RV Financing
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Xtreme RV Finance Department
Why Finance Your RV at Xtreme RV?
With over 30 years of finance/ lending experience, Xtreme RV has the longest experience financing your new RV purchase. When you finance your RV 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, first 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.
What Are the Advantages of Financing Through a RV Lending Specialist?
Down payments may be 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.
RV finance terms are longer / monthly payments are lower -Because RV finance specialists know that most RV'ers own and maintain their RV longer, they tend to offer more attractive terms. In fact, it's not uncommon to find 12-15 year repayment schedule to help you afford the RV of your dreams.
How Does RV Financing Compare With Other Payment Options?
RV loans in Idaho are a little different than loans you might be familiar with. 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, may not qualify for this deduction.
The Last Word on RV Financing:
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 may 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 out building your legacy in your new RV before you know it!