Southeast Financial

RV Industry News

RVDA Board of Directors Approves Revisions to Strategic Plan

Phil Ingrassia Assumes Duties as New President by RVDA   RVDA President Phil Ingrassia   FAIRFAX, Virginia – The national RV Dealers Association (RVDA) Board of Directors has approved revisions to its strategic plan that will guide the organization as it transitions staff leadership from outgoing President Mike Molino to President Phil Ingrassia, who assumed his duties on April 2. Ingrassia previously served as the association’s Vice President for Communications. “Our core purpose -- to help dealer members achieve and maintain success – remains the same, and the board has enhanced the strategic plan to focus on the issues RV dealers and the industry face today,” said RVDA Chairman of the Board Andy Heck of Alpin Haus, in Amsterdam, NY. “It’s clear that RVDA needs to have a strong voice in government and industry affairs as well as be a catalyst for dealer solutions.” “As the association moves forward, the revised strategic plan will assist the board and staff in keeping RVDA resources focused in areas that will help dealers the most,” Ingrassia said. Central to the strategic plan are five core organizational values: Professional development and education RVDA facilitates the sharing of ideas and is a trusted resource for best practices. Professionalism and integrity RVDA is dedicated to the highest standards of personal and professional integrity. Equitable member participation RVDA encourages dealers of all sizes to participate in association affairs and supports diverse opinions. Industry teamwork RVDA leads in the pursuit of excellence, innovation, and industry unity. Advocacy RVDA is the leading advocate on public policy and industry issues that impact RV dealers. “The current strategic plan builds on the good work of previous RVDA boards, including the core values and guiding principles, which are so important for stability and focus,” Heck said. “This is a great reflection on RVDA dealer and staff leaders past and present, because it shows that there is no confusion over RVDA’s long haul commitment to dealers.” “This year’s planning process came at an ideal time for RVDA as a great leader, Mike Molino, steps down and I assume the duties of chief staff officer,” Ingrassia said. “I look forward to working closely with the RVDA Board of Directors, the membership, and other industry stakeholders to achieve RVDA’s goals.” The revised strategic plan is available at www.rvda.org. Before becoming RVDA President, Phil Ingrassia served as the association’s Vice President for Communications starting in 2002 and joined the RVDA staff in 1996. In that capacity, he supervised the association's membership, industry relations, market expansion, and communications programs. He also served as RVDA's staff liaison to the Go RVing Coalition. He earned the Certified Association Executive (CAE) designation in 2005. RVDA is the national association representing RV retailers. The association’s members include RV dealers, RV rental operators, and RV AfterMarket sales and service locations.

Great Deal On Forklift

Great Deal on Forklift Contact Wesley 615-533-0087 2002 caterpillar eagle pitcher RT80 8,000 lb lift capacity 3000 Hrs We have a dealer that has gone out of business and he is selling his 2002 Caterpillar Eagle Pitcher Forklift for what he owes on it $11,500, which is thousands below what it is worth so I thought I would let you  guys know just in case you need one for your lot.  You can call Wesley at 615-533-0087 and he will put you in contact with the owner.

So You are Thinking About Financing a RV or Horse Trailer

Once you've made your decision to buy a RV, horse trailer or boat the first thing that usually crosses your mind is, "How am I going to pay for it." The majority of purchases involve some level of RV, horse trailer or boat financing, whether it's a credit line through the home, an unsecured loan, or a conventional recreational loan. Choosing the right financing source can be as important as choosing the right RV, horse trailer or boat .

There are several factors to take into consideration when choosing a recreational finance source. The first might be to determine how long you intend on keeping the RV, horse trailer or boat . If you are purchasing an entry level first RV, horse trailer or boat , it will make sense to find a recreational loan that will be flexible in the event of early payoff through a private party sale or trade-in. Conversely if you are purchasing the RV, horse trailer or boat  of your dreams and expect to have it for a long time it will be important to lock in at a fixed rate loan with terms that will allow the comfort of a low monthly payment. This will allow you to make sure the RV, horse trailer or boat will always be affordable in future months.

