Friday, February 26, 2021

Things to Consider Before Purchasing a Boat or RV This Year

With spring almost here, are you thinking about summers on the lake or a road trip to the mountains? 

Purchasing a boat or RV can seem like a confusing and intimidating process to navigate. You may know you want a new vehicle for the water, or an RV to take out on the road, but where do you go from there? Before you go and make a spontaneous purchase, research and ask yourself the right questions to help determine the perfect vehicle for you. 

RV’s and boats come in a variety of sizes with various features at a range of prices. Though one option may seem better than the other, that doesn’t necessarily mean that choice is right for you. Here are some of the biggest things to consider before buying a boat or buying an RV: 

  • Lifestyle/Type of Vehicle. Considering your lifestyle may help you determine what kind of vehicle to purchase. Are you taking your RV to national parks, or are you planning on using an RV for a weekend camping trip?  Both trips may require a different type of RV. Similarly, if you’re buying a boat, where can you dock your boat, and where/how are you planning on using it? A boat for leisure versus a boat for water sports requires different types of boats. Additionally, consider how many people you’re planning on accommodating to help you determine the size of boat or RV you need to purchase.    
  • Features. Once you’ve landed on a consensus of what type of RV or boat to buy, think about the kinds of features you may want your vehicle to have. A big thing to consider for RV’s, for example, is the addition of air conditioning inside the cabin, especially if you’re planning on traveling during the hot summer months. Likewise, how long will you be using your RV or boat at a time? If you’re planning on traveling for a long time, you may need to look at vehicles with a full bathroom so you can shower and bathe. 
  • Budget. Figuring out the type and size of your vehicle, as well as the features you want and need in your boat or RV will massively help you decide on a budget for your purchase, and the price range that you’ll be looking at. Deciding on a budget will also help you answer the question: should I buy new or used? Though new boats and RV’s certainly have the appeal of factory freshness and warranty, a pre-owned vehicle may help you stretch your budget more, especially if you find a vehicle in great condition. Just make sure your pre-owned vehicle is thoroughly checked out. 
  • Where/When to Buy. Now that you have a clearer picture of the vehicle you’re looking to purchase, it’s time to start looking at places to shop! Working with a dealer can help you determine the best vehicle for you. Go beyond the options you’re seeing online and take the time to find a dealership near you so you can see, touch, and feel the boat or RV in person. And ask your friends and acquaintances who have gone through the buying experience for advice! They might know a great dealer for you that you weren’t aware of, or give you bargaining insight you didn’t know. Also, consider the time of year you’re looking to buy. Some times of year are better than others to buy a boat or RV, which will ultimately save you more money in the end. 
  • Financing. It’s no secret that an RV or boat is a large purchase that you may need help financing. From the price of the vehicle to added expenses such as insurance and registration fees, accessories, and safety gear, the final cost can really add up!   Let McHenry Savings Bank turn your dream into reality. Our loan services can help you make that large purchase such as a home, boat, or RV a reality by creating a financial plan that works for you.

Start your secure online application today or give us a call at 815-385-3000.


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