{mosgoogle left}The stimulus bill includes a deduction for sales or excise taxes on the first $49,500 of new motorhome purchases. To qualify for the deduction, yearly income must be under $125,000 for an individual or $250,000 on a joint return. The tax break applies only to motorhomes, not travel trailers.
In addition, steps have been taken to make more credit available by including RV consumer loans and dealer floor plan loans in the government’s Term Asset-Back Loan Facility (TALF) program
“Getting RV consumer and dealer business loans added to the TALF program is a big step forward for the industry,” said Richard Coon, president of the Recreation Vehicle Industry Association. “TALF will help qualified dealers to purchase RVs from manufacturers and consumers to borrow money to buy RVs.”
Coon said he is optimistic that as credit eases and the economy improves, the RV industry, which has experienced a sharp decline in sales, will become healthier than ever.
Nikki is a writer and editor for Do It Yourself RV, RV LIFE, and Camper Report. She is based on the Oregon Coast and has traveled all over the Pacific Northwest.
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