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Buying a Wanderlodge, a Bluebird or any RV Ready to take the plunge or looking to upgrade and you have questions? Folks are standing by ready to help.

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  #1  
Old 01-28-2013
Mastercraft2010 Mastercraft2010 is offline
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Does anyone have fairly recent knowledge about financing a mid 80's wanderlodge? For discussion purposes, let say 20 to 40 grand price range.
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  #2  
Old 01-28-2013
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BikeRider BikeRider is offline
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All lenders use NADA to determine how much they can lend. NADA value for an early 80's bus is like 8K-10K. I'm not clear on how those values are determined but obviously you are not going to get a wanderlodge for 8K unless there is a lot of rebuild. That said; some institutions (credit unions) will allow you a members choice loan at a higher rate- 9% plus. You would have to have other collateral i.e. house or whatnot. It's not really possible (unless i've missed something) to get get a loan of that size for an early 80's bus. Others may have a different experience.
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Old 01-28-2013
al perna al perna is offline
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Ryan

If I were the owner , I would finance you with 30% down . Look for a owner-finance deal . I have financed 2 units with full asking price and was paid in full . Just ask you never know . You may pay more, but as they say you cant argue, price and terms .
Your other option as stated , Credit Union .
good luck to you .
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  #4  
Old 01-28-2013
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We went through our Credit Union with no problems
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  #5  
Old 01-28-2013
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If a lender tells you they have to rely on the NADA to give you a loan that may be their polite way of saying you may not qualify for the loan. As an appraiser I have appraised about a dozen or so for loan purposes. NADA is not a good reference source for determining values for Blue Birds, maybe they were 5 years ago but not anymore, 2007 was the last real production year for the Blue Bird and even then I don’t think their production numbers & sales were all that high. NADA data may help for a Winnebago purchase but not for a Blue Bird, the real sales data is not there to justify their published values. There are no Blue Bird dealerships and the auction houses for most part don’t report their data. So don’t rely on NADA for any real help. The market hit bottom real hard 2009 - 2011 but now I do see values on a slight rebound but I don’t think they will ever recover to where they were prior to the big recession period. There are other means to get a bird, save your cash and wait until you can buy it outright. You could use a home equity loan if you can’t wait, and some credit unions are more lenient than banks. If you’re going to make payments, have you given any thought as to what you would do if you had to replace an engine, transmission or even a generator? Major expenses do occur and if you have to worry about making payments it takes all the fun out of enjoyment of ownership. There have been several threads here on the forum discussing this issue over the years and financing a bird does raise some questions. Good luck and I hope you find a bird to meet your desires.
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  #6  
Old 01-28-2013
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Being a government employee I was able to borrow from my retirement TSP account (like a 401) I pay myself back and even gave myself a pretty good interest rate.
I don't know if a traditional 401 allows you to do that.
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Old 01-28-2013
kb0zke kb0zke is offline
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This is exactly why we are waiting until the mpg sells before we really go into buy mode. Once we have the cash from the sale of the mpg we will be able to pay cash for our coach. We may miss out on the "perfect" coach while we wait, but another one will come along eventually.
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