 Another factor to consider is the down payment. Most lenders would like to see ten percent down for a recreational loan. However, zero down scenarios do exist for people with optimum credit profiles. Generally, the down payment does not significantly effect the monthly recreational loan payment. You may be more comfortable keeping the extra money in your account in exchange for a payment that is not significantly higher. However, there is one caveat to this approach. If you buy a RV, horse trailer or boat with zero down, make minimum monthly payments and then decide to sell the RV, horse trailer or boat soon thereafter, you may actually owe more than it is worth.

 Home equity loans and credit lines are a viable option for recreational financing. This option can be particularly good for individuals with a challenged credit profile. These loans are based on the equity available in the home and can allow a person with poor credit to get affordable terms that otherwise would not be available. The drawback to these loans is that the home equity is now tied up in a recreational purchase. A person who can qualify at agreeable terms is usually better off with a conventional recreational loan. This will allow a person to keep the equity in the home for an emergency along with the ability to sell without encumbrances.

 Choosing the right recreational loan is an important step in the buying process. A good place to start is with a recreational finance brokerage, that can show you how each of the options will fit into your profile. This will give you the ability to find the loan that fits you best. Then you can concentrate on the important stuff – like your first trip .

   
 

Securing Recreational Financing: Understanding Your Credit

In today’s world it is imperative that you understand how your credit can impact your financial choices. It is essential that you know the fundamentals of credit reporting and monitor your credit reports on a regular basis. To obtain a loan, particularly a recreational loan, you must have higher than average credit to secure the best interest rate possible.

Understanding your credit report and leveraging your credit profile can be very difficult. In order to help you better understand your credit Southeast Financial has assembled this comprehensive resource guide to help you better understand your credit report in order to obtain a sensible recreational loan.

STEP ONE: Obtain Credit Reports

The first step to understanding your credit is to obtain and review a copy of your credit report annually. There are many online sources for credit reports including: Fico Scores/Reports , CreditReport.com, and MySafeCredit Each of the sites will let you see your credit scores from the three nationwide consumer credit reporting companies, Equifax, Experian and TransUnion.

 

STEP TWO: Understanding Your Report

Unfortunately reviewing and comprehending your credit report can often be confusing. Southeast recommends that you download the Understanding credit reports brochure at Credit Education , to guide you though the process.

STEP THREE: Ensuring Report Accuracy

After you read the brochure you should have a better understanding of how to read your credit report. The next step is read your report and look for errors. It is imperative that your report reflect an accurate depiction of your credit profile. Mistakes happen frequently and errors are posted to your credit report without your knowledge. You can’t allow this to go unchecked.

If you have been a victim of identity theft or have filed for bankruptcy, it is even more important that you monitor your credit and you act quickly in the event of a discrepancy. To find out more information about identity theft, you may visit a website sponsored by the Federal Trade Commission http://www.consumer.gov/idtheft/ .

Repairing your credit may take some time and effort on your part. A stronger credit report will save you thousands of dollars in interest savings and give you the freedom to secure the financing you need to purchase the recreational unit of your dreams.  We will be happy to recommend a company that can help you with this.

STEP FOUR – Understanding Recreational Loans

What are the key credit report factors taken into consideration when applying for a recreational loan? First and foremost, lenders want to know that your monetary obligations are current and up to date. For example, delinquent accounts, charge offs, and or a history of late payments to your creditors won’t entice a lender to offer a loan on your behalf. If you owe money to creditors, make sure that you’ve paid them off first and ensure that your credit report reflects the payment.

Lenders will not approve loans for those that disregard their financial responsibilities. It’s important to understand that a recreational unit is a discretionary item. Why would a bank lend you money to have fun in a recreational unit if you can’t make your mortgage payment.

Identity Theft Victims

If you’ve been a victim of identity theft, you will need to clear up the matter before applying for a loan. This may require legal council. Please refer to our resource noted it step three. A lender will not be able to make an informed loan decision until this matter is resolved and your credit profile is accurate.

Poor Credit or Bankruptcy

If you’ve filed for bankruptcy or are looking to rebuild your credit, there are lenders that are available to help. Credit unions and sub-prime lending sources are available in these situations. (Note: Most prime lending sources that offer better market interest rates will not finance to someone who has recently filed for bankruptcy. Typically, lenders will require a minimum of 3 years positive credit reestablishment.) Be mindful however, interest rates and loan terms for high risk loans will not match those offered by prime lenders. Typically, these recreational loans have higher interest rates and shorter terms.

