With the availability of RV financing continuing to be a major issue facing the industry, the Recreation Vehicle Industry Association (RVIA) has produced “RV Financing: A Vehicle for Growth,” an informational DVD designed to help recruit banks, credit unions and financial institutions into the RV market.
According to a press release, the DVD provides an “informative and positive look at the RV market and explains why financial institutions should consider including RVs in their lending portfolio.”
Features include:
• A highlight of industry demographics showing that RV ownership is at record levels with RVing popular among a wide range of age groups, from retirees to younger families.
• How the Go RVing national advertising campaign is bringing new RV owners into the industry.
• Key findings on RV retail indirect and wholesale loans from RVIA’s Survey of Lenders’ Experiences. This includes data from the American Banking Association showing the stability of RV loans, which historically have had lower delinquency rates compared to other types of consumer loans.
“The DVD presents a compelling argument why now is a great time for banks to be involved in RV financing,” said RVIA President Richard Coon. “This will be an ideal tool for RV dealers to use when approaching local banks and credit unions about becoming involved in RV lending.”
RVIA is partnering with RVDA and state RV associations to distribute “RV Financing: A Vehicle for Growth” to dealers nationwide. Additionally, RVIA will use the DVD in its efforts at the national level to educate banking and financial institutions about the RV industry.
Those interested in receiving a copy of the DVD should contact RVIA’s Bill Baker at [email protected] or (703) 620-6003, ext. 331.