Motorhome Loan-Getting the Most for Your Money
How do you make sure you are getting a good motorhome loan ? This is a “luxury” investment in the minds of many and they may wonder how motorhome owners afford to keep up this expensive habit. But, for the millions of motorhome owners who head out onto the road each season and the thousands more who are joining them, an RV loan is an option they take because it allows them to enjoy a recreational pastime with the freedom and independence you cannot find in any other type of travel. You have all of the comforts of home, you set your own schedule, and you don’t really have to worry about where to stay or how you will get there. However, if you can get a great interest rate with affordable monthly payments on your motorhome loan this sweetens the deal even more.
The best place to find a motorhome loan
The internet is a great resource for information about recreational vehicles as well as lenders who specialize in RV financing. PRC RV Financing offers not only great new, used and refinance motorhome loan products but also tools and resources to help make the process smoother. A bank or credit union will not have the specialized loan products that you can find with an RV lender. Although you may worry that a specialized lender will try to gouge you on your motorhome loan with high interest rates or balloon payments, this is not always true. At PRC RV Financing all of the loans are simple interest loans with competitive rates and no pre-payment penalties. They can offer low rv loan rates because motorhome owners usually have better credit ratings than other borrowers and they pass the savings on to their customers.
Steps to getting a motorhome loan
- Use the online RV loan calculator to see how much you can afford-you can compare different loans easily this way
- Get pre-approved for your loan using a quick, simple online application-it should take about half an hour to fill out and a day or two to be approved.
- Go shopping for your new or used motorhome
- Finalize your loan.