Lenders will also evaluate the credit history noted on your credit report to make an informed decision on a recreational loan. They will look at comparable installment credit and duration of that credit history. For instance, a lender would like to see that you’ve had installment loans of equal or greater size, in positive standing, for sometime. This will give the lender peace of mind in knowing that a potential customer can afford a recreational item. Lenders don’t feel comfortable financing discretionary purchases for someone who has limited or no comparable credit in their past. This is just too risky for them. You need to show that you are solid as a rock and your positive comparable credit history will help guide their decision.

Lastly, lenders will calculate the debt noted on your credit report, along with your annual income to produce a ratio of installment debt to income. Typically, lenders require that your debt to income ratio, including your recreational payment, fall within the 30-40% range based on your gross income.

Lenders realize that life is full of uncertainties. For example, if you were to lose your job or become seriously ill - this would require a shift in your monetary expenditures. Lenders feel that a debt to income ratio above this range would increase the risk of default and could cause you financial harm.

Although there are additional factors considered in a recreational loan, you have now been equipped with the essential information pertaining to better understanding your credit and how lenders base their decision on your credit profile.

Southeast Financial is structured to aid you in obtaining the best possible loan based on your credit profile. We know what our lenders are looking for and will work to find you the best recreational loan on the market today.

How to Understand Credit Rating Points

Every consumer who has a credit file also has a credit score that is compiled by adding up a number of points based on his credit rating. While there are actually different types of scores, the Fair Isaac Corp. score, commonly known as a FICO score, is the most commonly used number. While the exact formula by which it is calculated is not public, it is influenced by your credit rating points in several areas, such as bill-paying history and available credit. If you understand these points, you can use them to better understand your credit score.

Instructions

1. Obtain your current FICO credit score from a free website . To understand your credit rating points, it helps to know your score so you can work backwards and evaluate the various factors that go into its calculation.

    2.   Obtain your current credit report from at least one of the three major credit reporting bureaus. The three major bureaus (Experian, Equifax and Transunion) are all required to give you a free copy of your credit report once each year. You will need at least one of these reports to get the information that will help you understand the credit rating points that went into calculating your credit score.

3.  Check the section on bill paying and note whether your credit report contains any negative information, such as late payments and collections. According to Bankrate, the way in which you pay your bills accounts for 35 percent of the credit rating points that make up your score.

4.  Tally up your available credit on all of your open accounts, even if you are not currently using them. Bankrate warns that if you have too much available credit, it can negatively impact your credit rating points because potential lenders will be afraid that you might use your available credit and rack up debts that you cannot afford to pay. Bankrate says that available credit accounts for 30 percent of your credit rating points.

5.  Calculate the amount of time you've had your oldest accounts. Bankrate says that your credit rating points are boosted by old accounts that you've held for a long time with the same lender or credit card issuer. The length of your credit history counts for 15 percent of your credit rating points.

6.  Count the different types of credit accounts to see how many you have of each type. Bankrate says that lenders like to extend credit to consumers who have a wide range of accounts. If your credit is spread out between installment loans and revolving credit cards, you'll get more credit rating points. This mix contributes 10 percent to your credit score.

7.  Count the number of recent inquiries that are listed on your credit report. Every time you apply for a loan or account and the potential lender pulls a copy of your credit report, it will be noted. If you have a large number of applications in a short period of time, lenders will worry that you may be desperate for money or that you are planning to run up bills prior to declaring bankruptcy. Too many applications will bring down your credit rating points. This accounts for 10 percent of your points.

  

    8.  If your score doesn't seem to line up with these five areas, recheck your credit report and see if there is any erroneous negative information.

Customer Testimonials

At Southeast Financial our customers are our number 1 priority.  We take pride in offering outstanding customer service.- all to ensure a fantastic loan experience.

