A Proven, Three Step Process

Credit Preparation

A proven process for improving credit in preparation for a loan.  Understanding how credit works is crucial.  

Loan Preparation

Getting an RV loan with a less-than-perfect credit history requires that you work with the right lender, one who understands your circumstances.

Getting a Loan

We’ll show you how to apply for a loan with confidence on your way to a new start and a new loan!

 

What Factors Determine My Interest Rate?

There are several factors that will determine your interest rate.

  1. It depends if the recreational vehicle is new or used. A used vehicle (normally over 3 years old) will get a higher interest rate than a new recreational vehicle or boat.
  2. Your down payment will affect your interest rate. The more money you pay down, the more comfortable the lender will be.
  3. The term of the loan will affect the interest rate. Some lenders charge a higher rate if you want extended loan terms.
  4. The amount financed will affect the interest rate. The lower the dollar amount the higher the rate, the higher the dollar amount the lower the rate.
  5. Your credit history (credit rating or score) will affect the rate. The higher your credit score is the lower the interest rate will be.

Can I Finance an RV or Boat With Below Average Credit?

Subprime lending is what got us where we are today! Recreational vehicle’s are considered a luxury item, so the criteria for financing are much more stringent than for an automobile or other type of necessity.

 

How is Interest on a RV Loan Calculated?

The majority of recreational vehicle or boat loans from specialty lenders are simple interest, fixed rate loans. This means you will only pay interest on the principle owed, and in most cases there is no penalty for paying the loan off early. If you choose to pay more than your required monthly payment you can shorten the term of the loan and save on interest.

Request a Consultation Now

Our agents are standing by to help answer any and all questions you may have.  We strive for excellence and to ensure that you understand the process in it’s entirety to help maximize your success.  Lets get you started!