Outdoorsy launches new RV loan product in partnership with Lead Bank.
We’re happy to announce the launch of an exciting new partnership with Lead Bank to bring competitively low-interest rate loans to our US-based RV owners. Our goal is to help owners refinance their existing RV loans or get new purchase loans quickly and at the lowest interest rates possible.
The partnership between Outdoorsy and Lead Bank is kicking off with the launch of RV loan financing to help eligible owners take advantage of competitive interest rates.
"Most RV owners never refinance their loans and don’t take advantage of the low-interest rates available in the market. This product helps Outdoorsy owners save hundreds of dollars a month,” said Outdoorsy’s Co-founder and CEO Jeff Cavins. “We’re excited to help put more money in the pockets of RV owners.”
In a recent survey, our research team found the majority of new and existing RV owners rarely compare interest rates when shopping for a loan. In fact, 90 percent of RV owners never shop around when getting a loan on their RV purchase, with many RV owners locking into loans with interest rates hovering anywhere from 6-12%.
Unlike traditional RV lenders, our proprietary data allows us to provide unique credit products that Outdoorsy owners won’t find anywhere else.
“We’ve heard this grievance from our owners and many of our most successful listers.” Outdoorsy VP of Product Anish Bhatt said. “Many want to buy a new vehicle and grow their rental business and their fleets, but there hasn’t been a financially viable way to fund the costs. With the launch of our partnership with Lead Bank, we’re thrilled to be able to offer industry-low interest rates that help make RV ownership and rental business dreams a reality.”
In addition to RV loan financing, we soon plan on teaming up with RV dealerships to provide additional loan financing options for folks looking to grow their fleets. In looking to the future, our plans include taking on other financing and banking initiatives to help you upgrade your rigs and continue to build your rental business on Outdoorsy.
If you're interested you can get started here with this short survey. From there, our team will work directly with a Loan Officer at Lead Bank on your behalf.