A Tucson, Ariz., online retailer sees a 2011 trend toward cash purchasing to continue into 2012. According to a release from used dealer Pedata RV Sales Center, buying consumers cite a variety of reasons for using cash for major purchases like recreational vehicles, including:
• Security: When paid in full there are no payments.
• Increased Buying Power: Some consumers indicate they felt that their buying power increases when they have cash in hand in comparison to purchasing with the use of financing.
Quicker Purchase: In many cases, a major purchase like an RV can be completed in a shorter amount of time when there are no financing needs. Financing often has temporary roadblocks and hurdles that must be dealt with and that often result in timing delays.
Gerard Pedata, owner of Pedata RV Center, said, “It isn’t necessarily a matter of not being able to obtain financing anymore. Many consumers paying cash have every opportunity to finance their RV purchase. They are using cash because they have recognized the benefits associated with a cash purchase.”