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Unique features for school employees.

• Variable rates as low as 11.75% APR *.
• Earn 1.5% cash back into your Summer Saver.
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• Automatically lower your rate by 0.50% for every year you make on-time payments.

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Unique features for rewards.

• Variable rates as low as 15.00% APR *.
• Get 10,000 points just for opening a card – a $100 cash value.
• Earn 1.5 points for every $1 spent.
• Enjoy access to a personal travel advisor, luxury hotels and resorts, a personal concierge, and other travel benefits.
• Get more travel rewards for your points faster with higher point-to-ticket values

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Unique features of inspire.

• Six month introductory 0% APR * on balance transfers and purchases. Regular variable rate as low as 13.75% APR * after introductory period ends
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How it works

• Enjoy a rate as low as 9.99% APR *.
• Borrow from $100 to $50,000.
• Use it for almost anything: consolidating higher-interest debt, dealing with an emergency expense, or financing a big purchase — even a motorcycle, boat or RV

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Helping educators.

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Uniform Loan

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• Borrow up to $500.
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• Rates as low as 6.39% APR *. Rate includes a 0.75% discount for auto pay from a SchoolsFirst FCU account.
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An RV loan calculator can show what your monthly payments on an RV loan may be, as well as how much you’ll pay in total interest.

Use this RV loan calculator to estimate the cost of financing a new motorhome, camper or trailer.

» COMPARE: Best RV loans

How to calculate RV loan payments

Here’s what to expect from an RV loan. You can adjust the loan amount, term or rate to see different results in the calculator.

Loan amount: This is the amount you expect to borrow. Unsecured RV loans range from $1,000 to $100,000, so the latter is the maximum amount you can enter into this calculator. Secured loans can be more than $500,000. Get an estimate of the RV’s purchase price before you start shopping for a loan so you know which lenders offer large enough loans.

Repayment term: This is how many years you’ll need to repay the loan. Unsecured RV loan terms are usually two to seven years, while secured RV loan repayment terms can be up to 20 years. You can enter any repayment term into this calculator. You’ll pay more interest overall with a longer repayment term, while a shorter repayment term means higher monthly payments.

Annual percentage rate: The annual percentage rate is the interest rate you expect to get plus any fees. The rate you get on an unsecured loan is determined by a mix of your credit score and history, as well as your income and existing debts. With a secured loan, the RV’s age and mileage also factor into your rate.

RV loan calculator

» Learn more about the best RV loans .

Secured vs. unsecured RV loans

The RV you plan to purchase can be used as collateral to secure your RV loan. An unsecured loan does not require collateral.

Secured RV loans are more common at banks and credit unions. These loans may require a down payment, which means cash upfront but a lower loan amount. Because the RV is collateral for the loan, a lender can take it from you if you fail to make payments.

Unsecured loans are mostly found at online lenders. These loans don’t require collateral or a down payment, but may have higher rates than secured loans. Online lenders will typically let you pre-qualify , so you can check your potential rate without affecting your credit score.

Here's what average estimated APRs are on unsecured personal loans, based on FICO score ranges:

Source: Average rates are based on aggregate, anonymized offer data from users who pre-qualified through NerdWallet from March 1, 2024, through March 31, 2024. Rates are estimates only and not specific to any lender. The lowest credit scores — usually below 500 — are unlikely to qualify. Information in this table applies only to lenders with maximum APRs below 36%.

To determine which RV loan is best for you, compare the pros and cons.

Pros and cons of secured and unsecured RV loans

Common questions about rv loans, where can i get an rv loan.

RV loans are available from online lenders, banks and credit unions. Banks and credit unions will be more likely to offer secured loans, which typically have lower rates, but may require a down payment.

How long are RV loans?

RV loan repayment terms vary based on the type of loan and the lender you choose. You can expect terms ranging from two to seven years for unsecured loans. For secured loans, terms can be as long as 15 or 20 years.

How do I apply for an RV loan?

You can apply for an RV loan directly with the lender. Most lenders offer online applications, but you may need to visit a branch to close the loan.

