Pedata RV Center cites ABA (American Bankers Association) Credit Delinquency Bulletin (Q4 2009). The Bulletin showed overall loan delinquency improvement for the second quarter in a row. Loans on motorhomes are one of 11 categories tracked by the ABA. RV loan delinquencies fell from 1.64% to 1.44%.
According to the ABA a delinquent loan is defined as being 30 days or more past due. The ABA tracks delinquencies in 11 categories including:
-direct auto loans
–mobile home loans
-property improvement loans
-indirect auto loans
-home equity loans
-home equity lines of credit
-non-card revolving loans
Of the 11 categories 8 showed improvement and RV loans showed the greatest improvement.
Gerard Pedata of Pedata RV Center responded, “The loan delinquency rate improvements are a strong indication of economic recovery. Consumers are getting their finances in order after the abrupt nature of the recession. And banks are moving forward and tentatively offering credit after putting their losses behind them.”
Pedata RV Center sells motorhomes with their full inventory available for viewing online 24 hours a day (Class A, Class C, Class B, Fifth Wheel, etc). They also provide a wide variety of industry specific information to ensure that consumers in the market for motorhomes are aware of the various options and features available in the industry.