Tips for Buying Your Summer Recreation Vehicle
The summer months are finally upon us, and with this warmer weather often comes the desire to buy a fun recreation vehicle. Who wouldn’t want to feel the wind in their hair while cruising around in a boat, motorcycle or jet ski? Or maybe check out all the United States has to offer while road-tripping cross-country in your own RV?
Summer recreation vehicle
sales have been on the rise, and statistics from the Recreation Vehicle Industry Association and National Marine Manufacturers Association suggest that they’ll continue to climb in 2015. And with some of the lowest gas prices we’ve seen in years, buyers are feeling more confident about investing in their dream vehicle.
But before you make an impulse buy or come to Point Breeze to apply for a loan
, there are a few things you should keep in mind. To help you out, we’ve put together a list of important tips for buying your first, or next, summer recreation vehicle:
Sure, it’s hot outside and you want to enjoy your vehicle during the summer months, but be sure this is the right time for you and your family to invest. Use tools like our loan calculators
to get an idea of what you can afford and what your payments would be. Do your research and plan some trips to local RV, boat, or other summer recreation vehicle shows so you can feel out your options.
Take the vehicle for a trial run
Purchasing a boat or RV is like buying a second home. In fact, you can often deduct the interest just like a second mortgage. When you think about it this way, buying a summer recreation vehicle is a big responsibility. Consider giving the RV or boat life a trial run before you make the investment. The purchase might sound great in theory, but a week out on water or on the open road might open your eyes to downfalls you weren’t aware of before. There are lots of hidden costs that come with buying a recreation vehicle, and you should educate yourself on these costs as best you can before buying.
Have the vehicle inspected
When buying a boat, have a professional test the watercraft’s capabilities and spot any underling maintenance issues. There are different marine surveys your insurance provider will likely require when buying a boat, and it’s a good idea to schedule these surveys for before you make the purchase. Similarly with an RV, invest in a professional inspection by a National RV Inspectors Association inspector. These inspections are additional costs, but in the end they’ll save you big on repairs and insurance costs.
Timing is everything
Know that there are different buying seasons for each type of vehicle. While the biggest savings on cars typically come towards the end of the year, buying season for summer recreational vehicles tends to actually be during January, February and March (coinciding with the boat and RV shows). You can find great deals at these shows, but more importantly you can compare show prices to dealer prices to ensure you get the most bang for your buck.
Ready to buy your next boat, motorcycle or RV? Contact a Point Breeze Credit Union loan specialist, at 410.682.6774, for more information about rates and financing options.