To use a used RV financing calculator, type the purchase price of the RV minus any down payment, the interest rate and the total time period of the loan in the appropriate fields, and then hit the calculate button, according to Camping World. The calculator provides your anticipated monthly payment. RV financing calculators are available at websites of financial institutions as well as general-purpose RV sites. Calculators for new and used RVs work the same way.
In order to qualify for an RV loan, it is necessary to fill out a personal financial statement, and good credit is required for the best interest rates, states Bankrate. Higher interest-rate loans are available to individuals with less than stellar credit. Financing is available through banks, independent financial companies and RV dealerships. Some companies specialize in RV loans.
The best time to shop for used RVs is at the end of summer and during the fall, maintains AARP. This is when many summer campers decide to sell their campers instead of storing them. If possible, talk to other RVers who have traveled in a make or model similar to the one you are considering before making your final purchase decision. Ask sellers about the full history of the RV and why they are selling.