To better serve the needs of our members, we offer multiple payment methods. You can transfer funds from you Solarity… Read More
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Checking the status of your loan or new account application is easy, simply fill out the status form and provide us with your last name, email address, and social security number so we can locate your application.
If you have any questions, please reach out to us via chat, or give us a call at 800.347.9222.
When you open an account at Solarity, you are given a member number. It is typically a 6-digit number, and it may contain a preceding ‘s’. Always omit the ‘s’ and use numeric characters only when making your Solarity loan payment. Your Solarity account number may look something like this: 0000123456-01. Do not enter the preceding zeros or the last two digits.
Below is an example of the correct formatting when entering your account number.
Guaranteed Asset Protection (GAP) insurance is also known as GAP, is the difference between the actual cash value of a vehicle and the balance still owed on the loan. Basically, if your vehicle is totaled, insurance will cover the value of the vehicle, GAP is used to cover the gap… get it?
With Solarity’s vehicle GAP, we include Auto Deductible Reimbursement or ADR. ADR will reimburse you up to $500, twice a year for the first three years if you have to pay an insurance deductible for any reason.
Similar to securing an auto loan, the first place to start is by checking your credit score. Remember, over the life of a 3.5+ year loan, even a 1 percent APR reduction can have a huge effect. If your score is lower than what lenders require to give you a good rate, it may take a few months to bring it up before applying for an RV loan. The next steps are to know what you can afford and to start shopping around in your price range. Don’t forget that the sticker price isn’t the final operating cost and that you still have to account for fuel, storage, maintenance, taxes, title, registration, and insurance. Now it’s time to talk with a variety of lenders to begin comparing terms and interest rates before choosing the loan that works best for you. Most RV dealers offer in-house financing as well. Occasionally, dealer-based financing will give you access to manufacturer deals that can save you money, but never assume dealer financing is your best option. Shop around before you decide.
The two most common options for securing an RV loan are a typical collateral loan (similar to an auto loan) and a home equity loan. A home equity loan requires significant built-up equity, and you may need to pay for an appraisal and closing costs. Home equity loans allow you to take advantage of today’s low home loan interest rates, and payments on a home equity loan are usually tax-deductible.
Yep, just like an auto loan. The amount you borrow is called the loan principal. The certain percentage of the loan that you agree to pay back in addition to the principal is the interest rate.
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