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Believe it or not, getting an RV loan is more similar to getting a home loan than an auto loan. However, there aren't nearly as many lenders offering RV loans as there are lenders offering auto loans or mortgages.
So, it can take some work to find one. But whether it's a small trailer to pull behind your vehicle or a luxurious Class A motorhome, there's probably a loan for it.
Best RV Loans of 2024 Summary
- Best for competitively low interest rates: Lightstream RV Loans
- Best for large loans: Truist RV Loans
- Best for a wide range of RV types: Alliant Credit Union RV Loans
- Best for poor credit: Southeast Financial RV Loans
Compare Personal Loan Rates
Compare the Best RV Loans
7.99% to 16.64% with AutoPay (Rates vary by loan purpose.)
Undisclosed
$5,000 to $100,000
8.61% to 10.61%
Undisclosed
starts at $10,000
- TK
- TK
- TK
Starts at 7.04%
Undisclosed
Up to $300,000
- TK
- TK
Starts at 7.99%
550
$15,000 to $4 million
RV Loan Frequently Asked Questions
How much time you have to repay an RV loan depends on your loan term. RV loan term lengths vary by lender and the amount you borrow. Larger loans for RVs tend to have longer terms, but each lender varies on the maximum length of time. It is possible to pay off an RV loan early in many cases. If you think you might do so, be sure to avoid lenders with prepayment penalties.
Yes, you can get a 10-year term on an RV loan. RV loans can be much larger than auto loans, and many lenders will give you more time to pay them off.
Some companies offer RV loans for borrowers with bad credit, but you'll probably pay a high interest rate. RVs are luxury items, and loans for RVs already have higher interest rates than car or home loans. They're also generally harder to qualify for as a result. In our research, we found that many RV lenders require a minimum credit score of 700.
The maximum amount for an RV loan depends on the lender. Some lenders offer RV loans of up to $4 million, but $100,000 is a more common maximum loan amount.
In our research, we found that many RV lenders require a minimum credit score of 700.
Best RV Loan Company Reviews
RV loans have higher interest rates than auto loans, so we focused on options with relatively low rates to come up with our list of the best options. We focused on RV loans that apply to a variety of RV types and loan amounts. While RV loans generally require higher credit scores than other loan types, we found a good option for poor credit.
Best for Competitively Low Interest Rates: Lightstream RV Loans
LightStream is an online lender backed by Truist Bank (Member FDIC) known for quick funding and low interest rates on various loan types, including RV loan rates. The bank has top marks from Business Insider for personal loans and auto loans. So, it's no surprise that LightStream also offers competitive RV loans.
While this lender doesn't offer massive RV loans — the maximum loan amount is $100,000 — the typical buyer can finance their RV comfortably within this amount and get a competitively low interest rate from LightStream. While some lenders exclude some RVs, LightStream is open to almost all of them, including motorhomes and trailer-style RVs.
Borrowers should know that LightStream has strict credit requirements. LightStream only works with borrowers with good credit or better, which could exclude some individuals. The lender defines good credit as having several years of credit history, a variety of credit accounts open, a solid repayment history without delinquencies, and stable and sufficient income to repay the loan.
LightStream Personal Loan Review
Best for Large Loans: Truist RV Loans
Truist is best for RV loans over $100,000. While that figure seems high, it's probably necessary if you're considering one of the class A or C motorhomes that Truist finances with secured loans — these are generally more expensive RVs.
Truist is best for luxury RV purchases or financing large motorhomes. It's worth noting that Truist's RV loans may require a down payment since they're so large. Truist charges the same rates for new and used motorhomes, which could be helpful for buyers looking for a used motorhome.
Truist doesn't allow the motorhomes it finances to be used as dwellings, which could be a problem for full-time RV-ers. Additionally, loans are not offered in Alaska, Hawaii, or Vermont.
Best for Wide Range of RV Types: Alliant Credit Union RV Loans
With loan amounts of up to $400,000, Alliant can finance a litany of RV types. This includes Class A, B, and C motorhomes, conventional travel trailers, fifth-wheel travel trailers, expandable travel trailers, folding camping trailers, sports utility camping trailers, sports utility camping trailers, and park model RVs. The RVs you borrow must be less than 15 years old and have mileage under 75,000.
Alliant is a credit union, so you need to join Alliant to take out a loan. To qualify, you can work with one of the credit union's partner organizations, be a family member of an Alliant member, or work in a community near the credit union's corporate headquarters in Illinois. If none of those apply to you, you can qualify by joining Foster Care to Success, and Alliant will cover your $5 joining fee.
Also, Alliant doesn't disclose its credit score minimum, but you'll need very good credit to qualify for one of its loans.
Best for Poor Credit: Southeast Financial RV Loans
Southeast Financial is best for borrowers with poor credit. Other RV loan lenders don't allow borrowers with credit scores below 600 to take out a loan, but Southeast Financial welcomes borrowers with low credit scores.
