According to the Michigan Department of Natural Resources, Michigan’s 103 state parks and 138 state forest campgrounds aggregated more than 1.2 million total nights of camping in 2021. When you are in Michigan, you’re never more than a half-hour from a state park, state forest campground, or state trail system.

Likewise, wherever you are in Michigan, you are never more than six miles from a body of water—be it a river, inland lake, or one of the Great Lakes. Moreover, residents are never more than 85 miles from one of those five Great Lakes. It’s no wonder that once spring approaches, people in the Great Lakes State start considering a boat or an RV purchase. And with Arbor Financial Credit Union’s competitive rate on RV and boat loans, there is no better time to Get MORE memories in your very own boat or RV.

But how can you make sure you get the best rate? Here are our top three tips for making sure you don’t take a bath when you take the plunge on your new boat or RV.

1. Check Your Credit and Price Shop 

Before you talk to lenders, you should always have some idea of what’s on your credit report. If you subscribe to  IDProtect you can receive your credit report from all three monitoring firms every 90 days, so you’ll know what’s on your report and what your score is. You can also take action against anything that you think shouldn’t be there, which could be negatively affecting your score. If you are looking for ways to improve your score and more information on credit, click here. If your credit is clean and clear, then your rate will be better. Your wallet will thank you.

2. Think About Terms

Term length and rate go hand-in-hand; the shorter term you get, the more likely you are to get a better rate. Not only that, but if your loan has a shorter term, then you’re paying less interest over the life of the loan. If you can afford the higher monthly payments, it might be something to consider.

3. Get Pre-Approved First 

When you go into a showroom or a dealership with a pre-approval in-hand, then you’re less likely to feel pressured to take an offer from the dealer that might not be the best one for you. You could be locked into a higher interest rate with payment terms you didn’t want because you wanted to ensure you got one particular model. When you go in with a pre-approval in hand, you can be confident about what you’re getting and that you have the best rate for your financial situation.

Arbor Financial has competitive rates for boat and RV loans, and some allow no payments for up to 60 days*. You can lock in a great rate and be enjoying the beautiful outdoors well before your first payment comes due. Talk to a loan specialist today to find the perfect option for you!