RV Loan with ZERO DOWN!! How does Doug do it!?!?

Big Thanks to Sewell Motorcoach for sponsoring this video!!
SewellMotorcoach.com
Doug's Cell phone number-859-613-2574
#LuxuryRV #Fleetwood #Discovery
RVingwithAndrewSteele.com

[@tourefoster6603]

When you don’t need the loan, that’s when your approved for it!

[@badgerpa9]

When you can make the payment for the loan even if you get injured and miss work, that is when you are approved. If you have never bought your first sticks and bricks home there are great loans for that and they will go with more risk as the land and house are there. If you have a loan of 300K on an RV and it is destroyed you need to have the insurance and also the deductible handy.

[@marantz7783]

amen brother

[@freshstart4423]

Credit scores are a racket, they offer to fix a non existing problem. Its always based on your income and savings all along.

[@donwat91]

That 2004 Discovery was a awesome coach. I own a 2003 Discovery 39S 3 slides. That forth slide made a lot of difference. I was the second owner of mine. It has 34,000 miles on it. The last 3 or 4 years because of health not been able to travel. But that's changing in less than a month. I love it and please don't say it loud , I think it likes me . I've told my 2 adult children , son 50 , daughter 48. Just to bury me sitting at the steering wheel in it. My coach 2003 sold new for around $267,000.

[@pilotgirl5953]

Nice to here honest answers to these questions !

[@schpoe123]

Nice to see someone talk about something this important truthfully bravo

[@bradleejaymz]

Thanks for this video. My RV dreams have really been shattered by the reality of financing. I live in a tiny house with my family, have a good job, plenty of paycheck to pay for a loan, zero debt, no credit card debt, no car loan, no mortgage, but also...no home, no collateral. I had 20% down ready to go on a Thor, but the sales person I was speaking to on the phone would not even give me the "Call for sale price" price because there was no way I could get approved for a loan without collateral. Basically you have to have either the cash or the equity equivalent to the price of the RV to buy an RV. Full Time RV'ers apparently have to work the system to get a loan, then sell their home. I think Andrew made a video on this a few years ago??? He did the same thing.

[@ericgregory3005]

You need to get in good with a local credit union. Much better odds than a standard box bank.

[@badgerpa9]

First thing you should do is get a loan and make payments at least a year, show you will make them. Get a credit card and use it for gas and pay it each month, shows payment history. Talk to a local small bank or credit union you may get the loan with better terms especially if you have a parent that has the house that signs with you. Good luck it took me a few years of financing a home fixing it up and selling it to build up to owning rental property and getting bridge loans were they will tie equity from multiple place together in one loan.

[@leastcoast5606]

My neighbor has a large RV and he is always putting a lot of money into it. Reminds me of a boat. Great if you you have a lot of money.

[@grc5618]

Bait...and switch...yeah that's it. Got it. At least he's honest

[@fladave99]

zero down, 4000% interest

[@tuomasholo]

Cmon people, do you really want to finance a huge loan on a depreciating asset with high operating expenses? Unless you have another business opportunity with higher rate of return, pay cash.

[@here-i-am2316]

Do neither.

[@HobbyOrganist]

Yeah really! Like $400,000 could buy a house on ACREAGE in Iowa easy!

[@rockysouthflorida1707]

Big Dawg Doug.. That bulge in my pocket is a Chicago Roll of CASH! SOLD BABY! LOL!

[@dandmpetro1]

Listen, If you need a "0 down" loan you don't need a motor home. What you need to do is save your money.

[@maxcorder2211]

Wrong. If I have $150,000 in the bank, I would rather have a $150,000 loan on the RV and keep my cash. I’m just going to rent the money for a few years, enjoy the RV, and then sell it. I’ll settle up on the back end.

[@iminoccacitizen7861]

@@Couplescience Good advice! My first RV was a 1988 Winnebego Cheiftan that I paid $11k for. I was concerned that learning to operate the RV would at times be a "contact sport" and I didn't want to be a grown man crying over his precious baby. No major damage was done, and not having to worry was really nice. And truthfully, there is no correlation between the amount of money you spend and how much fun you have! Once you have a reliable RV, the rest of it is all about the places you go and the people you are with.

[@bellexcavation9862]

This was helpful. I now know where I will never take my coach in for service :-)

[@seanym67]

With all due respect I really didn't find out how this financing works. I heard a lot about a "relationship" with the bank and lack of home ownership. I did not hear much about how to practically get approved. I shouldn't have to "trust" the finance manager, on the contrary that guy generally does not have my best interests in mind. Apologies, my intention is not to crap on this video but precious little real info was given. I get the impression that the zero down guy is gonna finance the next guy who has impeccable credit and can write his own deal anywhere. Anyone who has money is not going to seek financing from this guy and his bank.

