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Recreation Loans: When should I get one?


Recreation Loans: When should I get one?

Recreation loans help countless people better enjoy their leisure time, when they have it. Recreation loans are designed to help you, and your family get the most of your time off (or your retirement), without “breaking the bank”, as it were. At NSCU we offer a wide variety of recreation loan terms to our members. So they can easily find the term, and rate that fits within their needs, and budget. If you would like to see our current loan terms, visit our recreation loan application page now. If you’re looking to learn more, and how to get the most out of your loan, keep reading.

recreation loans boat

When should I apply for a recreation loan?

You’ve seen the perfect RV or ATV on the dealer lot and you absolutely must have it. The first thing to find out is the cost, in many cases recreation items have an inflated sticker price. This is especially true for RV’s, where often a small amount of haggling can result in a price drop of as much as 35%. Once you know the price you will likely be paying, the next item you need to find out is how much of a down payment will be required. While most recreational items like boats, ATV’s, and campers often require a down payment of 10% to 20% of the purchase price, this is not always the case. So it is important you discuss down payment requirements with the dealer. Once you have this information, it’s easier to calculate the loan term that will best match your monthly budget constraints. Financial Calculators can quickly give you an idea of what terms and rates are within your budget.

Once you have this information, it is the best time to apply for a recreation loan. Going into the application process with this level of personal financial knowledge will allow you to be more confident and secure in your decision, and better able to enjoy your new purchase.

What types of purchases can I use recreation loans for?

We offer recreation loans for a huge variety of items, to help you and your family better enjoy every season. Our most common recreation loans are…

  • Boat loans
  • Camper Loans
  • RV Loans
  • ATV Loans
  • UTV Loans
  • Snowmobile Loans
  • Wave-runner Loans
  • Dirt Bike Loans

These are only a few of the most common recreation loan uses. We also offer recreation loans for machinery, large equipment, tractors, and more. If you are not sure your next purchase qualifies for a recreation loan, please contact us, it often will.

Whether you are looking to travel the country in comfort in a new RV, enjoy your days on the water with family, and friends in a new boat, or just enjoy life in general, recreation loans are available to help you achieve just that. If you have additional questions, or would like the assistance of one of our financial experts please contact us today.