FREQUENTLY ASKED QUESTIONS
ABOUT RV LOANS
1. How do I apply for an RV loan?
2. Will my information be secure?
3. How long will it take to process my application?
4. How long is my approval good for?
5. What are your interest rates?
6. How much of a down payment is required?
7. How will we handle closing on my RV loan?
8. Can I be pre-approved?
9. Do you do refinancing of current RV loans?
10. Can I get cash out on my current RV loan?
Answer to FAQs
1. How do I apply for an RV loan?
Applications are available online. If this is not convenient you may call our office and we will be more than happy to mail or fax you an application. Return the application with your most recent two years complete tax returns, a pay stub and verification of liquid assets. Credit decisions typically take 48 hours.
2. Will my information be secure?
Absolutely, your personal information will remain completely confidential and secure while in transit over the Internet.
3. How long will it take to process my application?
Once we have all of your financial information it will take up to 48 hours to decision your application.
4. How long is my approval good for?
The typical approval is good for 30 days, however, if needed we can obtain an extension in most cases.
5. What are your interest rates?
We have many and varied rate programs here at Scott Financial Services. Your rate will be determined by several factors including: loan amount, down payment, type, age and value of vehicle and geographic area. We will always quote you the lowest rate possible. You can view our general rates on line or receive a customized quote by calling us at 800-556-0666.
6. How much of a down payment is required?
Most RV loans will require a twenty percent down payment. We do offer other programs requiring only a ten to fifteen percent down payment depending on how much you are financing.
7. How will we handle closing on my RV loan?
Settlements can be handled in several different ways to be tailored to your personal situation.
8. Can I be pre-approved?
Yes! We do ask that when you submit the application you write in a type of RV you are interested in, how much you expect to pay for it and what you will put down on the RV so that we can give the bank a general idea. Once you have found the perfect RV, simply fax a copy of the purchase agreement and we will get an approval to you with the updated information.
9. Do you do refinancing of current RV loans?
Yes we can refinance the current balance of an existing RV loan as long as it is above $25,000.00.
10. Can I get cash out on my current RV loan?
Unfortunately we do not have a source that will lend on the equity of your RV.
