Question on a check I got in the mail today!!

[YZ400EX]

Alright I am going to answer all my own questions on Monday anyways when I can call the bank, but am kind of excited now and wanted to see what some people would say..Anyways I get home from work today and find a letter from my bank..it says important loan information enclosed..So I open it up..Anyways I look into this envelope they enclosed with some paperwork and there is a letter that says I am a "Perferred Borrower" with my current credit union and they have approved me for any RV or Boat loan 2004 or newer from any RV dealer for the amount with a minimum of $5000-$30,000 with a 4.9% fixed interested rate..Well right away I am intrigued because of the low interested rate, but as I read farther they say I dont need to do anything, but take the enclosed check to any RV dealer and get what I want..They sent me a BLANK check that I can make out for up to $30,000..This is crazy..I dont even need to try and get a loan..They have already approved me and sent me a BLANK check..Kinda wierd..There is alot more details in fine print and so on, but I am not going into details on those..The check is not fake and is 100% real and ready to be signed with an amount to an RV dealer!! This much I know for sure. Basically what I am wondering is what do you think they mean when they say RV?? Do you guys think they mean Like Motorhome, Camp Trailer and so on or do you think RV could also be ATV's since they are also considered RV's in most cases..Just wondering what everyones input on this is?? Congrats to anyone who read all of this!! Haha:D It was kinda long, but I am somewhat excited,..and NO, I will not even think of spending all $30,000 or even close to that..

I think you should call them up and ask about the ATV thing. I dont see their reasoning for making it only for RVs and boats, so hopefully theyll let ATVs slide under it, who knows, but congrats on the check! Thats an unheard of fixed rate.

[ohski]

Loans on RV's and boats are almost like a home loan... as in you can get them for 30 years.

I'm not much on buying everything on credit but do what you want. Just be prepared to pay.

Wade

[JForestZ34]

I would call the bank like you said you were going to do. Make sure you find out all the details first before you get screwed with something they didn't tell you.



James

[YZ400EX]

Ok, I am not asking for advice on what I should do with the check or anything line that..I just want to know if you guys think that RV can also mean ATV's too?? Yea if ATV's are included I am set, but it just doesnt sound like it to me, but I guess I will know for sure tomorrow,but I dont see why not..

[416exmx]

I've never heard of anything like this before. Is sounds fishy but who knows. 4.9% is pretty good though. Let us know what you find out. Good luck!

[YZ400EX]

Originally posted by 416exmx
I've never heard of anything like this before. Is sounds fishy but who knows. 4.9% is pretty good though. Let us know what you find out. Good luck!

Yea it was kind of wierd and I have never seen anything like this before either, but I was able to call the bank yesterday before they closed and asked them to make sure it was legit and a real offer and they assured me it was because they do send them out, but the loan officer wasnt in, so I couldnt get anymore answer to any of the questions I wanted to ask.. But it is in fact a real check for up to $30,000...The wierd part is maybe I have excellent credit, but they should know I dont make enough money per month to even think of making payments on a $30,000 loan right now so I dont know why they offered it to me for that much..I guess they know there is no way I would even think of spening that much anyways..

[YZ400EX]

Ok guys I found out I can either purchase a boat, motor home or camp trailer with this check..Nothing else..I guess a small camp trailer it is then..Too bad I couldnt have gotten a new quad..:mad:

[Jackie]

Why go into dept for something you werent even in the market for? I would just go and buy a quad they all do finance and it sounds like your credit is good to do so.
:confused:

[YZ400EX]

I was in the market to buy a camp trailer this year, but was hoping that I could also get a quad..Oh well its not like I needed another one anyways..I went and looked at trailer today though and we got one on order!!:D