Here are some comments from our customers:

"Wonderful people to work with.. Amanda was always there to help me with any problem I had no matter how large or small. I have told other people about Southeast Financial."-Follansbee,WV

"Amanda Wright handled my account and did an outstanding job. I was under some time constraints with my purchase and she went over the top to help me put it all together. Thanks again!"-Council Bluffs,IA

"It was a great experience. We had never completed a loan over the internet. Very painless. The staff was great. Thanks a lot. We used the trailer last week and had a great time!"-Trinity, AL

"I had recommended Southeast to others for helping in buying horse trailers and I will continue to do so in the future. The loan officer at Southeast was very helpful in any concerns I had in financing our trialer. Because of Southeast and the connections they have, I was able to get financed on a living quarters horse trailer that most banks had turned down."-Boston, KY

"Loan Officer Amanda Wright was amazing. I have never had a loan process go so fast or so easy. Amanda kept me informed of each step and explained everthing clearly. Thank you Amanda"-Monrovia, CA

"I just wanted to thank everyone for helping me with my trailer. Everyone was friendly to talk to, as if they knew me. It means alot when you can call a company and have a real person with a great personality answer the phone. And everyone I talked to was pleasant. Thanks again."-Tampa, FL

"Amanda was great! Always answered our questions, and always returned our phone calls and e-mails promptly. It was a pleasure working with her."-Thousand Oaks, CA

"I normaly prefer a prostate exam to a leanding process however, Southeast made the process quick and painless. I will recommend SE to any who is looking to finance a trailer."-Austin, TX

"AMANDA WAS EXCELLENT. I APPRECIATED HER PROFESSIONAL AND HELPFUL ATTITUDE AND HER TONE ON THE PHONE ALWAYS SEEMED TO BE CUSTOMER FRIENDLY."-Ardmore, OK

"Great experience - will use in future and recommend to anyone"-Glendale, AZ

"Great process. I have no issues at all. I would refer you to others, and will contact you again if a future need arises."-Colfax, WI

"Awesome job completing what seamed to me to be a very complicated transaction. Thank-you so much! I am enjoying my new trailer!"-Waterville, WA

"Thank You Amanda and Elizabeth!!!!!I Love my trailer!!!"-Mira Loma, CA

"we have had several trailer loans over the past 8 years thru southeast financial, and every time has been a pleasure, thanks team for always handleing our needs. john kagel"-Brushnell, FL

"THank you Thank you.We have our new camper and love it. I don't think the loan process could be any easier. It was great. Special thanks to Elizabeth!"-Grandview, MO

"Amanda and Jessica were great."-Union Beach, NJ

"THANKS, YOU GUYS WERE WONDERFUL !!!!!"-Hammon, LA

"I really appreciated the ease in which Southeast Financial made the entire process. I like the idea of a "lending tree" for rv loan services. I recommended Southeast Financial to the dealer (Lee's Country RV Batesville IN) where I purchased my travel trailer. Thank you for your help in securing this need for our family."-Kokomo, IN

"The loan process with Southeast Financial was so easy! Everyone I spoke with was professional, friendly and helpful. The process from start to finish was just a matter of days. My personal bank did not write the type loan I needed (LQ horse trailer), so I have referred your company to my banker so she can help other clients looking for similar type loans. I would highly recommend Southeast Financial to anyone!"-San Antonio,TX

"A complete pleasure! The women were wonderful and made this transaction so smooth! Highly pleased and would recommend to anyone"-Chesapeake, VA

"Having been in a Ford dealership as a Sales Manager for many years and appreciating customer service, Southeast Financial did absolutely great! My recoomendation go to "Amanda" for a fantastic follow up and process of the paperwork. Thanks." -Shoreham, NY

 

 

 

 

Motorhome RV Financing Driving You Crazy? RV Loan / RV Financing Rates too high? Look no further for the Best RV Loan! Apply Online

If You Are Buying Your RV Motorhome... We Can Help You Secure your Motorhome or Motorcoach loan financing. Motorhome RV Loans From $7,500  Terms on RV Loan To 20 Years. And We Also Provide Your RV Motorhome Closing Documentation Service RV Motorhome Extended Warranty Services also available If You Are Selling Your Luxury RV Motorhome...   We can help your buyer with their motorhome loan financing We prepare the loan financing documents and close the deal for you! Best of all, We ALWAYS have the lowest RV loan rates available We can usually approve your RV motorhome loan in under 3 hours We offer National Coverage in all 50 states, RV Financing is offered by Southeast Financial, who is a leader in the RV and Motorhome / Motorcoach financing industry. Our RV Loans are highly competitive with the lowest RV Loan Interest Rates and Motorhome / Motorcoach Loan Interest Rates. Call our Customer Service Department at 1-866-900-8949 to help you find the RV financing program suitable for you! Or you can apply for your RV Loan online. The choice is yours.

