If you are in the market for a new or used RV, there has never been a better time to get a great RV financing rate. With the increase in online businesses and lenders it is now easier than ever to shop around for the best loan with the best rates.

Usually the larger lenders are able to offer better financing rates, but sometimes there are specialty lenders, such as lenders that cater specifically to RV buyers that will offer very a very competitive RV financing rate and also other advantages to the potential buyer. Some tout their low rates, others tout their quick loan servicing and a quick application process which puts money in your pocket more quickly, and still others offer no money down on your loan. But, how do you know which RV financing rate and loan package is right for you?

An experienced RV loan officer can guide you through the process of getting the best RV loan for you whether you are buying a fifth wheel or a motor coach. They will show you the advantages and disadvantages of both the variable and fixed RV financing rate so that you can make the choice for yourself. They should also tell you that if you want to get the lowest rate, it is important to put more money down. If you can put 20 percent of the purchase price down, you should able to get the best RV financing rate. Another factor to consider is the APR. This is the amount of interest you will actually pay on a yearly basis. The loan officer should be able to tell you how much you will actually spend on interest for the life of the loan.

One thing to consider when you are looking for an RV financing rate is the condition of the vehicle you are considering buying. If it is a used RV it will most likely get a higher financing rate than a brand new model and this will not only effect your monthly payment but also your total loan cost over time. You will have to weigh whether it is better to buy new at a lower RV financing rate, but with a higher initial cost, or to buy used at a lower initial cost and a higher RV financing rate. The total cost in the end may not be that far different.

Shop around and choose carefully. There is a loan out there that will be a perfect fit for your needs.

Julie Jacobs writes articles about RVs, Loans, and Financing. If you want to know more about how to get a great RV Financing Rate visit drvfinancing.com.