A repayment term of 144 months is 12 years; 180 months is 15 years.
Written by Amanda Push │ Edited by Katie Lowery │ Updated March 29, 2024
| Lender | Best for... | Starting APR | Loan amounts | Loan terms | |
|---|---|---|---|---|---|
 | Bad credit borrowers | 6.99% | $10,000 to $10,000,000 | 60 - 240 months | |
 | Co-borrowers | 6.99% | $10,000 and up | 84 - 252 months | |
 | Refinancing | 7.12% | $10,000 to $2,000,000 | 72 - 240 months | |
 | Small loan amounts | 7.49% | $5,000 to $1,000,000 | Up to 240 months | |
 | Fast funding | 7.49% (with autopay) | $5,000 to $100,000 | Up to 144 months | |
 | Luxury RVs | 6.99% | $15,000 to $4,000,000 | Up to 240 months |
Read more about how we chose the best RV loans.
| Pros | Cons |
|---|---|
Can finance RVs up to 15 years old Can finance both private party and dealership purchases No prepayment penalties | Only refinances RV loans above $75,000 Unclear eligibility requirements APRs can get as high as 19.95% |
GreatRVLoan.com has a low minimum credit score threshold (550) and works with challenged-credit borrowers. Still, you may want to work to improve your credit score before applying for a loan, as those with good credit scores tend to lock down the lowest APRs. If your current RV loan has unaffordable rates or you want to change the terms, GreatRVLoan.com also offers the option to refinance your loan. However, it only offers refinancing for loan amounts above $75,000.
| Pros | Cons |
|---|---|
Allows joint RV loan applications Wide variety of loan repayment terms Competitive APRs | Doesn’t provide much insight into RV loan details on its website Credit score of at least 640 needed to qualify Doesn’t fund RV loans directly |
Despite what the name implies, Boatloan.com offers more than just boat loans — this lender also offers RV loans to eligible borrowers. And if you’re not sure you’ll qualify for decent rates, Boatloan.com gives borrowers the option to apply with a co-borrower. A co-applicant can lessen your risk as a borrower in the eyes of lenders, but it’s important to know that your co-borrower will be held equally responsible for making sure the loan is repaid. While Boatloan.com does offer consumers access to flexible repayment terms and competitive rates, bear in mind that Boatloan.com doesn’t fund its loans directly. Instead, it partners with 20 banks to pair you with a loan that meets your needs.
Before applying for an RV loan with Boatloan.com, consider the following eligibility criteria:
| Pros | Cons |
|---|---|
Zero-down program for loans up to $100,000 Financing available to noncitizens Approval may only take one to two business days | Those with credit scores below 680 can only borrow up to $50,000 Charges loan processing fee, as well as official fees Loans may come with a prepayment penalty |
Not only can you use Good Sam Finance Center to finance an RV purchase, this lender can also refinance your existing RV loan. Good Sam can even finance an RV loan from a private seller, which is an option many competitors don’t offer. However, if you want to borrow more than $50,000 from this lender, you’ll want to make sure that your credit score is over 680 before you apply — Good Sam limits how much consumers with lower credit scores can borrow. You’ll also want to budget for additional costs like loan processing fees.
| Pros | Cons |
|---|---|
Low minimum credit score (580) Finances RVs up to 15 years old No down payment required for some loan types under $50,000 | May find larger loan amounts with other lenders Loans not available in Alaska and Hawaii No option to refinance RV loans |
While some RV loan lenders have loan amounts starting at $10,000 to $15,000, iNet customers can get a loan for as low as $5,000 — this could make it a good lender for financing a small RV. iNet also provides a lot of overall flexibility in loan amounts as borrowers can apply for RV loans as large as $1,000,000. iNet will finance RVs that are up to 15 years old, which is a relatively standard restriction among RV lenders. The company’s minimum credit score requirement is 580, though its lowest annual percentage rates (APRs) are reserved for customers with good to excellent credit.
