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“RV Financing: A Vehicle for Growth” Promotes Potential of RV Lending

With the availability of RV financing continuing to be a major issue facing the industry, RVIA has produced “RV Financing: A Vehicle for Growth,” an informational DVD designed to help recruit banks, credit unions and financial institutions into the RV market.


RV Financing: A Vehicle for Growth” provides an informative and positive look at the RV market and explains why financial institutions should consider including RVs in their lending portfolio. It highlights industry demographics showing that RV ownership is at record levels with RVing popular among a wide range of age groups, from retirees to younger families.  The production also looks at how the Go RVing national advertising campaign is bringing new RV owners into the industry. 


The video also examines key findings on RV retail indirect and wholesale loans from RVIA’s Survey of Lenders’ Experiences.  This includes data from the American Banking Association showing the stability of RV loans, which historically have had lower delinquency rates compared to other types of consumer loans.


“The DVD presents a compelling argument why now is a great time for banks to be involved in RV financing,” said RVIA President Richard Coon.  “This will be an ideal tool for RV dealers to use when approaching local banks and credit unions about becoming involved in RV lending.”


RVIA is partnering with RVDA and state RV associations to distribute “RV Financing: A Vehicle for Growth” to dealers nationwide.  Additionally, RVIA will use the DVD in their efforts at the national level to educate banking and financial institutions about the RV industry.


The production of this DVD is RVIA’s latest effort to assist in the industry’s economic recovery.  The association was successful in having RV consumer and dealer floor plan loans added the Term-Asset Backed Loan Facility (TALF) and in including a tax-deduction on new motorhome purchases in the Economic Stimulus package passed by Congress earlier this month.


Those interested in receiving a copy of the DVD should contact RVIA's Bill Baker at bbaker@rvia.org or (703) 620-6003 ext. 331.

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