I want to try to purchase a modular home from Clayton Homes. Should i go through there finance dept or bank?

12.March, 2009

Which would be cheaper?

You will have to compare and see but I can tell you this much in the car business we get whats called a buy rate from our banks and then mark that up 1-3 points and this becomes the sell rate, this generates whats called back end profits for the dealer and I would bet that modular home finance departments work the same way.

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2 Comments für “I want to try to purchase a modular home from Clayton Homes. Should i go through there finance dept or bank?”

  1. bdancer222 sagt:
    12.March, 2009 um 12:52 pm

    Check with the bank to see what kind of terms you can get. It’s always smart to shop around for a loan. However, not all lenders will finance a modular home.

    I hope you plan on putting the home on property that you own and not a rented space in a park. You are more likely to get a mortgage and your home value will be better, not to mention avoiding all the pitfalls of renting mobile home park spaces.
    References :

  2. SPIFIMAN1 sagt:
    12.March, 2009 um 1:19 pm

    You will have to compare and see but I can tell you this much in the car business we get whats called a buy rate from our banks and then mark that up 1-3 points and this becomes the sell rate, this generates whats called back end profits for the dealer and I would bet that modular home finance departments work the same way.
    References :
    Finance Manager for a car dealer for over 9-years.

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