[Archived]

No guarantees, of course, but Newcoast Financing Services of Clearwater, FL and Voyager RV Credit of Spencerville, MD may have an interest. Try Newcoast first…

Pres

[Chas]

Brett, I have the impression that before you were full time that you were from TX,OK area. If that’s the case…try Arvest.

[Dick]

Appears that Newcoast is gonna be the winner……..getting closer to knowing for sure.

[Archived]

Try a credit union.

[Edward]

Try Incredible Bank …

https://www.incrediblebank.com/products/specialty-loans

based in an incredible state making loans on incredible motorcoaches!

[Brett]

+1 for Incredible Bank (internet division of River Valley Bank). Just did my 2000 Vantare. Talk to Brad Mason.

Phone 906.250873

[Brett]

I talked to Brad Mason today, but he was the second to call after Newcoast. Don’t want multiple credit pulls so won’t go with them unless Newcoast fails.

Thanks for all the info, this morning was looking pretty rough before you guys came through…lol

[Francis]

We’ll get you in that Prevo yet buddy!

[Archived]

I am trying hard…..lol The wife still looks at me like I am smoking crack but hey…lol Actually I have caught her several times since yesterday looking at the pictures of the bus and saying hey, did you notice this or that…lol Going to go look it over tomorrow. Had to make sure we could get a bit of banking help before we made the trip.

Again thanks, I hope I get a bus and I hope you guys are as good as the American Coach group.

[Hugh]

Good luck Brett. Enjoy the hunt.

[Archived]

Check this out from FICO:

http://www.myfico.com/crediteducation/questions/inquiry-credit-score.aspx

“[Y]our FICO score considers all inquiries within a 45 period for a mortgage, an auto loan or a student loan as a single inquiry. For many people, one additional credit inquiry (voluntary and initiated by an application for credit) may not affect their FICO score at all. For others, one additional inquiry would take less than 5 points off their FICO score.“

I’ve been in the home mortgage business since 1980. I was taught to “read and interpret” credit histories and credit reports before FICO scores were invented. While FICO scores have a place in lending (especially when quantifying credit quality on pools and books of loans as well as tracking improvement or deterioration of individual borrower credit), they are too often used as a crutch by lazy and poorly educated underwriters.

What really burns me up is when FICO score thresholds are used for interest rate pricing, loan amount limits, and LTV limits … or worse yet eligibility (or ineligibility) for a loan. You can’t tell me that a borrower with a FICO of 725 vs a borrower 715 FICO is worthy of a lower interest rate, higher LTV, and larger loan amount just because “today” his or her FICO is above 720. I’ve sat in too many meetings where the decisions to move the FICO thresholds around were made without any impirical data whatsoever.

Let me read the credit report … I’ll tell you whether the applicant is likely to make his or her payments. And BTW … the credit history/credit score is just one of The Four C’s of Credit.

Sorry to hi-jack the thread. I just didn’t want to see the original poster held back from shopping the market for the best deal on his bus loan because of what I perceive to be an urban myth that self-perpetuates itself.

If someone starts a thread about the impact on FICO scores and/or getting a loan when you’ve co-signed for a student loan or car loan for a kid and the loan goes slow pay … you can see me really get wound up over something I think is really stupid.

[Reagan]

Good info DIck, my credit score is >830 so I am not worried too much about it really.

[Peter]

I don’t know if lender bias has an impact, but on more than one occasion I have had people try very hard to convince me the purchase of a coach makes no sense. I cannot count the number of times I have heard about how many nights I could stay in a suite in Las Vegas for what I spent to buy a Prevost.

Maybe lenders harbor similar thoughts. If we step back and look at the purchase of a Prevost objectively it does not make sense. They are expensive, they need expensive maintenance, they depreciate, and they don’t do anything a Winnebago cannot do. And those who seem almost gleeful when they tell us that (like we don’t already know that) are absolutely clueless about why we really do buy a Prevost, and why a lot of us keep buying them.

[Corey]

Cause we can !!!!!!

[Archived]

And we don’t need the government to help us do it!!!