Best RV Loans for April 2024 (2024)

  • Loans
  • Personal Loans

My Financing USA, NASA FCU, and Southeast Financial stand out for RV financing


Kat Tretina

Best RV Loans for April 2024 (1)

Kat Tretina

Kat Tretina is is an expert on student loans who started her career paying off her $35,000 student loans years ahead of schedule. Her work has been published by Experian, Credit Karma, Student Loan Hero, and more.

learn about our editorial policies

Updated on March 22, 2024

Fact checked byBetsy Petrick

We independently evaluate all recommended products and services. If you click on links we provide, we may receive compensation. Learn more.

The best RV loan to help you finance your motorhome or recreational vehicle will depend on your financial situation and your personal preferences. The cost of an RV can be intimidating. Depending on whether you opt for a towable or motorized vehicle and the class of vehicle you choose, the average cost can range from $5,000 for a small folding camping trailer to $140,000 for a type A motorhome.Compare the best RV loans to find one that's right for your credit score, offers fast funding, covers the cost of your new RV, and more. To help you find the right loan for your needs, we identified the best RV loans based on their rates and fees, loan amounts, repayment terms, and vehicle requirements.

Best RV Loans for April 2024

Unsecured personal loans are another option if you need to finance an RV, although loan amounts may be lower than what you’ll find with RV loans. See the best personal loans to check your potential rates and terms.

Best RV Loans for April 2024

Best RV Loans for April 2024

  • Our Top Picks
  • My Financing USA
  • NASA Federal Credit Union
  • Southeast Financial
  • LightStream
  • LendingTree
  • See More (2)
  • Final Verdict

  • How to Choose

  • FAQs

  • Methodology

Best for Poor Credit : My Financing USA

Best RV Loans for April 2024 (2)

  • Used APR Range: 6.24%–19.95%
  • Used Loan Amounts: Must be above $10,000
  • Used Loan Terms: 5 to 20 years

Pros & Cons


  • Lowest interest rates among top lenders we reviewed

  • Low credit score requirement of 550

  • Long loan terms available

  • Offers refinancing and purchase loans


  • High loan minimum

  • Document fee of $495

  • Application and approval process can take days to complete

Why We Chose It

We chose My Financing USA for the best RV loans for bad credit because it scored highly in our analysis and it has the lowest credit score requirement of all the lenders we evaluated.

While some other lenders require borrowers to have good to excellent credit, My Financing USA has a credit score minimum of just 550. Plus, you can qualify even if you have declared bankruptcy in the past, a rarity for RV loans (but multiple or open bankruptcies may be disqualifying).

My Financing USA works with a set of partners to offer loans for new and used RVs, and you can also refinance existing loans. You can purchase RVs from dealerships or private parties.

Your loan must be above $10,000, which is higher than some lenders' minimums. My Financing USA’s loan process can also take longer. According to the company, same-day decisions are possible, but other factors can cause it to take longer.

Borrower Qualifications

  • Recommended minimum credit score: 550
  • Maximum debt-to-income ratio: 40% to 50%
  • You must have a consistent source of income.
  • Borrower must be living in Delaware, Indiana, Kentucky, Maryland, Michigan, Ohio, Virginia, or West Virginia.

Vehicle Qualifications

  • Maximum loan-to-value ratio: Varies by partner lender
  • Maximum accepted mileage: Not disclosed
  • Maximum accepted age of vehicle: Not disclosed
  • Private-party vehicle purchases allowed: Yes
  • Vehicles cannot be used for commercial or full-time use.

If you intend to make your RV your primary residence, be aware that the majority of RV loan lenders won’t lend to full-timers. You’ll have to find a lender that offers loans specifically for full-time RV use, such as Alliant Credit Union, or use a personal loan.

Best Credit Union : NASA Federal Credit Union

Best RV Loans for April 2024 (3)

  • Used APR Range: 7.09%–10.29%
  • Used Loan Amounts: $5,000–$125,000
  • Used Loan Terms: 3–15 years

Pros & Cons


  • Low loan minimum

  • Membership open to the general public

  • Offers purchase loans and refinancing options


  • Cannot apply online

  • Higher rates for older vehicles

  • Shorter loan term maximums

Why We Chose It

When you’re shopping for a loan, a credit union can be an excellent place to start. As nonprofit organizations, they often have lower rates than banks and other financial institutions. However, credit unions often restrict their membership to certain groups.

