All buyers should bring:
Four main factors determine whether you get approved for a RV loan:
Tip: For the best chance of approval, and the lowest monthly payment possible, try to select a vehicle that fits your budget and provide as large of a down payment as you can.
On approval, three factors will affect your monthly payment (in order of importance)
We offer competitive rates from a variety of finance companies to fit nearly every budget and credit profile. You can learn more about your personal finance options at any Go RV Leduc dealership.
The rule of thumb from most financial institutions is to spend no more than 15% of your gross monthly income on your RV payment.
For example, if you make $2,000 a month you should spend no more than $300 on your RV payment. Monthly payments normally range from $20 - $25 per $1,000 financed.
Your credit score helps financial institutions predict the risk associated with your purchase of a RV, house, credit card, etc. Essentially, it's meant to forecast how (and if you will pay your bills.
The higher your credit score, the greater your chance of receiving a better financing offer from Go RV Leduc.
Your credit score is a number that ranges from about 350 to 850. In general, the higher the number, the lower the risk. The systems that generate your credit score look at your credit report and take several factors into account including:
Many Go RV Leduc customers qualify for financing on their first vehicle purchase.
If a normal credit determination cannot be made based on your current credit history, you may still qualify for other programs, like those for recent college graduates.
Stipulations for college students vary by finance company. Check with a finance professional at any of our Go RV Leduc dealerships for more information.