Tips for Purchasing a Recreational Vehicle with the Help of RV Loans

With quarantine orders still dominating the United States, it’s not surprising that many Americans have canceled or postponed their summer getaways this year. Limiting exposure to COVID-19 is nearly impossible to achieve while traveling by plane, and many hotels and vacation rentals have hit pause on their services. While summer already feels like it’s starting to wind down, you may have a handful of vacation days to take advantage of before the end of 2020. 

Now is a great time to enjoy an affordable vacation from the comfort and safety of your own recreational vehicle. Here are a few tips for purchasing an RV and planning your adventure on the road!

Decide Between a New and Used RV

When investing in a recreational vehicle, it’s important to weigh the pros and cons of buying an RV new or used. For first-time RV purchasers, experts typically recommend buying a used vehicle after doing plenty of research. Not only will you save some money, but you will also be able to tailor the vehicle to your liking — making the customization of your dream RV a work in progress. 

On the other hand, a new RV comes with many perks. In addition to the glamour presented by a vehicle that is fresh off of the assembly line, you’ll be provided with a warranty from the manufacturer that will cover any issues you may face on the road. Luckily, a recreational vehicle loan with Discovery FCU has the same rates for new and used RVs — so the choice is totally up to you!

Shop Around — Then Set a Budget

Your average RV can cost anywhere from $10,000 to $300,000 — a pretty wide gap in price range. Aside from a model’s production year, factors such as brand reputation, vehicle availability, size, and features can be the cause of price variation. 

After deciding between a new and used RV, jot down a list of must-have qualities for your recreational vehicle that will heighten the comfortability of your vacation. How many miles do you plan on traveling? Do you have a large family joining you for the adventure? Mapping out your itinerary is the best way to ensure that your trip is the most decadent experience.

Factor in Additional Vacation Costs

So you’ve narrowed down the RV of your dreams equipped with all of the features, space, and perks to make your summer getaway a great one. Now it’s time to pinpoint those additional costs that will fund your travels. Insurance, camping and storage fees, and gas are all things to consider when creating a budget for your trip, which can directly affect the repayment terms on a recreational vehicle loan that you feel comfortable with. 

Choose Your Repayment Terms

Recreational vehicle loans at Discovery FCU include up to 100% financing and come with terms that are up to 180 months. After picking out the RV that you are ready to purchase and narrowing down additional costs to include in your travel, you can easily choose a repayment option that fits your budget. Check out our competitive rates for RV loans today. 

It’s not too late to start planning your 2020 dream vacation and purchase a new or used RV. Learn more about recreational vehicle loans with Discovery FCU and lock in your next adventure today! 

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