Have you been dreaming of a cross-country road trip? Perhaps a trip down Route 66 in an RV tops your bucket list. On the other hand, maybe you envision yourself sledding over a fresh layer of snow in a new snowmobile or cruising the open waters instead of the open road. Whether you prefer to travel by land or sea, credit union recreational vehicle loans make the journey smooth and easy.
We give members the opportunity to achieve their dreams for less. When it’s time to relax and unwind, we want you to have peace of mind. From start to finish, our lending team ensures your financing journey is a seamless experience. Here’s what else you can expect when applying for a Capital Credit Union recreational vehicle loan.
Competitive Rates
Credit unions generally offer more competitive interest rates on recreational vehicle loans than banks. A lower rate means more money saved since the principal balance accrues less interest. Even a small difference in interest rates can amount to huge cost savings over the life of the loan.
In addition to the extra savings, a lower interest rate typically makes your monthly payment more manageable and may help you pay off your loan more quickly. But credit union recreational vehicle loans don’t simply come with lower interest rates. They may also come with fewer fees.
When rate shopping, be sure to consider a loan’s annual percentage rate (APR). This percentage rate reflects the true cost of the loan since it factors in lender fees, such as loan origination fees, application fees, and other financing costs. Since these extra fees tend to add up fast, you should always inquire about a loan’s APR before signing on the dotted line.
Another key difference that sets credit unions apart is that credit unions are not-for-profit, while banks are for-profit financial institutions. This distinction is why credit unions are able to pass along savings to members in the form of lower interest rates and fees.
When rate shopping, be sure to request a copy of the loan estimate from each lender. This document outlines important details about your loan, including the APR. The more competitive your APR, the more money you’ll have to put toward your travel adventures.
Flexible Terms
With flexible terms, you can have the loan you want on your terms rather than your lender’s. Capital Credit Union, for instance, offers a range of flexible financing options that provide personalized solutions based on your individual situation.
For example, you may be approaching retirement soon and wish to enjoy your golden years debt-free. If you want to pay off your loan quickly, a shorter term may be the right fit for you. Our recreational vehicle loans start with terms of just 36 months, so it’s possible to pay off your loan in just a few short years.
On the other hand, you may prioritize a low and manageable monthly payment. By offering a variety of loan terms, including terms up to 84 months, we make it easy to find the loan that works best for your budget. Just keep in mind that you’ll spend more in interest with a longer term, so you’ll need to weigh your financial goals when evaluating which option makes the most sense for you.
Take a look at our current interest rates to get an idea of how much you’ll spend monthly per $1,000 borrowed. You should also check whether your lender charges a prepayment penalty should you decide to pay off your loan early.
At Capital Credit Union, we want you to pay off your loan on your terms. With five loan terms to choose from, we’re confident we have one that’s right for you.
Personalized Services
When you’re opening an account or applying for a loan with a large financial institution, it can sometimes feel like you’re lost in the crowd. Credit unions like ours get to know members on a personal level, so you don’t feel like you’re just a number. Instead, we’ll welcome you like an old friend each time you walk through the door and deliver the type of service money simply can’t buy.
Your loan services should fit your needs. At Capital Credit Union, for instance, you can apply for recreational vehicle loans by submitting an application online, scheduling a virtual appointment with a loan expert, or stopping by your nearest branch location to discuss your options in person. You can even text or call to get started.
When you’re looking to explore Wisconsin’s great outdoors but need a little help, credit union recreational vehicle loans can get you on the road—or water—and do it with first-class service.
Fast Approval Process
Credit unions require membership to receive a loan, but it’s easy to become a member. You typically just need to live, work, or attend school in a designated area. Sometimes family members of members can join or employees of certain businesses or industries.
At Capital Credit Union, you’re eligible for membership if you live, operate a business, work, or attend school in one of sixteen Northeast Wisconsin counties or have a relative who is a member. We also welcome employees of Goodwill of North Central Wisconsin. If you qualify for membership, you may even become a member while applying for a recreational vehicle loan. Simply have your Social Security number and driver’s license or ID card ready when you apply.
Then it’s full speed ahead! You’ll receive a quick approval decision once we receive your completed application.