When you apply for the loan , you’ll supply personal information, including your Social Security number and vehicle details if the loan is secured. You may also be asked to supply verification documents like proof of identity, employment and income.

Approval and funding time vary. Online lenders are usually the fastest, with funds available in your account one or two business days after closing the loan.

NerdWallet recommends comparing loans to find the lowest rate and best features for you.

Other loan calculators

Credit score loan calculator : See what rate you could qualify for on a personal loan, based on your credit score.

Debt-to-income calculator : Find out your debt-to-income ratio, which most lenders consider when you apply for a personal loan.

Personal loan calculator : Check estimated interest rates and payments for a personal loan, based on your credit score.

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Best RV loans of April 2024

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Hanneh Bareham has been a personal finance writer with Bankrate since 2020. She started out as a credit cards reporter before transitioning into the role of student loans reporter. She is now a writer on the loans team, further widening her scope across multiple forms of consumer lending.

• • Auto loans

Pippin Wilbers is a Bankrate editor specializing in personal and auto loans. Pippin is passionate about demystifying complex topics, such as car financing, and helping borrowers stay up-to-date in a changing and challenging borrower environment.

What to know first: The best lenders for RV loans give you access to higher loan amounts at lower rates and longer terms to help you finance the perfect RV for your travel plans. You can expect loan amounts as high as $100,000 with repayment terms as long as seven years. Read more

Bankrate’s experts scored lenders with a 20-point system to pick the best. We took an in-depth look at their APRs and fees, how easy they are to contact, customer reviews and the quality of information you’ll find on their websites. Read our methodology for more details on how we chose the best RV lenders . 

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Table of contents

• Compare RV loans rates

A closer look at our top RV loan lenders

How we made our picks for best rv lenders, how to compare rv loan lenders, what to know about rv loans, what is an rv loan.

• Current RV loan interest rates

How to apply for an RV loan

• Frequently asked questions

Definition of terms

APR Annual percentage rate, or APR, represents the interest rate plus any additional fees that may impact the annual cost of your loan.

Estimated monthly payment How much you can expect to pay on your loan each month based on the loan principal, loan term and interest rate.

Term The period of time until your loan achieves maturity and is paid off in completion. Terms can be expressed in months or years, depending on the details of your loan.

Total interest and fees Total interest and fees include estimated interest over the life of your loan and origination fees, if applicable.

AutoPay Automated payments are recurring monthly charges on a bill's due date that are automatically deducted from the borrower's account. These are normally used for loans, mortgages and other bill payments.

Bankrate Score Bankrate's scores for personal loan lenders evaluate 11 data points related to loan costs and terms, as well as customer experience.

Max Loan Amount The max loan amount is the largest sum a lender will give. This amount may not be available to borrowers who don't have good or excellent credit.

Settlement Fee The estimated range of fees, as a percentage of your total debt amount resolved, that are owed to the debt settlement provider as payment for their services.

BBB Rating Represents the Better Business Bureau's opinion of how the business is likely to interact with its customers. The BBB is a non-profit organization which has helped provide unbiased information to consumers for over 100 years. The BBB rating is based on information BBB is able to obtain about the business, including complaints received from the public. BBB assigns ratings from A+ (highest) to F (lowest).

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PERSONAL LOANS

Bankrate Rating = 4.7 /5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

The annual percentage (APR) includes your interest rate, plus any loan fees. It reflects the total cost of borrowing.

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This lender is registered in states where it does business, has a Consumer Loan Company License and was vetted by the Bankrate Editorial team.

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*Your loan terms, including APR, may differ based on loan purpose, amount, term length, and your credit profile. Excellent credit is required to qualify for lowest rates. Rate is quoted with AutoPay discount. AutoPay discount is only available prior to loan funding. Rates without AutoPay are .50% points higher. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice. Payment example: Monthly payments for a $10,000 loan at 9.99% APR with a term of 3 years would result in 36 monthly payments of $322.62.  Truist Bank is an Equal housing Lender. © 2024 Truist Financial Corporation. Truist, LightStream, and the LightStream logo are service marks of Truist Financial Corporation. All other trademarks are the property of their respective owners. Lending services provided by Truist Bank.

