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Our Financing Department

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FINANCING DEPARTMENT

If you’ve decided you want to finance your new motorhome, you’re not alone, 70 percent of RV enthusiasts do. With a minimum down payment and approved credit, you can arrange credit financing with us and head out on the road a few hours after picking out your new Class B, B+ motorhome or Class C motorhome. In addition, you can include everything in your financing— parts, accessories, apparel, insurance, and more. You’ll have everything you need, and only have to make one monthly payment.

We finance more Hymer, Midwest, Gulf Stream, Winnebago, Chinook RV, Coachmen, Dynamax, Leisure Travel Van, Pleasure Way, Renegade, and Roadtrek motorhomes than anyone else, and we understand your needs. Only someone who knows how you feel when you hit the ignition understands that hitting the road ASAP is your primary goal. That’s why we make it easy.

We can arrange RV financing for your purchase of new and used motorhomes at Van City RV. We’ll work to get you the lowest monthly payment at the best rate possible. Apply online or stop in and speak with our finance manager.

Talk to Van City RV about financing your motorhome, and head out on the road today.



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WHY FINANCE YOUR RV?

When you finance your purchase instead of liquidating assets or paying cash, you maintain your personal financial flexibility. In addition, your RV may qualify for some of the same tax benefits as a second home mortgage. Of course, check with your tax advisor, but generally, qualifying for these benefits or deductions such as interest on the loan, the RV must be used as security for the loan along with providing basic living accommodations like a sleeping area, bathroom and cooking facilities. Remember, the RV is considered a qualified second residence as long as you designate it each tax year.

The many advantages to financing your RV Include:

1) Lower Down Payments: 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 allow down payments in the 10% range;

2) Longer Finance Terms: Because RV finance specialists know that RVs maintain their value and resale appeal, they tend to offer more attractive terms;

3) Lower Monthly Payments: it’s not uncommon to find 15-20 year repayment schedules to help you afford the monthly payments on the RV of your dreams



HOW IT WORKS

Borrowing against an owned home requires that the money be used directly for that home. Your home mortgage interest deduction is restricted to interest paid on the mortgage debt used to purchase or improve a residence, or to refinance the 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.



THE LAST WORD ON RV FINANCING

Your RV may 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 possibilities, 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, it’s best to check financing options to maximize your purchase enjoyment. You’ll be on the road enjoying your new RV before you know it!