Tuesday, March 2, 2010

Are RV owners good with their money?

I think there is a perception that RV owners are poor with their money. The thinking goes something like this : Hey these guys are buying boats, cars, RV, and all sorts of fancy items so they must be up to their eyeballs in debt.

But if you read a tidbit of the RVIA business outlook web page, you'll find that just isn't true. Here is a snippet from the RVIA web page :

"The credit worthiness of RV consumers remains at the top of all credit seekers.  The delinquency rate on RV loans was 0.95% from 1999-2007 vs. 2.0% for other consumer loans, according to the American Bankers Association Quarterly Delinquency Bulletin.  Current limitations on RV credit are expected to gradually diminish over time since RV owners are, on average, excellent credit risks."

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