Think of Us as Your Financing Coach for Your Next Motorcoach
We’re opening the road for all the open-roaders.
Not to brag or anything…but IncredibleBank is the leading motorcoach lender in the country. But we don’t do motorcoach loans for the accolades (not that there’s a trophy or anything, though we’d gladly display it if there were), we do it for our customers. Our customers who are adventurers, travelers, ramblers. So if you’re looking to purchase a motorcoach, make us your first destination. With strong partnerships with manufacturers and fabricators, we have the experience and connections to get you on the road – fast.
Already have a loan with us and want to make a payment?
You've spent months thinking about your travels in your new motor coach, and you're ready to go! IncredibleBank can get you on the road fast. Here's a quick overview of some common questions about our financing process.
What types of motor coaches or recreational vehicles (RVs) can I finance?
We offer financing options for: Class A diesel coaches, professional conversions, specialty trailers and bus conversions. Different rates, down payment requirements, and restrictions may apply based on RV or Trailer.
What should I be looking for when shopping for an RV to finance with IncredibleBank?
For professional conversions, the vehicle should have been manufactured within the last 20 years and have mileage of less than 200,000 miles. For Class A diesel coaches, the vehicle should have been manufactured within the last 9 years and have mileage of less than 75,000 miles.
Does IncredibleBank offer pre-approvals?
We prefer to offer a full approval as we base our loan decisions not just on the applicant(s) but the collateral as well. Please contact us to discuss further financing opportunities.
How long will it take to receive a credit decision?
A credit review on an application is generally completed within 1-2 business days. A credit approval may be sent via email if an email address was provided on your application. Remember to check your Junk or Spam folder in addition to your Inbox.
Does IncredibleBank finance full-timers?
We do not offer financing for RVs or motor coaches being used as a primary residence or home.
Costs, Fees and Rates
You've researched the costs of purchasing and owning a motorhome, and you're ready to take the step forward. But what about the costs and fees associated with financing? We can answer your financial questions about a motor coach loan from IncredibleBank to help you finish your planning.
What closing costs or fees might I incur?
IncredibleBank typically charges a loan processing fee. Additional fees or closing costs such as taxes, title, or registration may be charged or financed into your loan based on circumstances.
Is there a pre-payment penalty on IncredibleBank loans?
There may be a pre-payment penalty if the loan is paid off within the first 6 payments.
Where can I find the interest rate?
Your rate depends on your loan amount, credit score, the loan term requested, the age and type of unit and planned vehicle use.
How is interest on IncredibleBank loans calculated?
All our loans are simple interest loans. You only pay interest on the principal owed.
Financing with IncredibleBank
Buying or refinancing a motor coach is a big decision! At IncredibleBank, we make the loan application and approval process smooth and quick. We work with brokers and dealers across the United States, and have helped many motor coach owners like you get on the road in the coach of their dreams.
Does IncredibleBank require income verification on all loans?
Yes. You may be asked to provide such info as:
- Completed Personal Financial Statement
- If salaried, year to date paystub and/or most recent W-2 & two (2) years 1040 tax returns with all schedules and statements.
- If self-employed, most recent two (2) years personal federal tax returns including all schedules & two (2) years business returns including all schedules & K-1s, if applicable.
- If retired, Social Security, Retirement, and/or Disability Benefit Award letter, current pension statement, annuity statement, investment and/or deposit account statements.
Are there minimum or maximum loan amounts or terms offered?
We offer a variety of terms based on age of collateral and loan amounts generally range from $100,000 to $3,000,000.
Does IncredibleBank require a minimum credit score?
Generally we prefer a credit score of 700 or higher.
How much of a down payment will I need?
You can finance an RV with as little as 15% down. We may require more depending on your credit, cash flow, and collateral situation.
When is an inspection required?
We require an inspection on all units. IncredibleBank will contact an independent third party vendor and arrange for the inspection to take place wherever the RV is located.
Can my payments be automatically deducted from my bank account?
Yes, we encourage it, especially from one of our deposit accounts . In fact, we offer a discount on your rate if you do so. Just let us know if you'd like to set up automatic payments.
Does IncredibleBank allow loans to be in the name of a Corporation, Limited Liability Corporation, or Trust?
