Financing Your RV
It’s rare that someone has all the money needed to buy their first recreational vehicle. RVs cost thousands of dollars, so they’re a big investment that often require a large budget paired with financing options. At Happy Camper RV Sales, we’re here to make the RV financing process easier. Read on to learn more and give us a call at one our locations in Boise, Garden City, or Nampa, Idaho when you’re ready to see some campers for sale. We also proudly serve Meridian!
Set a Firm Budget
The first step in financing your RV is to establish a solid budget. Figure out how much money you are able and willing to spend now and pay over time. Whether you buy new or used, small or large, it’s still going to cost you a decent amount of money.
Keep in mind that loan terms can range from a few years to 20 years. This means you need to consider how your finances may change over time. Don’t forget to factor in additional fees like aftermarket accessories, fuel, maintenance costs, and more. Budgeting for these factors now will help you stay out of debt in the long run.
Save Up Your Down Payment
Another part of financing a camper is making sure you have the down payment ready. In general, you’ll need to put down at least ten percent of the total cost of the rig when you buy it. It may not seem like a lot of money, but it can be a steep price, especially if you’re buying a larger, more luxurious model. Some dealers may require you to put down as much as 20 percent of the total cost. If you pay more up front, you’ll pay less over time thanks to lower interest rates.
Check Your Credit
Your credit score is a big determining factor when it comes to financing your RV and how much money you can obtain in a loan. You should aim for a high credit score (over 700). You should also consider whether you want an unsecured loan or a secured loan. Unsecured loans mean that the company cannot repossess your rig if you fail to pay it, but these tend to have higher rates. Secured loans use your RVs as collateral, so it can be repossessed. However, the interest rates are lower.
Are you ready to drive away with your dream camper? It’s time to call Happy Camper RV Sales! We have a great selection of models to choose from as well as excellent financing options. We have locations in Boise, Garden City, and Nampa, Idaho and proudly serve Meridian too. We can’t wait to help you find the perfect RV for all of your exciting outdoor adventures!