| Pros | Cons |
|---|---|
Doesn’t charge any fees Consumers can pay off RV loan early without any prepayment penalties Same-day funding available | May find larger loan amounts elsewhere Consumers with fair or bad credit likely won’t qualify for a loan No option to prequalify for a loan |
While it takes several days for some RV lenders to approve your loan — and even longer to fund it — LightStream customers may get their unsecured RV loan funds the same day they’re approved and sign their loan agreement. However, LightStream’s loan amounts only go as high as $100,000 (other lenders offer loan amounts in the millions), so this lender may not be a good match if you’re buying a high-end RV. In addition, LightStream doesn’t offer consumers the option to check if they prequalify for a loan and only lends to those with good to excellent credit.
| Pros | Cons |
|---|---|
Wide range of loan amounts Loan repayment terms up to 240 months Offers RV refinance loans | High loan amounts only available for borrowers with excellent credit Only finances RVs up to 12 years old Doesn't offer RV loans in Alaska or Hawaii |
If you want to splurge on your RV purchase, Southeast Financial customers can get approved for loan amounts as high as $4,000,000. Along with these large loan amounts, Southeast Financial customers can also qualify for terms up to 240 months. While some RV loan lenders are willing to finance motorhomes that are up to 15 years old, Southeast Financial only covers vehicles that are 12 years old or newer.
Southeast Financial provides clear RV loan eligibility requirements:
How do I choose an RV loan lender?Just as you would with any financial product, it’s important to shop around for the best RV loan lender. You’ll want to determine whether you qualify and compare loan features.
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Because RVs are often considered luxury items, a credit score of at least 660 to 700 is typically required, though a credit score of at least 700 is strongly preferred. It is possible to get an RV loan with bad credit, but you’ll pay much higher interest rates.
LendingTree can help you find new and used RV loan offers from lenders, including RV loans for motorhomes, fifth-wheels, travel trailers, pop-up campers and toy haulers. We can even help you with RV refinancing and with RV loans for bad credit.
Don’t know your credit score? Sign up for LendingTree Spring to get your free credit score and recommendations to boost your score.If you want to avoid saving up for an RV loan down payment, you may be able to find a lender that requires no money down. However, you may receive higher interest rates if you don’t offer a down payment. To qualify, you’ll likely need to have a robust credit score and be able to secure the loan with valuable collateral. If you can’t repay the loan, you may lose your collateral.
While each lender has its own RV loan application process, you’ll generally follow these steps:
Before applying for an RV loan, you should examine your budget to estimate how much you can afford each month.
With a budget in mind, use our RV loan calculator to estimate your monthly payment and determine how much RV you can afford. You’ll need to know the amount you intend to borrow, the potential interest rate and the expected repayment term.
The best way to get an RV loan is to shop around and compare lenders. Apply to several lenders before accepting an offer. The credit bureaus allow a window ranging from 14 to 45 days for rate shopping — during this period, multiple applications won’t reduce your credit score any more than one would.
You can also apply for dealer financing, though the best rates are usually found with independent lenders.
Each lender has its own set of criteria you’ll need to meet in order to qualify for an RV loan. Lenders typically look for minimum credit scores of at least 660, though you’ll have a better chance of qualifying for a loan if you can improve your score. The lowest rates are commonly reserved for borrowers with scores over 800.
You can make the biggest impact on your credit score by making sure you don’t miss any payments on your bills and paying down debt to reduce your credit utilization rate.
A repayment term of 144 months is 12 years; 180 months is 15 years.
You can use an RV loan for camper financing. If the camper doesn’t meet lender requirements for an RV loan — due to age, miles or other factors — you could consider applying for a personal loan.
Lenders offer financing options for all types of RVs, including Class A, B and C motorhomes, fifth wheels, travel trailers and more. Before applying for RV financing, be sure to check if the lender covers the type of RV you intend to purchase.
Whether you should rent or buy depends on how often you plan to use the motorhome. While renting won’t cost you nearly as much as buying an RV, owning your vehicle can offer more flexibility for when and how you use it. If you’re looking to purchase an RV but still want to save money, you can also consider looking at new versus used RVs.
Like buying a car, purchasing an RV can sometimes come with tax deductions. Specifically, you may be able to deduct the interest, depending on the type of loan you have.