RV Credit Direct, a division of Beacon Credit Services, meets the specialized needs of recreational vehicle enthusiasts by arranging competitively priced RV loans on a nationwide basis. The company began providing RV loan financing in 1998 and is recognized as a leader in the RV loan industry. The company’s success is due to the vast experience of its senior management team and its knowledgeable, friendly staff who strive to develop a personal rapport with potential clients.
On an annual basis, Beacon Credit Services originates in excess of $400 million of specialty consumer loans, including RV, motor home and travel trailers. The significant RV loan volume enables the company to negotiate the most competitive rates and terms in the consumer loan industry; these competitive programs are passed along to RV finance customers. Whether the borrower is financing the purchase of a new or used RV, refinancing an existing RV loan at a more competitive rate or recapturing the equity in a RV that is presently owned free and clear, one thing is for sure, RV Credit Direct will provide the most competitive loan rate available.
RV CREDIT DIRECT PROVIDES FINANCING FOR ALL TYPES OF RECREATIONAL VEHICLES:
- Class A Motorhomes
- Bus Conversions
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- Class B Motorohomes
- Class C Motorhomes
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- Travel Trailers
- Fifth Wheels
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FINANCING FOR THE FOLLOWING TYPE OF RV LOAN TRANSACTIONS:
- $20,000 minimum loan
- New or used dealer purchases
- Residents of all 50 states
- RV broker transactions
- Private party purchases
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- $1 million maximum
- RV equity take outs
- Terms to 20 years
- RV refinance loans
- Shell entities
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- Zero downpayment
- Fulltimers
- Older collateral
- Credit challenged borrowers
- No income verification
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The company assists borrowers throughout the entire process by providing lien searches on the RV being purchased and ascertaining that the appropriate title documents exchange hands in conjunction with the RVs purchase. Additionally, the company assists RV borrowers by referring them to appropriate title services in order to assure that the RVs ownership is properly recorded.
RV LOAN WORK FLOW PROCESSES
Individualized Rate Quote - Interested borrowers discuss their finance needs with an RV Finance Specialist. This can be accomplished telephonically, over the internet or in person at an RV trade event. The Finance assesses each borrower’s needs on an individual basis, quotes an interest rate, finance amount and loan term, and delivers a credit application for the borrower to complete.
Loan Application Processing - Loan applicants submit a completed credit application, including a personal financial statement and other pertinent documents directly to RV Credit Direct. Alternatively, the loan applicant can complete a credit application on line. The company reviews the borrower’s credit profile and debt ratio and considers the value of the motorhome, travel trailer or fifth wheel being financed. When ascertaining the value of the collateral, RV Credit Direct considers the year, make, model, mileage, condition and options. Assuming the application package is in compliance with RV Credit Direct’s loan guidelines, the company will issue a loan approval. This process is generally completed within one business day.
Loan Commitments - Upon approval, RV Credit Direct will deliver a written commitment letter to the applicant. This letter will outline the terms of the approval, including any closing stipulations. The loan commitment is generally valid for a minimum of 30 days.
Loan Settlement - RV Credit Direct prepares the loan closing documents after performing appropriate title searches. The loan documents are delivered to the borrower, either via overnight delivery or in person. Once the signed RV loan documents are delivered back to the company, and essential ownership paperwork has been collected, the loan is funded and the loan proceeds are disbursed to the appropriate parties.
Registration and title follow-up - Immediate after the loan settlement, RV Credit Direct ascertains that the appropriate state registration and title documents are delivered to the indicated state agencies and follows up with these agencies on a routine basis until such time that the final title and registration are issued.
BENEFITS OF UTILIZING RV CREDIT DIRECT FOR YOUR RV LOAN NEEDS
Value - RV Credit Direct generates hundreds of millions of dollars of RV loans each year. The significant amount of loan production enables the company to negotiate highly-competitive loan pricing, which is passed on from the loan investor to the RV finance borrower.
Flexibility - RV Credit Direct works with a wide array of investors, enabling the company to offer a variety of loan programs. In addition to standard fixed rate purchase money loans, the company offers refinance, equity take-out, riskier credit, adjustable and variable rate loan products. These additional product offerings translate into greater flexibility, ensuring that the company can meet most RV loan candidate’s financial needs.
Service & Professionalism - RV Credit Direct’s friendly staff are expert in consumer loan transactions. Each team member works to gain an understanding of the borrower’s needs. Because the company’s sole source of revenue relates to making loans, each employee strives to keep each loan candidate completely satisfied.
