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paramr

1 Posts

Posted - 01/10/2012 :  11:26:41  Show Profile  Visit paramr's Homepage  Reply with Quote
Adam,

The following lenders do RVs on a national basis:

Bank of the West
Bank of America
US Bank
MarineOne Acceptance
Medallion Bank
Merrick Bank
MB Financial Bank

I also recommend you check out AppOne (www.appone.net). This is a slick online system that connects you with RV lenders. Let these lenders know that you are referred by AppOne.

Best,
Param
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miles

USA
9226 Posts

Posted - 01/10/2012 :  15:04:34  Show Profile  Reply with Quote
quote:
Originally posted by SD2103
My only concern is they ask for a $250.00 Dealer Fee to be sent in with your dealer reg packet anyone else come across this before? I have never had to send a application or dealer registration fee in before, but again im from automotive side just seems a little bit odd to me.

Thanks everyone!



Sadly, dealer fees in powersports / RV's are normal Adam.

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dux hunt

USA
229 Posts

Posted - 01/11/2012 :  08:26:16  Show Profile  Reply with Quote
Adam, sorry I've been off the forum for a little bit and just saw your post.

We've been charging the one-time $250 signup fee for over 3 years now. We initially did it because every P/S dealer wanted to sign up, but then never sent us a credit application to decision. I got tired of going through the motions and we make $$ booking deals, not signing up new dealers. So, we thought if someone was willing to commit $250 (put some skin in the game)they would at least give us a shot. 3 years later I'm shocked at the number of dealerships that still send us the $250 and never send us 1 credit application.
We have competative rates, allow backend products, allow rate participation, have extended terms, and even have a 0-down program. Still, dealers send me $250 and then never send us 1 credit application to decision. I don't get it??? We'll even show them how they can make up the $250 fee on their first deal and.... still no credit app.
Trust me, I'm not going to retire on the $250 and it does not pay the light bill around here. It's just enough to cover the time of the 5 or 6 people that must touch a new dealer sign up package.

As far as contacting us.... yes, our web site is very vague as far as Indirect goes. We don't want just anyone doing a Google search for "indirect lenders" contacting us. You probably got our general number and someone who does not know we exist in this 11 floor building.

Feel free to call me direct at 847-653-2369 or ghorn@mbfinancial.com

George

And yes, we do business in all 50 States.
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miles

USA
9226 Posts

Posted - 01/11/2012 :  10:35:10  Show Profile  Reply with Quote
Ahhhhhhhh... Light dawns on marble skull.

Anyway... Adam- in my opinion, both personal and professional, MB's $250 fee is fair, and worth every penny. I do business with them as often as my customer base allows me too and they are fair, fast, and consistent.

They are a prime bank, so don't waste your time or theirs with the 519's, but their rates are extremely competitive, and God Bless, them they allow up to 4K in B/E products and up to 3 points in rate.

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SD2103

USA
143 Posts

Posted - 01/11/2012 :  11:22:58  Show Profile  Reply with Quote
Yeah $250 is not a big deal to pay. We have no problem shelling out money to make money. George, Do you sign up independents, we have no new manufacturer line and that is becoming my biggest headache right now ughh!!!!
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dux hunt

USA
229 Posts

Posted - 01/11/2012 :  12:18:15  Show Profile  Reply with Quote
We do, just different requirements..... give me a call and we can discuss things.
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spot_moskowitz

USA
224 Posts

Posted - 01/11/2012 :  14:41:28  Show Profile  Visit spot_moskowitz's Homepage  Reply with Quote
George,

Do you do RV's as well as powersports? I am always looking for new lenders.

Spot

When there's nothing left to burn, you have to set yourself on fire.
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dux hunt

USA
229 Posts

Posted - 01/12/2012 :  08:07:29  Show Profile  Reply with Quote
Hey Spot,

We've been doing P/S for 10yrs (added ATV/UTV and PWC in 2011) and as of Jan 1st we are moving into Boats and RV's.
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gadna50

Ireland
14905 Posts

Posted - 01/12/2012 :  10:26:55  Show Profile  Reply with Quote
quote:
Originally posted by dux hunt

Hey Spot,

We've been doing P/S for 10yrs (added ATV/UTV and PWC in 2011) and as of Jan 1st we are moving into Boats and RV's.

Do you service Texas customers?

GADNA
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dux hunt

USA
229 Posts

Posted - 01/12/2012 :  12:57:03  Show Profile  Reply with Quote
Yes...all 50 States
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miles

USA
9226 Posts

Posted - 01/13/2012 :  11:32:09  Show Profile  Reply with Quote
George, Do y'all do American Iron Horse MC's?

05 Legend...

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dux hunt

USA
229 Posts

Posted - 01/14/2012 :  11:08:51  Show Profile  Reply with Quote
Sorry Miles, we stopped doing "custom" bikes like Iron Horse and Big Dog a few years ago. There is no auction value to them and we are lucky to get 30 cents on the dollar for repo's.
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miles

USA
9226 Posts

Posted - 01/14/2012 :  11:34:57  Show Profile  Reply with Quote
That's what I thought, but wanted to double check. Thanks George.

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