Finance Your RV
Online Financing Application
At Starr's Trailer Sales, we want to make financing a new or used RV as easy possible.
Using our secure online financing application button below, you can apply for RV financing from your home.
Save Money on Owning Your RV
Owning your RV makes sense economically. You will spend significantly less when you buy an RV over renting one even on a limited budget. You should approach buying an RV like you would approach buying a home as opposed to an automobile. Interest rates will remain low and a variety of banks and financial services will offer several options to finance your purchase. Talk to our experts at Starr’s Trailer Sales to find the financing option that’s best for you!
Why Finance Your RV?
When you finance your purchase instead of liquidating assets or paying cash, you maintain your personal financial flexibility. Plus, your RV may qualify for some of the same tax benefits as a second home 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 a 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.
Advantages of Financing
- 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.
- Finance terms are longer / Monthly payments are lower - Because RV finance specialists know that RVs maintain their value and resale appeal, they tend to offer more attractive terms. In fact, it's not uncommon to find 15-20 year repayment schedules to help you afford the RV of your dreams.
- Borrowing against an owned home is not an option unless the money is used directly for that home.
- Home mortgage interest deduction is restricted to interest paid on mortgage debt used to purchase or improve a residence, or to refinance the remaining balance on a purchase or improvement. The purchase of an RV, therefore, does not qualify for this deduction.
- Home equity loans limit the amount of interest that is deductible, if your RV loan balance exceeds $100,000. Home mortgage interest deduction is limited to interest paid on home equity loans up to $100,000.
Information provided by GoRVing.com
Contact us to further discuss your financing options. Call us at 814-265-0632 or use our online form and a specialist will contact you shortly.