[@badgerpa9]

You need to be able to show you can still make payments if something happens to you or the RV. They need to show on paper you can do that before they give the best terms because it is at the least risk. Dealers will not even write up the loan paper if they know you are not going to get the loan, which makes sense. It is not that you can buy the the thing cash, but that you will continue making payments if something happens to you or RV. If you have no equity to show at all that does not give them a value to your equity that would pass a state review of the loan. No dealer wants to be on the news when bad loans are discussed.

[@1Seriouslyserious]

DO NOT TRUST this dealership!!! Everything they do protects them, NOT you.

[@melissascheller7458]

I’m of a nice downpayment and smaller loan kind of gal! Hopefully lower interest and comfortable monthly payments.

[@davidhannan2023]

This video has a key point, if you plan on living in your RV full-time make sure you buy your RV before you sell your home! It’s all about the sequence you do things, I know it sucks but it’s how you look on paper at the time of the purchase. It’s like buying your home, you don’t buy any big purchase until after you buy a home. Once you close on your house you can do whatever you want. It’s crazy but it’s how it is.

[@1982MCI]

@@Couplescience and that’s the way individuals need to get back to doing things. If I don’t have the money, I’m not buying it, period!! I’ve just spent years paying down debt and I’m finally there and never again will I be a slave to the banks!!

[@jamesharrison270]

So they didn't have a residence AT ALL? I thought he meant because they were "renting" and didn't own their house they got denied...

[@bobchallquist4577]

I think the question should be, not can someone get a $0 down loan, those are around, but should it even be available. The coaches are going to be 30 years old people are likely going to have to buy their way out of it when they go to sell it. They are instantly up-side-down.

[@mikemoxley9477]

Nice report

[@umjw21]

The scenario of a highly qualified applicant being denied because they don't have a residence probably has more to do with the loan really being for a primary residence and the number of things that come along with a loan like that (disclosures, rules, underwriting standards, regulations) just don't fit with their product or process for an RV loan. I would imagine this is why dealers don't want to talk about it being a "home".

[@SpaceForceRecon]

I want to sell my house and live in a camper van… should I apply to finance the Class B before or after I sell the house?

[@wingslevel]

Sounds like 2008 x 10. But it's different this time.

[@redpill5912]

Another credit bubble that will burst.

[@philjohnson1109]

But on scale its nothing to housing on 2008. This type of lending is honest but “happy path” of life rarely exists long term. Pay cash for anything class A.

[@craigorford9932]

Ayy up Andrew very informative vlog,stay safe see you next vlog

[@susanpiette7165]

Doug ill make sure to bring cash when we meet. Please ask Andrew to be there too. Thats after lottery, lol. Thanks guys

[@Momster89]

This is an example of how credit scores mean nothing. Old days, you paid your bills and kept debt low, you would get a loan. Now credit scores change more than my hair color 🤨

[@brianz9634]

I wonder what the interest rate would be on a "zero down" loan vs a standard RV loan?

[@ronque23]

At least the guy is being honest. It’s a high tag, luxury item so your income has to be able to support it, especially if you wanna keep your credit score high. Live within your means and you’ll be happier at days end.

[@tristanhood3022]

i rarely see doug without his signature vest

[@AJ-hm5ck]

Quick question to Doug. If I pay cash for a coach does the purchase price change (like so many dealerships)

[@aydenfarmer5641]

No, the price doesn't change. Cash is only king for under the table deals. AKA paying your neighbor boy cash to mow your yard. Cash is harder for the government to trace and so it's harder to collect taxes on. No standup business is going to get you a special price (Negated tax price) because you're paying cash. People ask for it all the time and it's such a silly notion. Anything that has a title or that you have to get registered can't be regarded as an under the table deal. There's a bill of sale and everything is easily tracked by the IRS. A dealer isn't going to go to jail for tax evasion/ defrauding the government to save you sales tax.

[@jarredholt5037]

If I run numbers on a $500k rv with 0 down…the worse thing the bank can do is say No…if they say yes…I say 🏦 are my best friend…hehehe…just because they say yes doesn’t mean you have to buy the coach…that why some dealers require a deposit on the coach at time of running numbers

[@shewolf3813]

@@Couplescience People would be wise to listen to your experiences and advice. Many people just don't like being told no. "I deserve this!" - No, you really don't!

