OK your ready to get an RV loan to buy your dream RV, but you have questions. Where do I go to get a loan? Should I do something prior to getting a loan?. How do I get a good interest rate? Will I be able to afford the monthly payments? What if I get turned down? Oh Great, now I am dazed and really confused and my head is spinning and I feel ill.
Calm Down and take a breath, I am going to help you. Getting an RV Loan isn't Rocket Science (actually Rocket Science is easier than getting an RV loan, JUST KIDDING).
How do I get a good interest rate?
The first thing you need to understand is that just like any loan your interest rate is based on your Credit Score. Do you even know what your Credit Score is? This is an important topic, so we have dedicated a whole page to it.
Your RV Loan Interest Rate Will Depend on Your Credit Score.
Once you've completed the section on credit reports you should review the two additional steps to getting a loan for an RV. These steps will answer all of your other questions about getting a loan for an RV.
Step 1: What to do before financing an RV. Actually these are items that you should ponder, before actually seeking a loan. These are monthly costs for owning an RV and should be reviewed before deciding what monthly loan payment amount you can afford.
Some of these items may not have even crossed your mind, that is why I am here to bring them to your attention (because that's what I do).
Step 2: Is a primer (tells you how to do things) on getting the best loan you can on your RV purchase. How diligent you are at completing step 1 will determine, how well step 2 will turn out (that's a hint, if you skipped step 1, you might want to go back and take a look at it). I will give you a few tips on shopping for a loan (and this is definitely not like buying eggs at a supermarket with a coupon).
I know how excited you are about getting an RV. We were too, when we got our first RV and our second RV and our third RV etc. By providing these steps, I hope that I have helped answer some of your questions about RV Loans.
Once you have purchased your RV, you will have a chance to experience the RVing Lifestyle, and I know just like us, you will love it. The memories you create by RVing will last you a lifetime making the steps you had to take to get your RV worth the effort.
This information is for educational purposes. VIARV shall not be responsible nor retain liability for RVer’s use of the provided information. Prior to making any RV service decision, you are advised to consult with an RV professional.