NGFCU: Recreational Vehicles

	Section contents: Northrop Grumman Federal Credit Union loans for new and used RVs feature low interest rates with simple interest calculation and no prepayment penalty, no application fee, and no documentation fee, as well as the convenience of payroll deduction, automatic transfer, or monthly billing. RV is defined as a Motor Home, Fifth Wheel, Travel Trailer, or Van Conversion New RVs, current or prior year not licensed, or less than 2,500 miles, can be financed for up to 90% of the purchase price, including tax and license. Used recreational vehicles, current to six years old, may be financed for 90% of retail Kelley Blue Book* value including tax and license. Used recreational vehicles over six years old but less than 10 years old may be financed for 90% of wholesale value or purchase price, whichever is less, including tax and license. Financing up to 12 years for loans $20,000 and over, 10 years for loans of at least $10,000, and 7 1/2 years for loans under $10,000 Hybrid Loan Program for RVs In addition to the standard variable rate program, a special RV Hybrid loan is available that guarantees the interest rate offered for 5 years and then converts to a regular variable rate for the remainder of the term. Boat Loans - 16 ft. minimum New boats may be financed for 80% of the purchase price excluding tax and license for up to six years. Used boats may be financed for 80% of the Marine Survey excluding tax and license for up to five years.

	All members who qualify based on credit worthiness.
Summary
	Northrop Grumman FCU recreational vehicle and boat loans offer a variety of benefits to members: Competitive rates that offer members financing alternatives to dealer and bank loan options. Repayment terms up to twelve years on new or used recreational vehicles, depending on the loan amount; six years on new boats; and five years on used boats. Pre-approval of amount provides for added purchasing power when negotiating for your best price.