[@frustrated181]

So basically it's somebody that has good credit this isn't for people with bad credit that need to get into something quickly

[@offdutyagain]

Andrew, congratulations, I think today was the day you actually jumped the shark. Your videos used to be informative about different types of coaches but lately, since your collaboration with Doug, they have become more infomercial than anything. Nothing against Doug and his RV dealership, but it seems your content with him is always about developing leads for his business. No offense, but qualifying for a "zero-down" loan on a luxury item is just as Doug started to say...a "bait" to develop customer leads. On the last coach, he now has over 250 sales leads for anything that may hit his lot. Not a bad way to do business. Sales leads that are generated by your videos and not by foot traffic or internet traffic to his lot. I've tried to shake the feeling that your videos have changed. Felt true sorrow at the loss of your Newell on the Florida trip, but the nagging feeling that started around the time of the Tampa show just won't go away. After your less than funny April Fools joke on Brad at the Motorcoach Store, I realized that things had really changed. I see you are posting more which means more $$$ in your pocket, but the content is thinner and with the inclusiion of your Sewell Motorcoach infomercials just not as informative as before. I realize I am probably in the minority, but I think it's time to say adios and move on to someone who can do more than shill for an RV dealer. It's been a good run and I wish you continued success, but I'm out.

[@reneepetit8206]

My husband and I feel the same. No offense to Doug and his business but we are out too. Best of luck Andrew.

[@kirk8359]

Same. I’ve been away from the channel about a year, came back started flipping through videos I missed and found myself wondering what happened here. Andrew is a Prevost guy at heart, that was always clear, but his videos on any coach had a genuine feeling to them. As soon as I saw the Newell hat and all the Newell content, it was clear that he’s jumped to the revenue stream.

[@shewolf3813]

This seems so prevalent among KZbinrs. It's not long before so many sell out. I have zero trust anymore.

[@truthbtruth8559]

Ditto. Can't say it better. Thank you, best to you.

[@truthbtruth8559]

@@reneepetit8206🤔Agreed. There's always a "catch" so Buyer Beware. If Andrew would just honestly say he's getting a Referral or Kickback fee from Doug, that's the right thing to do. I'm sure he is. Also, what's "Doug's" last name? What's the big secret? Many details are missing. Indeed, this video is CLICK BAIT. Watched several of Andrew's great videos but sadly they're not up to par anymore. Remember the old saying : " IF IT LOOKS, SOUNDS, ACTS, APPEARS TOO GOOD TO BE TRUE - IT IS". #ClickBait

[@leonawilliams6599]

Thank you Andrew and Doug' great info keep em coming

[@timmurr1672]

If you are in the market for an RV this is the place to go. Doug and and his team are the best. They actually do what they say they will do.

[@dennismercer3368]

I'm looking for a Super C 33 Footer , used , I have a Sprinter Winnebago 24 Footer VITa for Trade

[@truthbtruth8559]

Okay thanks. But what's "Doug's" last name? It's nowhere to be found at least at this video. I find that a tad shady and suspicious. Wouldn't anyone?!

[@1Seriouslyserious]

@@truthbtruth8559 We thought this was shady too… We just flew out to see a coach. There were so many red flags with Doug - we lost count!! We ended up walking away from a coach we were ready to buy - cash in hand. Here are some of the red flags: ** He WILL NOT let you test drive a coach without signing a purchase agreement. ** He WILL NOT put ANYTHING in writing in terms of what he plans to fix on the coach. ** He would not answer questions. When I asked questions, he gave me one of 2 answers: 1. When you buy it, we will teach you that. 2. If you don’t trust me, don’t buy from me. I’ve met lots of shady business people in my life, but Doug was by far the most unapologetically in it for himself - and if you lost your life savings because he lied to you, so be it. He is actually PROUD that he doesn’t put things in writing, which would protect the buyer.

[@haileyandcasey4723]

It’s not what you know its who you know 😂🤔👍🏻

[@ericgregory3005]

Sometimes you cant get to the money or your money is in work making more money. I wouldnt sweat what someone else is doing or zero down if your not hammered with interest, pay off strategy. These are all beautiful to look at but would stick about 15 foot out from the places my family camps.

[@fredweis2383]

Bait n SWITCH

[@pyroman49wedd86]

Does that include used rvs

[@waynebailey9152]

Who is this dealer and where are they located?

[@frankdamelio7175]

Growing pains. Scaling up means more capital , more people, more payroll, more inventory, ad nausea. It’s not not easy growing a business. Hat’s off to Doug.

[@sardonyxcorporation6031]

RV financing will JUICE the hell out of you in the back end. This is where they make the big money.

[@pattyvanzant850]

Where you located at? I'm on social security and would need a motor home that sleep 6

[@marantz7783]

How about -850 scores ( the last 3 years) with 3 home's ownership-- what is the best rate on a 20 yr loan??-==TY-please call-ty

[@stana2z]

Don’t kid yourself people. Rich persons’ toys.

