Helena RV has long term relationship with our lenders, we work with our lenders to bring you the most competitive and flexible financing options around. Our Finance Manager is committed to go the extra mile in helping you get the monthly payment and a loan term that best suits your budget. In most cases we can have an answer for you that same day. At Helena RV we strive everyday to turn your RV dreams into reality. Loan terms for both new and used RVs range from 60 months to 20 years depending on the amount financed. Our Finance Manager specialize in obtaining the best financing available, with some loans requiring as little as -0- down. For budget-conscious families, these attractive terms make RV ownership economical. Financing saves you money. Not only are interest rates more affordable today, but financing an RV allows you to further invest your money with the possibility to obtain returns greater than the cost of financing offering you economic flexibility. And because RV loans are generally offered for longer periods, yielding lower monthly payments, financing could allow you to choose a larger RV than you might otherwise have purchased. RV loans are simple interest with no pre-payment penalties, giving you the option of paying off your RV at any time. There are also Tax advantages to financing your RV. For the vast majority of RV owners, the interest on your loan is deductible as second home mortgage interest. The Internal Revenue Service (IRS) publishes two booklets with helpful information regarding the tax destructibility of RV loan interest. "Publication 936-Home Interest Deduction" and "Publication 523-Selling Your Home" are available by calling the IRS at 1-800-829-3676 More information is also available online at www.IRS.gov. Please consult your tax advisor to find out if this deduction is available to you.
Protecting your investment is equally important, we proudly offer Phoenix American Service Contracts. Rates are available for either Time of Sale (TOS) or In-Service Date (ISD). TOS means the new vehicle contract term begins on the contract purchase date. For more information click on the logo below, or contact one of our Finance Managers.
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.
Downpayments 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.
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.
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!