The RV industry was among the first to fall during the beginning of the economic hardship, but is also quickly proving to be the first to rise up from the ashes. RV manufacturers have responded to the down turn by rolling out their most innovative and sought after designs to date. RV lenders, in turn, are seeing the increased value and have loosened lending restrictions allowing consumers to once again obtain affordable financing for their RV dream.
Paul Evert's RV Country has made it a top priority to partner with banks and other lending institutions that continue to have a strong commitment to the RV consumer. "We've really seen a change from our lenders." says Joey Williams, F&I manager at Paul Evert's RV Country.
Robert W. Baird & Co., a wealth management and private equity firm, announced they "see a steady recovery in the RV market". We expect credit to flow better in 2011. At the margin, we expect loan approval rates to improve, amplifying industry growth."
"Park campgrounds are as busy as ever", says "Mac" Bryan, Vice President of the RV Industry Association, A fact that underscores the appeal to Americans of the RV lifestyle. According to the National Park Service, the number of RV campers at National Parks rose 6.8% from 2008 to 2009. “Recreational vehicles have a very bright future,” Bryan says.
While the RV economy is on the rise with banks lending more, and families wanting to take a vacation that does not leave them stuck in an airport, it is also, according to recent CNBC report, "tax-wise, if you buy an RV, the interest on your loan may be deductible."
Now's the time to take advantage of this perfect buying season!