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Friday, October 27, 2006

The Basics of a Recreational Vehicle Loan

Applying for a Recreational Vehicle Loan: Important Things to Know

There are several important things to know when considering applying for a recreational vehicle loan. Getting a loan for anything is truly a big deal, and therefore you should make sure to be informed and aware of everything before jumping into something where you have no idea what you’re doing. KOA RV Loan Center is a good place to start when you are beginning the recreational vehicle loan process, as they have made it easier than ever for customers to get a recreational vehicle loan. Regardless of whether you are planning to purchase a new or used RV, or even refinance your current and existing loan, they have low interest rates and instant hassle-free loan approval offers that claim to help to get you where you want to go, and quickly at that.

The best way to apply with KOA RV Loan Center for your recreational vehicle loan is to do so online, where you can get an instant credit decision within 90 seconds for loans up to $150,000. Of course if the loan you are applying for is larger in amount than $150,000 you can still apply online, but because the process will be more complex, it will then obviously take more time for them to return a response, and can take anywhere up to one full business day. The interest rate that you will receive will vary, depending on many factors. These factors will include such things as the actual requested amount of the loan, the amount of your down payment, as well as your credit history and the age and value of the RV you are interested in. As for the basic expected down payment, 20% of the price of the RV is the typical asking price. However, you should know that you can possibly qualify for certain special programs that allow you to have no minimum down requirements.

KOA RV Loan Center also offers loans to corporations, but they only allow this when the RV itself is actually for personal use. This means that they do not finance RVs that will be used for commercial or any other purposes. Overall, KOA RV Loan Center is a highly qualified, highly recommended financing company, where as long as you have a decent credit history can basically walk away with a loan for any RV you wish.

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