Loans for Big Ticket Motorhomes
Banks now have a loan product especially for the $2 million motor home. These loans are more like car loans than house loans in that the decisions are made sometimes within hours. And unlike houses, there is no appraisal or inspection before closing according to Paul Wible at San Francisco’s Bank of the West.
Typical paperwork for the RV loan usually includes pay stubs, tax returns, bank statements, confirmations of deposits and company balance sheets for small-business owners, Mr. Wible says.
Last year, RV retail loan volume topped $5.1 billion, according to the Recreation Vehicle Industry Association’s (RVIA) annual survey of the sector’s largest lenders. And delinquency rates were just 1.14%. Manufacturers shipped 356,735 units in 2014, 11.1% more than 2013 and the highest number since 2006, RVIA figures show. Evidently this growing popularity of RVs is backed by lenders.
RV credit availability and sales dried up during the recession, says Louie Courtemanche, owner/partner of Junction City, Ore.-based Premier RV, which is among the nation’s largest dealerships for preowned luxury coaches. Since 2012, lender enthusiasm for the sector and low interest rates have, in part, fueled 25% upticks annually in Premier’s sales, he adds.
For tips on buying a big ticket coach, check out this WSJ article.
Camping World Renovates Fairfield Dealership
Another Camping World SuperCenter opens this month in Fairfield, Ohio. A ribbon cutting ceremony was held last month with the Fairfield Chamber of Commerce. The Camping World was purchased this year from the former Tom Raper RV dealership.
The new Fairfield location at 5300 Dixie Highway joins more than 100 other Camping World SuperCenter locations across the U.S.
Fitness for You and Your RV
According to the Globe Gazette, RVing couple Adinaro and her husband James created the website thefitrv.com. The Salt Lake City, Utah, couple offer advice on fitness for RV users and advice to keep those motor homes and towables fit. “Our articles are relevant to the general RV population but are geared toward the population of 55 and older,” Adinaro said.
Adinaro handles most of the fitness tips and information while James focuses on information for the vehicle.
Ashton Kutcher’s and Mila Kunis RV Honeymoon
The newlyweds, who tied the knot over Fourth of July weekend, recently enjoyed a low-key honeymoon, taking an RV trip up the California coast with their 9-month-old daughter Wyatt. E! News has exclusive pics and details of the lovebirds’ family.
Camp in Downtown Chicago
In a blog post by Gone With the Wynns, they talk about the roadblock they hit when they searched for a campground near downtown Chicago, IL. After asking themselves the question “Where do all the band buses park?”, they found out how to camp in the heart of the city.
The results: There are two McCormick Place locations for overnight RV parking in Chicago:
o The 18th street lot is on the north side near Soldier Field and is the least used location for overnight parking. It’s nice because you’re all alone, but for some that may be too scary. We didn’t feel like we were in danger but I will say it was odd being the only one there in the middle of such a large city.
o The 31st street lot (also known as “lot B”) is on the south end of the Convention Center closer to the 31st Street Harbor. This is where the main office is and I’d say it’s a less desirable location for sleeping as there is consistent buzzing of trucks, trains and cars passing by. The good part about this lot is the security office is right there so it might help set those who worry at ease to know that people are there in the office 24/7.
Check out their blog post for more details about the their find.
Luxury Loving Baby Boomers drive RV Revival
Evelyn and Leo Carey’s story of beginning their RV life is reported by the Star Tribune. “We never dreamed of buying an RV when they were raising kids and fully ensconced in the working world.” According to the article and other sources, baby boomers and adventuresome seniors the biggest resurgence in RV sales since the early 1990s.
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