![]() That means the loan is backed by something of value - in this case, the camper itself. Like car loans, many RV loans are secured. That’s why some lenders offer loans designed specifically for RVs.īut there are similarities between auto loans and RV loans. While they do function as motor vehicles, they’re also much more complicated and have different risk factors than cars do. That’s because campers are fundamentally different from cars. You can’t use a vehicle loan to finance an RV. That means many RV buyers will need to borrow money to purchase one. While some RVs cost $10,000 or less, some can cost upward of $300,000, and others even break $1 million. Īn RV loan is used to finance the purchase of a camper. Bank, you’ll need a credit score of 800 or higher to qualify for an RV loan. Bank online loan application process is quick and easy. Bank was the third most popular company to borrow from. In our 2023 auto loans consumer survey, U.S. ![]() Bank include 24-hour customer service, a 0.5% rate reduction discount and no application fees. To get the best APR, your RV has to be new and your loan term has to be 48 months or less, with an amount higher than $25,000. The 160-year-old bank allows you to finance or refinance your new or used RV with loans up to $150,000. Bank offers competitive rates and a vehicle marketplace that makes it easy to browse dealerships. Cons Available only to members High late payment fee Requires fair or better credit U.S.
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