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MSUFCU gives advice on how to buy a boat or RV this summer

Posted at 11:21 AM, May 13, 2022
and last updated 2022-05-13 11:21:20-04

Summer is right around the corner, and now is the time to get the best use of your RV or boat.

MSUFCU Chief Marketing Officer Deidre Davis is here today to discuss how to purchase an RV or boat with tips to make the decision easier.

When you buy an RV or a boat, you are making a significant purchase, so you need to make sure you do your research.

RVs come in all sizes and with hundreds of different features. Make a list of your needs and wants, and consider how many people you plan to travel with in your RV. Large families may need multiple beds and room to comfortably travel from destination to destination. If you plan on going for longer trips, sometimes everyone might need more personal space. Some campsites have different amenities so it is important to consider what entertainment and accommodations are must-haves for you.

If you’re looking for a boat, the big thing to consider is how you want to use it. Not every boat is allowed on every body of water, so think about what activities you want to do with it and research where you can go. Also, how many people do you plan to bring on the boat? Each boat has a certain weight and occupancy restrictions, so be mindful of the size you need.

Think about all of these options then begin to budget and shop around.

RVs and boats have a limited lifespan, so you need to consider that when shopping around. You can save quite a bit of money on a used vehicle, but it might not last you as long as you would like. It can also be challenging to find a used vehicle that has everything you want, so if there are features that are must-haves, you might not be able to find a used vehicle.

The advantage of a new vehicle is you can find the perfect one for you. With your list of features, you know exactly what you want and what you can afford. New vehicles come with warranties on the lifespan of their parts. You know that it works and is under warranty. All of this comes at a cost since you will need to pay full price for a new RV or boat.

Purchasing a vehicle does not take into account everything you need to pay for it. Fuel, maintenance, registration, insurance, and storage at the end of the season all add up over time. You may also need to purchase a trailer separately to tow your recreational vehicle.

If you plan to take your RV or boat to national, state, or local parks, you often need to pay for a pass. Before visiting any destination, look up the park or area fees – you may be able to purchase annual passes to help save you money.

Finally, it is important to think about warranties. Some are just for the original buyer, while others can be transferrable to future owners. When you are buying a used vehicle it is worth having an inspector take a look at the vehicle to make sure it is in good shape for the future.

Whether you are looking for a new or used RV or boat, MSUFCU offers low rates and flexible terms. They also offer no application fees and no down payment required.

In addition, we offer ReadyLoan checks for vehicle loans, which is a blank check-up to your preapproved loan amount that you can give to the dealership or seller when you’re ready to buy. MSUFCU’s ReadyLoan checks are good up to 90 days after loan approval, so you’ll have more time to shop around and feel comfortable about your buying decision — and lock in today’s low rate.

Learn more at msufcu.org.

Sponsored by MSU Federal Credit Union