Upgrade: Best for fast funding

Check rate with Bankrate

Upgrade offers loans to borrowers with scores as low as 600, making it a good choice if you want to finance an RV with some bumps in your credit history. You’ll be capped at a loan amount of $50,000, but you can spread your payments out over terms up to 84 months. If you’d rather spruce up your credit first, more than 50 percent of Upgrade borrowers on Bankrate used their loans to consolidate debt.

• U.S. citizen or permanent resident
• At least 18 years old
• Valid email address
• Valid bank account
• 1.85 percent to 9.99 percent origination fee
• $10 late fee
• $10 returned check fee

Up to 4 business days; up to 2 weeks if sent directly to creditors

• Low starting loan amounts in some states
• Accessible to fair credit borrowers
• No prepayment penalty
• Minimum income and credit score not specified
• Origination fee of 1.85 to 9.99 percent
• High maximum APR

Personal loans made through Upgrade feature Annual Percentage Rates (APRs) of 8.49%-35.99%. All personal loans have a 1.85% to 9.99% origination fee, which is deducted from the loan proceeds. Lowest rates require Autopay and paying off a portion of existing debt directly. Loans feature repayment terms of 24 to 84 months. For example, if you receive a $10,000 loan with a 36-month term and a 17.59% APR (which includes a 13.94% yearly interest rate and a 5% one-time origination fee), you would receive $9,500 in your account and would have a required monthly payment of $341.48. Over the life of the loan, your payments would total $12,293.46. The APR on your loan may be higher or lower and your loan offers may not have multiple term lengths available. Actual rate depends on credit score, credit usage history, loan term, and other factors. Late payments or subsequent charges and fees may increase the cost of your fixed rate loan. There is no fee or penalty for repaying a loan early. Personal loans issued by Upgrade's bank partners. Information on Upgrade's bank partners can be found at https://www.upgrade.com/bank-partners/.

*Accept your loan offer and your funds will be sent to your bank or designated account within one (1) business day of clearing necessary verifications. Availability of the funds is dependent on how quickly your bank processes the transaction. From the time of approval, funds sent directly to you should be available within one (1) business day. Funds sent directly to pay off your creditors may take up to 2 weeks to clear, depending on the creditor.

Prosper: Best for borrowers with good credit

Prosper was the first company to offer peer-to-peer lending in 2005, which puts your application in front of several investors at once versus just one. You can borrow up to $50,000 for your RV with repayment terms as long as 60 months. If you’ve got too much credit card debt to qualify for the payment, consider consolidating your debt first: Prosper is also Bankrate’s 2024 award winner for best fair credit personal loan lender.

• Have a U.S bank account
• Have a Social Security number
• Origination fee of up to 5 percent
• $15 or 5 percent late fee
• $15 insufficient funds fee
• $5 or 5 percent check payment

Same day as approval

• Joint applications allowed
• No prepayment penalties
• Origination fee
• High maximum interest rate

For example, a three-year $10,000 personal loan would have an interest rate of 9.88% and a 6.99% origination fee for an annual percentage rate (APR) of 14.93% APR. You would receive $9,301 and make 36 scheduled monthly payments of $322.11. A five-year $10,000 personal loan would have an interest rate of 11.64% and a 7.99% origination fee with a 15.36% APR. You would receive $9,201 and make 60 scheduled monthly payments of $220.63. Origination fees vary between 1% and 7.99%. Personal loan APRs through Prosper range from 8.99% to 35.99%, with the lowest rates for the most creditworthy borrowers. Eligibility for personal loans up to $50,000 depends on the information provided by the applicant in the application form. Eligibility for personal loans is not guaranteed, and requires that a sufficient number of investors commit funds to your account and that you meet credit and other conditions. Refer to Borrower Registration Agreement for details and all terms and conditions. All personal loans made by WebBank.

SoFi: Best for flexible repayment terms

on Bankrate

 SoFi gives you borrowers with scores as low as 680 access to up to $100,000 for an RV purchase, which is 15 points lower than the overall RV loan winner LightStream. You can finance your RV for up to seven years. You can also add a co-borrower to help you qualify for a higher loan amount, which LightStream doesn’t allow. 