Yes. Please be prepared to provide applicable documents for the entity when requested.
If I am approved, how long will it take to fund my loan?
You can expect your loan to fund 2-4 business days after loan approval. If an inspection is required, you should anticipate a few additional business days after loan approval. Please keep in mind that delays can arise. Delays in providing documentation by any party can cause the funding to take longer than anticipated.
What other documentation will I need to provide prior to closing my loan?
You will be asked to provide:
- Copy of driver’s license – clear and legible; more specific instructions may apply depending on your state of residence
- Insurance binder listing IncredibleBank as the lien holder
- Copy of the signed purchase agreement (if applicable)
- Investment and/or deposit account statements
- Additional documents may be required
What documents are needed to transfer ownership?
The list of documents required to transfer ownership varies from state to state and also depends on the type of transaction.
IncredibleBank is here for you after closing to help you enjoy your adventures in your motor coach!
Who will be handling the titling and registration of my RV?
The dealership, your attorney, or you (the owner) depending on the situation.
How long will it take to obtain my plates and registration?
The standard time to receive your plates and registration is 2 to 3 weeks after your loan funds; however, your experience may vary as each state varies in the length of time.
Does IncredibleBank offer repossessed RVs for sale?
We currently do not list any RVs for sale.
Can I defer my first payment?
Generally, first loan payments are due within 30 days of note date.
IncredibleBank is proud to be the bank of choice for luxury motor coach financing, and we couldn't have come this far without working with the best luxury motor coach manufacturers around.
From www.prevostcar.com : "Whether it’s finding new and smarter solutions or putting the finishing touches on our unique designs, we stand apart through our relentless pursuit of excellence. We know your investment, passengers’ safety, and peace of mind are top priorities. A product of those priorities, a Prevost coach is the ultimate partner regardless of whether you are looking for a premium touring or intercity commuter motor coach or an unsurpassed quality conversion coach ready to be transformed into a high-end motor home or specialty purpose vehicle."
From www.newellcoach.com : "Newell Coach Corporation, located in Miami, Oklahoma, manufactures, sells and services Newell luxury motor coaches. Newell Coach constructs the coach chassis and body in-house, using only the highest-quality materials. As a result, Newell offers the most sophisticated and refined coach of its type and the widest range of opportunities for customization available in a luxury motor home."
We work with the best luxury motor coach converters in the industry to help personalize that coach of your dreams.
Emerald Luxury Coaches
From www.emeraldluxurycoaches.com : "Our design and engineering team is focused on achieving perfection is everything. Every aspect of an Emerald coach, from the electronic systems to the fit and finish of our custom wood cabinetry, has been carefully engineered and selected to provide the highest level of quality."
From www.featherlitecoaches.com : "Featherlite Coaches is regarded as the industry leading Prevost conversion motor home manufacturer combining the latest manufacturing techniques, with the highest quality materials, meticulous craftsmanship, advanced engineering and yacht quality fit and finish ensuring that a Featherlite Coach is a step above the rest."
From www.marathoncoach.com : "When you order a custom designed coach, you have the opportunity to choose everything from the floorplan to the fabrics. Our professional interior design and exterior paint departments have the experience, knowledge and resources to implement your unique vision. And with thousands of different colors, materials and styles to choose from, the creative possibilities are endless. We have unparalleled skill and expertise in building the most complex, technologically advanced coaches on the road today. Find out for yourself why successful business people, music legends, NASCAR drivers, sports professionals and movie stars alike choose Marathon Coach, Inc."
Millennium Luxury Coaches
From www.millenniumluxurycoaches.com : "Millennium Luxury Coaches is one of the largest converters of custom Prevost chassis for private use and is the fastest growing of all VIP Prevost converters. Millennium prides itself in building the highest quality, most advanced coaches on the planet. In addition to New Coach Sales, Millennium has a wide selection of pre-owned Prevost coaches, offers a host of design, remodel and upgrade services, and is a Prevost factory authorized service center."
From libertycoach.com : "Liberty Coach is the premier manufacturer of Prevost motor coach conversions, the finest recreational vehicles in the world. Founded as a backyard business nearly 50 years ago, Liberty remains a labor of love today – a family owned and operated company doing what they love to do, and doing it better than anyone else."