RV LOAN INFORMATION

 

We can finance a first time RV buyer or someone who has owned RV's all their lives.

Obtain a loan for your RV from us!

RVLOAN.INFO The place that has lots of information on RV loans

RVLOAN.INFO is the place to get an RV loan tailored to your needs. 

Here at RVLOAN.INFO you can get honest, real RV loans at competitive low rate with the best terms available for your budget.

RVLOAN.INFO offers both financing and refinancing + LLC financing. How about getting a free, no obligation quote on a real RV warranty or insurance.

We have been in the RV industry for 39 years. The owners of the company are RV'ers. We know what our customers want and we have the old type customer service, we take the time to answer all questions and find the deal that you want and need. No gimmicks, we appreciate the trust you place in us.

We are RV loan specialists.  There are many choices for loans available, some are not the loans you should choose if you want the best value for your money. You may be told it is the best deal for you but if you do your homework you will realize that in the long run you'll be wasting hard earned money.

At RVLOANS.INFO we have staff that can give you the information you need to become an informed buyer, knowledge is power, your key to getting the best deal available whether for purchasing an RV or finding the financing.

There are no free rides in the financing industry. No one is going to give you something for nothing! Reputable RV lenders will all offer similar rates. The difference could be that the lender with the lower interest rate charges $200. or more dollars in processing fees. If you find a rate that is lower than the average of the leading RV Internet lenders, including RVLOANS.INFO, then you are not looking at a real, simple interest RV loan. It could be a buy-down rate or a home loan.

 The bank wants to see that you are vested in you RV and that you want to and can pay back the money borrowed. They look not just at your credit score but your credit history. Do you pay your monthly bills on time? How much debt do you have compared to your assets and income? An RV is considered a luxury item and you need to have good credit to get the best rates.

No one can give you an actual rate quote before you submit an application. After the bank underwriter reviews your application, it is then your interest rate is determined. At RVLOAN.INFO you don’t have to be concerned, we will find the lowest rate available for you. Our staff will be happy to let you know what interest range you will probably be in depending on how much you want to borrow, your credit, the type and age of the unit. You can also apply at RVLOAN.INFO and get a pre-approval if you haven’t found the rig you are looking for.

At RVLOAN.INFO you can submit an application on-line, mail or fax one to us, or call the toll-free number and have one of our staff take your financial information over the phone. Every step of the way you will be kept informed of the status of the application and the loan process.

There are a few lenders that offer 0 down financing and that is a loan that is not recommended. If you are not able to put a minimum of 10% down then you will never get equity built up in your RV. It’s pay now or pay later. One way or the other you will have to put out the money. In the meantime you have paid out more than you should have. With a 0% down loan when it comes time to sell or you want to refinance you will owe more than the RV is worth, the term used is 'upside down'. You will need to take money out of pocket to make up for the difference. At RVLOAN.INFO our minimum loan amount to refinance is $35,000.

The RV dealer is in business to sell RV's. They have also come to realize they can make enormous profits in the financing business. They do not have the restrictions that are placed upon reputable lenders as far as limiting the amount of profit possible. For some reason people do not tend to shop for financing if offered it by the dealer they are purchasing from. Dealers usually have higher interest rates and their terms are not as good. It is not impossible to find a dealership that has a conscience and truly wants your return business and does offer a good deal, but it also isn't easy. The dealer can charge what ever he chooses for any RV, and everyone is entitled to make a profit, overhead and salaries must be paid. The problem is that there are some dealers out there that are just plain greedy, they use high-pressure salesmanship, and give the unsuspecting customer a lot of sales babble. “The price is only good today, this is the only one we have left, rates are going up”, are pressure tactics. If the deal is good today it will be just as good tomorrow. Don't fall in love with one RV and just insist on having it at any cost; there are many more fish in the sea that will taste just as good. You can get a good price on the RV you want, as long as you have the knowledge. You need to be an informed buyer; there lies your power. That means doing your homework, learning the basics, learning how to sift out the half-truths and non-truths you are told. It also means shopping at many different dealerships and on the Internet to learn what you need to know.  BUYER BEWARE!

When you see an interest rate that is offered at 2.99% - 5.99% run, don't just walk away. We go to RV shows and every show we are asked by people walking by if we can beat the wonderfully low, for example, 3.99% or 5.99% rate they got from a dealer. No, at RV LOANS.INFO we can't, and neither can the other reputable lenders! We smile sadly and shake our head. They got that low rate because they did not do their homework and paid too much for the RV they bought. The dealer takes part of that profit and gives it to the bank to 'buy-down' the rate the bank will charge the customer. Sounds fine until you do the math. The only one that comes out ahead is the dealer. When it comes time to trade the unit in or sell it, it does not have the loan value it should have. One person who asked us for help when he realized what had happened, was $50,000 upside down after he had owned the rig for one year! Sad stories abound and the only way to not get caught up in them is to be an informed buyer and know how to find the best loan that suits your needs, not what others think is best for you. At RVLOAN.INFO there are never any high-pressure sales routines. If you’ve done your homework you know that our loans are what they are supposed to be, the best rate available and the terms you want. Our minimum amount to finance is $25,000.

The home loan is also not recommended. Think about why one would purchase a luxury item, and any RV is considered a luxury item, and put something as necessary to your existence as your home in jeopardy should a financial crisis occur? Let me repeat that! You are putting your home in jeopardy!