NASA Federal Credit Union’s membership is open to the general public—one reason why it's our choice for the best credit union for RV loans. NASA FCU has good rates and a low loan minimum, and it offers both purchase loans and RV loan refinancing.

However, NASA FCU does not allow you to apply for a loan online. Instead, you have to visit a branch in person or call its customer service center.

Though NASA FCU has competitive rates for its RV loans, be aware that the older the vehicle, the higher the rates:

  • Vehicles from model years 2019 through 2014: One percentage point higher
  • Vehicles from model years 2013 and older: Two percentage points higher

Borrower Qualifications

  • Minimum credit score: Not disclosed
  • Minimum income: Not disclosed
  • Employment qualifications: Not disclosed
  • Membership requirements: Open to NASA employees, eligible employees of other organizations, members of the National Space Society (NSS), and relatives of members (NSS membership varies from $40/year to $62/year, and NASA FCU will pay for the first year)
  • States available: 50 states and D.C.

Vehicle Qualifications

  • Maximum loan-to-value ratio: Not disclosed
  • Maximum accepted mileage: No maximum
  • Maximum accepted age of vehicle: No maximum
  • Private-party vehicle purchases allowed: No

Best for Large Used Loans : Southeast Financial

Best RV Loans for April 2024 (4)

  • APR Range: 6.99% and up
  • Loan Amounts: $10,000–$4,000,000
  • Loan Terms: Up to 20 years

Pros & Cons



  • $10,000 loan minimum

  • Limits on older vehicles

  • Low mileage restrictions for refinancing

Why We Chose It

Motorhomes and RVs can be significant investments. Motorized type A motorhomes average $100,000 to $140,000, but more luxurious versions can be in the seven figures. Some RV loan lenders have fairly low loan maximums of $150,000 or less for used vehicles, which is why Southeast Financial is our pick for the best lender for large used loans.

With Southeast Financial, you can finance up to $4 million to purchase your dream RV or motorhome, and the lender will finance used vehicles that are up to 12 years old. Depending on your credit and the loan amount, you may have as long as 20 years to repay the loan.

Southeast Financial does have a minimum loan of $10,000. And if you intend to refinance your existing RV loan, your vehicle must have fewer than 90,000 miles.

Borrower Qualifications

Southeast Financial doesn’t disclose its minimum income criteria, but you must meet these other requirements:

  • Minimum recommended credit score: 600
  • Minimum recommended down payment: 10%
  • States available: 50 states and D.C.

Vehicle Qualifications

  • Maximum accepted age of vehicle: 12 years old
  • Vehicles cannot be used for commercial use.
  • Conversion vans are not eligible for financing.

Best for Fast Funding : LightStream

Best RV Loans for April 2024 (5)

  • APR Range: 7.49%–16.14%* with autopay
  • Loan Amounts: $5,000–$100,000
  • Loan Terms: 2–12 years

Pros & Cons


  • Quick loan funding

  • No vehicle restrictions

  • Unsecured personal loans


  • Relatively short loan term maximum

  • Relatively low loan maximum

  • Good to excellent credit required

Why We Chose It

When you find a great deal on a used motorhome or RV, you may not have time to wait for a traditional RV loan lender to review your application. That’s why LightStream is the best for fast funding; you can borrow up to $100,000 and receive the money as soon as the same day you apply.

LightStream can fund the loan the same day if you apply on a business day, your application is approved, and you review and sign the agreement and provide bank details by 2:30 p.m. ET.

LightStream’s loans are unsecured, so it doesn’t have any age or mileage restrictions; it's worth exploring because its rates for RV loans (and other auto loans) are lower than for most other purposes.

Good to excellent credit is required to qualify for a loan, and LightStream has shorter loan term maximums than other lenders. But for those who need $100,000 or less quickly, it can be a good choice.

Borrower Qualifications

  • Minimum recommended credit score: Good to excellent credit required (typically 680, but may vary)
  • You must be the age of majority in your state.
  • You must have a verifiable source of income.
  • LightStream takes into consideration your credit history, assets, and debt-to-income ratio (DTI).
  • Available in all 50 states and Washington, D.C.

