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RVers not stopping, but obtaining credit for new RV is harder
Sept. 24, 2008

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Despite high gas prices and the credit crunch causing consumers to spend less, recreational vehicle owners continue to drive their RVs, according to industry experts. In a survey at RVtravel.com in July, of the 2740 RVers responding, more than half said they would still travel with their RV even if gas hit $7 a gallon. "We may travel to fewer destinations and stay longer, but RVers we remain!" one couple commented.

"The RV industry is down, but fuel prices are not the cause," said Kevin Broom, speaking for the Recreational Vehicle Industry Association. "The prime reason is what we are seeing on Wall Street and the availability of credit."

Those who are interested in buying an RV, in fact, may have difficulty securing a loan to finance their purchase. Only about 65 percent of those who apply for an RV loan are approved, down from recent years, Broom said.    

The costs of travelling by RV are often still lower when compared to other modes of transportation. Family vacations via RV are, on average, 27 percent to 61 percent less expensive than other types of vacations, according to a study conducted by PKF Consulting, an international firm specializing in travel and tourism. This is partly due to the additional hotel and restaurant costs that are typically part of traditional vacations.

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