Online RV Loans - Shopping for the Best Rates

How to shop online for RV and Motorhome loans at the best rates.

In 2024, the "ritual" of shopping for a new RV or Boat, and even recreational vehicle financing, has changed dramatically - especially within the last several years. Gone are the days of driving hundreds of miles, from dealership to dealership; always at the mercy of time and distance - and the pressure of the sales office.

Granted, the Internet has been in fairly common use since the mid-1990s, but after only 2 or 3 decades we have seen the majority of Recreational Vehicle buyers doing almost all of their most focused purchase-related research and shopping without driving a mile. They are doing their homework at home, (and at work), on the Internet - before stepping foot on a dealer's lot.

Now, the vast majority of RV, motorhome, and boat sales and financing now takes place ONLINE. This is where people begin their research, obtain loan pre-approval and financing, haggle, purchase, and take delivery (sometimes "sight-unseen", except for photos and documentation) of new and used units - from coast to coast!

RV Loan and Rate Shopping - "Back in the Day"

In the earlier days of the Internet, potential buyers had been slow to embrace major purchases, such as RVs and Boats - especially without seeing and inspecting the unit in person. But, smaller online transactions on websites like Amazon.com, eBay.com, and other increasingly popular web-shopping sites, have increased consumer confidence and slowly matured into much larger and more expensive online purchases.

With the introduction of eBay Motors in the early 2000's, people began buying and selling all types of motorized vehicles, but the sale and purchase numbers for RVs grew faster than anyone had anticipated. By 2004, the search term "RV" was in the top 10 search terms on the (relatively new at that time), search engine Google.

In the following years (and decades) more and more people began using the Internet to search for "Bargains", and the numbers of RV buyers and sellers have increased exponentially, year after year. Our experience and research has shown that internet RV sales and online recreational vehicle financing is now increasing even faster than expected.

RV Financing in 2024 and beyond... Fuhgeddaboudit.

Now, the vast majority of RV, motorhome, and boat financing and shopping takes place ONLINE. This is where people begin their research, obtain loan pre-approval and financing, haggle, purchase, and take delivery (sometimes "sight-unseen", except for photos and documentation) of new and used units - from coast to coast!

Today, the "new generation" of RV and Boat buyers span the entire spectrum of recreational-related demographics. Every age group from young families buying their first camper for occasional outings, to retired full-timers in super-luxury units, are joining the online recreational vehicle purchase revolution.

These buyers tend to do their initial research by driving to the dealerships in their comfortable driving area, usually a 50 to 500-mile radius, or by making periodic stops along their travels and adventures over time. By doing this type of initial shopping, they are able to see, feel and drive the types of units available. They can learn the pros and cons of the various styles, sizes and price levels by seeing these units in person at the dealerships they visit - hopefully leaving their checkbook and credit cards in their vehicle. (Lest they meet a salesman, and buy something.)

Once they have narrowed down their general types or units of interest, they can begin their online price shopping. They can slowly narrow down their search to a particular year, make and model, with specific options. From there on out, they simply call each dealer and/or private RV seller with a unit that matches their needs. Sooner or later, they find the right deal — at the right price. Distance seems to be no problem if they feel they are saving enough money, or finding the right unit.

Welcome to the Future of RV Loans and Shopping

At BestRate-Loans.com, we have seen our percentage of online, and/or out-of-state purchases grow to more than 50% of our RV financing customers. And, because they are normally unfamiliar with long-distance or private-party sales procedures, we provide them with an easy roadmap to a safe and successful transaction.

The new online RV and motorhome "Private Sellers" are wary of their exposure to unscrupulous or fraudulent buyers, so we help guide them through the complete transaction as well. Our RV pre-approval and loan processing, title research, and closing departments coordinate virtually all aspects of the RV purchase, finance and loan closing. A smooth transaction can be crucial to help guide the purchase and sale process from start to finish, with all parties satisfied with the outcome.

So, now you are able to easily find the best price and financing for just about any type of recreational vehicle. The thousands of dollars in savings normally cover more than the cost of driving or flying thousands of miles to take delivery of your new toy or home on wheels, or on water.

While most potential buyers' interest in saving money intensifies during the frenzy of shopping for a new boat or RV, they should remember those industry related businesses they may need after their purchase. Your local Dealer may be much more likely to go out of their way for "post-sale" related activities like service, troubleshooting, etc. if you purchased the unit from them. As you travel further and further from home, the savings in actual dollars become more and more important.

Save All the Money You Can - Or Everyone ELSE Will

The rapid rise in the use of the Internet for RV shopping has closed more RV dealerships than any other factor, even the extended economic recession. However, the fortunate dealers with deep enough pockets to survive the Great Recession, and those adaptable enough to survive the Internet, have evolved with the changing times.

Now that much of a dealership's income from unit sales has been reduced, they rely more sales at lower provits. You get a great deal, and tell your friends. Volume sales at lower profits is the new normal. Dealers have also learned to increase income produced by other areas of the dealership, such as the parts and service departments. They have added new avenues of income such as rental fleets, consignment sales and other products and services.

If you decide to take the Internet leap and save money by researching, shopping and buying online, remember to give your local dealers a chance at earning your business. If not the financing — be it for the sale, service, parts, or repairs; a little more money spent locally can go a long way in good relations over the long term.

And don't forget to remember that a "Great Deal" can be found just about anywhere if you look hard enough and smart enough. So start close to home, then go from there.

"For every buyer flying from New York to California to save a little money, there is another flying from California to New York to do the same thing."