Latest News, Rv Blog, Uncategorized

Welcome!

Financing an RV is very difficult in today’s banking climate. Recreational vehicles are considered a luxury, not a necessity. Banks feel that if someone is in a bind, their RV will be the first thing people will let go back to the bank.

Most lenders offer terms up to 240 months (20 Years), making owning an RV very affordable.

When you apply for a loan, be prepared to show proof of income, as well as a personal financial statement showing all the liquid assets you have including tax returns. Remember, part of the reason we are in the dire financial situation we are today is because banks did not ask for this in the past. Banks are really concerned if you do not have the liquid assets to make payments if you lose your job, or if your income shrinks.

We are not tax consultants, however there are some great tax benefits for owning an RV. Interest is still deductible, if you qualify. A large portion of sales tax has just been added this year and provides more to write off.