| RV FAQ's |
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What will my interest rate be?
Your rate will vary. It depends on many factors,
which include your loan amount, your down
payment, your credit profile and the age and
value of your RV. As soon as we process your
application, we will let you know your interest
rate and program options. |
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How long will it take to process
my application?
Complete our online
loan application and you may be
approved within minutes. |
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How much of a down payment do I
need?
The typical amount down is 20%. However, you
may qualify for special programs that have
no minimum down requirements. |
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What are the largest and smallest
RV loan amounts that you offer?
There is no maximum. If your needs are more
modest, we can finance loans in amounts as
small as $10,000. |
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How is interest on your loans calculated?
All our loans are simple interest loans. You
only pay interest on the principal owed. |
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Do you have an application fee?
No, Essex Credit Corporation does not charge
an application fee. |
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What types of RVs can I finance?
Class A, Class B and Class C Motorhomes, Travel
Trailers, 5th Wheels, Truck Campers
and Van Conversions.
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How do I apply?
JUST FILL OUT OUR SECURE ONLINE LOAN
APPLICATION or download our
.pdf application and then fax or
mail it to Essex Credit Corporation. Or call
us at 866-ESSEX-4-U (866-377-3948), and we
will take your application over the phone. |
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What is the oldest RV you will finance?
We can finance RVs manufactured as old as 10 current model years. |
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Do you require a minimum credit
score?
Yes. Your credit score must be 660 or higher.
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I am a foreign national. Can I get
financing through you?
Yes, as long as you reside and work in the
United States. |
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Do you offer repossessed RVs for
sale?
No. |
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What are the shortest and longest
terms available?
The shortest term is 5 years. The longest
is 20 years. |
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Do you finance loans for people
residing in all 50 states?
Yes. |
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Do you finance loans to corporations?
Yes, we do lend to corporations, but only
when the RV is for personal use. We do not
finance RVs that will be used for commercial
purposes. |
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Do you offer pre-approvals?
Yes, you may apply online
now and get an Instant Credit Decision. |
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Do you work with dealers/brokers?
Yes. We work with dealers/brokers across the
continental US. |
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Do you finance full-timers?
Yes. |
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Do you offer equity out programs?
Yes, you may receive cash out up to $50,000. |
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Do you require income verification
on all loans?
No. For well-qualified applicants, income
verification may be waived on loan amounts
up to $250,000. |
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If I bought my RV for cash and now
would like to obtain a loan, can you help
me?
Yes. Our Cash Recapture Program allows you
to get a loan within 6 months of your original
purchase. |
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Can I defer my first payment?
Yes, you may defer your first payment up to
90 days. |
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Will you allow me to place my RV
in a Limited Liability Corporation?
Yes. |
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Will you allow me to place my RV
in a trust?
Yes. |
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Can my payments be automatically
deducted from my bank account?
Yes. Just let your sales representative know
before the closing of your
loan. |
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