Purchasing an RV, camper, or motorhome opens the door to freedom on the road, but these vehicles often come with price tags far higher than a typical car. Financing makes ownership attainable by spreading payments over time, yet RV loans have quirks that set them apart from standard auto financing. This guide explains how RV lending works, what models can be financed, which criteria lenders evaluate, where to look for loans, and how to get ready before you apply.

How RV Loans Differ from Car Loans

RV financing resembles auto loans in structure, but several important differences exist. Loan durations for recreational vehicles are commonly much longer — often extending up to 15 or 20 years — which lowers monthly payments but can increase the total interest paid. By contrast, most car loans run five to seven years. Interest rates on RV loans also tend to be higher because lenders view RVs as greater risk: they are usually more expensive, can depreciate differently, and may be used as a primary residence, which complicates default recovery.

Down payment expectations are typically steeper for RVs than for passenger cars. Many lenders ask for 10 to 20 percent down, especially for older models or borrowers with less-established credit. In short: expect longer terms, potentially higher APRs, and a larger upfront payment compared with standard vehicle loans.

Which Types of Recreational Vehicles Are Financeable

Most lenders provide financing across a broad spectrum of RVs and towable gear. Common categories include:

• Class A Motorhomes: Large, bus-like rigs suited for full-time RV living.
• Class B Motorhomes: Converted vans or campervans that are compact and fuel-efficient.
• Class C Motorhomes: Mid-sized units built on a truck chassis with an over-cab sleeping area.
• Travel Trailers: Towable units ranging from small trailers to luxury fifth-wheels.
• Pop-up Campers: Lightweight, collapsible trailers for seasonal or occasional use.
• Toy Haulers: RVs with an integrated garage space for ATVs, motorcycles, or other toys.

Lenders may vary eligibility and terms depending on vehicle age, construction, and whether the RV is new or used, so review each lender’s policies closely.

Key Factors That Influence Loan Approval and Terms

Lenders assess several elements when deciding whether to fund an RV purchase and what terms to offer:

• Credit Score: Higher scores usually unlock lower interest rates and more favorable conditions.
• Income and Debt-to-Income Ratio: Lenders want proof you can comfortably cover monthly payments alongside other obligations.
• Down Payment Size: A larger down payment reduces lender risk and can improve approval chances and rates.
• Age and Condition of the RV: Newer, well-maintained vehicles are easier to finance than older, high-mileage units.
• Loan Amount: Bigger loans can carry different rates and underwriting requirements.
• Intended Use: If you plan to live in the RV full-time, some lenders treat the loan differently than if it is for occasional travel.

Understanding these factors helps you position yourself for better terms and prepares you to answer common lender questions.

Where to Shop for RV, Camper & Motorhome Loans

You have multiple financing sources to compare, including:

• Banks: Traditional banks often provide competitive rates for qualified borrowers.
• Credit Unions: Many credit unions offer attractive terms, especially to members with solid credit histories.
• Online Lenders: Digital lenders can be fast and convenient, with streamlined applications.
• RV Dealerships: Dealership financing can be efficient but always compare with external offers.
• Specialized RV Lenders: Companies that focus on recreational vehicles understand the market and offer tailored terms.

Shopping around and requesting pre-approval from several sources can reveal better rates and help you negotiate with sellers.

---

Lender	Loan Amount Range	APR Range	Loan Term
LightStream	$5,000 - $100,000	5.99% - 17.49%	24 - 84 months
Bank of the West	$10,000 - $2,000,000	4.99% - 11.89%	Up to 240 months
Good Sam	$15,000 - $2,000,000	5.99% - 17.16%	Up to 240 months
USAA	$5,000 - $500,000	6.55% - 9.99%	Up to 180 months
Navy Federal Credit Union	Up to $500,000	7.79% - 18%	Up to 180 months

---

Prices, rates, or cost estimates mentioned in this article are based on the latest available information but may change over time. Independent research is advised before making financial decisions.

How to Prepare for RV Financing

To maximize your chances of securing favorable financing, take these steps before you shop:

• Review and Improve Your Credit: Pull a recent credit report, correct errors, and take steps to raise your score if needed.
• Save for a Down Payment: Having 10 to 20 percent or more ready will broaden your lending options.
• Compare Lenders: Get quotes from banks, credit unions, online lenders, and specialty RV financiers to compare APRs and terms.
• Get Pre-Approved: A pre-approval letter gives you negotiating power and clarity on your budget.
• Calculate Total Ownership Costs: Factor in insurance, maintenance, storage, fuel, and possible repairs into your budget.
• Choose the Right Size and Features: Be realistic about needs versus wants to avoid over-borrowing.

Final Thoughts

Financing an RV, camper, or motorhome can turn the dream of life on the road into a reality, but it requires careful planning. Longer loan terms and specialized underwriting mean you should compare offers, understand the full cost of ownership, and prepare documentation that demonstrates affordability. With proper preparation and research, you can secure a loan that fits your budget and get one step closer to enjoying life in your home on wheels.