• Meet age of majority
• Be a U.S. citizen or resident
• Be an eligible non-resident
• Live in an eligible state
• Have a sufficient income or job offer

In a few days; larger loans may take longer

• Soft credit check with prequalification
• Variety of loan amounts and term lengths
• Member benefits
• Financial requirements unclear
• High minimum credit score
• No co-signers

Fixed rates from 8.99% APR to 29.99%APR reflect the 0.25% autopay interest rate discount and a 0.25% direct deposit interest rate discount. SoFi rate ranges are current as of 02/06/2024and are subject to change without notice. The average of SoFi Personal Loans funded in 2022 was around $30K. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed and will depend on the term you select, evaluation of your creditworthiness, income, and a variety of other factors.

Loan amounts range from $5,000–$100,000. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 0%-7%, which will be deducted from any loan proceeds you receive.

Autopay: The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest paymentsbyan automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. Autopay is not required to receive a loan from SoFi.

Direct Deposit Discount: To be eligible to potentially receive an additional (0.25%) interest rate reduction for setting up direct deposit with a SoFi Checking and Savings account offered by SoFi Bank, N.A. or eligible cash management account offered by SoFi Securities, LLC (“Direct Deposit Account”), you must have an open Direct Deposit Account within 30 days of the funding of your Loan. Once eligible, you will receive this discount during periods in which you have enabled payroll direct deposits of at least $1,000/month to a Direct Deposit Account in accordance with SoFi’s reasonable procedures andrequirements to be determined at SoFi’s sole discretion. This discount will be lost during periods in which SoFi determines you have turned off direct deposits to your Direct Deposit Account. You are not required to enroll in direct deposits to receive a Loan.

On This Page

• How we made our picks for the best RV lenders

What are the current interest rates for RV loans?

Compare rv loan rates from bankrate’s top picks.

This table presents key details about the above lenders so you can easily compare them side-by-side.

Here's a deep-dive into each lender, why it's the best in each category and specifically who would benefit most from borrowing from the lender.

LightStream: Best overall RV loan

Overview: LightStream is one of the most competitive online lenders in the personal loan space, offering a quick application process, fast funding and low APRs. LightStream is owned by  Truist Bank . While LightStream's standard rates run from 7.49 percent to 25.49 percent, its RV loan cap out at just 15.89 percent.

Who it's for

Borrowers looking to take out a larger loan with a low rate and long repayment term.

Stand-out features

• Established in 2012 
• Available in all 50 states 
• Online application 
• Rate beat program
• Loan experience guarantee

Bankrate insights on LightStream borrowers

Here is the credit score breakdown of borrowers who took out loans through LightStream.

• Good Credit 24%
• Excellent Credit 76%

Upgrade: Best for fair credit

Overview: Personal loans from Upgrade come with the benefit of competitive, fixed rates, a simple application, quick funding process and flexible borrowing amounts. These loans can be used to refinance credit cards, consolidate debt, take on home improvement projects or finance major purchases.

Borrowers with lower credit scores or who need a co-borrower.

• Established in 2016
• Joint applications
• Customer service 7 days a week 
• Adjustable payment date

Bankrate insights on Upgrade borrowers

Here is the credit score breakdown of borrowers who took out loans through Upgrade.

• Fair Credit 41%
• Excellent Credit 35%

Prosper: Best for peer-to-peer lending

Overview: Prosper is a personal loan pioneer — the company became the first firm to enter the peer-to-peer lending arena when it launched in 2005. Prosper offers unsecured personal loans through WebBank to customers with a variety of credit profiles. It also offers home equity lines of credit (HELOCs).

Good credit customers who want more investor choices.

• Established in 2005
• Online application
• Available in 48 states
• Over 1.4 million customers served
• Next-day funding offered
• Prequalification available
• Payment due date changes allowed

Bankrate insights on Prosper borrowers

Here is the credit score breakdown of borrowers who took out loans through Prosper.

