Your Complete Guide to Buying an RV or ATV

Last week we talked about the benefits of owning an RV or Campervan and the adventures that await you and your family. If you are seriously considering purchasing your first RV/ATV, there are some things you need to consider before buying. We’ve put together a guide to assist you in making the best purchasing decision for your families needs and expectations…

Determine your RV class and ATV type

When choosing an RV, you’ll need to decide between the three RV classes:

• Class A RVs are the largest and most comfortable, like a house on wheels. Put your feet up on the luxury couch, take a trip with a group of 10 and whip up gourmet cuisine in the full-size kitchen. Price tags range from $60K to over a million.
• Class B motorhomes are more modest. You’ll still have the kitchen and bathroom, but think postage-stamp size as opposed to full-sized. At most, you can sleep three people in a Class B RV. Expect to pay $50,000 to $100,000.
• Class C RVs aim for that sweet spot between the luxurious Class A and the no-frills Class B motorhomes. Amenities are more enhanced than those of a Class B, but nowhere near as robust as in a Class A. Prices range from $60,000 to $200,000.

If you’re looking to purchase an ATV, you’ll first need to choose between two main categories: utility and sport. Utility ATVs are designed to work and have larger tires, are generally easier to ride and have fewer bells and whistles than sport ATVs. Sport ATVs are built with recreation in mind. Prices for each can run from just a few thousand dollars to $65,000 for a fully loaded vehicle.

When choosing an ATV, it’s also important to consider factors such as weight, power, durability and speed.

Choose between new and used vehicles

New RVs will cost a pretty penny, but there are several distinct benefits to going this route. You’ll likely have an easier time securing financing for a new RV, the option of buying an extended warranty for your vehicle and a broader range of options to choose from.

Purchasing a used RV can save you thousands of dollars but you may have a harder time with financing, be forced to pay a higher interest rate on the loan and have limited options to choose from.

Similarly, purchasing a used ATV can potentially save you hundreds, or even thousands, of dollars but will leave you with more limited options and more hurdles to jump through before you can qualify for a loan.

Secure financing

If you’re looking for a loan to help cover the cost of your dream vehicle, look no further than Abilene Teachers FCU! Your RV or ATV loan comes with a favorable interest rate, easy eligibility requirements and the excellent service you’ve come to expect from our team. Call, click or stop by Abilene Teachers FCU today to get started.