[@aussiegoer]

Fiddle the books..🙄🤔🤣🤣

[@jamesmerkel9442]

139 wanted the video bc wanted to see inside loved the outside but time is money can't watch them all.

[@patriot8087]

Yeah, you got to not need a loan to get one.

[@Vinnie101a]

House with land - appreciating asset. RV - depreciating asset. What’s best for you?

[@Vinnie101a]

@@Couplescience Simple answer is never borrow against a depreciating asset. In other words, borrow against the house which will hold its value.

[@Vinnie101a]

@@Couplescience : That’s a great philosophy Kathleen. You have my utmost respect for your achievements and I wish you all the best for the future.

[@Akjonahskate]

Great Advice! Thanks Andrew

[@kathyadams3366]

Better to pay cash, especially on a rv since they depreciate so much and so quickly.

[@Lex-Rex]

My money makes more in investments.

[@calvincalvey7794]

So I am still screwed…… just because I chose to not own a home … really ????

[@kevingreig288]

What was the point of this video? Anyone buying a coach knows how to finance these items. This interview with Doug seemed a bit hokey Andrew.

[@LTVegas-vf6km]

When a salesman casually uses the word ‘bait’, it’s time to walk away. There is no way this guy is taking “no money down” even on a VW micro-bus.

[@martyday5655]

Sound statement

[@AC-Cowboy41]

You have to own a home to buy an luxury coach? What if you're full time in an RV and just want a "better" home on wheels? Seems silly to me.

[@kurkgarro2341]

If I can’t pay cash I don’t buy even homes.

[@jonjacobson4104]

You have peaked my interest! Home owner with enough equity to cover the note. High 700 score. Have a coach I wanna buy ASAP (07' Country Coach Galileo) . I'll be stated income or cash distributions? Whatever works. Ping me if you wanna make a deal!?

[@maxcorder2211]

Just pay cash.

[@BlueYiperoo]

In other words, you have to be a millionaire!

[@johnackley7260]

They know it’s going to cost $1500 to fill the tank

[@paulfleetwood4942]

MOST HONEST SALES MAN AT MIN 5.11 THE RAW TRUTH REVEALED WOW!

[@badgerpa9]

Sad when people get mad because they do not have any equity or ability to make the payments, but same people would bitch to the local news the dealer put them in a loan they could not afford and blame it on the dealer, not take any personal responsibility. You complain you cannot get the loan, or you complain you cannot afford the loan and it is the bank or dealers fault you got buried with the loan. Grow up show some personal responsibility, you should have had a personal finance class to graduate high school and learned about loans, if you did not then you local school is who burned you and you need to replace the school board and get the classes required to live mandated to kids.

[@shewolf3813]

They get mad but they will be right there with their hand out doing a Go Fund Me down the road.

[@airbusdude1588]

The reason he gets zero down loans as he guarantees if someone defaults Doug takes coach back and resells it. So there’s no risk to lenders . That’s why they will do those deals zero down . It’s a game that Doug’s not telling you . Salesmen being salesman .

[@skoffco]

That’s provided they can find it. These are homes on wheels. They can be moved all over the country.

[@Vinnie101a]

A tad more riskier than a house for the funder

[@kenkauzens7984]

You can be sure there's a few GPS units in the zero down purchase

[@skoffco]

@@kenkauzens7984 that would be interesting to find out…..

[@dumasbagofhammers]

In my humble opinion if you need to borrow money to by a depreciating asset like an RV then you have no business buying it.

[@jeffcrampton4771]

You coped out

[@theworldaccordingtochris4370]

Doug is cool 👍

[@danielfarmer4311]

40k on engine repair? 😑

[@darrellmendiola3495]

Zero down is a terrible idea. Yikes

[@TheBuddyandlilly]

Sorry big fella I ain't buying anything from a guy that where's his sun glasses while I'm talking to him

[@reneepetit8206]

Did he actually use the word "bait" like in "bait and switch"? Like someone else said, with all do respect, EW.... !!!

[@truthbtruth8559]

🤔 There's always a "catch" so Buyer Beware. If Andrew would just honestly say he's getting a Referral or Kickback fee from Doug, that's the right thing to do. I'm sure he is. Also, what's "Doug's" last name? What's the big secret? Many details are missing. Indeed, this video is CLICK BAIT. Watched several of Andrew's great videos but sadly they're not up to par anymore. Remember the old saying : " IF IT LOOKS, SOUNDS, ACTS, APPEARS TOO GOOD TO BE TRUE - IT IS". #ClickBait

[@centexsucks1]

small town feel. bro this guy looks super sketch