One other option that you can consider is paying cash. Let's suppose you have assets that would more than pay for the RV that you want. Why not just pay cash and not hassle with the payments. We hear this over and over again, especially at the RV shows; people are very proud that they have paid cash and have no payments to worry about. Maybe if you are so well off and never ever have to worry about money, the economy or such, paying cash is ok. The average person with a comfortable income and good or above average investments can probably pay cash. It depends on individual cases, but if your investments are making more than the interest rate you get for an RV loan why would you liquidate assets and possibly incur tax penalties? Why take away your financial protection in case of illness or other problems? The interest on an RV loan may be tax deductible; an RV can qualify as a second home, if it has kitchen sleeping and toilet facilities. Check on this fact with a tax consultant. Paying cash may be a good decision for you, only you can make that decision, we are just trying to give you information so you can make informed decisions. 

Give us a call at RVLOAN.INFO before you decide on a lender and let us show you how we can help you save money and be assured that you will not be 'upside down' after you purchase your RV.

The RV life style is a wonderful experience whether you are alone or have a large family. We hope you find the RV of your dreams and are soon out on the open road. 

Happy Camping!

 

Odds & Ends Information

Class A Motor home: a motor home that is built on a chassis that resembles a bus. These motor homes range from plain and simple to units that include hot tubs, inside and outside entertainment area with TV and stereo and many luxury options.

Class B Motor home: a van is converted by raising the top and adding cooking and toilet facilities. Usually referred to as a Camper van.

Class C Motor home: built on a vehicle chassis with a van body and front cab.

Travel Trailer: a rigid sided unit with living facilities towed behind a vehicle by means of a hitch.

Fifth Wheel: similar to a travel trailer but towed by a pick up truck with a special hitch mounted in the bed of the truck.

Diesel Pusher: a motor home with the diesel engine in the rear.

Diesel Puller: a motor home with a diesel engine in the front.

Holding Tanks: Most RV’s have three holding tanks. Black Tank: holding tank in an RV that holds toilet waste. Fresh tank: holding tank for fresh water. Grey Tank: Tank for storing water from kitchen and bathroom sink and tub.

Boon docking: staying in an RV without hooking up to electric, water or sewer facilities. Also known as dry camping or primitive camping.

Dump Station: a place where you can empty the holding tanks usually has water available. Small fee is usually charged.

Full Timer: a person that travels in their RV all the time.  The RV may be their only residence.

Part Timer: a person that travels in their RV for a vacation period or occasional weekends.

Pop Out / Slide-Out / Tip-Out: refers to expanded living area that ‘slides out’ manually or electrically when parked.  Available in motor homes, 5^th wheels and travel trailers.

Snowbird: term for one who lives in a cold climate and heads south in the RV during the winter months.

Wally World: RV’er slang for Wal Mart.

 

120 AC   12 DC   Liquid Petroleum: LP, Propane, bottled gas: 120 AC  (Alternating Current) is same power source as in a house. 12 DC (Direct Current) is the same as in motorized vehicles. In an RV some refrigerators will operate on Converter: a device that changes or converts 120 AC to 12 DC. An RV runs on 12 volt DC electricity that is supplied by the battery, or batteries. This allows the RV to function without an outside electrical source. When plugged into an electrical source the converter changes the 120 current to 12 volt to run appliances and re-charge the RV’s batteries.

Inverter: opposite of a converter the inverter changes 12 volt power to 120 AC. It’s used when no outside electrical source is available and can be used to operate microwaves, TV’s etc. The amount of power, length of time is can be used is dependent on the amount of storage capacity the batteries have and the wattage rating of the inverter.

Direct Spark Ignition or DSI: is a method of lighting the main burner on an appliance that runs on propane. The burner is lit with an electric spark and monitored by an electronic circuit board. This system is used for refrigerators, water heaters and furnaces.

Rig: what RV’ers call their RV or unit.

Hookups: Term used when at a campground to obtain electric, water and sewer. When all three are available the term used is ‘full hookups. TV and telephone service may also be provided at some facilities.

120 AC   12 DC   Liquid Petroleum: LP, Propane, bottled gas: 120 AC  (Alternating Current) is same power source as in a house. 12 DC (Direct Current) is the same as in motorized vehicles. In an RV some refrigerators will operate on Converter: a device that changes or converts 120 AC to 12 DC. An RV runs on 12 volt DC electricity that is supplied by the battery, or batteries. This allows the RV to function without an outside electrical source. When plugged into an electrical source the converter changes the 120 current to 12 volt to run appliances and re-charge the RV’s batteries.

Inverter: opposite of a converter the inverter changes 12 volt power to 120 AC. It’s used when no outside electrical source is available and can be used to operate microwaves, TV’s etc. The amount of power, length of time is can be used is dependent on the amount of storage capacity the batteries have and the wattage rating of the inverter.

Direct Spark Ignition or DSI: is a method of lighting the main burner on an appliance that runs on propane. The burner is lit with an electric spark and monitored by an electronic circuit board. This system is used for refrigerators, water heaters and furnaces.

Rig: what RV’ers call their RV or unit.

Hookups: Term used when at a campground to obtain electric, water and sewer. When all three are available the term used is ‘full hookups. TV and telephone service may also be provided at some facilities.