My oh my, how things have changed! Not too long ago I was looking to sell my 2005 Chevy Conversion van and purchase an RV. More specifically, I was looking for a used Roadtrek. I made sure to get a pre-approval from my bank so when I finally found the one I wanted, all I had to do was submit the necessary paperwork to receive the funds.
I searched for a little over a month and finally found one. It was a 2008 Roadtrek 190, low mileage, clean CarFax report, and a price that was well within my budget. And, it was only about 200 miles away. Most of the other Roadtreks I found were located clear across the country.
As soon as I saw the newly-posted ad, I called the guy and made an appointment to see it the next day. I drove 3 and a half hours to see and test drive it. It was perfect for my needs.
Because Roadtreks are a hot commodity, he had several offers. I made sure to email the necessary paperwork (purchase agreement and title) to the bank while the seller was standing there. I then made a bank appointment for 9:30 the following morning to go over the paperwork and receive the funds. I told the seller I’d drive back down the following day, pay for the Roadtrek and bring it home.
Oh the Credit Union
Before meeting with the Credit Union, I made sure to place insurance on the Roadtrek so I’d have the necessary insurance documents to complete the paperwork. The bank would finance 90% of the cost while I put a 10% deposit. I had everything ready only to be gobsmacked when my credit union would not fund the vehicle.
According to them, I was purchasing a 2008 Chevy Express truck. They just couldn’t understand that it was a Roadtrek motorhome. The vehicle’s title specifically stated it was a motorhome, but they wouldn’t budge.
I really didn’t get it. The credit union advertised that they provide RV loans. If that’s the case, they should know that Roadtreks are built on either a Chevy, Dodge or Mercedes chassis.
I tried every way from Sunday to explain this to the bank. I even gave them photos of the vehicle and referred them to the Roadtrek website. After about an hour of providing them with logic and facts, it was useless. They would not budge and as such, I lost out on the purchase.
Making the Call
When I left the bank, I called the seller and explained the situation. In my frustration, I shared with him that I don’t like debt and am debt-free, but was willing to take out this one loan for the Roadtrek.
He then said, “Maybe this was a good thing. You see, I too am debt-free and will never go into debt again.” We chatted a bit and when I got through talking to him, I looked at this whole situation differently.
Since he had several other offers, he was able to sell the vehicle quickly. However, this non-transaction planted a seed in my mind.
It’s All About power
As I licked my wounds and consoled myself with an evening of fine dining and several chilled glasses of Chardonnay, I realized I had given my power to the credit union. No matter how extensively I researched, analyzed Carfax reports, compared mileage, vehicle year, car features, and condition, the Credit Union held all the power. One veto from them meant the work I did was in vain.
I’ve since decided to take my power back. I have a mechanically sound 2005 Chevy Express conversion van. I think I will make some modifications and use it as a temporary scaled-down RV. I’ll use my current conversion van while I save money to purchase a Chevy 3500 extended cab, preferably with a high top. I will then convert that vehicle into the RV of my dreams. I’ll do it with my own cash without going into debt.
I’m taking my power back in more ways than one. When I stop to think about the things that cause me frustration, I realize it is because I have given my power to someone/something else. No more. This gal is going to travel and she’s going to keep her power. Thank you, Hudson Valley Credit Union, for waking this gal up!
Note: If you’re looking for an RV loan, do not go to the Hudson Valley Credit Union.