Saturday, June 26, 2010

Compare Insurance and Financing Costs For New RV

Then of course there is for most of us the question of financing.  Once again the Internet is a good place to start.  I checked the rates at Bank of America where we had financed our first RV.  I also talked with my local bank.  Armed with that information I let the dealer see what they could do and wound up with a 5.99 per cent interest rate for 180 months.  This rate is very competitive.

Insurance is another matter to be considered.  As an example, we will be paying a little over $800 per year for insurance on our new Class C.  When you drive your brand new RV off the dealer’s lot it will substantially depreciate.  An accident could leave you financially upside down.  Having replacement insurance provides more protection.  When comparing rates be certain to check with companies that do a great deal of RV insurance.  The company that provides your homeowners and auto insurance may do very little insuring of RVs and therefore not have a product that really protects you.  GMAC and Progressive both do a lot of RV insurance and while I’ve had both of them, I currently use GMAC.

As we continue discussing the purchase of a new RV you can see that there are a lot of costs.  This all goes back to the first decision you need to make and that is whether an RV is a good use of your money.  Check out my web site and you will see some great pictures we have taken while on RV trips.  We wouldn't have seen these beautiful places without the RV.  

No comments:

Post a Comment