RV Buying Tips - New and Pre-Owned FAQs
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Buying an RV
Get the Facts About RV Financing
There’s
no better time to buy an RV! You’ve searched and researched and you’ve found the
RV of your dreams! Whether it’s new or used, the question now is how can you
make that dream a reality? The answer: by financing your purchase with terms
that make it affordable for your budget.
Most dealers have already arranged on-the-spot financing through one or more major lenders and will work to make your purchase dream come true. Their in-depth knowledge will make the process go that much smoother.
Why Finance Your RV?
When you finance your purchase instead of liquidating assets or paying cash, you maintain your financial flexibility. Plus, your RV may qualify for some of the same tax benefits as a second home or mortgage. Of course, 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 sleeping area, bathroom and cooking facilities. Remember, the RV is considered a qualified second residence as long as you designate it for each tax year.
What are the advantages of financing through an RV lending specialist?
Down payments are 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.
Monthly payments are lower – Because RV finance specialists know the industry, it's not uncommon to find 15-20 year repayment schedules to help you afford the RV of your dreams, resulting in managable monthly payments.
The
Last Word on RV Financing
Your RV might actually cost you less in the end if you finance your purchase. By not tapping your financial assets to finance your RV, you can take advantage of attractive new investment opportunities, 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 on the road enjoying your new RV before you know it!
Get the facts about RV Specific Insurance
Specialized RV Insurance
Protect Your Investment – Get the Facts about Specialized RV Insurance
CLICK HERE TO GET A FREE RV INSURANCE QUOTE
Why choose Specialized RV Insurance? Your RV, whether new or old, is a special vehicle requiring special consideration. Just as you wouldn’t go to your family doctor for a toothache, you shouldn’t go to a general insurance company to insure your RV.
An
RV is a home on wheels. Specialized RV Insurance is a unique blend of auto and
homeowner’s insurance coverage, yet the price is typically comparable or less
expensive than standard auto insurance.
What’s Special About Specialized RV Insurance?
Total Loss Replacement (TLR) – Coverage is a major difference between a standard auto policy and a specialized RV policy. With TLR coverage, if your RV is totaled, the insurance company either replaces your RV with a new one or pays you your initial purchase price, depending upon the age of your unit at the time of loss.
Agreed Value Coverage – Offered for classic coaches and bus conversion vehicles that don’t have a standard market value. With a bill of sale or qualified appraisal, you can lock in the coach’s value up front. This protects your investment in the RV without the worry of depreciation in the event of total loss.
Full-Timer Coverage – Without a homeowner’s policy, RV’ers who live in their vehicles full-time are left with major exposures. Personal liability, additional living expenses, and stored personal effects coverage are included in RV specialty policies to protect full-timers’ unique needs.
Experienced RV Claims Handling – While you may never experience a serious loss with your RV, specialized RV insurance companies give you peace of mind knowing that your claim will be handled by professionals with RV experience, not simply standard auto adjusters.
Disappearing Deductible Coverage – Designed to reward good drivers by reducing comprehensive and collision deductibles by 25% of your original deductible for each claim-free year. If a loss occurs after four claim-free years, you pay no deductible on your claim.
Personal Contents Coverage – Covers personal property, such as housewares, tools, clothes, and sporting goods. A homeowner’s policy may provide coverage, but there are often limitations to coverage for off-premises property, items in storage, or belongings damaged in a collision. RV specialty policies replace stolen or damaged items at full replacement cost.
Other Benefits of RV Specialty Coverage
Add-Ons
and Tow Dollies Included – Most RV specialty policies automatically cover items
like awnings, antennas, external racks, and satellite dishes for no additional
charge. Additionally, tow dollies and trailers are often included in coverage.
Free 24-Hour Emergency Roadside Assistance – With most policies, insurance companies will cover the towing of your RV to the nearest qualified repair facility, regardless of cost. These policies are often extended to the tow or towed vehicle, as well, if it’s being used in conjunction with the RV.
Emergency Travel Expense – If your RV is incapacitated due to a covered loss, most RV policies cover the cost of a rental car and/or hotel room while your RV is being repaired. If your RV is irreparable, the policy can cover airfare to return you and your family home.
Vacation Liability – Specialized RV policies accommodate the unique risks involved in the RVing lifestyle. If someone is injured at your campsite, your liability exposure is covered up to policy limits. Some companies actually extend this coverage to your entire vacation experience.
A Variety of Discounts – Be sure to ask about all discounts offered by an RV specialty insurance carrier. Membership in an RV club, supplemental braking systems or completion of a safe driving course are just some of the discounts available on a state-by-state basis.
How Do I Find a Specialized RV Insurance Provider?
There are a variety of ways to find the specialized RV product best suited to your needs. RV clubs, Internet and many RV dealerships can put you in touch with one of the national companies that specialize in coverage for RV owners.
The specific coverage you purchase may vary slightly from the descriptions listed above. Your policy is your contract so be sure to read it carefully.
The Final Word
If you currently own an RV, review your policy to be sure you have the protection described above at a reasonable price. If you are thinking of buying an RV, be sure to discuss the availability of coverage with an RV-experienced agent or insurance company. Protect yourself by properly insuring both your investment and RV’ing lifestyle with specialized RV insurance.
When cost is critical, consider a pre-owned RV. RV dealers from coast to
coast carry them, and many of the units have fully equipped kitchens and baths,
queen sized beds, central air and heat, and entertainment options.
Whether you’re looking for a towable RV or a motorized RV, you’ll likely pay one-third less for a pre-owned unit than a similarly equipped new unit.
RV dealers may provide you with a pre-delivery inspection of the vehicle. Dealers place a high priority on selling well-maintained RVs. At a dealership, you can compare prices on various units with similar features. This will give you a better understanding of an R’s market value. RV dealers can offer you extra protection for your used RV purchase through extended service agreements.
Thank You!
