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Financing
Specials
12 Months interest free on purchase of any Extended Service Contract.
also
Ask about introductory pricing on interior and exterior protection against fading and stains!
Financing
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?
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% range.
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.
How Does RV Financing Compare With Other Payment Options?
Borrowing against an owned home is not an option unless the money is used directly for that home. Home mortgage interest deduction is restricted to interest paid on mortgage debt used to purchase or improve a residence, or to refinance the remaining balance on a purchase or improvement. The purchase of an RV, therefore, does not qualify for this deduction. Home equity loans limit the amount of interest that is deductible, if your RV loan balance exceeds $100,000. Home mortgage interest deduction is limited to interest paid on home equity loans up to $100,000.
The Last Word on RV Financing
Your RV might actually cost you less in the end if you finance your purchase. By not tapping into your financial assets to purchase the RV, you can take advantage of attractive new investment opportunities that might come along and the earnings from those investments can potentially exceed the cost of your RV financing. The bottom line is that if you are thinking of buying an RV, you should check financing options to maximize your purchase enjoyment. You'll be on the road enjoying your new RV before you know it!
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?
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% range.
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.
How Does RV Financing Compare With Other Payment Options?
Borrowing against an owned home is not an option unless the money is used directly for that home. Home mortgage interest deduction is restricted to interest paid on mortgage debt used to purchase or improve a residence, or to refinance the remaining balance on a purchase or improvement. The purchase of an RV, therefore, does not qualify for this deduction. Home equity loans limit the amount of interest that is deductible, if your RV loan balance exceeds $100,000. Home mortgage interest deduction is limited to interest paid on home equity loans up to $100,000.
The Last Word on RV Financing
Your RV might actually cost you less in the end if you finance your purchase. By not tapping into your financial assets to purchase the RV, you can take advantage of attractive new investment opportunities that might come along and the earnings from those investments can potentially exceed the cost of your RV financing. The bottom line is that if you are thinking of buying an RV, you should check financing options to maximize your purchase enjoyment. You'll be on the road enjoying your new RV before you know it!
Financing FAQ's
Q. Can interest on RV loans be written off on my taxes?
A. Yes, as a second home. See your tax professional for specifics.
Q. Are there any pre-payment penalties on an RV loan?
A. No, they are “simple interest” loans with NO pre-payment penalties.
Q. Can I finance my service contract in my loan?
A. The answer is YES. You can also pay ZERO interest for 12-18 months and finance it separate from your rv loan.
Q. Do I have to put money down to qualify for an RV loan?
A. In most cases cash down or trade equity will make qualifying for a loan easier. We do however have some lenders that will consider loans with no money down.
Q. Can I add my new RV to my auto insurance policy?
A. The answer is yes you can, but consider that the coverage may not be as good as what RV insurance gives you. See our finance department for a free quote.
A. Yes, as a second home. See your tax professional for specifics.
Q. Are there any pre-payment penalties on an RV loan?
A. No, they are “simple interest” loans with NO pre-payment penalties.
Q. Can I finance my service contract in my loan?
A. The answer is YES. You can also pay ZERO interest for 12-18 months and finance it separate from your rv loan.
Q. Do I have to put money down to qualify for an RV loan?
A. In most cases cash down or trade equity will make qualifying for a loan easier. We do however have some lenders that will consider loans with no money down.
Q. Can I add my new RV to my auto insurance policy?
A. The answer is yes you can, but consider that the coverage may not be as good as what RV insurance gives you. See our finance department for a free quote.
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Financing
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