Vehicle Qualifications

  • Maximum accepted vehicle age: No maximum
  • Maximum accepted mileage: No maximum
  • Maximum loan-to-value ratio: No maximum
  • Allows private-party vehicle purchases: Yes

Best Loan Marketplace : LendingTree

Best RV Loans for April 2024 (6)

  • APR Range: Starting at 6.99%
  • Loan Amounts: $5,000–$10 million
  • Loan Terms: 60-240 months

Pros & Cons


  • Highest loan maximum

  • Long loan terms available

  • 0% down payment options


  • Rates vary by lender

  • Most lenders will not lend to full-timers

  • Processing fees may apply

Why We Chose It

When nothing but the latest, most luxurious RV model will do, LendingTree is an excellent place to find a loan. It connects you with partner lenders that offer financing up to $10 million, as high as any lender we evaluated.

LendingTree’s partners are flexible, with loan terms as long as 20 years, and some partners have 0% down payment options. You can check rates and terms with several lenders at once, saving some time and hassle. Just be aware that LendingTree only has a select number of partners, and it’s probably worth your time to explore other lenders as well.

Take note that eligibility requirements, rates, and added fees vary by lender. Mot of LendingTree’s partners will not lend to full-timers, so you’ll probably have to look elsewhere if you intend your RV to be a primary residence.

Borrower Qualifications

Qualifications vary by partner lender.

Vehicle Qualifications

Vehicle restrictions vary by partner lender.

Final Verdict

Whether you have your heart set on a vintage teardrop trailer or a posh motorhome, there are many options for RV loans. If you’re dealing with poor credit, My Financing USA is a good first stop. Some lenders, such as NASA FCU or LightStream, offer smaller loans with competitive rates for new and used vehicles. And if you want to shortcut the process and apply with several lenders at once, LendingTree can help you quickly check rates with a few popular lenders.

Guide to Choosing the Best RV Loans

What Is an RV Loan?

An RV loan is a type of installment loan specifically designed for the purchase of travel trailers, campers, and motorhomes. They are usually secured, so the vehicle serves as collateral, and lenders typically require a down payment.

RV loans usually have much longer repayment terms than car loans. Repayment terms can be as long as 20 years, while car loans usually have terms ranging from two to eight years.

Comparing RV Loans

When shopping for an RV loan, keep the following factors in mind:

  • Annual percentage rate (APR): The APR has a significant impact on your total repayment cost. With RV loans the APRs can be into the double digits.
  • Vehicle restrictions: Many lenders have restrictions on the type of vehicle you can buy, its age, and its mileage. If you’re shopping for an older RV or a high-mileage vehicle, finding a lender may be more challenging.
  • Repayment terms: Generally, RV loans have repayment terms ranging from 5 to 20 years. A longer repayment term will give you a more affordable monthly payment, but you’ll pay more in interest.
  • Down payment requirements: Although there are some companies that allow you to finance 100% (or more) of the RV’s price, most RV loan lenders require down payments. The minimum required often ranges from 10% to 25%.
  • Vehicle use restrictions: Most RV loan lenders only issue loans for vehicles for recreational use; if you intend to use your RV as a primary residence or for commercial purposes, you may have fewer loan options.
  • Credit requirements: Most lenders require good to excellent credit, but there are some lenders that will accept lower credit scores.

How to Get an RV Loan

Follow these steps to get an RV loan:

  1. Create a budget: RVs can vary in price, starting as low as $5,000 and costing as much as $1 million or more. Make a list of your expenses and income, and see what you can realistically afford to pay each month for an RV. Keep in mind that there are other expenses beyond the purchase price, such as insurance, fuel, and maintenance.
  2. Check your credit: View your credit reports at to make sure the information is correct. If there are any issues bringing your score down, dispute them with the credit bureaus.
  3. Narrow down vehicles: Some lenders require you to have a specific vehicle in mind before you can apply, so narrow down your list of vehicles to a few models in your price range.
  4. Submit your information: Fill out the lender’s application, including information about your income; you’ll usually have to consent to a hard credit check.
  5. Wait for approval and disbursem*nt: It can take longer to hear back about an RV loan than it might with other loan types. In fact, it can take a week or more before your loan is ready to close, so don’t be discouraged if you don’t hear back right away. If your application is approved, the lender will work with the dealership to disburse the loan, or you can receive the funds in your bank account if you’re buying from a private party.

Frequently Asked Questions

  • When Is the Best Time to Get an RV Loan?

    Typically, the spring and summer are the busiest months for RV sales, so deals tend to be scarce. During the fall and winter, demand for RVs drops, so you’re more likely to score a deal. Learn more about how to get the best car loan so you can save money on your next vehicle.

