So you've shopped around for an RV loan in Florida and you think you've found the one? As a lender for RVs and boats, we want to get you on the road or in the water as quickly as possible so you can start living out the dream. But we also want to make sure that you have no regrets about your relationship with us.
That's why we've put together this short list of things to consider when you first speak with a loan officer.
Make Sure the Lender Has Your Updated Details
For your lender to give you the most accurate picture of your future payments, you must ensure that the basis for this picture is accurate. Giving accurate and honest information will help save you time and money in the long run.
When you talk to a representative for RV loan and refinancing in Florida, there are some very basic questions that you should always ask. What is the interest rate? What are the loan terms? Is there a required minimum down payment? What are the penalties for missing a payment? Are there any other hidden fees?
You should never hesitate to ask any other question that you may have in mind.
Ask for a Numerical Breakdown or Sample Computation
It's hard to imagine the entirety of what you're paying until you see it on paper. You might think that $450 a month doesn't sound too bad until you add in all the other fees and down payment, and imagine how much you're spending over the next 20 years.
Think about the loan terms of number of years, and imagine what your RV will look like by the time you're done paying for it. If it's still in great condition in your mind, then, go for it. But if you're planning to pay for your RV over 15, 20, or more years, then you might want to consider a going for a shorter term, or maybe cutting back on some of the bells and whistles.
Trust Your Loan Officer
Lastly, once you're comfortable with all the terms and conditions, make sure you're comfortable with your loan officer as well. You're putting your heart and soul into your RV. Make sure you put them in the hands of someone you trust.