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Purchasing a recreational vehicle, better known as an RV, is an exciting endeavor. Road trips, camping, family bonding, and all sorts of adventures await. However, RVs are a significant expense, with prices ranging from $10,000 to $500,000 and more depending on the year, make, and model. 

With this in mind, many people choose to finance their RV. The process for getting an RV loan is just like that of a car loan. The team at Bretz RV & Marine knows that this can be a daunting feat, but fear not. We are here for you every step of the way and will walk you through the entire process so that you feel confident with your purchase. 

Your Trusted RV Dealer in Idaho and Montana

We use a variety of methods to ensure the best possible price for your used RV, including an estimate, inspection, and thorough appraisal. Our staff at Bretz RV & Marine can help you navigate the process, answer your inquiries, and help you succeed in your goals. With us on your side, you can achieve the following:

• Finance a new or used RV.

• Refinance a loan.

• Secure a loan with a low interest rate.

• Get a loan with good, bad, or no credit.

• Lock in payments for 90 days on approved credit.

• Upgrade your old RV through our Trade-Up program. 

How Do RV Finance Loans Work?

An RV loan can help you finance the purchase of a new or used motor home, trailer, or RV so that you don't have to make the full payment outright. As RVs range vastly in size and price, the terms and size of these loans can vary. These types of loans are different from auto loans since they are typically larger and more complicated purchases.

Although many people can get a loan for up to $25,000 for RVs, some loans can reach up to $300,000 with terms as long as 20 years. We will work with you to find the best fit for your budget and lifestyle. 

What Are the Steps for Financing an RV?

Figure Out Your Budget

Before you apply for a loan for an RV, you need to have a clear understanding of what you need and how you plan on using it. The cost of an RV is based on several different factors, including size, type, and age. In addition to certain features, such as interior finishes and add-ons, the price can quickly increase. 

Are you looking for a compact camping trailer? Or something more luxurious for extended stays at campgrounds? Having a list of desired specs and features will help you make informed decisions during the buying process. Next, take a look at your finances and assess what you can afford to pay each month.

Know Your Credit Score

Your credit score is a vital factor that will determine whether or not you qualify for an RV loan. Other factors, such as the size of the loan, can also affect the interest rate that you pay. Having a strong credit score and history can help you secure the best possible deal on an RV loan.

Have a Down Payment Ready

Before you buy an RV, make sure that you have the down payment readily available. Recreational vehicles typically require a larger down payment, ranging anywhere from 10% to 20%. We recommend putting as much down as you can. 

Having a larger down payment can help lower your monthly expenses and lessen the interest rate that you pay on your loan. It's also a great option if you don't have the best credit as it reduces risk for your lender. 

Negotiate the Terms and Sign the Paperwork

Once you figure out your budget and pick your RV from the lot or our website, it's time to negotiate the terms of your purchase with Bretz RV & Marine. We'll walk you through all of the steps and make sure that you understand the loan terms. Once we reach an agreement, you'll sign all of the necessary paperwork and be handed the keys to your dream RV.

Tips for Staying on Top of Your Loan

Getting the right financing for an RV can be a daunting task, especially if you are not familiar with the details. This is why it's important to stay informed about the various pitfalls that can affect your experience. Defaulting on your loan can tank your credit score and have serious repercussions. Here are some tips for staying on top of your loan:

• Make sure that you are borrowing within your budget.

• Put money aside for additional costs, including storage, maintenance fees, and gas prices.

• Pay attention to dealership offers to maximize your savings. 

• Pay more than your monthly payment when you can afford to so that you can pay the loan off faster. 

• Put more money down for a better interest rate.

Take Advantage of Our Deals

90-Day Financing

We are here to help you with any of your financial needs. We are currently offering a 90-day financing option for new and pre-owned RVs as well as a stacked discount on all of our new or used trailers and vehicles. This means that you have 90 days until your first payment with approved credit. It doesn't get any easier than that.

RV & Boat Trade-Up Program

Our Trade-Up program allows customers to upgrade their old boats or RVs with a similar payment. We are experts in appraising used motor homes, travel trailers, and boats. We will make the entire process of trading in your boat or RV simple and will work with you to get the deal done in less than two days. To learn more about the Trade-Up program, please contact our sales team today so that we can further assist you. 

Ready to Finance Your New RV?

Here at Bretz RV & Marine, our objective is to earn your business by providing you with the best possible service and prices. We use our vast buying power to create competitive prices and deliver exceptional customer care. 

We are family owned and operated and guarantee that you are getting the best prices, whether you are in Idaho, Minnesota, or anywhere in between. Our employees are some of the most knowledgeable individuals in the industry and are here to help. Stop by today to get one step closer to purchasing your dream RV.