RV Loans

RV loans offer varying principal amounts and terms depending on the type of recreational vehicle you want. Some lenders can provide you with RV loans worth about $25,000 that need to be paid off within a few years, whereas others can provide you with up to $300,000 that you’ll have to repay over 20 or more years

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Sherine ChebetFinancial Writer

Jul 27.2022. Filed under: Loans for Bad Credit Hub

What Is an RV Loan?

An RV loan is a financial loan product that helps you borrow money to buy a new/used recreational vehicle, camping trailer, or motorhome. This loan is designed for individuals who wish to purchase an RV but can't afford it instantaneously.

RV loans differ significantly from auto loans as they typically involve larger principal amounts and more intricate purchases. In some instances, you can opt for a personal loan when making small RV purchases instead of taking out RV loans for bad credit.

How RV Loans Work

RV loans work very similarly to other conventional loans in that you'll have to submit your information to your lender, who will review, assess and approve the RV loan application. Lenders consider several factors such as your credit score, financial health, net worth, housing, employment, and income to determine your eligibility and the loan terms you'll get. Your lender may also consider the age and value of the recreational vehicle you wish to purchase.

Typically, larger RV loans have stricter borrowing requirements, and the same applies to loans for bad credit. Interest rates for RV loans tend to be higher compared to automobile loans. Nonetheless, your lender may base the interest rate on your creditworthiness, RV's value, location, agreed-upon terms, and other factors.

Most RV loans for bad credit require you to make a down payment of 10%-20%.

Additionally, your lender may ask for an RV inspection to assess the vehicle's condition, which will cost you $150-$200. Some lenders offer zero-down financing where you don't need to provide a down payment but will consider your creditworthiness and the RV's age, condition, and value.

RV loans can be secured or unsecured. Secured RV loans use the RV as collateral and allow the lender to repossess the automobile if you default on payments. Lenders that offer unsecured RV loans can offer amounts of between $5000 and $100,000 that you can use to buy RVs, trailers, and towable campers. Secured RV loans often have lower interest rates than unsecured ones because the collateral reduces the loan's risk.

Where to Get an RV Loan

Borrowers looking to access RV loans can do so by connecting with:

RV Dealership

Getting an RV loan from a dealership allows you to pick your ideal RV and access the loan from the dealership's lending partners or in-house financing department. In some instances, RV dealerships may provide you with some bargaining power on the RV's price and flexibility on APR terms.

Online or Traditional Lenders

Online and traditional lenders such as banks or credit unions are a legitimate way of getting RV loans. This option can allow you to be preapproved for an RV loan, which can be helpful if you're uncertain about which RV you can afford.

Online Brokers

Online brokers are financial companies that can connect you with various RV loan lenders. Using an online broker that allows you to enjoy faster responsiveness, quicker approvals, and access to helpful information whenever you need RV loans for bad credit.

The Best Place to Take out a Loan

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How Did We Identify the Best RV Loans?

We look at several factors that matter to RV buyers, including:

Interest rates

Borrowers tend to prefer RV loans with low-interest rates. We compare different interest rates from RV loan lenders and list the range of interest rates you can choose from.

Nationwide availability

We partner with lenders who provide RV loans across the country and also consider lenders who are available in most states.

Financing for various RV types

We work with lenders that provide financing for various RVs, including motorhomes and trailers.

Better Business Bureau ratings

All the lenders we partner with have high ratings with the Better Business Bureau, meaning they're trusted and reliable.

Can You Get a Loan for an RV With Bad Credit?

Having a bad credit score may make you think you can't get an RV loan, and you may feel reluctant about submitting your information. However, by connecting with lenders on our platform, you can access an RV loan as soon as one business day, even if you have bad credit.

Once you provide your information straightforwardly, we'll search for lenders that meet your requirements and provide them with your details. Additionally, we'll space out your loan inquiries to ensure we don't affect your credit negatively with multiple credit checks.

If you fail to find a fitting lender, we'll review your rejections and discuss how we can develop an action plan to resolve the problem. In some cases, you may find that you've been getting loan rejections because of incomplete information rather than just having bad credit.


1. What Might Prevent Me from Getting a Loan?

Unsuccessful loan applications and low credit scores (below 680) can prevent you from getting RV loans.

2. Is RV Financing Hard to Get?

The RV financing options that you'll get will largely depend on your current financial situation. Lenders will use this aspect to determine your creditworthiness and see whether you qualify for an RV loan. Typically, getting a secured RV loan isn't as challenging as getting an unsecured one because the latter carries more risk for the lender.

3. Can Someone Cosign an RV Loan?

Some RV loan lenders allow you to include cosigners in your agreement, whereas others don't. Having a cosigner on your RV loan will enable you to increase your chances of getting approved if you have bad credit, and it also helps you qualify for loans with lower interest rates.

4. Can You Buy an RV with an Auto Loan?

No. Loans for financing RVs are typically larger and contain in-depth agreements, unlike auto loans. These aspects are due to the fact that RVs are often more expensive than everyday vehicles, and the process of acquiring one is more complex.

5. What Is the Current Interest Rate on RV Loans?

Interest rates for RV loans can be between 4.25% and 11%. However, this percentage may be higher depending on your creditworthiness, lender's terms, and loan amount.

6. How Long Are RV loans?

You can get RV loans that are repaid over 1 to ten years, but most range from 10-20 years. Typically, larger RV loan amounts come with more extended repayment periods.

Apply for Bad Credit RV Loans Online

Having bad credit shouldn’t be a restricting factor as to why you can’t access RV loans. Submit your information now in one simple form, and we’ll connect you with a network of lenders who provide RV loans for bad credit.

Apply now