RV Loans – Securing the BEST deal… (Part 5 of a “How to” Series”)
It’s fun to dream isn’t it? Many folks shop for RV’s, sometimes for years dreaming of the times they’ll have the lifestyle they’ll live. For many, turning that dream into reality requires a loan as RV’s (especially new RV’s) are a big ticket item.
Note: Following the suggestions in the following video and the information written here can help to save you THOUSANDS over the life of your RV loan.
RV loans are categorized as recreational loans. The significance of this designation is addressed in my video below… (after the video join me below the video as I share a few summary thoughts – and as always, feel free to add yours below using the reply feature on this page.)
- Lenders are looking to issue loans to people whom they believe will pay them back!
- The better your credit score and debt:income ratio, the less you’ll pay for your loan
- Credit unions and banks each have advantages to borrow from
- Recreational loans incur a higher rate than auto loans, but typically run for a longer term
- Loan interest on RV’s is potentially tax deductible – know your situation and relevant tax laws before doing so!
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