Financing Info
Financing a New RV
Most RV Financing today, is done by and through an RV Dealer.
The RV Dealer has Arrangements with the Banks, and Credit Unions, to handle the Credit Applications,
and Documentation on all RV Financing.
By Arranging Your Financing though an RV Dealer, the Length of the Loan(as a rule) can be over a longer
Period of time,(up to 20 years, or 240 months) there-by giving You a Lower Monthly Payment.
These Financing Programs also allow you to pay off the loan at any time without any extra fees or penalties.
Your monthly payment, goes to pay down your loan(principal Amount and Interest).
Any other payments made after that, in the same month, goes direct to pay down the principal amount owing
on your loan.
If you are arranging a 100% Financing Loan on an RV(5th wheel, travel trailer, park model, truck camper or motor home),
and if the loan is $40,000 or more, you maybe able to get up to 20 years on your loan. If the Loan amount is under
$40,000, the length of your loan can be up to 15 years.
Financing a Used RV
On Used RV's, the length of the Loan is Based on How Many years Old the Unit is. For each Year old, your financing term
will drop by one year. So, if you purchase a 5 year old RV, instead of getting a15 or (20 year loan of $40,000 or over), you will
get a 10 or 15 year financing term.
What does it take to get an RV loan?
Usually a Decent Credit History, a Stable Job with Verifiable Income, and a Stable Residence.
Also, not having a Total Debt Ratio of not more then 40%, including your RV Loan.
What is a Total Debt Ratio?
A Total Debt Ratio, refers to the Percentage of Money that You Pay Out Each Month for items you have financed, including
Your Mortgage, based on the Amount of Money You Earn.
We work with a variety of banks, and credit unions to get you the very best deal.
Contact me today, or better yet, jump start the process by filling out the Credit Application at the Bottom of this page
to get Pre-Approval on an RV Loan!
Click Here to get Pre-Approval Financing