Why Finance Your RV?
When you finance your new RV, instead of liquidating assets or paying cash you maintain your financial flexibility. Plus, your RV may qualify for some of the same tax benefits as a second home or mortgage. Of course, check with your tax advisor, but basically to qualify for these benefits, such as the deductibility of interest on the loan, the RV must be used as security for the loan along with providing basic living accommodations such as sleeping area, bathroom and cooking facilities. Remember, the RV is considered a qualified second residence as long as you designate it for each tax year.
What are the advantages of financing your RV through a Fun Town RV lending specialist?
Easy to finance!
One reason lenders are making it easier to buy an RV is because the profile of those that buy RV's are that of a responsible borrower. The delinquency rate for RV loans is one of the lowest of any financing segment, and that's a very attract risk if you're a lender. Consequently, what this means for RV enthusiasts is very flexible rates, terms, and payments, this helps to meet even the most frugal enthusiast's budget. Loans for New RVs range anywhere from 10 - 15.
What Can I afford?
It's always important to have a budget in mind before you go shopping for your dream RV. Contact one of our RV financing experts to help determine what payment is best suited for your financial situation.
Remember, it is also important to consider, that unlike your car payment, some RVs may be used as a tax deduction. That's right, the interest on your loan may be deductible as second home mortgage interest.