Once you decide to buy a RV, you need to figure out what type of motorhome financing you are looking for. motorhome financing is very similar to cars, the good news is that banks and finance companies look at RV buyers in a positive light, What..you ask?? well history show that 98.5 percent of RV buyers repays the loan without defaulting.

It is very important that the buyer comes in with a level head and not let his emotions control the thought process. Remember, the RV dealers is not your friend, they are trying to make as much money on the deal as they possibly can, and the RV finance officers makes all of his money from financing.

When buying recreation vehicle you have to figure out how long you are willing to finance your RV. The typical terms are from 8 to 20 years/ Another aspect to consider is the down payment. As you already know the more down payment the lower your payment will be, and you possible can get a better deal with a higher down payment.

Another very important factor to consider is your credit. You credit can make or break your deal and your dreams, It is very likely that you won’t be able to get an RV unless you have very good credit or even above average credit. We will try to cover more in detail of what to expect with bad credit and pretty much all your options in motorhome financing.

OK, let’s start with taking a trip to the dealer and looking at some RV’s. On the way to the dealer try to calm yourself, yes you’re going into battle but you have to be cool about it, for example, pretend your playing poker. So, go with the poker mentality. When you get to the dealer don’t act scared
and don’t act like the salesmen have some sort of deadly virus.

Let the salesmen do he’s job, this included showing you models that you like, taking you on test drive, talk about options. This is the easy part so enjoy it and focus on the model that is right for you. During this process, do not try and negotiate In any form. The sales men will not give you a straight answer and will probably say something like “let’s go inside and see if we can make it happen”. So, just pick out the model you want and focus on model you want to take home.

Once you pick out the model get ready for battle number one, the sales men. Ok, now you are
sitting at the table and he will ask you “what do you want to pay” pretty much just have them give you the starting price first. At this point, if you have done your homework you will know what is or is not a good price. The question is.. Where should I do my homework? In my opinion the best place to find help on RV’s information is on the RV forums. Lots of these people have already bought the RV’s so they can tell you what they paid for them. This will help you with a price that you want to pay.

We will cover more about motorhome financing and Buying in part 2

If you walk, then you can count on this process as experience. Just go to the next dealer and do the same thing. If the first dealer gives you the price you want, then be happy, but you are not out of the woods yet. Get ready for RV financing.

Motorhome financing can be a tricky part. First, you have to figure out how long you want to finance your RV. Most dealers will offer 8 to 20 years. Once you know how long you want financing, then if you did your homework, you will know if you want your RV financing from the dealers or the bank. If you got financing from the bank then you are pretty much done. If you need financing from the dealer, then the next part is important.

Once inside the finance office you will need to listen to what the finance officer offers you. The next step will be deciding on extended warranty, extra coverage, extra maintenance. Most of the time the Motorhome financing officer will try to give you lower financing rate if you buy an extended warranty, this is where he makes his money.

At this point you are pretty much in the clear. The only thing you have decide is, If you want to haggle over finance rate, extended warranty amount, maintenance contract. Good luck with your purchase.