Questions to Ask Before Financing Your Recreational Vehicle

RVers have a plethora of options when it comes to choosing a recreational vehicle for their needs. Manufacturers understand that the majority of today’s RVers are tech-savvy millennials. It’s not surprising that they keep introducing innovative designs, which customers often find irresistible.

That said, adequate research can help you avoid many pitfalls and discover the best financing option out there. Here are the important questions you should ask as you shop for your RV.

1.    What’s the total cost of the RV?

Chances are you already have a budget in mind before shopping for an RV. In case you’re yet to take this step, it’s not too late.

The truth is that the price of an RV isn’t always the cost of the entire package. Given this, ask the dealership if you will be paying any taxes. Another question to ask is the registration fees. In short, learn about all the additional expenses to avoid any unpleasant surprises.

2.    Where can I get good RV financing?

Every RV financing specialist has its policy. Never sign any document until you read and understand the fine details. A reputable specialist will explain their policy to you in clear terms so that you can understand it better.

Ask whether paying off your RV loans early will attract a penalty. It’s ideal to create a plan for paying off the loan.

3.    New vs used RV: what’s my best option?

Apart from being expensive, a new rig may come with a hefty premium. Ensure you check the maintenance history of a pre-owned RV before buying it.

The document will reveal whether it has been involved in an accident or undergone any serious repairs in the past. It’s likely to end up with a customized rig if you go for this option.

The bottom line is to weigh your options before making payment.

4.    Do I stand a chance with my credit?

Most lenders have strict rules and regulations when it comes to offering loans. They usually check the borrowers’ credit history to determine whether they are qualified or not.

A good credit score can boost your chances of getting recreational vehicle financing on time. However, you can still have access to good financing options if you have bad credit.

5.    What features does this RV have?

The latest RV features are designed to offer comfort. Try to create a list of the features that matters to you and carry it along whenever you’re shopping for RVs. This is an easy way to narrow down your options.

For instance, a well-insulated rig with an efficient heating and cooling system is a must for those heading to a cold region.

Different risks come with skipping the inspection process. Be wary of dealers who won’t allow you to inspect the deal.

6.    What perks should I expect?

Top RVs franchises often offer additional services such as maintenance or free repairs to their customers. Nevertheless, research the terms and conditions that govern these services. This is because some perks may only be available to those who purchase new RVs.

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