![]() ![]() Most RV loans feature repayment terms that range between one and seven years. While an RV loan is similar to an auto loan, loan terms are generally longer and the transaction is oftentimes more complicated, like a mortgage. The RV itself will usually serve as collateral for the loan - if you default on the balance, it could be seized by the lender to satisfy the delinquent payments - just like when you purchase a car. The cost of an RV can range from as little as $5,000 to more than $500,000, so most RV buyers rely on financing. You should also consider the loan term and amount you are eligible for, as well as additional features each lender may offer.Īn RV loan is a type of long-term financing used to purchase a motorhome, travel trailer or camper. While finding a loan with a low interest rate is important, it is not the only thing you should consider. However, the actual rate you receive depends on factors such as your credit score, debt-to-income ratio and annual income. The best RV loan interest rates currently start around 4.49 percent for borrowers with excellent credit. There are several factors to keep in mind when considering an RV loan. You can get an RV loan from an online lender, a bank or credit union, or through a dealership. RV loans are designed to help you finance the purchase of a recreational vehicle. Comparing these and other factors will help you find the right lender and determine if an RV loan is the right choice for your finances. Based on our research, we have also identified each RV lender highlighted as "best for" particular situations. ![]() ![]() While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service.īankrate’s picks for the top RV loans were chosen based on the interest rates, loan terms and additional features each lender has to offer. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money.ī is an independent, advertising-supported publisher and comparison service. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey.īankrate follows a strict editorial policy, so you can trust that our content is honest and accurate. Our experts have been helping you master your money for over four decades. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our goal is to give you the best advice to help you make smart personal finance decisions. Editorial Independenceīankrate’s editorial team writes on behalf of YOU – the reader. Our editorial team does not receive direct compensation from our advertisers. We maintain a firewall between our advertisers and our editorial team. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. ![]()
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