Even if you have previous bankruptcies, the lender will still consider you for a loan. If you don't have great credit, you'll be placed in Southeast Financial's Credit Challenge program and can borrow up to $75,000. Keep in mind that the shakier your financial situation is, the higher the interest rate you'll likely pay.
You'll also be able to get any type of RV you'd like with Southeast Financial — you won't have to worry about the restrictions you'll have to keep in mind with other lenders. Provided you have solid credit, you'll be able to borrow up to $4 million, a significant amount of money to finance the vehicle you want.
RV Loan Company Trustworthiness
The Better Business Bureau, a non-profit organization focused on consumer protection and trust, evaluates businesses using factors like their responsiveness to consumer complaints, honesty in advertising, and clarity about business practices. Here is each company's score:
| Lender | BBB Grade |
| LightStream | A |
| Truist | A+ |
| Alliant | A+ |
| Southeast Financial | A+ |
All of our top picks are rated A or higher by the BBB. Keep in mind that a high BBB score does not ensure a positive relationship with a lender and that you should keep researching and talking to others who have used the company to get the most comprehensive information possible.
None of our top picks have any recent public controversies.
Other RV Lenders We Considered
- Bank of America: Bank of America only offers RV loans indirectly through select dealerships. You won't be able to apply online on your own or purchase outside of a dealership.
- Navy Federal Credit Union: Navy Federal's loans for RV purchases start with higher APRs than those found at other lenders.
- USAA: It's a popular option for military families, but USAA's interest rates are not the most competitive for RV financing.
- US Bank: Interest rates start lower at other banks. Additionally, a late fee of up to $40 applies for late and returned payments.
How To Get an RV Loan
RV loans are much tougher to qualify for than auto loans, with most RV lenders requiring a minimum credit score of 700 and large down payments.
There are several things to expect when getting an RV loan once you've found the trailer or motorhome you want to finance.
- Gather information on your employment, income, and other loans: Since RV loans can be large, expect to be asked for a lot of info on your income and assets. Like a home loan, some RV lenders ask for two years of income history and tax returns. You may also need information on where you live and other debts you have.
- You'll need an inspection on the RV: Like buying a house, you'll need to have the RV inspected before you're able to get a loan on it. An inspection will likely cost between $150 and $200.
- You'll likely need to get a newer RV in order to finance it: Most RV lenders require that RVs be less than 15 years old. If you're looking for a vintage RV or trailer, financing might not be ideal. In these situations, you might consider waiting until you can pay with cash or using a personal loan instead.
How to Choose the Best RV Loan
Here are factors to consider as you compare RV loans:
- Interest rates and fees. Interest rates vary by lender. You'll need a great credit score to qualify for the lowest rates. Common fees include an origination fee, a prepayment fee, and late fees. Together, these numbers determine the total cost of the loan.
- Loan amounts. Every lender has its own maximum and minimum loan amount. If you need a large amount of money to buy your RV, look for lenders offering larger loans.
- Loan terms: This is the amount of time you'll have to repay the loan. Look for a term that fits your budget — keeping in mind that a longer term will lower your monthly payments, while a shorter term will decrease the total amount you pay in interest.
- Down payment. This is the money that you'll pay when you purchase the RV. If you put more money down, you won't need to borrow as much. This could impact interest rates and loan terms.
- Lender reputation. You need a lender that's trustworthy and provides excellent customer service. Read reviews before applying with a lender to confirm they meet these criteria.
- Pre-approval. You can request pre-approval from various lenders without lowering your credit score. This lets you learn what potential rates you'll qualify for before committing.
RV Loan Alternatives
The lenders we've looked at aren't the only way you can get an RV loan. You might want to consider checking with your local credit union to see if they have RV financing available. Oftentimes, credit unions offer these types of loans. If you're a member or are open to joining a credit union, it could be beneficial to find out if it offers RV loans.
Another popular way to finance small RV purchases is with a personal loan. However, these unsecured loans may have higher interest rates than an RV loan. If you can qualify for an RV loan, it's probably your best bet.
Why You Should Trust Us: How We Chose the Best RV Loans
We rate the personal loan products in our reviews and guides on a 1-5 scale. The rating that is awarded is an average that takes into account seven differently weighted categories, such as:
- Interest rate (20% of rating)
- Fees (20% of rating)
- Term lengths and loan amounts (15% of rating)
- Funding speed (15% of rating)
- Borrower accessibility (15% of rating)
- Customer support (7.5% of rating)
- Ethics (7.5% of rating)
Each category is assigned a weighting that reflects the importance of the category on your overall borrowing experience. For example, the interest rates and fees you will pay greatly impact your loan, while other factors like customer service and company ethics still matter but will likely have less of an impact.
See our full ratings methodology for personal loans »