• Good Credit 67%
• Excellent Credit 33%

SoFi: Best for adding a co-borrower

Overview: A SoFi personal loan is a good choice for borrowers who have a stable income and good-to-excellent credit. Along with a fully digital experience, SoFi has large loans and accepts joint applications. 

Customers with slightly lower credit scores who want to borrow large loan amounts.

Bankrate insights on SoFi borrowers

Bankrate's trusted personal loans industry expertise.

years in business

lenders reviewed

loan features weighed

data points collected

To select the best personal loans, Bankrate’s team of experts evaluated over 30 lenders. Each lender was ranked using a meticulous 20-point system, focusing on  four main categories :

Affordability

The interest rates, penalties and fees are measured in this section of the score. Lower rates and fees and fewer potential penalties result in a higher score. We also give bonus points to lenders offering rate discounts, grace periods and that allow borrowers to change their due date. 

Availability

Minimum loan amounts, number of repayment terms, eligibility requirements, ability to apply using a co-borrower or co-signer and loan turnaround time are considered in this category.

Customer experience

This category covers customer service hours, if online applications are available, online account access and mobile apps.

Transparency

For this factor, we consider how well information is presented to the borrower on the lender’s website. This includes listing credit requirements, rates and fees, in addition to offering prequalification.

For many, an RV is often a hefty expense that requires financing. When sifting through lenders, consider these factors to find the best match. 

• Loan approval requirements: Every lender has a unique set of approval requirements. Lenders that specialize in RV financing generally require a high credit score, low debt-to-income (DTI) ratio, steady income and clean credit history. 
• Available interest rates: To get the best interest rate available, compare quotes from lenders by prequalifying. The rates displayed on the lender website are the minimum and maximum you can qualify for. 
• Loan amounts: RV loan amounts can be high depending on the vehicle you want to buy. Use a loan calculator to determine exactly how much you need to borrow. Include costs like sales tax, insurance and immediate maintenance and repair costs. Borrow only what you need so you avoid paying interest on money you're not using.
• Repayment options : RV lender terms tend to be long since recreational vehicles tend to cost more than cars. A longer repayment term keeps your payment low but costs you more interest in the long run. Consider the repayment options each lender offers to determine what will best align with your financial goals. 
• Customer experience: An important part of the lending process is your experience as a customer. Before applying, think carefully about whether you prefer an in-person or a completely online experience. Check with your local bank or credit union if you prefer in-person service.
• Perks and special features:  Whether the lender has usage restrictions, discounts offered, additional features and special programs may help sway your decision when comparing similar lenders.

While an RV loan is typically specific to the purchase or refinance of a recreational vehicle, it works like any other installment loan . A financial institution or lender provides the funds for the purchase, and you pay back the money with interest over a specified time frame. 

Some RV loans are secured loans , meaning they’re backed by collateral — usually the RV itself.

Before diving into the lender comparison process, know exactly what you want from a lender to find the best loan for you and your financial situation. Loans will differ based on what type of vehicle you're financing — and if you're financing a motorhome or RV — how you intend on using it. 

An RV loan is a type of installment financing used to buy a recreational vehicle, camper or travel trailer. You’ll typically receive a fixed-rate loan in a lump sum and make monthly installment payments for the term of the loan. Most RV loan terms range between two and 10 years.

Dealerships often offer secured RV loans. They may also be available through your local bank, credit union or online lenders. 

Unsecured personal loans can also be used to finance an RV if you can afford the higher rates and fees that usually accompany them. 

Why are RV loans less common?

Mark Kantrowitz

Denny Ceizyk

Nationally recognized student financial aid expert

RV loans are less common because RVs are less common than other types of motor vehicles. Cars outnumber RVs 25 to 1. RV loans are also more specialized than other types of loans. RV loans involve higher loan amounts and longer repayment terms than most car loans. As recreational vehicles, there is less demand for RVs as compared with cars that are needed for your daily commute.

