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Common Myths Associated With Recreational Financing

S.F. Taxi Drivers Receive Letters Demanding Full Payment for Medallion Loans

Every consumer has different ideas of the process involved in financing recreational product purchases. Some may think that it is all based on their credit score and if they have current loans or not. Others may assume that its easier than getting a car loan. Potential RV buyers must learn the basic facts before they consider their financing options.

The Last Word On Rv Financing

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. Youll be on the road enjoying your new RV before you know it!

What Are The Advantages Of Financing Through A Rv Lending Specialist

Down payments 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, its not uncommon to find 15-20 year repayment schedules to help you afford the RV of your dreams.

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Meet Our Financing Department

  • Chris CoveyFinance Manager

Been looking at RVs for sale in California, but worried that you won’t be able to get RV financing? Just talk to the professionals at Manteca Trailer & Motorhome first! We have flexible financing for travel trailer, fifth wheel, pop up camper, or toy hauler of your dreams. Apply for credit today to see if that beautiful motorhome just might be in your reach!

Manteca Trailer is not a lender but may assist in the approval of the loan. All payments are plus applicable tax and license. All loans are subject to a banks final approval and funding of the loan.

How Does Rv Financing Work For Buyers

Everything You Need to Know About RV Dealer Financing

Finding a quality lending partner to provide your customers with affordable payment options is a critical decision for your dealership. Similarly, when your customers decide to invest in an RV, they need to consider their options for financing their purchase. Every person is unique with their financial history, and there are many different factors involved in financing an RV. Lets take a look at how RV financing works for buyers so that you are better able to assist your customers in making smart financial decisions.

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Rv Financing For Dealerships

The goal of recreational dealerships is to sell as much inventory as possible to turn a profit. Medallion Bank offers RV financing for dealerships so you can focus on what you do best, which is selling recreational vehicles. We finance RVs, motorhomes, truck campers, boats, horse trailers, and powersports.

As the nations leading non-prime recreation lender, we have proven our stability and reliability for dealers for close to 20 years. This level of knowledge and expertise ensures dealerships have the best rates and terms possible from a bank specializing in this specific lending area.

Medallion Bank specializes in helping recreation dealerships finance customers with past credit challenges, including bankruptcy and other credit issues. Our loan officers consider the merits of each deal, not just the score, to give you the highest approval rate possible. With this as a priority, we create the ability for the dealership to sell recreation products to those who have experienced credit challenges previously. Access to this demographic allows the dealership to increase annual revenue potential, while also allowing customers to make payments and improve their credit score for future purchases.

Financing Programs

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Benefits Of Subprime Recreation Lending

Many recreation lenders will avoid doing business with customers who have subprime credit. This obviously limits the effectiveness of traditional RV dealer financing options. These lenders arent willing to take the risk of RV buyers potentially defaulting on their payments.

We recognize that not all people who need loans will have perfect credit scores. Our approval process is fast and easy, making it easier for you to sell more recreational vehicles and increase your revenue. When you work with Medallion Bank, you avoid the risk of customers not paying, which will allow you to focus on selling more products.

Instead of only being able to sell products to prime customers, you can expand your target audience to people that have had credit challenges in the past. In addition to more customers, our online system is a convenient and easy way to submit and manage applications, clear stipulations, and generate pre-filled PDF loan documents/contracts for approved applications.

Myth #: There Are No Options For Bad Credit Borrowers

RV Loans – The Inside Story YOU need to know…

Although the credit score is an important component, the borrowers financial profile is only one factor that lenders consider. They also look at the individuals salary, length of employment, the recreational vehicles age, and additional collateral, if any. Recreational product financing providers realize that many people have bad credit low credit scores may be due to student loans, credit card debts, or unforeseeable circumstances. As a result, many providers provide lenient options for bad credit borrowers.

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Boat Yacht & Rv Insurance

Stay covered, wherever the road or water takes you. M& T Insurance and Travelers offer boat and yacht insurance as well as RV Insurance to make sure your boat, RV and everyone in it is properly protected. Travelers offers flexible coverage and discounts like multi-policy discounts, boat equipment credits and more.

to learn more about Travelers Insurance or call 1-844-773-8467 to get a quote.

Insurance Products are NOT Deposits NOT FDIC Insured NOT insured by nor an obligation of Any Federal Government Agency NOT Guaranteed or Underwritten by the Bank Not a Condition to the Provision or Terms of any Banking Service or Activity.

M& T Insurance Agency, Inc. may be paid commissions or other compensation for services provided in connection with this offer of insurance. Insurance products are offered by M& T Insurance Agency, Inc., not by M& T Bank. Insurance policies are obligations of the insurers that issue the policies. M& T Insurance Agency, Inc. is a subsidiary of M& T Bank.

Understanding Rv Dealer Financing

Before you can sell recreational vehicles, youll need a lending partner to provide your customers with affordable payment options. When recreation lenders are preparing to provide a loan, they look up your customers credit history. The most commonly used credit scoring models have a range of 300 to 850, but every recreation lender has its own set of standards for what qualifies as a good score.

