Financing a Camper: Questions to Ask Before Making a Purchase

Buying a camper is no walk in the camp. You need to do your due diligence before making a purchase. If you don’t, you may end up paying more than you ordinarily should, or worse, end up with a vehicle that doesn’t meet your specifications.

As a first-timer, learning how to finance a camper is always the first step. It would do no good to fixate on a particular motorhome model only to realize that your lender cannot approve your loan request.

To ensure that you avoid any common mistakes, here are seven questions you should ask before buying a motorhome.

·       How can I get financing?

Most buyers usually take on some form of financing to enable them to purchase a camper. You can get an RV loan from the bank, credit unions, dealerships, or online. Learning about these different forms of financing can help you decide what best suits you.

·       What is the actual value of the camper?

Another way to avoid paying more for an RV is by checking the actual value of the vehicle. There are many price checkers available. NADA Guides is an excellent example of a site that provides such a service to confirm the dealership’s price with current market rates.

·       What additional fees not included?

A common marketing strategy many dealerships implement is putting low prices on the ticket to attract customers. When you’ve committed to buying the rig, you’d then be sidelined by astronomical purchase fees that were not initially included.

If you’re working with a budget, I am always essential to ask for these additional fees upfront. That way, you won’t fall victim to this ploy.

·       What extra features does the camper have?

Do a preliminary inspection of the camper to see if the fittings meet your specifications. Many modern motorhomes come with more advanced capabilities, so ask the dealer for any added features the vehicle might come with.

·       What is your financing policy?

To finance a camper, you need to be familiar with the options available to you. If your lender of choice is a dealership, it’s best to ask this question early enough. This way, you can get information on the minimum credit score needed to qualify for a loan, as well as the loan terms and interest rates.

·       What is the camper’s history?

Buying a pre-owned camper is both a brilliant and risky idea. Although you get to save some money, you may also end up inheriting some faults and repairs from the previous owner.

Ask the seller about the camper’s maintenance history and the relevant documentation that contains information on all repairs done and the accident the past owner may have been involved in.

·       Can I take it for a test drive?

Just as you would when buying a car, you need to take your RV for a test drive to get a feel for how she moves. While driving, pay attention to the vehicle and look out for any sounds that may indicate that something is broken or loose.

If you have no experience driving an RV, you can always ask to accompany an experienced driver.

Final word

Before you finance a camper, it is necessary to cover all your bases. Ask the critical question to ensure you get your money’s worth.

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