FINANCE QUESTIONS?
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Financing Your New RV
There's no better time to buy an RV! You've searched and researched and you've found the RV of your dreams! Whether it's new or used, the question now is how can you afford to make that dream a reality? The answer: by financing your purchase with terms that make it affordable for your budget.
One-Stop Finance Shopping
At WAGERS we have arrangements with some of America's most active RV lenders. Names such as BANK OF THE WEST, MONACO FINANCIAL SERVICES, US BANK, and THOR CREDIT who features favorable terms for THOR products. We offer rapid-response financing abilities with our major lenders and will work to make your purchase dream come true.
Why Finance Your RV?
When you finance your purchase instead of liquidating assets or paying cash, you maintain your personal financial flexibility. Plus, your RV may qualify for some of the same tax benefits as a second home mortgage. Of course, check with your tax advisor, but basically to qualify for these benefits, such as the deductibility of interest on the loan, the RV must be used as security for the loan along with providing basic living accommodations such as a sleeping area, bathroom and cooking facilities. Remember, the RV is considered a qualified second residence as long as you designate it for each tax year.
What are the advantages of financing through a RV lending specialist?
1. Down payments are lower - Although final terms are determined based on your credit profile and the age, type and cost of the RV being purchased, financing through RV lenders usually requires down payments in the 10% to 15% range.
2. Finance terms are longer / Monthly payments are lower - Because RV finance specialists know that RVs maintain their value and resale appeal, they tend to offer more attractive terms. In fact, it's not uncommon to find 15-20 year repayment schedules to help you afford the RV of your dreams.
Some very general RV financing guidelines
• Most lenders require approximately 15% initial investment (down payment).
• Nearly-New RVs often finance for the same interest rate as new, unlike many auto financing programs.
• Pre-owned RVs retain market value very favorably compared to the common automobile.
• Many national lenders have 10-year RV-age limits for lending.
*Some content from www.gorving.com. Please visit this site for a wide variety of RV purchasing and family enjoyment ideas |
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