With that understanding, here are broad definitions of credit score ranges when it comes to RV dealer financing and consumer finance in general:

  • 300-550: Deep subprime
  • 551-660: Subprime
  • 781-850: Super prime

Now keep in mind that these ranges are not set in stone. Every person is unique with their financial history, and Medallion Bank always takes a variety of factors into consideration before lending.

Looking up a credit score is only the first step to determine if your customers qualify for a recreation loan. The score simply represents your customers reported credit history, which is an indicator of the likelihood that theyll repay their recreation loan. However, a person could theoretically be deep in debt but have a great credit score if they pay all their bills on time. Thats when income and other debts may factor into some recreation lending decisions .

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Myth #: Approval For Recreational Vehicle Loans Is The Same As For A Car Loan

Some people think that a recreational loan is the same as a car loan. The reality is that getting approved for a recreational loan is more difficult due to the increased risks of late payments when the customer gets into a financial bind. When customers are having financial problems, they may fall behind on their RV loan payments the luxury purchase while continuing to pay off their car or mortgage loans.

Recreational Vehicle Financing Programs

Everything You Need to Know About RV Dealer Financing

Sometimes we just need a break a break from school, or work, or neighbors, or even just our daily routines. Trying new things and going on adventures helps us reconnect with ourselves and our families, recharging our mental batteries for a while. Recreational activities provide a popular outlet for people to divert their attention from their demanding lives.

We love and support the idea of breaking out of the norm to embrace new experiences! And we know that recreational activities are a great way to make that happen. In order to encourage these great activities, we specialize in helping recreation product dealerships finance customers with good credit and past credit challenges alike. This article will outline how we help dealers with our recreational vehicle financing programs.

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Auto Loan Ontario Is The One Stop Auto Loan Company With Solutions For All Credit Situations

Once you complete ouronline credit application, you’ll get personal attention from our Ontario financial experts so that they can understand your individual personal situation and work hard to get you the lowest interest rate available and ensure that you can have a comfortable and affordable monthly payment for the vehicle you want!Let Auto Loan Ontario, the automotive financing experts easily walk you through the vehicle loan process and all the options available to you for your next automobile purchase so that you make an informed educated decision. We know how to get you the most money and the best interest rates. We’ve helped people with:

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Myth #: A Down Payment Is Not Necessary

Not making a down payment is only recommended if you want to spend extra money on interest . A down payment is an ideal option for borrowers to save money by reducing the total cost of the loan repayments, which includes the monthly principal amount and interest. For more affordable payment terms, every borrower should have a down payment equal to typically 10-20% of the RVs purchase price.

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Myth #: The Purchase Price Is Nonnegotiable

For any new or used vehicle that exists, the borrower can negotiate the purchase price. Some of the best negotiating opportunities may be if hidden damage is found on the vehicle or if the RVs price and value are incorrectly stated. However, your negotiated price must be an industry standard that is supported by research at other dealerships, private sales listings, or current automotive/RV guides.

The recreational product industry will always be a world of great opportunities for people looking to buy an RV. Securing a loan is the less fun part that means researching interest rates, understanding payment terms, and reviewing the myths associated with recreational product loans. Recreational dealerships should help their customers select the perfect RV and remind them of their financing options.

If you are interested in offering financing to your customers, please contact Medallion Bank. We specialize in helping recreation dealerships finance customers with past credit challenges, including bankruptcy and other credit issues.

Rock Solid Funding Gets You Approved

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We are a veteran-owned and operated professional financial services provider. We specialize in trailer financing and other recreational equipment loans. We offer a safe and efficient finance process with tailored items to dealers and retail customers. We are located in Colleyville, Texas, and finance customers in all 50 states. Whether youve picked out that perfect trailer at your local dealer or youve found the one from a private party on Craigslist, eBay, or anywhere else, we can help.

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How Does Rv Financing Compare With Other Payment Options

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.

Why Finance Your Rv

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 adviser, but basically to qualify for these benefits, such as the de-ductibility 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.

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Weve Rocked The Industry

You could say we have Rocked the Industry. We are based in Colleyville, Texas and now serve most states.We are dedicated to serving all manufacturers, dealers, and customers. Large or small, we do it all with a safe and simple virtual process. We are a Registered Creditor, member of the North American Trailer Dealer Association , and the BBB.

What We Offer

Medallion Bank

This is what separates us from others and has contributed to our success in achieving a well above average approval ratio.


Rates from 5% 17.99% depending on credit.


The length of our terms range from 36 to 240 months, no pre-payment penalty.


Some of our customers have an approval from us in as little as an hour! Apply now and well get right to work.


Need cash for your business? Of course you do! We can help with that too.


Financing as low as $1,500 with no max. Low Down Payments may be available.


We can work with challenged credit scores as low as 550.

Have Questions?

Speak with an experienced professional about your financing needs. At Rock Solid Funding, we strive to answer our phones with a live person. No phone menus with us-its just how we roll.

We fund most types of recreational vehicles including travel trailers, enclosed trailers, RVs, boats, and more!




Thanks for the great service and taking the time to walk me through the financing. I would not hesitate to use Rock Solid again. We picked up the trailer today and its great.


Looking To finance A Trailer For Your Business?

Great! We have the perfect solution for you a commercial equipment financing agreement.

Why bother opening a new line of credit on your personal profile and risk lowering your credit score when you can simply open a line for your business?

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