Your RV financing can be an easy, straight-forward process. Recreational vehicle lenders already consider you among the 98.5 percent of RV buyers faithfully repaying their RV loans and are willing to offer you extended RV loan terms. Furthermore, current record-low interest rates allow you to save money, or upgrade your RV purchase, and make affordable monthly payments. At PRC you can get the lowest motorhome rv finance rates out there.

There are many ways you can finance a recreational vehicle. Your loan for a new or used RV might range anywhere from 8 to 20 years, and have a down-payment of between 10 and 20 percent. With any RV loan, the three keys to keep in mind are: down payment, interest rate and loan terms.

After you've selected an RV lending source to finance your recreational vehicle, you'll need to be approved by your lender. (Click here to be pre-approved in minutes.) The paperwork required may be called a "loan application," "finance application," or "credit application," and provides information the lender uses to approve your loan. Take your time accurately completing your application.

You may be concerned that your credit rating is lower than at the time of your original recreational vehicle purchase, compromising your ability to refinance. Prepare yourself by obtaining and reviewing a copy of your credit report before applying to refinance your recreational vehicle loan. This review allows you to catch and correct any errors, improving your rating as much as possible. You can obtain a credit report by contacting Equifax at 1-800-685-1111, Experian at 1-800-520-1221 or Trans-Union at 1-800-916-8800. Remember: Each time you request a credit report your rating is temporarily lowered, so if you believe your credit is good simply forgo this step.

If you have had credit problems, be prepared to discuss them honestly. RV loan professionals know there can be legitimate reasons for credit problems, such as unemployment, illness or other financial difficulties. If you've resolved such problems and your payments have been on time for a year or more, your credit may be considered satisfactory. If you have bad credit all other aspects of your loan need to be in order, including evidence of equity, stability, income and assets. Late mortgage payments or bankruptcy can do significant damage to your credit rating.

You may be interested to know that the interest on your recreational vehicle loan can be deductible as second home mortgage interest. To qualify, your RV must be used as security for the loan and must have basic sleeping, toilet and cooking facilities. Virtually all RV types including motor homes, travel trailers, fifth wheels, truck campers and even some tent trailers are equipped with these facilities. For more information, contact your tax professional or call the IRS at 1-800-829-3676.

You can refinance your recreational vehicle online and save both time and money. While conveniently doing business from the comfort of your home, you may be able to take advantage of lower interest rates and better financing terms generally offered by online companies. Low RV Financing offers both competitively low interest rates and friendly financing terms, and specializes in recreational vehicle refinancing. Click on this link to see how much you can save.

NOTES AND GUIDELINES - LEARN FROM THE PROS

- sUnits 1997 or older and under $100,000 will have a .25% rate increase

- 20 year terms (240 month) generally require a minimum of 25% down payment

- Loan amounts $75,000 and above may receive 20year (240 months) terms

- Loan Amounts from $25,000 to 74,999 may receive 15 to 17- year (180 -204 months) terms

- Loan Amounts from $10,000 to 19,999 may receive 10-12 year (120-144 month) terms

- Loan amounts from $5,000-$9,999 may receive 7-10 year (84-120 month) terms

- 90 days no payment available on loans exceeding $299,000

- Approvals and rate commitments are good for 45 days from loan application

- Minimum payments will be no less than $125

- AK, AL & HI residents are not eligible for loans at this time