| There is nothing wrong with financing your travel trailer | | | | "upside-down" in your camper. That way, if you ever |
| or fifth wheel. Actually, it might be a smart move to | | | | go to trade it in our sell it, you should be in a positive |
| finance your camper. You are probably asking "Why | | | | equity position and not have to come out of pocket |
| would it be smart to have another bill?". Campers that | | | | with any money to get rid of it. |
| are considered self-contained can be considered a | | | | When it comes to GAP insurance, if you are buying a |
| second home. That means that you can write off the | | | | new camper without a trade-in, you shouldn't need this |
| interest paid on your taxes. Now, most RV finance | | | | type of insurance. The only time that you will need |
| companies don't automatically send out interest | | | | GAP insurance is if you are trading in a camper |
| statements at the end of each year so you will | | | | towards the purchase of another camper and you |
| probably have to call and request a statement. So | | | | owe more money on your trade in that what it is |
| basically, in the end, you are borrowing money and it's | | | | valued. If you are trading in a camper and you have to |
| not costing you any finance charges. | | | | carry extra money on the new camper to be able to |
| Another recommendation is that if you are financing, | | | | trade in your old camper, you will want to get GAP |
| make sure to pay your sales taxes and any warranty | | | | insurance. GAP insurance protects you in the event |
| or insurance costs out of your pocket and ONLY | | | | that your camper gets totaled and you owe more |
| finance the actual cost of the camper. If you buy your | | | | money on it that what it is worth according to NADA |
| camper at a good price and you heed this word of | | | | guidelines. This insurance picks up the difference so |
| advice, you will not have to worry about becoming | | | | that you don't have to pay out of pocket. |