How to Finance an RV

Financing an RV is one of the most common ways that people purchase their rigs. However, learning how to successfully finance an RV isn’t always as easy as it sounds. To ensure you get a good loan for your RV, we recommend reading through our helpful RV financing guide below.

Prep 

Before you begin applying for loans, you’ll need to prep your finances for your upcoming purchase. To start, we advise taking some time to raise your credit score as much as possible, and we recommend trying to reach a score of at least 650 to 700. While you’re raising your credit, you’ll also need to be saving up for a down payment, which is typically 10 to 15 percent of the RV's total sticker price. To ensure you don’t fall into a dangerous level of debt, we also recommend setting a budget for your RV loan while you get your finances in order. Be sure to compare your income and expenses to see what you can afford toward monthly loan payments.

Applying 

When applying for loans, we recommend putting in applications with several different financial institutions in order to directly compare your offers. This way, you can ensure that you’re getting the best loan available for your needs. You’re welcome to apply for RV financing with your dealership, bank, and even online institution, just be careful not to put in too many applications at one time or you risk seriously damaging your credit. 

Ready to start applying for RV financing? Then we encourage you to stop here at Cedar City RV to take advantage of our amazing financing services! We have two convenient locations in Lebanon, TN, and also look forward to serving our clientele from the nearby communities of Smithville and Murfreesboro, TN. Visit us today!