Senior Loans Writer

To a lender, an RV has some complicated risks associated with it. Because it’s a vehicle, it can depreciate quickly after you purchase it. With starting prices that may rival a home, lenders may not want to offer financing because they won’t recoup their costs if they end up repossessing an RV with lots of miles and wear and tear. If they do lend, they may want a higher down payment, or they may limit the loan amount. You may have to meet higher RV loan approval standards. If you can’t meet the more stringent requirements, an unsecured personal loan may be worth considering since your RV isn’t part of the approval decision.

Types of RV loans

There are two types of RV loans: Secured and unsecured. Which is right for you depends on your credit profile, the amount you require and whether you want to offer your RV as collateral for the loan.

• Secured RV loans:  Secured loans are generally easier to get approved for and have less stringent financial requirements. The lender can repossess your RV if you default. They may also take longer to approve since the RV must meet the lender’s requirements. 
• Unsecured RV loans:  This type of RV loan is simply a personal loan that you take out to fund the purchase of an RV. No collateral is required. Approval is based solely on your credit profile and financial health. Rates may be higher than secured loans because the lender takes on more risk without an asset to seize if you can’t repay the loan. 

Pros and cons of RV loans

Like every other type of loan, there are advantages and disadvantages to taking out a secured or unsecured RV loan. Here's what to be aware of before signing your final paperwork.

• No collateral is required to qualify for unsecured loans.
• Funding is often faster for unsecured loans.
• Some lenders offer RV-specific benefits.
• Higher loan amounts and longer terms may be available than other loan types.
• Interest rates and fees may be more expensive than other types of financing.
• If you fail to make the monthly payments, you risk losing your RV on a secured RV loan.
• You may need a down payment to qualify for a secured RV loan.

Insurance for RV loans

Money tip: To get a loan from most lenders, you’ll need proof of insurance. Depending on your insurance company and vehicle details, the insurance costs could add a significant amount to your monthly payment, so budget for that as well. To speed up the process on a secured RV loan, get a quote from your insurance company and ensure your coverage meets the lender's requirements.

Current secured RV loan rates can range from around 7.50 percent up to almost 36 percent. If you have fair or poor credit your interest rate will likely be higher. In this case, consider saving for a larger down payment and working to improve your credit . 

What is considered a good interest rate for an RV loan? 

Your RV rate is considered “good” if it’s combined with a loan amount and term that gives you an affordable payment without a lot of origination fees. For example, you may be offered the lowest rate for a short term — like two years. However, you’ll make a bigger monthly payment than if you chose a slightly higher interest rate with payments spread out over a longer term, like seven years. Always shop around to get the best rate at the lowest cost. 

The process of applying for an RV loan may vary depending on whether you choose a secured or an unsecured loan. Getting a secured RV loan is similar to taking out an auto loan , but otherwise, the basic steps for either loan type are similar. 

1. Check your credit score

The best interest rates and terms are usually reserved for borrowers with mid-700 credit scores. Most lenders require a good credit score to qualify for an RV loan, which is typically a FICO score of 670 or above. If your score is lower than that, you may qualify for a fair or bad credit personal loan , but the interest rate and fees will be much higher. 

2. Decide whether you want a secured or unsecured RV loan

You may find lower-cost options on a secured RV loan since the lender can repossess the RV if you don’t repay it. You won’t risk losing your RV if you finance it with an unsecured loan, but the rate and terms may be more expensive. 

3. Have your income documents handy

You’ll need to verify you have enough monthly income to repay your loan and any other credit accounts that appear on your credit report. Lenders compare how much of your monthly income is spent on debts and see if you meet their debt-to-income  ratio standards. Consider a co-signer if you don’t qualify for the amount you need on your own. 

4. Compare loans at several different lenders

Always prequalify with at least three different lenders and compare the rates, fees, loan amounts and terms they offer to find the best fit for your finances. Make sure you’re comparing apples-to-apples loan types. For example, if you want a secured RV loan, only compare rates and terms at lenders that offer them.

5. Choose a lender and apply

Once you’ve reviewed your offer and picked the best option, follow the lender’s instructions to apply. Make sure this is the lender you prefer because this step requires a hard credit check, which will temporarily drop your credit score. 