Are you looking to finance a boat, RV, trailer, or horse trailer? Are you just a "loan approval" away from living that dream?

Southeast Financial, Inc., is an industry leader in the finance of recreational vehicles and we can make the loan process go smoother than you ever imagined. Serving the recreational industry and their customers is not just our focus, it is our only business.

Southeast Financial's primary function is to act as an F&I (finance & insurance) source for recreational vehicle dealers all over the country. The volume of transactions created by these relationships has created a depth of experience within the Southeast Financial organization that is second to none. It has also helped us build very strong relationships with the lender banks and financial institutions with whom we do business.

What does this mean to you? It means we can get you processed faster, often having an answer on your loan application within 3 hours. And, because we know our business so well, we are able to match your financial profile with the type of unit being financed and go to the lending institutions that offer the highest approval percentages for your unique situation.

Just setting out on your search? Let Southeast Financial help you along with a no-cost 30 day pre-approval. This will not only guide you in setting a realistic budget for your purchase, it will also help any seller understand that you are a serious and capable buyer.

At Southeast Financial we listen to you and we are committed to helping your dreams come true. Call us now at 866-900-8949 , or apply online today.

Semi hauling cattle swerves to miss horse trailer, overturns

A semitrailer carrying 41 cows turned on its side in a Friday wreck on Interstate 15 just north of Helena.

The truck was heading south near the Lincoln Road exit when the crash occurred, according to Montana Highway Patrol trooper Jeremy Lee.

The driver of a pickup towing a horse trailer had missed her exit and attempted to turn around in the median for emergency vehicles, Lee said. The driver of the cattle truck veered off the side of the roadway to miss the horse trailer, which was blocking the passing lane in which he was driving.

The semitrailer went into the ditch on the side of the road and the weight of the trailer holding the cattle tipped on its side at about 11:45 a.m.

"He was able to avoid a bad crash," Lee added.

The drivers were not injured, Lee said. Four head of cattle died in the crash.

Crews from West Valley Volunteer Fire Department were on scene cutting through the trailer to get to the cattle. The cattle that survived the wreck were corralled in an adjacent field owned by the Sieben Ranch. Lee called his own ranch and got a ranch hand on horseback to assist with corralling the cattle along with help from Sieben Ranch workers.

A citation will be issued to the driver of the pickup hauling the horse trailer - Jodee Hoovestal, 46, of Helena - for illegally using the median crossing, Lee said.

Tanner C. Lee, 29 of Choteau, the driver of the semi, was heading to a slaughterhouse for North Montana Feeders cattle company when the wreck occurred. The semi was totaled.

A spokesman for North Montana Feeders said the company is not certain of the cost to replace the semi and could not estimate the worth of the cattle killed because he did not know which animals died.

The Lewis and Clark County Sheriff's Office, Montana Department of Transportation and the state Department of Livestock also were on scene.

The crash was similar to a February 2008 wreck when a semi carrying 42 head of cattle overturned on Highway 12 East. Two people suffered minor injuries and two animals died in that wreck, which occurred after the truck driver ran a red light at the intersection of Prospect and 18th avenues.

2011 Boston Marathon Registration Open Today

Registration for the 2011 Boston Marathon was open this morning at 9:00 AM. Runners may now register to take part in the 115th annual Boston Marathon, which will take place on Patriots’ Day, April 18, 2011.

 

The Boston Marathon is one of the most historic marathons in the world. It is one of the five “World Marathon Majors”, and is the single oldest marathon in the world. The Boston Athletic Association (BAA) manages the annual event.

Another great aspect of the Boston Marathon is that it has a very hilly terrain, and weather that can be extremely unpredictable. Both professional and amateur runners are permitted to run in the event, and there have been as many as 38,000 participants for a single run.

This year the marathon will only allow a little more than 26,000 runners. If you wish to register to run in the Boston Marathon on April 18, you can do so at the Official Boston Marathon Athlete Registration page. Registration will cost $130 per runner, and you must have already complete a qualifying race before submitting your application. For those applicants registering after February 1, 2011, the fee will be raised to $180 per runner. There is also an additional surcharge for international runners.