Whether you’re buying a new or used RV for your latest excursions, getting the best deal on the entire purchase process is paramount.
From loan comparisons to knowing where you’re going to store your RV, many factors come into play when budgeting for your purchase.
At Rec Loans 360, we help prospective buyers from a wide range of budgets find their way behind the steering wheel of their dream RV at a price that doesn’t leave them in a financial bind.
Join us as we take a look at the top ways you can keep your budget in mind as you shop for your next recreational vehicle.
1. Shop Around for the Best Deals
RVing is a great way to travel and see the country. It’s also a significant investment, so it’s important to research before purchasing an RV.
There are a few things to remember when you’ve created a budget and begun shopping around for the best RV deals.
First, RV prices can vary widely, so it’s important to have a set budget in mind as you compare prices at different dealerships and online.
Second, remember that the total cost of ownership goes beyond the initial purchase price. Before you pick an RV that you think is a great deal, factor in the cost of insurance, maintenance, and repairs when you’re making your decision.
Third, take your time. There’s no need to rush into an RV purchase. By shopping around and comparing deals, you can be sure that you’re getting the best RV for your needs and budget.
Once you’ve found a used or new RV that you think could be the one to get you around the country, let the experts at Rec Loans 360 help you get connected with a financing partner that will work with you on a much more personal level than a standard bank or dealership looking to push the highest interest rates possible on your shoulders.
2. Look for Used Options
Buying a used RV can be a great way to save money. When you finance a used RV, you can often get a lower interest rate than you would on a new RV.
In addition, used RVs are often less expensive to insure than new RVs. And, because used RVs have already been through the initial depreciation cycle, you can often get more RV for your money.
Of course, there are some things to remember when buying a used RV. Make sure to have the RV inspected by a qualified technician before making a purchase.
Also, it’s critical to research other vehicles of the year and make to ensure you’re getting a good deal on a quality RV.
But if you take your time and do your homework, buying a used RV can be a great way to save money on your dream vacation home, especially if you plan on living the full-time RV lifestyle.
3. Consider Sharing the RV with Friends or Family Members
RV loans can be a great way to finance your dream RV, but they can also be difficult to obtain on your own if you have credit issues or are just starting your credit-building journey.
One option that may be available to you is to get a co-signer for your RV loan.
A co-signer is someone who agrees to sign the loan with you and is responsible for making the payments if you default on the loan.
There are several benefits to obtaining a co-signer for your RV loan. First, it may help you to get a lower interest rate on your loan.
Second, it can increase your chances of loan approval.
Finally, having a co-signer and agreeing to share all responsibilities of RV ownership may give you peace of mind beyond general financial concerns.
Sharing an RV with friends or family can cut down on overall maintenance costs, fuel costs, and makes owning an RV on a budget a real possibility.
4. List Your Wants and Needs Against Your Budget
RV prices have been rising in recent years due in part to the increasing popularity of RVing as a leisure activity.
However, several other factors have contributed to the price increase, including the cost of materials and the addition of new features.
These features can significantly add to the overall price tag but offer many benefits that make RVing more enjoyable. Some of the most popular features include:
RV Kitchens
Today’s RVs are equipped with full kitchens, complete with refrigerators, stovetops, and microwaves. This allows RVers to enjoy home comforts while on the road.
RV Bathrooms
Most modern RVs now feature at least one bathroom with a toilet, sink, and shower. This can be a great convenience for RVers who don’t want to have to stop at public restrooms or campgrounds.
RV entertainment systems
TVs, DVD players, and satellite radios are now standard features in many RVs. This allows RVers to stay entertained during long trips or inclement weather.
The addition of these common features has made RVing more enjoyable and convenient for travelers.
However, if you’re shopping for an RV on a set budget, listing out your feature wants and necessities can streamline your buying process and ensure your final purchase is worth your investment and affordable.
5. Don’t Forget Storage
Many HOAs and communities don’t allow homeowners to park their RVs in their driveways or on a property for lengthy periods of time. So, it’s likely that you’ll have to find a place to store your RV.
Based on your RV size, location, and storage center rates, you could spend between 50 and 200 dollars per month when you aren’t on the road.
6. Finance With the Right Lender
Many people dream of owning an RV, but the high purchase cost can often seem out of reach.
Fortunately, several lenders specialize in RV loans and can work with you to find a financing option that fits your budget.
RV loans can be spread out over a longer period of time. This means that you can make smaller monthly payments and still have enough money left over to enjoy your RV.
In addition, RV loans can be used to finance the purchase of both new and used RVs. So whether you’re looking for a luxurious motorhome or a simple travel trailer, there’s a lender out there who can help you make your dream a reality.
Finding the right lender is the key to getting the keys to your dream RV. Let the financial experts at Rec Loans 360 connect you with a lender that can help you and your specific financial situation. Our process is entirely online, and can have you in touch with a lender in as little as 24 hours.
Stick to Your RV Budget with Rec Loans 360
RV loans are a great way to finance your dream RV. However, it can be difficult to find a lender that is willing to work with your budget.
That’s where Rec Loans 360 comes in. We are a company that connects prospective RV owners with national lenders that can work with most budgets.
We simplify the lending process and provide quick approval via our online, secure application.
Whether you’re looking for a new or used RV, we can help you find the financing you need to make your dream a reality.
Contact us today to learn more about our RV loan options. We look forward to helping you take the next step in your RV ownership journey!
