Good Sam RV Travel Guide & Campground Directory

RV Financing Kailua Kona HI

You've finally found it! After weeks or maybe even months of research, walk-throughs and test-drives, you've chosen the perfect RV for your family. Before the negotiation process even begins, your spouse has planned your first trip in the new rig, and the kids have placed dibs on where they'll bunk. Yet surrounding all the excitement looms the question: RV Financing - how are you going to pay for it? Read for more.

American General Financial Services Of Hawaii Inc
(808) 326-2626
75-5737 Kuakini Hwy Ste 104
Kailua Kona, HI
 
AutoLoansInHawaii.com
(808) 756-9311
Hilo, HI
 
American General Finance
(808) 671-5664
94-1040 Waipio Uka St Ste 7
Waipahu, HI
 
Pay Day Hawaii
(808) 696-4600
87-133 Gilipake St
Waianae, HI
 
Cash Advantedge
(808) 696-7368
86-078 Farrington Hwy
Waianae, HI
 
Finance Factors
(808) 322-2747
78-6831 Alii Dr Ste H1
Kailua Kona, HI
 
Benchmark Mortgage
(808) 891-0415
2395 S Kihei Rd Ste 203b
Kihei, HI
 
Budget Pros Inc
(808) 674-8767
91-1004 Kanihaalilo St
Kapolei, HI
 
Hawaiiusa Federal Credit Union
(808) 625-5999
Mililani Shopping Ctr
Mililani, HI
 
Creative Financial
(808) 891-9292
320 Ohukai Rd Ste 413
Kihei, HI
 

A Practical Guide to Financing Your RV

Provided By: 

A Practical Guide to Financing Your RV


Melinda Baccanari

You've finally found it! After weeks or maybe even months of research, RV sales showroom walk-throughs and test-drives, you've chosen the perfect RV for your family. Before the negotiation process even begins, your spouse has planned your first trip in the new rig, and the kids have placed dibs on where they'll bunk. Yet surrounding all the excitement looms the question: RV Financing - how are you going to pay for it?

The astute consumer is prepared for this question before even beginning to shop. Armed with a solid understanding of the financing process, you can drive away with your dream RV – and keep your budget intact.

Pay Cash or Finance?

If you have the means, it may be tempting to avoid monthly payments and purchase your RV with cash. However, that's not necessarily the most sensible option.

Cash buyers sometimes mistakenly believe they're saving money by avoiding interest payments. However, consider the loss of earning power from the money you put into a RV. For example, any income derived from liquidating an asset may incur a capital-gains tax. Or, if your money is in a bank certificate of deposit (CD) that has not yet matured, you may incur a penalty for early withdrawal.

With affordable interest rates and flexible payment options, taking out an RV loan may be a smarter option. Financing your rig frees up your assets to invest your money in real estate, stocks, bonds or high-yielding saving plans.

A good RV loan affords greater flexibility and can yield lower monthly payments. Financing might even allow you to purchase a larger RV than if you paid with cash.

Determine Your Price Range

The easiest way to determine how much you can spend on an RV is to evaluate your monthly income and outflow then figure what you can afford to spend each month.

There are many websites that offer online tools to help you calculate the loan amount and monthly payments, including the Woodall’s Finance Center. Simply go to www.essexcredit.com/woodalls and click on the “Loan Calculator” link. You can find the Woodall’s Finance Center’s current interest rates and request a custom rate quote.

Loan Options

RV financing is easier than ever with flexible payment plans. Loan terms for both new and used large RV’s now extend up to 20 years. The minimum down payment for an RV is typically between 10% and 20%, but some finance companies also offer "No-Money-Down" loan program options to qualified applicants.

Be Prepared and Get Pre-Approved

Having a loan approval in hand before walking into an RV sales showroom is like having an ace in the hole. The process is simple. Many finance companies offer free quotes and no application fees, so it's a safe start to your purchasing process. Once pre-approved, you'll know exactly how much you can afford to spend.

Before applying for a loan, it's helpful to know your credit history. Having ...

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