One thing for sure about the pandemic – it either validated or created a new love for adventure and the outdoors. When travel became more restricted in early 2020, we started to make lists of all the things we wanted to accomplish while we were quarantined like organizing closets, writing our biographies, and taking online classes. We went on long walks, planned picnics in parks, and road our bicycles (or tried to buy one – who would have known there’d be a shortage!). By summer of 2020, we were bored. Baking bread was passé. We didn’t think the pandemic would last so long. So, we started to venture outdoors where we could socially distance and perhaps experience a little travel. We started to get more creative. We started to think heading out in a recreational vehicle (RV) and camping were the best ways to venture outdoors and travel…finally!
RV Loans and Camper Loans
Although it became more difficult to find the ideal RVs and campers because of their popularity, we continued to do our research and place our orders. Aside from the pandemic and our need to travel – what became one of the most hidden secrets is how easy it is to afford and finance this type of recreation. RV Loans and Camper Loans are different than auto loans. Depending on the type and sizes, some are financed with longer terms, making the payments smaller and affordable. Especially when you compare to costs of air travel, hotel rooms and car rentals.
Most people just starting out camping with an actual camper will start with a size that accommodates their family and pets. Just be aware they all look wonderful and accommodating like extra little rooms, multiple bunkbeds and ample area to relax and watch a new smart screen television. Big note – someone in your family has to haul this camper. And most of the time, you will need a vehicle that is equipped to pull some weight when you choose a larger camper. So you may need a different vehicle to pull the camper you like! It’s best to head to your local dealership and explore all your possibilities and ask lots of questions. Here’s the fun part, campers come in all shapes and sizes. Therefore, if you plan to finance your camper, it’s best to talk with your lender before you head out to explore. Once you have an idea of how much you can afford, and what your monthly payments will be – you’ll have a better idea of what models will fit your needs and budget. We’re so good at creating your specific RV loan, the Independent Banker even wrote about it here!
Here’s the fun part about RVs – they, too, come in all shapes and sizes. And RV financing comes in all shapes and sizes, too, depending on your choice(s)! When you think of adventure, travel and the outdoors…what do you think of – water, mountains, campfires, sand dunes, lovely forests? Think about all your options because you might end up being one of those families that drives an RV towing a boat and two all-terrain vehicles (ATV)! And maybe two kayaks tethered to the roof!
Once you have an idea of the type of RV you’re dreaming of – it’s best to talk with a lender to see what type of financing is available to you. There are many different RV loan options and payment options. It’s easier to shop if you know what you can afford and feel comfortable with before you shop.
Talk with Your Lender for Quicker RV Loans Gratification
If you plan to finance your camper and/or RV – it’s definitely best to talk with your lender before you head out to shop. Most RV and camper loans have a fixed rate, with terms up to 84 months. Financing is fairly easy for these loans. You will need to complete an application, have proof of income, and details about the RV and or camper. You can certainly visit the dealership first and explore – but it’s always nice to visit your lender first so you know how much you can afford. Usually you can get your loan within one to two days so things will happen fast once you decide. The best thing about visiting your lender right away – they can help customize your payment options!
Moving out of your comfort zone and into the great outdoors!
It’s so fascinating today to see how many people are considering jet skis, multiple types of boats, ATVs and the trailers to tow all these toys. Maybe these campers and RVs will lead to some quality time outdoors with friends and family. Perhaps this is a little bit of a silver lining – the pandemic has validated or created a new love for adventure and the outdoors. Possibly a snowmobile this winter?
Chelsea State Bank offers RV and Camper Loans to help you bank local and dream global. The bankers at CSB are experienced and know the dealerships. They can guide you to the best loan option for your adventures and budget and dreams.
Simply call us at 734.475.4210 or visit our website to begin.
Loans are subject to credit review and approval.