  • Is RV Loan Interest Tax-Deductible?

    In some cases, you can deduct the interest you pay on your RV loan by taking advantage of the home mortgage interest tax deduction. To qualify, your RV has to serve as a second home, and the vehicle usually needs to have both kitchen and bathroom facilities. If you aren’t sure if you’re eligible, contact a tax professional.

  • What’s a Good Interest Rate for an RV Loan?

    Several factors affect the rates on RV loans, but the best RV loans tend to have single-digit interest rates. Getting the best rates on a car loan can take some work, but it’ll pay off.

  • Are RVs a Good Investment?

    From a purely financial perspective, a new RV is rarely a good investment. According to J.D. Power, RVs depreciate by about 20% as soon as they leave the lot. And their fuel and maintenance costs can be significant.

    However, you may find that an RV is still a good investment for your family. You may find that an RV allows you to go on inexpensive vacations, or increases how much time you spend together. In those terms, an RV can be well worth the cost.

How We Find the Best RV Loans

The Balance is dedicated to providing consumers with unbiased, comprehensive reviews of auto loan lenders. To rate RV loans, we collected hundreds of data points across 16 RV loan lenders, including interest rates, fees, loan amounts, borrower requirements, and vehicle requirements, to ensure that our reviews help users make informed decisions for their borrowing needs.

Best RV Loans for April 2024 (7)

Article Sources

  1. RV Industry Association. "RV Types, Terms, and Prices."

  2. My Financing USA. "RV Loans."

  3. My Financing USA. "Frequently Asked Questions," Click "What Are Your Rates and Terms?"

  4. My Financing USA. "Frequently Asked Questions," Click "What Are the Minimum Application Requirements?"

  5. My Financing USA. "Frequently Asked Question," Select "How Long Does It Take After You Apply."

  6. NASA Federal Credit Union. "Recreational Vehicle Loan Rates."

  7. NASA Federal Credit Union. "Recreational Vehicle Loan Rates."

  8. NASA Federal Credit Union. "Welcome to a Brighter Financial Future."

  9. Southeast Financial. "Motorhome Financing and Loans."

  10. Southeast Financial. "Below Are Several Questions That We Often Hear From Prospective Customers and Our Answers," Click "What Amount of Money Will You Finance?"

  11. Southeast Financial. "Below Are Several Questions That We Often Hear From Prospective Customers and Our Answers," Click "What Are Your Loan Terms?"

  12. RV Magazine. "The Most Luxurious RVs for 2022."

  13. Southeast Financial. "Motorhome Financing and Loans."

  14. Southeast Financial. "Below Are Several Questions That We Often Hear From Prospective Customers and Our Answers," Click "What Amount of Money Will You Finance?"

  15. Southeast Financial. "Motorhome Refinancing."

  16. Southeast Financial. "Below Are Several Questions That We Often Hear From Prospective Customers and Our Answers," Click "What Kind of Credit Do I Need To Meet Your Loan Requirements?"

  17. Southeast Financial. "Loan Tips To Maximize the Benefits From Your Recreational Vehicle Financing."

  18. LightStream. "RV Loans and Refinancing."

  19. LightStream. "RV Loans and Refinancing."

  20. LightStream. "RV Loans and Refinancing."

  21. LendingTree. "RV Loans & Rates."

  22. RV Share. "When Is the Best Time to Buy an RV?"

  23. Internal Revenue Service. "Publication 936: Home Mortgage Interest Deduction (2022)," Page 4.

  24. JD Power. "How Much Do Campers Depreciate?"

Best RV Loans for April 2024 (2024)
Top Articles
Latest Posts
Article information

Author: Dean Jakubowski Ret

Last Updated:

Views: 6213

Rating: 5 / 5 (70 voted)

Reviews: 93% of readers found this page helpful

Author information

Name: Dean Jakubowski Ret

Birthday: 1996-05-10

Address: Apt. 425 4346 Santiago Islands, Shariside, AK 38830-1874

Phone: +96313309894162

Job: Legacy Sales Designer

Hobby: Baseball, Wood carving, Candle making, Jigsaw puzzles, Lacemaking, Parkour, Drawing

Introduction: My name is Dean Jakubowski Ret, I am a enthusiastic, friendly, homely, handsome, zealous, brainy, elegant person who loves writing and wants to share my knowledge and understanding with you.