RV Financing Tips

RVs can be pricey, and high-quality models will require higher investments. However, saving up for a nice RV can take months, and a majority of buyers prefer to finance their models in order to get their hands on their rig in a more reasonable amount of time. If you’re planning on financing your new RV, we strongly recommend checking out our article below to learn the basics of how to apply for an RV loan.

Prep Your Finances

To ensure you receive a good loan offer, you’ll need to take some time to prepare your finances for your upcoming purchase. To start, we recommend raising your credit score as high as possible, and we advise you not to apply for financing until it’s at least over 650. You’ll also need to save up for a down payment before you apply for RV financing, as you’ll be expected to pay anywhere from 10 to 20 percent of your model’s sticker price. Finally, don’t forget to have a budget set for your upcoming loan payments, to ensure you don’t fall behind on bills and get caught up in unnecessary debt. 

Applying For Financing 

There are plenty of lenders to choose from when searching for RV financing. Banks, credit unions, online institutes, and your dealership are all viable options, and we strongly recommend researching your options before you decide to choose one over the other. You’re also welcome to apply with more than one institute and directly compare each offer. Just be careful not to apply with too many lenders at once and inadvertently lower your credit score. 

To take advantage of convenient and affordable RV financing, make a stop here at Baydo's RV Center. Our expert staff will be happy to walk you through the application process, answer any questions you may have, and even give you a tour of our impressive selection of RVs for sale. If you’re located nearby in Tacoma, Washington, feel free to stop by our location here in Fife, WA, for all of your RV needs!