GEMB RV Loans
UPDATE: All RV loans and boat loans are now approved by our partner – please click here to learn more or apply when ready. APR from 4-5% + depending on your credit situation.
Ever since we mentioned the GEMB RV loans we have been getting a lot of the email requesting a page for consumers to fill in an application online. We don’t have a link to an online application for an RV loan.
Some people want to know exactly what a GEMB RV loan is, so here is a brief answer for you;
GEMB stands for GE Money Bank and this is the personal financing division of GE. GE is one of the biggest companies on the planet and there is no surprise that they would get involved with personal financing someday. As more and more people are looking for solutions for loans, loan approval companies like GE are filling a necessary void in the lending institution market.
Their RV loan page and application form has been discontinued from time to time as they change their web site so we will try to bring you the latest link as soon as we possibly can. In addition consumers may be able to negotiate loans from the RV vender that you are purchasing the RV from. In order to enhance their sales, venders will renegotiate with banks and lenders like GEMB RV loans to make it easier for their customers to purchase an RV.
Anyone who has considered purchasing an RV knows that the sky is the limit in terms of what you can buy. So are the loans that are needed, but first lets look at the RV’s that are on the market and what they cost.
Small RV’s that are basically the size of a van with the roof raised up have all of the basic elements that you would need and find in a home, however everything is really cramped and if you are going to spend any time in one with your spouse, you better have a really good relationship. We have seen some priced as high as $110,000 in this category.
RV’s that are more like a home with pull outs on either side come in various lengths with some as long as 36 feet. These are luxurious RV’s and even have separate bedrooms, showers, kitchens, sitting areas etc etc. They are very luxurious and can cost upwards of $300,000 to more than half a million depending on what features you request.
RV’s like cars can be purchased both new and used. They tend to retain their value and many people after several years of use will then either sell their RV or trade it in on a new model. The amounts needed are still large. One RV we looked at was a 2006 model, 36 feet long and selling for $90,000. Most people do not have that kind of money laying around and will need to consider a RV loan to help them make their purchase.
Most people purchasing one of these monsters is going to need an RV loan to help them finance their dream. GEMB RV loans is one way to finance your purchase. Like any other loan, consumers must negotiate the interest rate, the term of the loan and the monthly payment. Consumers with excellent credit ratings will enjoy excellent terms for their RV loan, while consumers with bad credit may have to pay a little more in terms of the interest rate.
Your sales person can assist with the calculation of the monthly payment based on the loan details. This includes the amount that you negotiate for the overall sales price of your RV, the amount you can pay as a down payment, the interest rate on the loan, the term of the interest rate and the length of the amortization. Monthly payments can be minimized by lowering the interest rate and lengthening the total amortization of the loan. This is a major purchase for most people and customers will want to utilize the assistance of the sales people to find the best deal they can negotiate.