy haulers along with a long list of guys on the FB group pages.
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Quote:
Originally Posted by JoshH View Post
Mike L is my role model. I want to be like him when I grow up.
James

02 LL7 2500HD CC/LB dmax/alli "The Limo"

BIG THANKS TO: Mike L, Steve, Trent, Guy, Dan, Ruben, Josh H, Scott, Brian and everyone else who has put a hand in to help me.

best time to date: 12.39

motor died/bent rods = 3/11/11
back from the dead 7:04pm 4/9/2012

Limo is back in the garage, now driving a built chevy tracker
Tailgate Crew Member #4
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  #12  
Old 07-05-2018, 06:02 PM
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When I by a rv I come in with my own finances. And screw that extended warranty. If I'll break it will do in the first year. Also I only do 3 year notes.
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Old 07-07-2018, 02:01 PM
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Quote:
Originally Posted by Chevy1925 View Post
yup, jumping the payment works accept you still get that higher interest accrued monthly. I lost PMI when i switched to the 15 year so that helped a good amount in my monthly payment. not going to give them damn banks more than i need to



that would depend. these fricken things are rolling earthquakes. if you really plan to own it that long, the extended warranty isnt a bad idea but how far are you from a service center? whats the deductable? doesnt it cover? I had just the factory 2 year warranty on mine but fixed alot of issues myself if i could. always seemed to be a pain to get the trailer to them to be worked on.



when/if you do get it, pull a wheel hub with a brake on it soon as you can. Lippert chassis does 90% of these new trailers now and between Lippert, the the trailer mfg and dealer PDM done on the trailer, they wind up overpacking the hubs with grease through the easy lube zerk and then blowing the back seal out. it gets all over the mag, shoes and drum and ruins them. not cheap to replace all those parts either. My trailer, my brothers, and about 4 other friends all had this issue on brand new toy haulers along with a long list of guys on the FB group pages.


The deductible is paid up to $1000 for any damage and the warranty is bumper to bumper with no price caps. The coverage also applies to the tow vehicle, if the trailer causes a blow out itís covered, if the hitch snaps and send that trailer into my truck itís also covered. That isnít two separate packages itís all one 7 year care plan for $18 along with lifetime services every winter and an inspection for the length that I own the trailer.

Iím strong arming the dealer right now. Basically told them how it is. They filled it up and I bailed on the walk through and signing. Not the type of operator I am but itís my bank account and Iím sure they donít pay my bills and I felt as if I needed to educate myself more. After going through the paperwork process I have 10x the amount of concerns than prior so my gut said to reach out to others.
I appreciate everyoneís input. Iím honestly gonna shoot for a 7 years at 5% ish or else no deal


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2008 LMM :SOLD 2/18
4" MBRP TB AXLE DUMP, EFI IDAHO ROB, PPE RAIL PLUG, S&B AIR, PPE TRANS COOLER, FLEECE TRANS LINES, AIRDOGG 165, EDGE CTS, KRYPTONITE STEERING RODS AND KRYPTONITE IDLER, COGNITO STEERING BRACES, COGNITO DIFF MOUNT, BARS TURNED DOWN AND DROP SHACKLES ON REAR, ALL OTHER PM (REROUTES AND DELETES) PAINT PAINT PAINT

2004.5 LLY :SOLD 2/15
5" TB EXHAUST, FASS LIFT PUMP, PPE TUNE, PUMP RUB, MOUTHPIECE, PAINT PAINT AND PAINT
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  #14  
Old 07-07-2018, 04:50 PM
kheims kheims is offline
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I’m just gonna leave this here.

Debt is dumb. CASH is KING


Sorry guys we have turned over a new leaf here we will never buy anything on debt ever again. Our next truck and camper is going to be paid for in cash. Sorry salesmen that’s the way it’s going to be.
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Old 07-07-2018, 07:57 PM
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Until you find out that financing usually gets you a better deal, more incentives. Dealer gets the same cut cash or not. Take the loan and do an early payoff (only if there's no fees of course)
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I can't complain, but sometimes I still do
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