Online Financing Application
Click Here
American RV is contracted with over a dozen lending institutions to obtain the best possible financing for our customers.
Our goal is to get you the best terms available so your new
RV comfortably fits your budget
Freedom to Pre-Qualify
No SSN Required
If you are not quite ready to complete a credit application above we offer a great Pre-Qualification program which does not require your Social Security Number and does not impact your credit score. Although this option does not replace our formal credit application it does enable us to pull credit reports without submitting a hard inquiry on your credit file. When we pull credit bureaus this way, we can show you your actual credit score and show you exactly where you stand. Click the “Freedom to Pre-Qualify No SSN” button next to your favorite RV or you can click above to submit.
When you finance your purchase instead of liquidating assets or paying cash, you maintain your personal financial flexibility. Plus, your RV may qualify for some of the same tax benefits as a second home 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 a 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.
Down payments are lower - Although final terms are determined based on your credit profile and the age, type and cost of the RV being purchased, financing through RV lenders usually requires down payments in the 10% range.
Finance terms are longer / Monthly payments are lower - Because RV finance specialists know that RVs maintain their value and resale appeal, they tend to offer more attractive terms. In fact, it's not uncommon to find 10-15 year repayment schedules to help you afford the RV of your dreams.
Borrowing against an owned home is not an option unless the money is used directly for that home. Home mortgage interest deduction is restricted to interest paid on mortgage debt used to purchase or improve a residence, or to refinance the remaining balance on a purchase or improvement. The purchase of an RV, therefore, does not qualify for this deduction. Home equity loans limit the amount of interest that is deductible, if your RV loan balance exceeds $100,000. Home mortgage interest deduction is limited to interest paid on home equity loans up to $100,000.
Your RV might actually cost you less in the end if you finance your purchase. By not tapping into your financial assets to purchase the RV, you can take advantage of attractive new investment opportunities that might come along and the earnings from those investments can potentially exceed the cost of your RV financing. The bottom line is that if you are thinking of buying an RV, you should check financing options to maximize your purchase enjoyment. You'll be on the road enjoying your new RV before you know it!
Click Here to Get Your Financing Started
For specific financing questions contact our finance department at 1-812-867-5200 or email finance@americanrvcenter.com
