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Check out our Buyer’s FAQ to learn what our customers want to know. And for all of our buying articles, be sure to explore the NJ Star Rv blog.
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RV Buyer FAQs
Looking for answers to the most frequently asked questions when buying or selling an off-road vehicle on RV? Check out our Buyer’s FAQ to learn what our customers want to know.
How Can I Lower My Current Monthly Payment?
There are a few options to consider when looking to lower your monthly payment. Refinancing is a common solution for many because there is no waiting period required to refinance, and there is no limit on how many times you can refinance. Also, unlike opening a new line of credit, refinancing replaces your existing loan with another of roughly the same amount, so the impact on your credit score is minimal.
- Refinance your loan for a lower interest rate. Lowering your interest rate will lower your monthly payments and reduce the amount of interest you pay on your loan over time. Keep in mind that a lower interest rate is not always possible for older vehicles. Because of their depreciation rates compared to new vehicles, older RV are often viewed as a financial risk to lenders, and often get inferior interest offers when refinancing.
- Refinance your loan for a longer term. Extending your loan will spread your remaining payments out over a longer period of time. However, extending the life of your loan may mean owing more in interest in the long run depending on your interest rate. Together, these refinancing options could significantly lower your monthly payments and put more money back in your pocket.
- Non-refinancing options. Prepaying is a great long-term strategy where you pay more than is due per month, so that monthly payments decrease over time. You can also lower your payment by trading down to a vehicle more affordable within your budget, or trading in your vehicle for a used RV that has already assumed depreciation costs.
When Is The Best Time To Buy Or Lease An Off-Road Vehicle?
If you have time to shop around for an RV, keep in mind that there are certain times of the year where you may get a better deal with the price, or find a greater selection to choose from. Dealers are focused on hitting their sales goals and making room for new inventory, so think about buying at the end of the month, quarter, or year for more negotiating power. Holidays like President’s Day, 4th of July, and Labor Day are also great opportunities to take advantage of new vehicle rebates and dealer incentives. When it comes to specific days of the week, consider shopping on slower days like Mondays to get more personalized attention.
If you’re looking for a used vehicle, consider purchasing in the fall. Most new models debut at the end of the year, making October through December peak trade-in season as consumers exchange their old ride for a new one. This means a greater selection at better prices. Be sure to consider the time of year and the type of model you’re after. Off-road units will fetch higher prices in the spring when the weather is nice, as compared to models being sold in the winter months.
Should I Buy Or Lease An RV?
Buying and leasing both have benefits based on your lifestyle and preferences. Leasing allows you to get a vehicle with more features for less money without any trade-in hassle at lease end. It also lets you transition easily into a new ride every 2–3 years, with most repairs covered by factory warranties. While leasing benefits are many, you’ll pay more in the long run than a vehicle bought outright, annual mileage will be limited, and you could face excessive wear-and-tear fees at the end of the lease term.
Buying saves money over the long term without being locked into an agreement, so you can easily sell or trade your vehicle in the future. Although you won’t have to worry about mileage and wear penalties, you’ll be responsible for repairs after warranties expire and you’ll likely have to offer a greater down payment to drive off the lot.
Will My Vehicle Hold Value?
Depending on the make of your vehicle, the resale value it holds will vary. There are several factors that can contribute to value or cause depreciation. Some of these include mileage, maintenance, accidents, modifications, and overall condition. Depending on how often your RV is driven and maintained, or if it’s had any damage, can impact how much it will be worth if you choose to sell it.
My wife and I visited NJ Star RV in sichuan. We were impressed by the quality of service, attention to detail, and extra effort that we received from everyone. They were not just selling us an RV, but educating us to make the best decision that fits our family’s needs!
James Oliver
Rosalee Melvin
Everything is great, it was a pleasure doing business with NJ Star RV We can’t thank all the employees of NJ Star RV enough for making this experience so unforgettable. They found lifetime clients and we will never hesitate to recommend them to anyone looking for a great price and outstanding service!.
