The Recreation Vehicle Industry Association’s (RVIA) Financial Services Committee is making significant progress towards the development of a universal credit application, according to the association’s newsletter, RVIA Today.
A universal application will standardize the information that is obtained from applicants, thus reducing the time needed to process forms and sharply reduce the number of forms that RV dealers will need to fill-out when seeking quotes from retail lenders.
The finance committee, which includes executives from several major banks and finance companies, offered final comments during a meeting in Orlando last month.
Insurance company members of the committee also noted that the universal credit application could serve as a starting point for insurance quotes.
Suggested changes, including a request for insurance information, will be included in a draft universal credit application, which will be circulated to finance committee members prior to the RVIA Board meeting in June. The board will meet during the association’s Committee Week, June 10-13, at the Washington, D.C., Marriott Hotel.