Frequently Asked Questions About RV & ATV Loans

RV and ATV financing are financial services that allow individuals to purchase recreational vehicles or all-terrain vehicles through installment payments, rather than paying the full amount upfront.

RV financing typically covers motorhomes, travel trailers, camper vans, fifth-wheel trailers, and other types of recreational vehicles designed for travel and leisure. ATV financing covers all-terrain vehicles used for off-road adventures.

Eligibility criteria may vary among lenders, but common factors include credit score, income stability, debt-to-income ratio, and down payment amount.

While having a good credit score can improve your chances of approval and secure favorable terms, some lenders offer financing options for individuals with less-than-perfect credit. However, lower credit scores may result in higher interest rates.

While starting off your credit career can be difficult, we are able to secure approvals for first-time buyers through working with our lenders on a case by case basis to find the best way to help establish your credit.

Yes, we actually specialize in assisting clients who are going through a bankruptcy or consumer proposal. Along with our lenders, we have programs in place to not only get you into a reliable RV or Trailer but also help to rebuild credit and get you into a more financially stable position.

Required documents include proof of income (such as pay stubs or tax returns), identification (a valid government driver’s license), and a void cheque.

Down payment requirements vary depending on the lender and the cost of the vehicle. Generally, a down payment of 10-20% of the purchase price is common, but some lenders may offer financing with lower down payment options.

Repayment terms typically range from 3 to 20 years, depending on the lender and the amount financed. Longer loan terms may result in lower monthly payments but could also lead to higher overall interest costs.

Yes, many lenders offer financing options for both new and used recreational vehicles and all-terrain vehicles. However, interest rates and terms may vary based on the age and condition of the vehicle.

You can! We offer several financing programs to help you not only get into a RV or Trailer but also get a head start on the next chapter of your life!

Yes, additional fees such as loan origination fees, processing fees, and documentation fees may apply. It’s essential to review the loan agreement carefully and understand all associated costs before signing.

Yes, refinancing options may be available to help you secure better terms, lower interest rates, or adjust your monthly payments. However, eligibility for refinancing depends on factors such as creditworthiness and the current value of the vehicle.

If you’re unable to make your loan payments, it’s crucial to contact your lender as soon as possible to discuss potential solutions. Depending on the circumstances, options may include loan restructuring, deferment, or refinancing. Defaulting on your loan can have serious consequences, including repossession of the vehicle and damage to your credit score.