More than $15 billion worth of recreational vehicles are sold each year. From trailers to motorhomes, the market for recreational transportation is only increasing. According to Zion Market Research, the RV market is expected to reach $64 billion by 2024.
With millions of people looking to buy RVs, one of the largest barriers to entry is financing that vehicle or piece of equipment. Customers need to notarize a power of attorney so that financial services providers can negotiate loan rates on their behalf with a lender.
Up until recently, that process was done entirely in paper, occurring at either dealerships or asking those looking to finance RVs to visit their local bank or credit union.Read more