RV Financing in Port Coquitlam, BC

Why finance your RV?

Looking for flexible RV financing options? Meridian RV’s financing department in Coquitlam, BC, is here to help! We offer a variety of financing solutions to make your RV purchase as smooth and affordable as possible. Whether you’re buying a new or used RV, our team is dedicated to finding the best rates and terms to fit your budget.

At Meridian RV, we understand that financing an RV can be a daunting process. That’s why our experienced finance professionals are here to guide you every step of the way. We’ll work with you to explore all available options and tailor a financing plan that meets your needs. Our goal is to make your RV dreams a reality without the financial stress.

When you finance your purchase instead of liquidating assets or paying cash, you maintain your personal financial flexibility. Plus, your RV may qualify for some of the same tax benefits as a second home mortgage. Of course, check with your tax advisor, but basically, to qualify for these benefits, such as the deductibility of interest on the loan, the RV must be used as security for the loan along with providing basic living accommodations such as a sleeping area, bathroom, and cooking facilities. Remember, the RV is considered a qualified second residence as long as you designate it for each tax year.

What are the advantages of financing through an RV lending specialist?

Down payments are lower - Although final terms are determined based on your credit profile and the age, type and cost of the RV being purchased, financing through RV lenders usually requires down payments in the 10% range.

Finance terms are longer / monthly payments are lower - Because RV finance specialists know that RVs maintain their value and resale appeal, they tend to offer more attractive terms. In fact, it's not uncommon to find 15-20 year repayment schedules to help you afford the RV of your dreams.

How does RV financing compare with other payment options?

Borrowing against an owned home is not an option unless the money is used directly for that home. Home mortgage interest deduction is restricted to interest paid on mortgage debt used to purchase or improve a residence, or to refinance the remaining balance on a purchase or improvement. The purchase of an RV, therefore, does not qualify for this deduction. Home equity loans limit the amount of interest that is deductible if your RV loan balance exceeds $100,000. Home mortgage interest deduction is limited to interest paid on home equity loans up to $100,000.

The last word on RV financing

Your RV might actually cost you less in the end if you finance your purchase. By not tapping into your financial assets to purchase the RV, you can take advantage of attractive new investment opportunities that might come along and the earnings from those investments can potentially exceed the cost of your RV financing. The bottom line is that if you are thinking of buying an RV, you should check financing options to maximize your purchase enjoyment. You'll be on the road enjoying your new RV before you know it!

*Information provided by GoRVing.com

Please do not hesitate to contact Meridian RV if you have financing concerns. Our financing department is happy to answer any questions you may have!

Visit Meridian RV in Coquitlam, BC, to learn more about our RV financing options. Our friendly and knowledgeable staff are ready to assist you in securing the perfect financing plan for your new or used RV. Start your adventure with confidence, knowing you have the best financing support from Meridian RV’s financing department! Talk to Meridian RV of Port Coquitlam, British Columbia about financing your camper with Meridian RV and get out on the road today.