6. Gather financial documents once you’re approved

The documents you need will vary from lender to lender but typically include paystubs, proof of your identity like a social security card or U.S. driver’s license, proof of your current address and bank statements or asset information. If you apply for a secured loan, the lender will also need detailed information about the RV you’re financing. 

7. Receive funds

If you take out a secured loan, your funds will be paid directly to the RV dealer. If you choose an unsecured personal loan, in most cases, the funds are paid to your bank account for you to use to buy your RV. 

Alternatives to RV loans

If an RV loan isn't your best financing route, there are a few other ways to fund your purchase. However, your options may be more limited due to the expensive nature of RVs.

Pay in cash

RVs are expensive vehicles, so paying in cash is impossible for many buyers. But if it’s an option for you, this route allows you to avoid paying interest. Since RVs depreciate like any other vehicle, a lightly used RV may be significantly more affordable than a brand-new one. 

Home equity loan

If you’ve built a lot of equity up in your home and a seven-year RV repayment term isn’t long enough, a home equity loan may be worth a look. The major benefit is you can choose terms as long as 30 years, although 10- or 20-year terms are more common. Rates are usually fixed and often lower than personal loans, especially if your credit score isn’t that high. 

One big drawback: The lender could foreclose on your home if you can’t repay the loan. Additionally, the lender will need to vet your home to approve you. You can expect the approval process to take several weeks.

Rent instead of buying

Buying may not be the best option if you aren't using the RV regularly. Consider how you'll use the camper and consider whether renting makes more sense . You may be able to save on insurance, storage and maintenance costs if you're only planning on taking it out once or twice a year.

Frequently asked questions about RV loans

Can someone co-sign an rv loan.

Some lenders allow co-signers on RV loans. Remember, if someone co-signs on an RV loan with you, they are liable for the debt. The account typically shows up on their credit reports and could affect their ability to qualify for another loan.

How do I get a lower interest rate on my RV loan?

There are several strategies you can employ to be approved for a lower interest rate, like providing a larger down payment, choosing a shorter repayment term or borrowing a higher loan amount. Improving your credit score can also help, as can decreasing your debt-to-income ratio. Rates on newer RVs also tend to be higher than older used ones. Always compare quotes from different lenders to spot the best deal.

What is the average term for an RV loan?

According to J.D. Power , the average RV loan term is between 10 and 15 years. Some banks, credit unions or dealership lenders may offer terms as long as 20 years. 

Can you prequalify for an RV loan?

Most lenders allow you to prequalify if you decide to get an RV loan from a lender rather than financing through the dealership. This allows you to see terms you’re eligible for without hurting your credit. The lender will perform a soft credit check to determine what you might be eligible for. You will still have to do a hard credit check when you officially apply. However, prequalifying gives you an idea of your terms with a particular lender without making a commitment.

We'll Be Right Back!

RV Loans and Refinancing

Rates as low as 8.40 % apr for 180 months on new rvs.

Terms up to 240 months available for new, used and older RVs or refinanced loans See note 1

Refinance my RV

All listed rates include a 0.25% discount for using optional automatic payments. See note 1

Membership eligibility and product restrictions apply and are subject to change.

Bank products provided by USAA Federal Savings Bank, Member FDIC.

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Private Loans for College

Apply for a student loan.

Paying for college can be stressful. Whether you're a college student or the parent of a college student, we'll help you find the best student loan option for your education.

First Bank and Trust Company has partnered with College Ave Student Loans , a private student loan company, to provide financing options without the stress.

• Easy online application – instant credit decision
• Get your student loan rate in 60 seconds
• No application or prepayment fees
• Build a repayment plan that fits your budget

Student Loan Refinancing

Student loan refinancing may help you reduce your monthly payment and even the total cost of your loan. Combining multiple student loans into one loan can make repayment easier and simplify your life. You can check out student loan refinance rates and receive an instant decision on your loan application today.

Frequently Asked Questions About Student Loans

How do student loans work how do student loans work.

College Ave Student Loans' products are designed to help you pay for school as easily as possible.

