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Everything you need to know about Financing an Off Road Camping Trailer

If you are in the market for a new camping trailer, chances are Financing has been on your mind.  Although shopping for an all-metal off-road capable overland camping trailer is very exciting… it can also be a little overwhelming. Whether you are looking at an Expedition 2.0, Pando 2.0 or a Switchback, once you have decided on the trailer that best suits your needs it is time to start thinking about your finances and how you will choose to pay for the trailer. 

Paying for your Off Grid Trailer 

When it comes to paying for your Off Grid Trailer, multiple options are available, each with its benefits and drawbacks. Some customers can pay outright with savings, others open a line of credit, and many can finance the trailer through a financial institution allowing to spread the price over up to 20 years, leading to a low affordable monthly or bi-weekly payment. As there are multiple ways to pay for your trailer, it is important to look at each option and weigh the pros and cons of each method 

 

Paying in cash leads to no additional cost of borrowing the funds which is a great way to minimize the transaction cost of your new off-road camping trailer. On the downside, spending your savings on a trailer can have long-term costs as you may earn a higher interest rate with the money invested than the financing costs would be over the 20 years. It is also important to keep the importance of an emergency fund in mind when it comes to dipping into your savings. While this may be a good option for some, it is simply not possible for all, which is why it is important to explore all potential options before making a final decision. 

 

Another common option is using a line of credit or secured loan from your local financial institution. Generally, if you have a good relationship with your bank and a good credit score this option leads to a slightly lower interest rate than major financial institution. The downfall of these loans is the length of time you will be able to amortize the costs. With the shorter terms available you will have a much higher payment on a monthly or bi-weekly basis which can reduce your purchasing power when it comes to adding options and other goodies to your Off Grid Trailer. Some financial experts recommend leaving your line of credit available for emergencies rather than discretionary spending, which can be another downfall of this option 

 

One of the most common options to pay for your new Off Grid Trailer is to take advantage of financing available through major financial institution with an RV-specific loan. Off Grid Trailers has partnered with multiple major financial institutions in the United States and Canada to help secure competitive ratesOne key benefit of working with a financial institution through the Off Grid Trailers financing program is the availability of RV-specific loans that can amortize the cost of your new trailer over up to 20 years, which significantly reduces your monthly or bi-weekly payment. Off Grid Trailers has a team that can assist with the pre-approval process to get you camping at a low monthly payment. 

No matter the model you select, whether it is an Expedition 2.0, Pando 2.0, Switchback R or Switchback S, Off Grid Trailers is happy to announce that we now have flexible payment plans to suit your needs in both Canada and the United States.  

Off Road is Better!

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