What not to do in applying for an RV loan
More Americans are hitting the road in style, making recreational vehicle sales brisk in recent years.
RV shipments reached their highest September total in 9 years, reported the Recreational Vehicle Industry Association last year. The number of units shipped was up 2.3% from August to September 2015, and up 12.4% percent from September 2014.
The growing number of retirees, as well as individuals and families, looking for flexible methods of travel is the force behind these increasing numbers.
"RV ownership is a lifestyle change," says Justin Haley, senior vice president and chief operating officer at Medallion Bank, a Utah-based industrial bank specializing in non-prime recreation loans. Purchasing one often leads to years of monthly payments, maintenance costs and other travel-related expenses.
The key to being satisfied with your recreation vehicle lies in making sure the purchase fits comfortably into your routine and budget.
Follow these guidelines to steer clear of common slip-ups when purchasing an RV with a personal loan.
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