We offer great rates and flexible repayment terms, so you can decide how and when to pay your loan back.

What's the difference between a Student loan and a Parent loan? What's the difference between a Student loan and a Parent loan?

Parent Loan:

A Parent loan is money a student’s parent or guardian borrows to help pay for school. The loan is entirely in the parent’s or guardian’s name, and they are taking full responsibility for repaying the loan. Like other student loans, a Parent loan is used to cover college-related costs, such as tuition, supplies, or room and board.

Undergraduate or Graduate Student Loan: 

When an Undergraduate Student Loan or Graduate Student Loan is cosigned, it is in both the student and cosigner's name. As a cosigner, you’re taking equal responsibility with the student and are providing your financial background to help guarantee that the loan will be paid back. A Parent loan, on the other hand, makes you the sole borrower on the loan.

What is the difference between a federal loan and a private student loan? What is the difference between a federal loan and a private student loan?

Federal student loans are funded directly by the federal government. Applying for a Federal student loan requires that you complete the Free Application for Federal Student Aid (FAFSA). We recommend that you complete the FAFSA and apply for federal student loans before considering private student loans. Those who do not qualify for federal loans or who have already exhausted their federal loans often consider private undergraduate student loans.  

Private loans are any student loans issued by banks or other private lenders. When it comes to choosing a private student loan, there is no one-size-fits-all solution; students should compare their options and find a solution that works best for their financial situation.  

What can student loans be used for? What can student loans be used for?

Student loans can be used to cover education related costs including things like tuition and fees, books and supplies, housing and food, and commuting.

How much can I borrow for a student loan? How much can I borrow for a student loan?

College Ave's Student and Parent loans will cover up to 100% of the school-certified cost of attendance, which typically includes things like tuition and fees, books and supplies, housing and food, and commuting expenses.

The minimum amount you can borrow is $1,000.

Can I use a student loan for online school? Can I use a student loan for online school?

College Ave does not currently lend to schools that only offer online education. We currently lend to students attending schools that are considered Title IV eligible, which is determined by the US Dept. of Education. Title IV schools include public and private universities, community colleges and career training schools. Students enrolled in an online program at an eligible school can use a College Ave Student Loan to cover the cost of attendance.

If you can't find your school in the student loan application, it's possible that your school isn't currently on our eligible list. You can send an email to [email protected] with your school’s name, and we'd be happy to confirm eligibility.

Can I use a student loan for community college? Can I use a student loan for community college?

Yes. We currently lend to students attending schools that are considered Title IV eligible, which is determined by the US Dept. of Education. Title IV schools include public and private universities, community colleges, and career training schools.

When does student loan repayment start? When does student loan repayment start?

You will be notified when it is time to start paying back your Student or Parent Loan. In addition to sending a monthly billing statement, College Ave will send you a few email reminders. You'll get the first email about 45 days before your first payment is due. The second email will come 5 days before your first payment is due.

For Undergraduate and Graduate loans:

College Ave does not require payments while the student is enrolled in school. There are 4 different repayment options: Deferred, Interest Only, Flat Pay (you pay $25 a month) and Full Principal and Interest.

If you don't want to make any payments until after graduation, select Deferred.

If you choose Deferred, interest Only, or the Flat Pay options, the full principal and interest payments will start 6 months after graduation for undergraduate loans and 9 months after graduation for most graduate student loans.

For a Parent loans:

College Ave requires that you pay at least the monthly interest charges while the student is in school.

What happens if you don't pay student loans? What happens if you don't pay student loans?

If you’re having trouble making payments, contact College Ave Student Loans immediately. We have several options for customers who are unable to meet their monthly payment obligations. A customer service representative will be able to discuss available options based on your individual circumstances.

Can you get a student loan without a parent? Can you get a student loan without a parent?

Most students have limited credit history and income, so they'll likely need a cosigner who has good, established credit to be eligible for a private student loan.

Applying with a cosigner, such as a parent, can increase your chances of getting approved and could result in a lower interest rate.

You May Also Be Interested In

Checking accounts for college students, education planning for parents, let's get started working together.

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• web: www.ibls.ru

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