Tips for Financing Your RV

Financing an RV is a pretty common occurrence! Spacing out the overall cost of a model often makes it much more affordable, and a majority of buyers choose to purchase their RVs using a loan. However, figuring out how to finance an RV or get a good loan isn’t always easy, and we encourage you to read through our helpful guide below to help you get started.

Raise Your Credit Score

Before you start filling out applications or browsing nearby dealerships, you’ll need to give your finances a thorough once over. Your credit score will have a lot of influence over your loan rates, and it’s wise to take some time to raise it up before you start applying. An easy way to do this is to pay off your credit card bills on time each month and try to remove any debt you have on your record.

Set a Budget

Even with a loan in hand, you still need to set a budget for your RV to avoid overspending. If you’re not careful, you may end up with high payments that exceed what you can afford each month. To calculate your monthly loan budget, simply subtract your monthly expenses from your monthly income, and use what’s left over for your payments.

Consider Your Loan Type

When applying for financing you’ll have your choice of secured and unsecured loans. While secured loans are easier to qualify for, they do come with an important stipulation. Miss enough payments and your RV may be repossessed as collateral. While unsecured loans don't have this requirement, they are harder to qualify for and their interest rates may be higher.

Ready to start browsing for your new RV? Then you’ll want to visit us here at Moix RV here in Conway and Springdale, Arkansas! We proudly serve the nearby cities of Little Rock and Fayetteville, Arkansas, and offer a large inventory of RV models for you to choose from, as well as helpful financing services.